Decision Points in Private Practice: Are You Helping or Hurting?

Let’s face it, the private practice of healthcare can be enormously stressful.

One of the things I get to discuss with consulting clients every single day is the impact that their everyday decisions in the course of practice have on their health, prosperity, and even their lifespan and career longevity.

doctor holding glassesLet’s face it, the private practice of healthcare can be enormously stressful. Some of this occurs in any occupation. But, more recently the expansion of regulations and requirements—everything from how we keep our records, documents or clinical findings, to direct challenges by third parties and government make this much more difficult.

I often argue that so much of this “stuff” is unnecessary, but that is another story entirely.

There are, however, things you can do that will greatly reduce the BS in private practice and impact your future in a very positive way.

The best way to do this is to start to treat practice like the business it really is. Every day, learn more and more CEO skills.

Learn what the greats in business and practice do year after year.

And, the most important piece is, learning to make decisions. Too many business—and, yes, private practice—owners do not take this seriously enough. They sometimes delegate things to managers and even support staff that they should be handling themselves.

This especially includes things like which patients to accept or not, which third-party reimbursement to participate in or not, etc.

Jack Welch is famous for stating that every year we need to cut out the bottom 15% of our business. That means practice systems, perhaps staffing, and even some non-compliant patients.

I respectfully submit to you today, making these sometimes-difficult decisions first will have the biggest impact on the rest of your year, and perhaps the rest of your career!

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