Investing in your healthcare business

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When most people hear the word “invest” they automatically think money. However investment is more than money, if applied correctly it can also include time. Most healthcare business owners complain about not having enough time to work “on” the business. The reason for this common complaint is the fact that they don’t have the correct systems in place and are unwilling to adapt to the ever changing healthcare landscape. If you work for two hours per week on any of the previous articles I’ve wrote over the course of a year your business will grow. As it’s a healthcare business it would increase over a steady period, let’s be conservative and say you improve by 1% per week. If you’re seeing 25 clients a week at present, say 5 per day and you consistently improve by 1% each week, then after one year you will be seeing over 40 clients a week! After  two years it will be 70 clients per week. Don’t believe me?  Click here to see example showing the simple figures. Results in this industry are not instant, if you’re not in it for the long haul then go do something else with your life, because you have to enjoy it.

Systems: We’ve all heard the phrase you can’t make a silk purse from a pigs ear, well it’s the same in the healthcare business. If you want more time with your family and a more organised, profitable business then you need to have the right systems in place. If you’re still using paper notes or a system that doesn’t allow automation then you need to ask yourself the question why do you love hardship? You can save yourself at least three hours a week with a better system and improve your marketing strategy. Make the change

Consistency: Once you’ve the right system in place then you might think…Yep that’s me, I’ve made it. WRONG! At this stage you need to ensure all your staff have regular training on your systems and understand the policies and procedures for you clinic. There’s no magic product that’s going to send your sales through the roof, it’s all about doing the basic boring things correctly over and over again.

Discipline: So after a year you think, yep I’ve got the right systems in place and I can take it easy. Again you’d be WRONG! You might start running late with appointments, not wearing your name badge, forgeting to email your clients the info you said you would email them, not entering all your payments etc. Basically not doing what you said you were going to do in your business goals and principles.

Actions: Knowledge is great, applied knowledge is better! You can read all the business books in the world but unless you apply the principles discussed in the books to your business or life then nothing will change. Applying the principles for the first week will not work, it needs to become habit – see consistency and discipline above. For every action there is an equal and opposite reaction, this is basic physics but it also applies to business. Do substandard work and people will talk, go above and beyond for your clients and they will also talk. It’s up to you what chat you want them to have with their friends and family.

Improvements are slow but in order to get improvements you need to invest time and sometimes a little money to get better systems! With good systems you’ll always be able to measure your return on investment. Adapt and grow or get out of the game!  At PracticeNav we have all the information and know how to develop a system to suit your business. Take our Online Audit which gives you instant results, or you can contact PracticeNav via email on info@practicenav.com to find how we can help. Feel free to ask any questions in relation to this.

Colin Phillips
Business Consultant
PracticeNav

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