Are you letting outside influences discourage you from thriving in private practice?

Get Step-by-Step guides on how to handle the business side of your private medical practice without the fear of third party interference.

Which stage do you need help with in your practice?

What would you do with an extra 500 hours?

Private practice is under siege. Value payment initiatives like MACRA/MIPS, Insurance Payers, and Frustrated Patients result in over 500 hours wasted per year of your precious time. If you are ready to take action to succeed as an independent practice you came to the right place.

Modern healthcare is a constantly changing beast.

Modern medicine seems like a giant conspiracy sadistically crafted by the government and the big profit motives of insurance companies. Outside forces are always telling you how to treat your patients and trying to pay you less.

With new payment and practice models changing, it’s more important than ever to identify the factors that are dragging your practice down.

Flesh out the silent killers

Rising out of pocket costs for patients, poor coding, slow billing, bad follow up, and staff conflict can all impact your practice over time.

These are a few of the silent killers that lurk in the background when you are just struggling to keep up with the workload of a busy practice. These become the chronic challenges that slowly erode your practice and keep you working harder and making less and less over time.

The good news is that when you identify the problems they have direct solutions.

The business side of medicine is not like learning Organic Chemistry

If you’re like most physicians I know, you didn’t study business in medical school.

Instead, you sacrificed your time, maybe even your friends and your health to become the best clinician you could be.

You did it out of passion and your mission to help. You’ve worked painfully hard to get where you are today. However you did it, there was a huge cost to you.

One day, you decided to go out on your own and start a practice…

…and eventually, you got hit with the reality that you’re running a business.

No one told you that you would have to have to choose between working very long hours or living on less money. You thought being in Private Practice was about having the freedom to practice on your terms.

Then, over time, the silent killers started to take over.

And you felt like you lost control. Staying up late every night to finish documenting patient visits, rushing from room to room seeing patients, and putting out small fires for your staff.

In order to have control of the moving parts of your practice you must be able to see the forest for the trees.

But you can't direct the stream if you are caught in the current.

So how can you control the business side of your practice
and not sacrifice patient care?

Because medicine has become a volume driven industry 81% of all practices claim to be at or over capacity. This results in being overwhelmed by daily tasks and making it impossible to keep your eyes on the road of where you are headed.

You must begin to make smart business decisions from real information instead of emotional decisions. Eliminate the feeling of being on a treadmill you can’t get off.

20% of all work spent is on support tasks such as EHR charting, referral authorizations, billing and claims follow ups, and reporting. Unpaid administrative tasks causes internal costs to skyrocket and an already small profit margin to be further reduced for every patient visit.

Is time your rarest commodity?

You were trained to believe you have unlimited energy, pushed beyond your limits to accomplish more.

This is not how running a business works though. That’s the part that medical school and residency really hid from you. Learning the steps to manage the business side of practicing medicine isn’t the hard part. The hard part is budgeting the consistent and sustained energy needed while diagnosing, treating, and caring for patients.

This is where you begin to experience burnout and just go into shutdown mode. Then you start thinking that getting a job is a good option and will solve all your problems. But it definitely won't.

You might think that you can’t afford to get any help and it's just impossible to run a business all by yourself. There are far too many things to do, far too many things that you have to juggle if you’re going to be managing the business side and treating patients.

Where do you start?
Medical practice success requires a planned strategy.

Step 1: Diagnose the business side of your practice

Where is your practice today? Where is it going to be tomorrow?

Are you succeeding in sending clean claims, but struggling to collect patient balances?

Do you excel on clinical quality but have poor patient satisfaction?

Are your finances on the edge every month? Are you losing patients to competition?

The first step is understanding how all the working parts of your practice effect each other.

It’s like a Butterfly Effect.

I designed a 7 Point Assessment framework that reviews the key areas of your practice including Financial Health, Revenue Cycle Performance, Market Strength, Operations and Workflow, Leadership, Compliance and Patient Outcomes.

See the framework I have used with dozens of practices and Download the Playbook below so you can do your first self-assessment of your practice.

When you follow these steps to regain control of your practice this is what you can expect in return:

  • Spend more time with your patients doing what matters most and less time on busy work without sacrificing revenue.
  • Gain the knowledge & tools to get paid what you are worth
  • Stop stressing over outside influences like payers and the government
Take The Self Assessment

Medical practice success requires a planned strategy. Use this 3-Step formula to find out where you stand and get control of your practice.

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