As a practice owner, you have one of the hardest jobs in the world – balancing clinical work whilst running your practice day to day and, ensuring you stay in business.
It’s a lot to do. It’s stressful and keeping up with it all also means other parts of your life come last. Often it means sacrificing precious time with family and putting your own needs last. Your wellbeing as a private practice owner is vital to for you and your patients.
It is entirely possible to overcome these problems and move from a place of stress and chaos to organised bliss – it all comes down to structure, systems, good planning and an understanding of your numbers so you can create a healthy practice.
What does a healthy practice look like, and what difference would it make to your life?
- There is a clear long-term direction, vision and purpose
- It provides exceptional care and service to patients
- It has documented processes, and everything is performed consistently and routinely
- Systems are as automated as possible limiting reliance on staff
- The practice can run without you around
- Your team is professional, highly competent and connected
- You have a clear financial plan in place and you know your numbers
- There are no cashflow problems
- You are happy, in control and able to choose when and how much you work
- There is purpose to your work and you make a difference to your community
How do you improve your wellbeing as a private practice owner?
- Start with your goals – how much money do you need to make and how many hours do you ideally want to work.
- Develop your practice plan, and identify your ‘why you’ – what makes you different to your competitors and why would a patient choose your practice over another
- Streamline and automate your practice processes. Create structure and ensure everything is carried out consistently and methodically with great processes.
- Understand your financial and non financial numbers – how is your practice going financially and identify what you could do to improve that. It’s not always about more patients or growing bigger – often improvements can come from about being smarter with what you already have.