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Private Practice Owners Business School

It is the journey, not the destination that determines the ultimate reward of private practice ownership.

One of the harshest realities for today’s private practice owner is the fact that professional college has left them woefully unprepared for the demands of today’s private practice!

Private practice now is a business more than anything. And it is an entrepreneurial business requiring many more skillsets than most graduates realize, or are prepared for.

There is the marketing component; miss the marketing component and you may as well never have opened your door. Then there are staffing skills, hiring, termination procedures, compliance with state and federal laws—and on and on.

Lastly, and perhaps the most important of all, are the skillsets required of a CEO.

Like it or not, when you open your doors as a private practice owner you became the chief executive officer. If you’re like most practice owners, you’re also the CFO and HR department. At least in the early stages of your private practice development.

So what is one to do?

Like all successful private practice owners, you will need to be in education in what I call the private practice owners business school.

This means that you will need a team of trusted advisors, as well as the training necessary to accomplish all of the above.

If you find this less than an exciting process, it is entirely possible that you are better suited for public health care as opposed to private practice.

On the other hand, if you find yourself “unemployable”, or simply unwilling to work for someone else, the rewards of private practice ownership are still enormous.

This is not only true from a medical perspective, but also the process it takes to get where you want to be enormously rewarding!

So begin to get together all the necessary tools. Make some phone calls. Interview prospective team members. This includes consultants, coaches, as well as attorneys and accountants.

Always remember: it is the journey, not the destination that determines the ultimate reward of private practice ownership.

Would You Like Help Perfecting Your Practice? Feel Free To Call Us at 781-659-7989 and join us 24/7 at http://PerfectPracticeWeb.com

The Only Thing you have to manage in your Private Practice is “Systems”

If you reinvent or break the system that already works the net result is too often disaster for the private practice owner.

”You can’t manage people because people are basically unmanageable.” So said long ago Michael Gerber, author of the E-Myth. Now for those of us in private practice we see this every day.

Systems do work

Let Your Systems Do The Work!

We see this with patients, but more especially working with the team of human beings we are proud to call our staff members.

What are the key takeaways from today’s discussion is to understand completely that to improve your practice outcomes you must improve your systems.

One of the things that is painfully obvious to me as a consultant is that success is very formulaic. When certain rules, and systems are followed, executed, and then continually improved upon private practice runs like a well oiled machine.

Conversely, reinvent or break the system that already works and the net result is too often disaster for the private practice owner.

And the same is very true clinically. I was fortunate enough to be taught this by wonderful instructors over 30 years ago. When you have a specific formula let’s say for patient suffers from a herniated disc, follow the formulas and the techniques you are best at.

The good news is 80%+ of your patients will do extremely well with the formulaic approach to care.

The very same approach is very useful for staffing and marketing your private practice. That is, be sure to use tried-and-true systems. More importantly, make sure that each key component of the system is acted upon every day.

Make sure your staff knows how important keeping to systems actually is. Emphasize how much easier it makes their daily tasks, and accountability

Be sure to take a hard look at your private practice, systems, what drives the systems and what improvements you can make to smooth out any bumps, increase profitability and most especially the fun quotient in your private practice!

Want to learn much more about effective practice development via systems? Go To http://PerfectPracticeWeb.com/12secrets

Are YOU Prepared for What Lies Ahead in Private Practice?

Private practice remains for those of us who are fiercely independent, and refuse to bow to the status quo.

One of the harshest realities every private practice owner needs to face is the landscape of private practice is changing, continuously!

One of the biggest areas I see private practice owners get into trouble with is failing to understand all the areas and systems that are necessary to operate and manage profitably a private healthcare practice.

This includes entire variety of systems including HR, safety, compliance, record keeping, etc.,

At the end of the day it also includes combining your best clinical skills with effective marketing that draws precisely the type of patient you desire into your private practice. Are you prepared?

And you know what? It is difficult work. That’s why private practice remains for those of us who are fiercely independent, and refuse to bow to the status quo. We’re the ones who decided to work outside the public system.

Recently, I have had a bigger glimpse of what lies ahead in private practice. As you probably know, neuropathy and chronic pain patients from outside the United States often contact us.

And as no surprise to us these patients are extremely frustrated with government mandated healthcare and regulations. Often times they tell me surly professionals who are trained to act like robots see them. No treatment outside a very narrow window is allowable or prescribed within these government-mandated systems.

Unfortunately, this is likely a glimpse of what lies ahead for United States.

That’s why it is more important than ever that you position yourself to effectively deal with these challenges now, before it’s too late. But I caution you not to wait too long.

The task that lies ahead is enormous in many respects, but not insurmountable.

Start today by doing a careful examination of precisely where your practices IS, and where you WANT it to be.

Remember, failure to plan right now, is in fact planning to fail.

Let us know if you are prepared.

Join our community of Private Practice Owners by clicking HERE!

Lessons Learned?

With fuel prices dropping like a stone, and a huge difference in gasoline pricing just 10 miles apart in these northeast towns, I can’t help but wonder, have we learned anything about the current trends and events that have a huge impact upon our lives?

I certainly hope so, but only time will tell.

Here’s my take.

1. Fuel prices soared, and stayed up because they could, without significant repercussions from any government authority. If you or I did that, we’d lose our licenses.

