Tag Archives: Medical Training

Four Action Steps That Will DESTROY Your Practice

Four actions that will destroy your practice. Avoid them at all costs.

1. Dishonesty-Sadly when economies turn south, good people sometimes do bad things. When you are in a position to sign insurance forms, disability forms and accept credit cards you have been given a huge social and legal responsibility. Not only is it your ethical duty to protect the patient but it is also your legal duty. Dishonesty always starts small and then mushrooms out of control. Never think of padding a bill, falsifying records, or charging a credit card improperly.  Everyday we read of business leaders and doctors who have lied, cheated, and stolen assets of innocent victims.They never believed that they would get caught. If you are doing dishonest deeds cease immediately.

2. Poor Management– Many practices are brought to their knees because the doctor did not know how to run a business.It is imperative that you know how to run a business. If you are bouncing checks, paying late fees and don’t know how to read basic financial statements learn as quickly as possible.

3. Patients are not Relevant- Are you rushing from room to room? Are your patients waiting more than ten minutes? Does it take you more than 24 hours to fill out requested forms? Your practice is based on your patients. Excellent customer service is the key to having them come back. You must make your patients feel special on each and every visit.

4. Refusal to Hire the Proper Advisers– Business owners fail to realize that the money that often think they are saving by doing it themselves ends up costing much more in the end. Did you spend money on marketing this year? Did it yield the number of new patients that you expected it too? Did you get at least a 4:1 return on investment? Strategic-based marketing is the key to improving your marketing efforts. Learn how to create a UVP and how deploy strategic campaigns and I am confident that you will be very happy with your results. Never be your own attorney. I spend more time trying to get doctors out of bad leases, partnerships, and deals that they made by being their own attorney. Had they hired the attorney in the first place they could have saved a ton of money in the long run.

Like it or not you have spent or you will spend more money if you act as your own: Attorney, Accountant, Business coach, Insurance agent, or Compliance expert. Each of these professionals you will either hire willingly and invest money with them to help you grow your practice and protect your assets or you will pay via mistakes. According to statistics, people who hire professionals make or save more money than those that do not. Our clients have increased their income 145% since 2008 with the help of coaching. People who use investment advisers statistically earn an additional 3% on their portfolios after paying their advisory fees.The lesson-hire professional to help you.

By preventing and or limiting mistakes will put more money into your pocket and allow you to deliver better care to your patients. Remember mistakes cost you time, money and energy. If you made a mistake and you are now worrying about it, your worry is taking precious time away from your patient which could and usually does lead to a down-turn. Remember to always practice PTC (present time consciousness).

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Effective Report of Findings Steps to Elicit a Commitment From the Patient

How much time do you like to spend at a doctor or dentist’s office? How about the Department of Motor Vehicles? How long do you think your patients want to spend in your office?

Trust me when I tell you they don’t want to be in your office any longer than is absolutely necessary. The consultation and ROF in my opinion are the two most important procedures when starting with a new patient. It is where good or poor habits are begun, as well as it is where a foundation of trust or mis-trust is established.

Throughout the years there have been many methods of ROF that have been advocated and taught. There are video programs, scripted programs etc. In this economy it is vital that your ROF have the following steps. Today, people are working 3 and 4 jobs. Yes 3 and 4 jobs just to make ends meet. This means the luxury days of having “time” to do a 45 minute ROF are yesterdays procedures that will not work as well in this economy.

Your ROF should do the following:

1. Answer the question what is wrong with the patient?
2. Answer the question can you help the patient?
3. Answer the question how long will it take?
4. Answer the question how much will it cost?

There are many styles of presentation. It is your choice how in depth you want to go over the exam findings. One thing for sure is you must learn to re-frame your patients away from pain and symptoms;  or,  when the pain goes away so will they.

It is vital that you ask for and receive a commitment from your patient that they will follow-thru with their treatment plan.

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How to Keep Key Practice Statistics

Looking at your speedometer gives you information. Information is power and when it is used correctly, it can make or save you lots of money.
The same can be said of your practice. What gets measured will be looked at more closely which will enable you to make instantaneous corrections.
Remember, monthly stats as well as year to date (YTD) stats should be kept. Here is a list of the basic stats that you should be keeping:
1. Number of days worked in a month – You can’t compare a month that has 16 practice days vs. a month that has 21 practice days. By knowing this stat, it will enable you to compare apples to apples.
2. New patients
3. Services rendered
4. Income (collections)
5. PVA (Patient Visit Average) – Office visits/new patients (the longer the history of this stat the better)
6. OVA (Office Visit Average) – Services/office visits
7. Accounts Receivable
8. Patient cancellations/reschedule – Tells you how well or how poorly your procedures are working
9. Patient Attrition – Lets you troubleshoot where the problem is (consultation, ROF, re-exam, etc.)
There are some more items that can be included. These are the bare bones minimums that all practices should keep.
I know that there are many practitioners that don’t keep stats. I find those that don’t keep them, don’t know how to use them. It’s like any other tool in our tool box. Know how and when to use it and it will serve.

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How to Make Your Practice Stand Out

The “wow factor” has always been an important component in personality driven businesses like health care. Some people have natural abilities to “wow”, others need to learn those very necessary skill-sets.

It does not matter if you are a medical doctor, dentist, chiropractor, physical therapist, enzyme therapist, or any other health care provider, the following tips will help you develop the “wow factor”.

  1. Use the Local Press-contact reporters of local newspapers, monthly magazines and television stations and offer newsworthy information in your area of expertise. For example an enzyme therapist might direct reporters to recent evidence that a new type of protease can help digest gliadin, the protein responsible for gluten intolerance.
  2. Write a Book-America is in love with authors. 90% of talk show guests are there to promote their new book or movie. Today anyone can publish a book with self publishing services for as little as $1000.00. Being a published author, gives you credibility in your patient’s/client’s eye. For example a physical therapist can write a book How Posture Affects Your Health. Give personalized autographed copies to your patients. Sell others on your website. Books become great marketing pieces while establishing a huge “wow factor”.
  3. Always give more service than patients pay for– Anthony Robbins tells the story, “There was a bean counter that people would come to from far and wide because he always gave a scoop and a little more.” I am not advocating giving away free service nor extra time. What I am advocating is giving service that will wow your patients. For example, I always give my patients my personal cell number and instruct them to use it if they need me for any clinical reason. I ask them to be respectful of the number and not to use it to change an appointment etc. This sets a nice boundary and they really appreciate the “wow” service.
  4. Be Charitable-I am not saying to be a charity, but please be charitable, there is a big difference. Being a charity is treating people for free. Being charitable is always looking for ways to help another person. For example help people with their problems. I once had a patient who was having difficulty paying her rent. I offered her advice how to approach her landlord. She was happy, her landlord was happy and it gave me a “wow factor” in both their minds.

You will find that by creating a “wow factor” experience in everything that you do will come back to reward you and your practice over and over again.

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