Now you could probably tell from the picture that accompanies this post that something isn’t going too well – maybe it’s a husband and wife discussing their present financial situation, or perhaps it could be a practice owner and her manager stressing out over last month’s collections – whatever the case – it doesn’t look too good! Here are the top five reasons we’ve come across as to why practice owners become disenchanted with being in practice, become depressed about their choice to become a healthcare practitioner altogether, or just have assembled their practice in such a way that has led them to paint themselves into a corner.
NUMBER ONE: You don’t treat your business as a BUSINESS!
There are so many healthcare practice owners that we’ve had the opportunity to speak with and once hearing them out, the way they describe their situation in practice – it sounds like they’ve created a very expensive charity and liability for themselves. They want to do well for themselves, especially after years of struggle and overwhelming investment, but the problem is that they’ve created so many bad habits being in practice for so long that sometimes, scrapping what they’ve created and starting over from scratch is their only option. Sad to say this is very common and is quite the norm for many practice owners. So, treat your practice as the BUSINESS it is and know your numbers and the math behind your practice. What you’ll also need to account for and this is something that we are adamant about teaching our clients is what we call resource management. The four main currencies or resources that we consider and discuss before any action taken are TIME, MONEY, ENERGY and HAPPINESS. If you hastily take action without taking these finite resources into account, well, you get what we’re talking about here – you’re not treating your business resources as a significant part of being in business and just blindly going for it – which rarely ever works, causes a ton of unnecessary headaches and frustration, and quite frankly, leads to not only burnout but a trip to the poor house! Don’t let this happen to you!
NUMBER TWO: Another reason why practice owners fail is that they don’t cater or sell to their prospective patient’s/client’s needs and wants, what they do instead is try to SELL HEALTHCARE SERVICES.
And we’re very sorry if we need to be the ones to break it to you, but people DO NOT WANT TO BUY HEALTHCARE SERVICES! They WANT a solution to their problems! If you’re flooding your Facebook or LinkedIn stream with cute little memes about your given field, STOP IT! Learn how to communicate your care and services in such a way, so they are tailored to the wants and needs of your patients/clients! Of course, this topic goes very deep, and there’s lots of information and data that we teach our clients, so don’t let the simplicity of what we’re about to say fool you, but the plainness of it is this: People want and need to know the following four things that will determine whether they do business with you.
Number one: Can you help me?
Are you giving them a solid, sound physiological understanding of what they are enduring and need help with or are you shoving your philosophy down their throats expecting them to believe what you believe? Sorry, but that just isn’t needed or wanted. People don’t want to be convinced and indoctrinated! They want to be helped. And if you can’t articulate how you can help them using sound physiological concepts leading to an objective clinical outcome, you shouldn’t attempt to sell them into care.
Number two: Do you care about me?
This should be obvious. If you don’t honestly care, not only will your prospective new patient/client perceive this, and you shouldn’t be selling them into care.
Number three: What will this cost me?
This is a significant area in which we work with our clients; training them how to talk about finances in a very upfront manner with patient/client financing options that could cover anyone seeking care, and without compromise to your bottom line.
Number four: What amount of time and energy is this going to require of me?
This is where you will have to master your consult/exam and report so that you can articulate and reveal the legitimacy of your recommendations for care. You MUST be able to provide the full course of care and have it be accepted for you to get the results that you want and need for your patients/clients.
NUMBER THREE: The third reason for flunking in practice is that you have not reverse engineered your goals – assuming you have set goals for yourself which many practice owners don’t!
Now, we’re not talking just about the weekly stats. We’re talking about your ability to set a clear path for yourself in first determining what YOU want out of being in practice and then a highly detailed reverse engineered plan to get you there. We’ve already built out the software for our clients that allow them to expedite their process and strategy of achieving their goals, but before they can take advantage of our system, we must first dig in and ask ‘What do YOU want to get out of being in practice?!’ Sounds elementary but healthcare practitioners are selfless to a fault! It’s only until we pull their ‘WHY’ out of them do they then start to open up and discuss what they want out of all the time, money, energy and high-stakes sacrifice they’ve endured becoming a practitioner in private practice. It has to be worth it for YOU! You deserve to be successful!
NUMBER FOUR: And lastly; incorrect acculturation.
Acculturation by definition is the cultural modification of an individual, group, or people by adapting to or borrowing traits from another culture. If the culture that you have created for yourself, your staff and also your patients only serves them but not yourself, you’re going to have a MAJOR problem – and if not now, it’s just a matter of time. Maybe you’ve compared yourself to another colleague, perhaps you’ve tried to emulate a specific technique, or maybe you’ve borrowed bits and pieces of a practice culture that you think you would like to recreate, but somehow things aren’t working in your favor. The reason for this is that what you create has to be whole. It has to be consistent and harmonious all the way throughout. It has to make sense in numbers because the numbers never lie. It has to fit – meaning that the logistics of what you are setting out to do, again, the four finite currencies or resources, have to drop into alignment and your plan needs to be feasible!
All our best,
Jonathan, Marisan, Troy and Geramy
The Art of Practice Prosperity Team
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