2. It’s not the last time we see this. Seems to me this strategy was tested after Katrina, and stuck this time. And I am sure its not over.

I think back to the gas lines of the 70s and lessons never learned. Instead, we get more dependent on foreign oil, and continue 35 years of incredible consumption. Next, we even gave our jobs away, make it incredibly difficult to do business in our own country, continue to line the pockets of special interests and set the stage for more corrupt politics. Now, other growing countries exhibit the same behavior.

And again in the USA, the biggest auto Companies Banks and Mortgage companies will be looking for bailouts by the feds, while posting brutal losses and shareholders stock value plummets.

Gosh, it must be nice to screw up so bad, and still come out smelling like a rose. All in the face of warning signs and trends of not so long ago.

Like Yogi Berra said, “This is like deja vu all over again.”

So, what’s the point? Again, it’s Yogi’s words of wisdom…

“You can observe a lot just by watching.”

This type of human behavior in the face of rapid change could also have everything to do with your practice right now. Here is how I think it applies.

Lesson number one. The profitable and successful business and professional practice is built upon current trends, and they often are not necessarily at all the way we are used to thinking. Way, way outside the box. This is also the harsh reality of “future shock”.

Lesson number two. Alvin Toffler was so prophetic! Future Shock is modern mans greatest psychological affliction. Simply put, given half a chance, humans will screw up big time (and screw others) by failing to acknowledge and respond to the amount and rapid pace of change, in all areas of our world.

Lesson number three. Ignorance of important trends, changes and warnings hurts. It hurts people. It changes societies very quickly.

(And, it might just destroy everything that built America, a country that no longer teaches, or touches history on any scale like it used to. Collectively, very short memories for a very young country).

In any event, most of today’s doctors are just like most people in any important endeavor. Failure to thrive and especially prosper is often rooted squarely in these three closely related crucial errors.

Here they are in a slightly different format.

Ignorance of current trends.

Continuing to use antiquated tools, and this is a real biggie for such a smart group.

Not changing key life and business components (systems) until it’s very late in the game or disaster strikes).

Please remind yourself daily that ignorance is not bliss. In fact, it’s a recipe for disaster, in most everything.

Now the good news.

You can be a better doctor and businessperson! You can learn new skills; use new tools that operate better systems. You can still create a powerful life while rendering a unique set of services to your communities. You can earn a fantastic livelihood and save many lives and countless amounts of ill heath, humanities most basic needs. You can.

But only If…

Hopefully, your answers are obvious.

Want to talk about growing YOUR Private Practice? Call me 24/7 781-659-7989 or email drjohnhayesjr@gmail.com

Your FREE Downloadable Guide is at http://PerfectPracticeWeb.com

Step by Step Implementation Guide

One of the biggest issues in private practice done right, is developing a step-by-step plan of implementation, what to do, and exactly when.

I am often asked by doctors, “Can you please tell me what to do next?” The reality is, this is formulaic, and with a little effort, you too can develop an implementation game plan.

Lets do this step by step.

  1. The very first thing is to outline in writing exactly what it is you want to accomplish and produce. Yes, that’s right, your goals and targets. The more precise you can be, the better the results. Doctor, do not overlook this vital step. In private practice, you are the CEO, CFO, Marketing Manger, and most often the Team Captain. If your behavior is not congruent with these roles, success will always elude you in private practice. This is a very powerful lesson that way too many ignore. You can be the best clinician ever, but private practice success and fulfillment require much more. Always remember though, your rewards are so much greater when you function at this highest level. When you have a high six to seven figures a year practice, then you can delegate some of the day-to day management, but as long as you own the practice, never abdicate its direction and financial oversight!!!Too many make this first and vital implementation step way too stressful. Make it easy, by just using a pencil and a notebook. It also may really help to just work in 90-day segments. Just mark your calendar to redo this exercise every 90 days. It also really helps if you write your primary goals every day if you want to accomplish way more than the average doctor. Anything you can do to make this more visual, like photos and diagrams can easily add a powerful emotional “hook”, and help you accomplish more in far less time.
  2. Get in the habit of operating only off a DAILY checklist!Again keep it easy, low stress. I still like white legal pads and multicolor pens for daily use. Typically you can make a list no later than Sunday Night for the week ahead. Next, color prioritize each of these items. Black is done, red is critical, green is underway, and blue is re-routed. Finally, cross off what’s been completed. Looking at your list with all items crossed off then allows you to move onto the next phase.Just make sure, that your checklists include the three core components of the practice. This would include:Production- exactly what’s happening this week to grow production? Here, you should list out Marketing Events, patient workshops, radio show, fitness screening, etc.Collections- analysis of your income and expenses, and especially the trends of these two key areas to financial independence. Pick the same day and time each week to review these.Staffing- What’s going on with your team? Are there pending vacations, missed steps in critical procedures? A compliment to be awarded or violations of policy?Next, you must note the appropriate action step on your DAILY checklist for all of these key areas.
  3. Develop and operate only off a 90 day Master Implementation Plan. Make sure your entire team knows it, and helps hold you accountable.One of the great simplifiers of implementation is to not project beyond 90 days, unless you are very proficient at all the above steps. For most of us, this is the precise interval to observe progress, trends and make corrections to what’s not working.The Master Plan is the poster of every area of practice that is multifaceted. A great example is marketing. Lets say you want to start a monthly newsletter for patients.You would first list “Monthly News” with a deadline or start date on your master plan, but your daily checklist might list, “select theme, call mailing house, fix event calendar” etc.And that’s it! You can keep it this simple. Sure, there are many other things (advanced executive skills) you could add, but I suggest holding off until you get effective at actually implementing all the key steps to practice growth and personal freedom.When you are ready to really take this to the next level, hire a coach.Personalized analysis of your situation, with someone who has done it all before can pay enormous dividends. Most coaches will gladly give you a written, personalized implementation plan as well.But recognize doctor, failure to have these basics in place first is a recipe for disaster. Don’t let this be you!

