Some ‘key’ mistakes while developing your practice plan can cause your new clinic to fail; lack of research and lack of preparedness. Avoid becoming another failed clinic by making sure you don’t commit to those mistakes and the following:
Critical business skills
Here are 5 areas of critical business skills that you need to successfully run your clinic:
1. Know your numbers…
• Accurate bookkeeping with full accrual accounting on a monthly basis.
• P & L reports
• Budget, balance sheet & cash flow
• KPI monitoring
• Monthly meetings to assess all the above
2. The right clinical & reception/admin staff
• Simple organisation structure with clear lines of authority & accountability.
• Clear documented job descriptions, employment contracts & performance reviews.
• Inability to change
• Failure to communicate the plan to your staff (clinicians & reception staff)
3. The right processes.
• Strong systems with fully integrated end to end processes.
• Up to date technology.
• A big vision clearly documented.
• Steps outlined to reach the vision.
• 20% growth per year – that is the goal.
• Strong effective marketing strategy.
Over the next few weeks will ‘dive deeper’ into each of the above.