World-class patient care is no doubt the ultimate goal of your practice. But you can’t provide excellent care if your practice isn’t operating well, too. The business side of your practice must be strong and efficient enough to sustain and support the care you offer patients. The two are intertwined, and you need to cultivate both simultaneously.
The patient experience
Patient care is your primary purpose and, as such, it should be at the heart of your business strategy. Survey patients regularly to determine how they feel about the practice, and what they see as its strengths and shortcomings. For example, if patients complain about having to constantly reexplain certain details about themselves, consider investing in medical customer relationship management software to better track appointment notes as well as patient preferences and interactions.
Developing efficient scheduling practices will help improve the patient experience as well. Long wait times tend to upset patients, leading to negative online reviews and potentially fewer people choosing your practice when they search for a physician on the internet. Analyze the number of patients you’re seeing daily and how long you’re spending with each. Your goal is to determine whether the number of patients you’re scheduling per day is realistic.
Staff satisfaction
If patients are your practice’s most valuable asset, figuratively speaking, its second most valuable is your employees. So, carefully and thoughtfully invest the money and time in ongoing professional training and development for you and your staff.
Make continuing education — both medical and business — a priority and part of practice culture. This includes training on not only any hardware or software the practice uses, but also other relevant topics through webinars, online courses and medical conferences.
In addition, offer competitive pay, benefits and, as much as possible, flexible schedules. Let staff know they’re appreciated.
Analytics and improvement
“If you can’t measure it, you can’t improve it,” is a common business adage, often attributed to W. Edwards Deming. Whoever said it first was expressing the simple truth that, to improve something, you’ve got to know precisely what needs to change and by how much. Stay on top of billing practices and key financial indicators, such as accounts receivables and insurance-claim rejections, which you should evaluate weekly and monthly.
Take a hard look at your practice at least annually and evaluate what’s working up to expectations and what you should improve. For example, if you find your inventory isn’t keeping up with demand, consider buying inventory management software.
A multifaceted approach
Your medical practice requires constant care to ensure it continues to thrive. A multifaceted approach that addresses all aspects of your operations will keep it thriving over the long term.
Content from Thomson Reuters