    Take these very simple steps today! Your only supplies needs are a notebook, pencil, a pack of white legal pads, a multicolor pen, a poster board and a calendar.

    The more consistent and disciplined you can operate in this way, the more successful and creative, and ultimately financially independent you must become.

  4. Lastly, Download your FREE Guide Template at http://PerfectPracticeWeb.com then call 781-659-7989 or email me drjohnhayesjr@gmail.com

Why Not You?

Recently, especially as the private healthcare environment harshens, I have been asking myself much more often about the real differences between those who are wildly successful, and those who struggle, year after year in practice. This really hit me hard after I relistened to my own most recent webinar on developing perfect practice for prospective members. Frankly, I sometimes wonder what makes those who study, implement and follow advice and become wildly successful different than those who don’t. (If you missed this recent event, you can get it at visionofthefuture.net.

Frankly, It hit me again just this morning after a fabulous outing at a local yacht club, why anyone would even expect to be successful, or better yet become truly independent, without careful attention to every aspect and area of business, success and personal achievement.

First, I thought about this at some length on my way home early this morning, put it aside until a little later on, then the differences became readily apparent. The answers came to me with blinding simplicity. So, I made a list of the top three reasons for failure to thrive in practice. And you know what? Its just three things!

Those who become very successful in life and practice do three unique things that those who struggle don’t.

  1. Successful people totally and unconditionally accept full responsibility for their lives and practices. They never blame the economy, insurance companies or patients who just don’t understand.
  2. The most successful are continuously gathering new information. These are the readers and seminar takers. Theses doctors take every call we sponsor, request more help, frequently with letters and emails. They travel to every live event we give or advise them to take. They regularly gather all the knowledge they can. These doctors completely understand that knowledge is power, and the ultimate in personal freedom. They have a book or CD or mp3 on success handy, at all times. It makes no difference if they are in year 3 or 30 in practice.
  3. Lastly, these doctors know what they want. They can spout off their goals and aspirations with great clarity. And when their mental pictures become cloudy, they pause, reflect and redirect. Ultimately, these doctors make their own decisions, after gathering all the data, and truly decide what’s in their own best interest, as they tweak and fine-tune their game plans. To the core, they are internally focused, but ever vigilant to support in everyway possible those who mean the most to them.

Doctors, the good news is changing from mediocrity to complete fulfillment and happiness is as simple as hitting just these three things.

But, what if you are overwhelmed with challenges? What are we to do first? What do those who are ultimately hugely successful in life do?

Ask successful people for guidance. They never fail to share and help.

Always ask for help and guidance from those who have been there. This is exactly why I have three coaches and belong to mastermind groups.

Successful people engage in all the critical aspects of living a self-actualized life. And they tell you just how they get it all done. This is the reason that continued immersion in success skills and philosophy; personal growth, physical fitness and spirituality all are essential components of a powerful life .

Remember as great as spouses and families kind support can be while you are stressed, nobody really knows what you face in practice except peers. So, when it’s really critical information you need, do you take advice from the most successful, or not? The answer should be obvious.

Next, practice total and unconditional acceptance of personal responsibility.

If you have not done this, you may need to work on this. Daily. This where reading the masters, and spiritual works such as the Bible, the Gita, Koran or simply going to that quiet place within your own soul really helps.

Lastly, if things aren’t working for you in any area of life, make a new plan!

Today!

Remember, the definition of insanity is doing the same old thing in the same old way expecting different results. And as the world changes, our plans often need to adapt or change as well. Realize, this is exactly why I repeat our Core Modules for members live, every six months. Because the pace of change is now so rapid.

And, remember Future Shock? Remember how easy it is to be mesmerized in the face of rapid changes, and the tendency to shut down and do nothing, rather than taking on a new game plan.

Now, here’s the really good news. These are behaviors, and learned choices!

If you are capable of reading this, you can fix any of the issues I discussed here today.

So, here’s a simple plan you can act upon right now to be happier, more successful and fulfilled,

  1. Be a better and bigger asker! Jim Rohn says the problem with most of us is that too many metaphorically go to the ocean to gather water with a thimble, instead of a bucket. Be a better and bigger asker and life rewards in kind!!!
  2. Continually engage and learn! Not just practice, but all of life’s most important skills. Be willing to pay the price of success and then reap all its joy.
  3. Make sure you know what you want, and continually move towards it!

Lastly, burn all your bridges to past failures. You will be glad you did. Why not do all you can this year by joining us HERE:

Influence-The Doctors Who Will Save Healthcare

Without power, profit and influence, in your own life and practice, you are unlikely to learn from the past, deal with the present and plan as accurately as possible for the future. But just why are these so important?

