You know better than most people that running a medical practice is hard work for a variety of reasons.
Given this is the case, why do you sense your practice is struggling these days?
From money issues to staff problems and more, your medical practice could be in trouble. Yes, it could be closer to hanging a permanently closed sign on its door than you may think.
So, what measures can and should you take so you can turn things around?
Have You Protected Yourself?
It is important that you take a moment to think about what would happen to your practice. That is should you deal with a significant illness or injury.
Unless you have other physicians with you, how would business go on? That is without you there for an extended period?
This is why it is critical that you have a protection plan in place.
That said it would behoove you to look into physician disability insurance if you have not done so.
Such insurance can cover you should you have to deal with a serious medical issue in your life. Now, would it not be smarter to have such coverage than take the risk of not doing so? With all you have put into becoming a physician, why risk it?
Go online and research some of the disability insurance plans in the marketplace.
Among the areas to focus in on:
· History of the insurance provider
· Terms and lengths of plans
· Customer feedback on the provider and their plans
Your goal is to find the best plan for you and your practice and leave the worrying behind.
Do You Put Patients First?
Even when you have done what it takes to protect the practice and you, how good of a job do you do in putting patients first?
Unfortunately, some do not do enough to make sure their patients get the best treatment. As a result, it can lead to patients feeling slighted and looking to go elsewhere for their needs.
In putting patients first, provide them with not first-rate care. Also make sure you do proper billing.
Yes, billing miscues can be one of the reasons some patients opt to go elsewhere.
Although you have insurance in the mix, you are responsible for getting the billing right on your end. If you are fouling this up all too often, it can be a prescription for disaster.
The goal is to be sure your billing team is taking the time to properly record all visits, procedures and the like. This will cut down on the chance for errors.
Last, putting patients first also means you do not rush them in and out of the exam room like an assembly line.
One complaint all too many often have about their physician visits is they felt rushed.
Take the time to listen to your patients and find out what is bothering them. Doing so can provide you with a patient for many years to come.
If your practice is struggling, where do you turn to make it healthier?