Private Practice: A New Vision of the Future

Lately, my most pleasant consulting time spent with clients had made me look back on all the events in private practice that happened for past 2 years. A lot of what I first wrote about in my book, "Practice by Design" (Miami 2007) has come to pass. Future Shock is here, and as Toffler observed, may very well be modern mans most serious psychological affliction.

A year ago, one of our members so poignantly asked me, "John, you keep talking about all the changes. What do you mean, and what's happening?"

So what I thought I would do is summarize how the events of the last years impacted doctor's behaviors and decisions in private practice. Don't read any further if you want sugarcoated op-ed. This is not it.

One of the most striking thing I warned doctors about was that unless doctors clearly handle the finances of their private practice (no, its not like the ER), patients are gone, especially in the scared and frightening media-driven economics for so many of those we serve. In essence, you need to be very, very clear, and also priced for the realities of your own future! Are you helping humanity to the best of your abilities, and at the same time selling higher tiers of care to those who want them and are willing to pay in full? Not everyone needs or wants to have a Rolls Royce, and yet they still make and sell a lot of them.

Patients are no different, when unique service is needed and wanted. Help them get their health back, teach them how to stay healthy, and it's the best gift they'll ever have. They literally get their lives back!

These are the harsh realities of practice today. It's not about the latest "lets see what I can max on an insurance case" that some are still advocating. Unless, of course, you like audits and recovery efforts offered by insurance carriers.

Unfortunately, way too many doctors still fall miserably short as professionals (because of their thinking) in this regard and wind up stressed out, unrewarded, and sometimes out of practice.

Another big thing is not staying in close, regular contact with past patients, and your referral colleagues, especially when the economy is going downwards. Costs rise, and like many foolish business today, you might decide to cancel some of your marketing expenditures. You may erroneously decide to stop marketing to those who have seen you before and refer to you every month, because it might cost you $1000-2000 per month to do so, even though you might generate $10,000-20,000 more per month.

Another big thing is continuing to staff the practice like you are the UAW. I guarantee, no ones going to be there to bail you out.

Don't get me wrong. Excellent staff that helps drive the practice is worth every dollar. But are you sacrificing your own future because of your old-fashion and poor decisions, or because you are not handling non-compliance staff?

Have you evaluated your current staffing and HR systems? Have you made these as bullet proof and compliant as possible?

What most doctors will also need to fully develop and integrate is their information and data management systems. They need to turn this into autopilot style marketing. This includes a powerful web presence in many parts of the country.

Just ask your next new patient where they found out about you, and you'll quickly see what I mean.

Another huge issue that I see is that too many doctors do not realize that our current economy is the best time to build a practice! Yes, that's right! Weaker practices will be shaken down.

Some time ago, I remember a doctor who called because he needed an associate quickly. Because several offices in his area closed, he is now seeing all their former patients!

Lastly, remember that change is perpetual. This year is such a powerful example. Your practice as a business is no different.

This is the reason why our company has added several new learning products, an entirely new website, elaborate web based management software, six new core modules to our coaching programs, print on demand newsletter services, 24 hour call center, digital media patient education files, done for you newspaper advertising, etc., etc.

We also introduced several new patient-specific care programs that are now allowing us to help patients that we previously have to refer to other practice, or just couldn't help at all.

My team and I did all these within the last several months, while testing these along side our current systems in our private practice everyday.

Remember that in any practice, including yours, the strong will succeed and prosper. But it will take an entirely new set of management, operational and marketing skills.

If you're up to the challenge, I would be happy to have the opportunity help you build your perfect practice.


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Dr. John Hayes, Jr. is an Evvy Award Nominee and author of Living and Practicing by Design. To know more about his unique approaches to private practice success, visit http://perfectpracticeweb.com/ and register for a FREE CD and Info Pack.