One of my fascinations as a consultant comes from dealing the vast differences in how people view the world, as well as their own professions.

Even more fascinating, is how they respond to the wide variety of situations we are all presented with every day. Now this is something I’ve written on extensively, during the last three years, and continue to research on almost daily basis.

Of course, there are many reasons for these vast differences, even amongst similar groups of people (like DCs MDS, DMDs JDs etc.). No doubt, some are biologic and likely even genetic responses. Some are cultural. Some are environmental. And lets not forget education and professional training.

No doubt, the largest factor accounting for all these differences is personal beliefs about the world we live in and then how we should act upon incoming information and react or not to the situations we are faced with on almost a moment-to-moment basis.

Our personal beliefs are what comprise our self-image. Many years ago, Dr. Maxwell Maltz, a plastic surgeon observed this in his patients, and then went on to write about it extensively in his landmark work, “Psychocybernetics”.

Dr. Matltz’s observations at the time were, and still are landmark, in dealing with human behavior and achievement. Matlz observed that humans have the unique capacity to set courses like a missile, and hit targets with precision. He also astutely observed that these missile courses are never over a straight line, and indeed the vast majority of travel time is off course.

Q. So what causes a missile, or you or I to hit our targets?

A. It’s actually continual course correction.

Q. And which is the faster course?

A. It’s always a straight line.

Q. Which combination of characteristics produces a straighter line in professional practice development?

A. It’s Personal Power, Profit and Influence.

Success, happiness and fulfillment in practice and in life are always a combination of accurate assessment and response, over and over again. (This is also why the mechanisms we teach to run and grow a professional practice actually work.)

As keen as Maltz’s observations were, it really wasn’t until 1970 when Alvin Toffler wrote “Future Shock” did we come to understand again, some of the reasons why we have vast differences not only in human behavior, but society as a whole.

Toffler’s work also clearly demonstrates how ignorance of these factors can lead entire groups and organizations to become ineffective, powerless and unprofitable.

Seemingly very quickly.

So how can we not only survive, but also prosper and grow as individuals and professionals? How can we stand for solid principles and render the excellence in human services we have been trained to do?

Not because they (we) changed, but rather the world changed.

It will be only through Personal Power, Profit, and Influence.

Not unlike healthcare professionals (“providers”).

Personal Power comes from building all aspects of our lives on a firm foundation. Personal power in this day and age fully develops only with an eye clearly on the future. Ignorance of either the speed of change or the magnitude of change will lead to failure. Without firm foundations, principles and beliefs, we are like trees without roots.

With a firm foundation however we can weather hurricanes, tornadoes and tsunamis.

And profit. You, and you alone will determine your financial future. Without profit and savings, a strong financial future is impossibility. Without a strong financial position, we actually end up powerless, in so many ways.

Lastly, let’s talk about influence. Many of us ignore the impact of our influence on our patients, our staff, and most especially our communities. Those doctors, who maintain a high degree of influence not only in their offices, but also in their communities, will undoubtedly be those who master personal power and profit.

In “Future Shock- Personal Power, Profit and Influence”, we will together, around the USA be exploring the role all these have not only in our personal and professional lives, but the significant impact our collective efforts have in producing meaningful results and a bright future, not just for a very unique profession, but for our healthcare system. And, most especially our patients.

I hope you will join me on the quest to preserve patient choice, the affordable access to private healthcare, and the highest quality of care possible.

Know Your Private Practice “Seasons”

Astute private practice owners know that using seasonality to their advantage can have HUGE benefits in their clinics.

Seasonality: seasons of the year and natural cycles. Why is this important for private practice owners?

Seasons and cycles govern movement of the natural kingdom of mammals, birds, fish, and people!

Think about it. When you were a little kid, did you act differently knowing summer or winter was about to end or begin?

Of course you did! And if you ski, boat, or otherwise play outside, you still know exactly what I am talking about!

Astute marketers and private practice owners know that using seasonality to their advantage can have HUGE benefits in their clinics too. Think about what’s on patients’ minds at any given time of the year, and compliment and embrace it!

For example, every holiday season doing little extras for patients, things like “making your life simpler” with Gifts of Health can not only BOOST your private practice’s own income, but can also make your patients lives easier during the holiday gift giving season. It but also encourages them refer—while your colleagues are complaining about being slow “this time of year”.

Now, those who really master this also engage patients during the seasons of their lives—births, weddings, and even at a time of grief. It’s compassionate to do so… but also good business.

It could be you never thought about private practice like this. If this is all new to you, you may want to pick up a copy of “Maximum Referrals”, a DVD I did a few years back, to help plan the marketing year out in advance.

Of course, we embrace seasonality. To count yourself in the ranks of the ultra successful private practice owner, start thinking and planning in this way too!

Just remember, these tips can be used year after year. Time spent now building your plan will have impact upon your private practice growth for years to come!

 

Christmas Time: Private Practice Growth, Part 2

During the holidays there is considerably more consumption, even if that hasn’t been the overall trend in your private practice.

Last time, we talked about some marketing ideas for your private practice during the holiday season. Here are some more:

PR

Make sure the deals that you offer are noticeable and enough people know about them. A commercial campaign that will reward any participant that buys something, or invites a friend to do so—and a lot of marketing related to the idea of giving.

