Critical Practice Foundations

Critical Practice Foundations

The Basics

Most doctors, when starting their practices, miss some of the basic actions that should be established prior to opening.

An owner of a healthcare practice should always, as a first step, work out the following basics: their purpose as a practice owner, the actual product of the practice, and the statistics that will measure the success of the practice.

Below are examples that you can modify and use for your own practice.

Purpose of the Practice Owner

The owner’s purpose is to establish an efficient health care practice that delivers quality service to its patients and/or clients and to have a very solvent and viable practice that provides an enjoyable place for the staff to work and a high quality-of-life for the doctor/owner.

Once the purpose has been established, it is the owner’s responsibility to set the direction and the pace for the business and to demand that the valuable final products of the organization be achieved. To do that, she/he must work out what the product of the practices are. Here are some examples of products:

  • A solvent, viable, expanding practice that delivers high quality care and service
  • Satisfied patients and clients who have received high quality care and service
  • Statistics
  • Number of active patients/clients
  • Production
  • Collections
  • Net Income
  • Solvency (the amount of cash versus the amount of bills owed)

Putting the purpose, product and statistics in place will help create a strong foundation for the expansion of your practice.

Getting your staff on board with you is another part of this process.

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