5 Things Your Practice is Missing for Better Profitability (And What To Do About It)

Professionals and Experts are Bad at Business Processes: Lawyers, Doctors, Accountants are just not trained to run businesses as entrepreneurs. Why? Because training in these professions is focused on skills and expertise, as it should be, but very little economics is taught, very little management is learned and once you start practicing, a busy practice leaves little time to catch up. Although we expect that our license and our expertise will just bring in the revenue, it’s usually not that easy.
There are some simple things you can do to create a profitable practice that generates more income per patient while giving patients much more care than you’re giving them now:

The 5 Things:

1. Reduce the number of care offerings
2. Create simple processes all staff can follow easily
3. Don’t delegate those processes prematurely
4. Don’t miss indirect referrals and revenue
5. Offer care that is holistic to the patient AND your business.

Focus on these things and differentiate your practice with better patient communication to create loyalty, longer patient life cycles, referrals and revenue.

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