Rewards and gifts
If it is within the realm of possibility, it is a great idea to come up with a game or an activity, either on a specific date or through the course of a couple of days, when it is either easy enough to win some reward, or you are willing to make gifts on the event to the people that have completed a certain small task. This will bring in people that are willing to shop again, especially if they like the product. Furthermore, because of the gifts, they are more likely to want to return the thoughtfulness.

Growth can be driven through any social games and clever experiments that your marketing can come up with— people really enjoy ingenuity.

Christmas Spirit

You cannot expect people to be willing to buy gifts for others if your venue does not scream that it is Christmas. The decorations—on and offline— are very important, and the earlier you put them on, the better. Lights are also a great idea if the product that you sell allows a more cheerful environment, and if it will benefit from it. A good idea might also be to make your employees wear an accessory that reminds people of Christmas. Not a whole costume, but just one thing, like a hat, that serves as a reminder. Nevertheless, it’s very important that the customers are in a state where they feel that Christmas is coming.

It is perfectly normal for companies to have bigger growth during Christmas time, as there is considerably more consumption, even if that hasn’t been the overall trend during the whole year.

This is partly due to the fact that customers are more willing to consume and buy gifts this time of year, regardless of reduced prices.

Christmas time provides an opportunity for your marketing strategies to take effect, because of the cultural and the societal pressure that is put on people to consume.

Nevertheless, in most cases, in all industries that register growth during Christmas time, there is often a reduction of profit shortly after the celebrations have passed.

This is why you might want to increase your chance of profit by taking the necessary steps to growing your private practice for January NOW!

For more on private practice growth visit us at PerfectPracticeWeb

Christmas Time: Private Practice Growth, Part 1

This one Private Practice Growth tip can make you lots more income and save lots of time this month.

And that is Target your market in order to get the most out of Christmas in private practice.

Christmas season is, and has always been, about giving, travelling, celebrating, spending time with family and friends, and spending money on gifts.

While you may be focusing your attention on the first few things, the Christmas time company growth that occurs during December is far from negligible.

While social media really gets into marketing of products this time of the year, there are lots of ways for companies to make great profits during this season, with and without using social media. This is important because there are a lot of ways to market and sell your wares.

The question is how to better target your market in order to get the most out of Christmas. Here I’ll share a few ideas on how you may drive growth, especially around the winter season.

Discounts

People love to shop, especially when it comes to Christmas presents. This is a great opportunity for you to add discounts on inventory that you consider old, that you may soon completely lose if you don’t take action now. This is why you should offer a discount on it, minimize profit, and you will see magic happening when people start buying your product more and more. Also make sure you mention the percentage of the discount and make sure you have the old price crossed through with a straight line just to make sure your customers are aware of what a great deal you are offering to them.

Packaged deals

If you do not a lot of inventory, and you really cannot cut down on the price of an item, there is nothing to worry about. You can always pack up a couple of different products that you offer in your private practice and come up with a price for all of them. You can also make arrangements with another company with similar or complimentary products and offer a packaged deal on some of your products.

For more on private practice growth visit PerfectPracticeWeb

How Do YOU Make Your Private Practice Decisions?

Don’t get your specialized knowledge from professors who failed in private practice or colleagues who are struggling!

One of the things we encounter in all business, especially private practice, is that major decisions are often made by individuals, not large committees.

Unlike large businesses that have a Board of Directors to call upon, it usually is the private practice owner who is in charge of making the most critical decisions.

For example—who to hire and why, which marketing programs may be most effective, or what other components should be added to a private practice.

All of these are decisions that need to be made, but they need to be made with clarity and focus.

Too often, as consultants we find private practice owners have gotten into trouble by making hasty and ill-considered decisions, often without the benefit of somebody who has extensive experience.

Perhaps, this is the most vital role for seeking the services of a consultant.

For example, when we launched our multimedia-driven neuropathy and chronic pain patients’ outreach, we sought out the most experienced consultants and technical consultants in media, publishing, etc.

And, we went right to the very top.

In fact, the hallmark of all great executives is that they are not afraid purchase specialized knowledge.

Specialized knowledge, as Napoleon Hill wrote about extensively, is one of the key things that separates the greats from the rest.

So, where did you get your specialized knowledge from? Was it from professors who failed in private practice or colleagues who are struggling?

I would respectfully suggest that this is one the most important decisions you can ever make; be clear here!

And also vow to make this the most important decision, with focus, clarity, and commitment to purpose.

You will be glad you did.

For more on private practice building go to PerfectPracticeWeb

Could this be the Missing Link from Your Private Practice Success?

As we both know, building a large, powerful private practice is not simple. It does require a variety of skills.

Once upon a time, over 30 years ago, one of my early mentors told me to never come to the office with a bad attitude.

Other than the obvious reasons, why would he say something like that?

What he said next blew me away. He said, “Come in with a bad attitude and watch the number of cancellations rise. Come back with a great attitude and be busier than you can handle.”

Now trying to examine this statement on the surface, it seems preposterous. Are there doctors and therapists who are gruff with their patients, but still fill their practices to the brim? Yes, but more than likely a practice fed by the public or third-party pay health care system.

But as you well know, or are starting to figure out for real, is that the private practice of healthcare is a radically different arena than the public system.

