The Future of Private Practice

Lately, my most enjoyable consulting time spent with my clients has given me cause to look back on all the events in private practice during the last several years. Lots of what I first wrote about the future of private practice in “Practice by Design” (2007) has come to pass. Future Shock is here, and as Toffler observed, may very well be modern man’s most serious psychological affliction.

The most striking thing I warned practitioners about was that unless you clearly handle finances in private practice, patients are gone! Especially in the scared and frightening media driven economics for so many of those we serve. You need to be crystal clear, and also priced for the realities of your own future! 

Are you serving humanity to the best of your abilities, and at the same time selling higher tiers of care to those who want and will gladly pay in full? Not everyone wants or needs a Rolls Royce, but they still make and sell plenty of them.

Patients are no different, when unique service is needed. And wanted. Help give them their health back, teach them how to maintain it, and it’s the greatest gift ever. Literally, they get their lives back!

Unfortunately, way too many practitioners still fail miserably short as professionals (because of their thinking) in this regard and wind up stressed out, unrewarded, and sometimes out of practice.

Be sure to stay in close, regular contact with past patients, and all your referral colleagues. Especially when the economy tanks. Don’t panic and cancel marketing expenditures. Marketing might cost you $2000-5000/month, but you’ll likely might generate 15k-50k more/month for your efforts!

The next big thing is continuing to staff the practice efficiently. I guarantee, no one’s going to be there to bail you out.

Don’t get me wrong. Excellent staff that help drive the practice are worth every dollar. But are you sacrificing your own future because of poor or antiquated decisions, or just not handling willful non-compliance?

What too many doctors will also need to fully develop and integrate is their information and data management systems into autopilot style marketing. This includes a powerful web presence in many parts of he country.

Just ask your next new patient where they found out about you, and you’ll quickly see what I mean.

Finally, change is perpetual. This year is such a powerful example. Your practice as a business is no different.

If you’re up to the challenge, I welcome the opportunity to help you build your Perfect Practice 2.0.

I wish you the best along your journeys!

Want to learn more about how to build your private practice?

Then Join Me for a free strategy session HERE

Have a great day!

JPH

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