This is especially true when patients pay for much all or more of their care directly out of pocket.

And pay handsomely they will, if they feel attracted to and welcomed by your presence and, in reality, everyone on your private practice team.

The opposite is so true too!

A bad attitude, by yourself or any staff member, will repel patients like oil and water. This is an absolute recipe for disaster. It doesn’t make a difference if you have been in practice for one or forty years. As we both know, building a large, powerful private practice is not simple. It does require a variety of skills. But one of the first skills I teach my students to perfect, much like I was taught many years ago, is to, above all else, protect what’s in your own head, to build the private practice of your dreams.

For more on private practice success visit PerfectPracticeWeb

Private Practice Growth “Secret”?

Implementation and Management of Systems is the Most Powerful Private Practice Growth “Secret!”

Undoubtedly, the single biggest failure in Private Practice is the failure to stay in touch with not only your patient base, but also all potential referral sources.

Commonly I am asked, “What is the most powerful way to get my practice re-energized; to really get things moving along again?”

Before we talk about that answer though, let’s understand completely that if you’re having this conversation with yourself, something essential is missing from your practice systems.

You see, the longer you are in practice, the easier it should be to maintain patient volume and income. If this is not the case, it simply means you have failed to communicate the value of your services to a significant number of patients. And the same is probably true for your community, as well as your ally professional referral sources.

Another critical mistake is failing to understand the effects of pricing on your profitability. Too often, we underestimate the amount of patient visits necessary to not only maintain profitability, but also allow for things such as new equipment, regular savings, retirement funding, ect.

Undoubtedly, the single biggest failure for practice owners is the failure to stay in touch with not only your patient base, but also all potential referral sources.

And this needs to be done through variety of methods. You also need to communicate differently to prospective patients than you do with existing patients.

But once your systems are set up and in place, they simply need to be tweaked and maintained.

You will have to account for societal changes following the outside world, but also in other areas that move very rapidly, such as the social media.

There are also many other things we could put into this category. This would include your hours, your decor, and especially the maintenance of these. Staffing, of course, is a crucial and very closely-aligned issue.

So, as you can see, implementation and management of systems is the most powerful private practice growth secret!

For more on Private Practice Growth visit PerfectPracticeWeb.com

Private Practice Owners- Expect More!

Too many private practice owners are trying to apply old formulas to new problems

Honestly, you need to be expecting more from yourself.

Many years ago Jim Rohn once said, “Success leaves clues!” Tony Robbins is often quoted as stating the same.

Is the reason for this is quite simple. The fact of the matter is that success in life AND private practice is formulaic.

The problem is however too many private practice owners are trying to apply old formulas to new problems. This is not a good strategy and often times will fail.

We can complain all we want about third-party reimbursement, or lack of, government regulations, difficulties with staff, equipment etc. But complaining will not change results.

Only appropriate action steps will change results!

But how do you know what’s most appropriate for you? Often times you don’t, especially right away. This is why CEOs in any great industries, have teams, teams of consultants, and other officers to help them make decisions.

As it turns out, private practice owners can adapt the same strategy. In fact, when you do adapt decent strategies to your private practice you will find yourself feeling more supported, and perhaps even more satisfied at any other point in your career.

The reason for this is simple. Like it or not your practice is a business.

A serious business.

But the problem is professional college does not train us for the decisions we need to make, nor does it give us the skill sets that we must have.

This has never been truer than it is at this particular moment in history of healthcare. So the question I leave you with today is what are you going to do about this?

Our team is ready to help! This is what we do all day long.

Nowhere else in the private practice arena what you find progressive and cost-effective approaches to not only dramatically improving the quality of care to patients, but improving the quality of YOUR private life through having a thriving, profitable and fun private practice.

We are ready when you are! All you need to do is to ask.

For more visit us at PerfectPracticeWeb.com

 

Stuck in Private Practice? Begin Your Transition, Part II

Part II

Capture and record your thoughts. This is so important! Keep that pad and pen handy! The more you can organize and focus your thoughts, the better the results–in your private practice, and the rest of your life–will be.

Where to begin…

You’ll need just three things.

Space. You must have dedicated quiet place to go. Could be an elaborate vacation, or simply a parked car, or a rock in the woods or at the beach. In this space, you’ll also do some fun things.

Regularly.

Really. I ride my motorcycle, take the boat out, or go for a run or ski day.

Time. You must have dedicated time to do this. Non-cancelable, uninterrupted, no distractions. Phone off. No limits. You might need 15 minutes, you might need a month…

And a blank pad of paper. If it’s been a while since you’ve done this, maybe several.

And then it happens.

When not forced, you’ll know exactly what to do next.

The Final Steps

Capture and record your thoughts. This is so important! Keep that pad and pen handy! The more you can organize and focus your thoughts, the better the results will be.

Put it on yourself, but be gentle! Acknowledge what you’ll do better with your current vantage point. We all make mistakes. Do not beat yourself up.

Ask for guidance. Bounce ideas off people that dream big, and will not bring you down!

But the biggest thing is to continually be moving forward, with each new day you are privileged to live.

And it’s easy.

But only if you have that design. A detailed plan will benefit both your career in private practice and the rest of your life.

For More information visit us on PerfectPracticeWeb.com

Stuck in Private Practice? Begin Your Transition, Part 1

After a while, what was once magnificent and exciting seems dull, boring, and very routine. We sometimes so easily forget the sacrifices we made to get where we are in private practice.

I think one of the most powerful—but scariest—things we do as achievers is create a compelling future life, and then watch it actually start to unfold right before our eyes.

Think about it. If you are a doc, you did this as a student at several levels. In reality, many times. In fact, at one point it was probably term-to-term.

Then you opened your practice. Still way more changes; lots of excitement, new ways of doing things, patients that challenged every skill you thought you forgot.

So, you know you have the power to create magnificent changes.

Getting Stuck…

After a while, what was once magnificent and exciting seems dull, boring, and very routine. We sometimes so easily forget the sacrifices we made to get where we are. High school, undergrad, and on and on. The daily grind is just that. If it’s not practice stress, it’s kids, family, and so on.

Then sometimes we build fences and stop communicating with past friends. We can also become very rigid in certain habits, especially mental habits, sometimes getting really, really stuck.

Before we know it, it seems like years have passed. If things did not turn out like you thought, it’s easy to just give in and say, “Oh well.” We start to live by default.

That’s when its not pretty.

Feeling Unrewarded…

This is perhaps the most dangerous of all places to be, because by its very nature we tend to act without thinking, make very bad decisions, or seemingly attract one storm after another into our lives.

There is an alternative to living this way…

And that is to start over. Today! No, it does not mean you abandon everyone and everything. Too many times that’s an absolute disaster.

But what you can do is gather new perspective, knowledge, and, once again, create a compelling future! Create a new design like a blueprint and start to live from it.

But you can only successfully do this while immersed in certain thinking; have excellent guidance and others to bounce ideas off who are on your side all the way.

And, most of all, you’ll surely need to adopt certain characteristics—the thinking and behaviors of those that blazed the trails before us.

This really is the essence of living and practicing by design, not default. You will not succeed in private practice without a plan.

This is also the power of the mastermind; aligned minds working toward a common goal.

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A More Powerful Private Practice Design

There are some key strategies that both private practice veterans and new grads alike can all benefit from.

Being a consultant is a whole lot like being a detective, I imagine. I spend a whole lot of time looking at situations gone wrong too. Both business and, of course, personal issues are common to us all, and are often amplified by the rigors of the modern private healthcare practice.

There is, of course, absolutely no shame in this because, the reality is, the more we fail, the more successful we ultimately become. So some failure indeed is a great teacher—if we pay attention.

On another scale though, massive failures are very costly and very often preventable. But how?

Any great CEO will tell you that looking at trends, numbers, and sensing unease are probably three things more responsible for their massive successes than any other traits.

One of the key skills many private practice owners never acquire is full CEO functionality. Now this is not likely your fault! Our professional schools have not, with rare exception, provided the business and management training that today’s private practice absolutely requires.

So, too often we wait to make critical decisions and then a crisis erupts, seemingly out of the blue!

But you know better. You understand that it does NOT have to be this way! There are some key strategies that both veterans and new grads alike can all benefit from.

And that is spending time with the optimal layout and design.

What so many often neglect though is business and private practice design, to be successful, MUST be based around the lifestyle you really want for yourself!

One of the worst things we can ever do in life is try and live someone else’s.

Because of the natural stress levels of caring for sick and suffering human beings, unless you build or design in and adequate fun and financial compensation system, you’ll likely never have the practice of your dreams.

And you know what? It really can be this simple to build a compelling future—or turn things around if you are just not headed where you know you could be in YOUR private practice!

For more on Practice Design visit us on PerfectPracticeWeb.com

What Is Your Private Practice Direction?

As a private practice owner, your job is to behave like a CEO of a major corporation.

Do you have a solid game plan for your private practice? If not, I guarantee you your patients know it.

You see nothing succeeds like focus, direction and purpose. Too often though even highly educated private healthcare practitioners behave like “a deer in headlights”.
Most successful practitioners have daily implants, as well as contingencies to account for unforeseen situations. For example, what do you do if your chief staff person suddenly becomes ill or unable to function, possibly leaving you stranded? Do you have a contingency plan? People ready in the wings you can call upon? The same thing goes with your finances. Are you setting aside enough cash to account for unforeseen events and circumstances?

And what about your most important asset, your emotional capital, is your next vacation well planned? Are your goals highly visible, giving you something to work very hard for on a day-to-day basis? Do you leave the office feeling rewarded, like you’ve put in an excellent day?

Does your daily compensation foster this, and make you a better private practice owner? If not, I guarantee you patients sense distress and it is not helping your practice.

Worse yet, is to spend months or years, with lack of clear focus and purposeful direction. Too many private practice owners pay a huge price for this.

So what is the solution? The solution is to start to behave like the CEO of a major corporation. You need a solid game plan, goals, direction, and coaching. As a private practice owner, this really is your only job.

This is why having a solid team, and coaches on your side can make a tremendous difference.

Look at any CEOs Board of Directors, or any athletes coaching staff.

You see what I mean? So how about you?

For More on Private Practice Building visit us at PerfectPracticeWeb.com 

 

Step By Step Implementation Game Plan

Health care. KeyboardOne of the biggest issues in private practice done right, is developing a step-by-step plan of what to do, and exactly when. I am often asked by doctors, “Can you please tell me what to do next?” The reality is, this is formulaic, and with a little effort, you too can develop a Step By Step Implementation Game Plan

Lets do this one point at a time…

1. The very first thing is to outline in writing exactly what it is you want to accomplish and produce. Yes, that’s right, your goals and targets. The more precise you can be, the better the results. Doctor, do not overlook this vital step. In private practice, you are the CEO, CFO, Marketing Manger, and most often the Team Captain. If your behavior is not congruent with these roles, success will always elude you in private practice. This is a very powerful lesson that way too many ignore. You can be the best clinician ever, but private practice success and fulfillment require much more. Always remember though, your rewards are so much greater when you function at this highest level. When you have a high six to seven figures a year practice, then you can delegate some of the day-to day management, but as long as you own the practice, never abdicate its direction and financial oversight!!!

Too many make this first and vital implementation step way too stressful. Make it easy, by just using a pencil and a notebook. It also may really help to just work in 90-day segments. Just mark your calendar to redo this exercise every 90 days. It also really helps if you write your primary goals every day if you want to accomplish way more than the average doctor. Anything you can do to make this more visual, like photos and diagrams can easily add a powerful emotional “hook”, and help you accomplish more in far less time.

2. Get in the habit of operating only off a DAILY checklist!

Again keep it easy, low stress. I still like white legal pads and multicolor pens for daily use. Typically you can make a list no later than Sunday Night for the week ahead. Next, color prioritize each of these items. Black is done, red is critical, green is underway, and blue is re-routed. Finally, cross off what’s been completed. Looking at your list with all items crossed off then allows you to move onto the next phase.

Just make sure, that your checklists include the three core components of the practice. This would include:

• Production- exactly what’s happening this week to grow production? Here, you should list out Marketing Events, patient workshops, radio show, fitness screening, etc.

• Collections- analysis of your income and expenses, and especially the trends of these two key areas to financial independence. Pick the same day and time each week to review these.

• Staffing- What’s going on with your team? Are there pending vacations, missed steps in critical procedures? A compliment to be awarded or violations of policy?

Next, you must note the appropriate action step on your DAILY checklist for all of these key areas.

3. Develop and operate only off a 90 day Master Implementation Plan. Make sure your entire team knows it, and helps hold you accountable.

One of the great simplifiers of implementation is to not project beyond 90 days, unless you are very proficient at all the above steps. For most of us, this is the precise interval to observe progress, trends and make corrections to what’s not working.

The Master Plan is the poster of every area of practice that is multifaceted. A great example is marketing. Lets say you want to start a monthly newsletter for patients.

You would first list “Monthly News” with a deadline or start date on your master plan, but your daily checklist might list, “select theme, call mailing house, fix event calendar” etc.

And that’s it! You can keep it this simple. Sure, there are many other things (advanced executive skills) you could add, but I suggest holding off until you get effective at actually implementing all the key steps to practice growth and personal freedom.

When you are ready to really take this to the next level, hire a coach.
Personalized analysis of your situation, with someone who has done it all before can pay enormous dividends. Most coaches will gladly give you a written, personalized implementation plan as well.

But recognize doctor, failure to have these basics in place first is a recipe for disaster. Don’t let this be you!

Take these very simple steps today! Your only supplies needs are a notebook, pencil, a pack of white legal pads, a multicolor pen, a poster board and a calendar.

The more consistent and disciplined you can operate in this way, the more successful and creative, and ultimately financially independent you must become.

The Final Roadblocks

Doctor sitting behind her deskThis week in our Perfect Practice Tips series we are examining the final roadblocks of the six most common to successful private practice management.

Roadblock Five: Failing to Give Patients the Big Picture

A component of practice that often seems to be forgotten today is ensuring that you are giving patients the “big picture” of health. In order for a doctor to be effective, the doctor must live the message they are attempting to communicate. This includes practicing and advocating lifestyles and systems of health care that promote long-term health, fitness, overall life satisfaction and personal fulfillment.

Some of these components may include the practice of well patient care, dietary supplements, massage, fitness programs and physical therapy. The doctor and his or her team must be effective at sharing this extraordinarily valuable information with their family and friends, children, and the community at large.

Roadblock Six: Failing to Make Time For You

One of the biggest factors that leads to burn out and dissatisfaction among doctors in practice stems from not having enough time away from the office.

The reality is that maintaining a private practice is extremely physically and psychologically demanding. It taxes your mental and emotional capacities. There is no way that you or I will ever perform to our fullest potential if we are not rested and completely healthy.

So here is the big idea: Strive to become more efficient in every aspect of your practice management.

Your goal should be to increase your efficiency and effectiveness in the office so that with each passing year you see more patients in less time.

This will allow you to take a more balanced approach toward work and personal time. You can then pursue other interests in your time off that help to keep you fresh and passionate about what you do, for many years to come.

Keep in mind that failure to think critically about all of these issues and their long-term impact on your personal goals and lifestyle will have a significant impact on many areas of your life.

This is why I continually advocate that the doctors of the future must continue to Practice by Design™, not by default.

If you would like to know more about our how to create a Practice by Design, please visit our website!

Dr. John Hayes, Jr.
Perfect Practice Web
http://www.perfectpracticeweb.com