breaking practice barriers soaring to new levels with speaker: dr. timothy gay director of ultimate...
TRANSCRIPT
BREAKING PRACTICE BARRIERSBREAKING PRACTICE BARRIERS
Soaring to New LevelsSoaring to New Levels
With Speaker:Dr. Timothy Gay Director of Ultimate Practice.com
With Speaker:Dr. Timothy Gay Director of Ultimate Practice.com
>NEW PATIENTS<>NEW PATIENTS<
SECTION 1:
Services & Collections Overhead Personal Overhead Location & Signage Service & Hours Statistical Analysis
HIGHER LEVEL OF SERVICE
The service side of a practice will always remain the most important component in building a practice.
In order to increase your collections you have to provide more services.
Services
& Collections
Services
& Collections
Services & Collections Services & Collections
To determine collection percentage, divide collection by services. Here is the following % of collections to services:
Outstanding 93%+
Excellent 90%
Good 85%
Fair 80%
Poor 75%
Stinks 70%
Overhead ExpensesOverhead Expenses
LOW OVERHEADKeep your practice overhead to a minimum
roughly under 50% of your collections.
Low overhead helps to create higher profits and better yields.
Look at your fixed overhead expenses, and any other expenses directly tied to running your business.
Have a substantial profit margin before spending money on outside marketing.
Personal OverheadPersonal Overhead
SAVINGS ACCOUNT
Savings account should be a minimum of $100,000.00 and in cash reserve—and not to be touched.
If you can’t afford to pay cash don’t buy it.
LocationLocation
LOCATION, LOCATION, LOCATION
You have heard this over and over, the #1 single most important thing you must have for your practice is location, location, location.
Over and above everything else, location will make or break your practice.
SignageSignage
ASK YOURSELF…
How many different directions can your sign be viewed?
How many signs do you have? Are they all lit up?
What is the size of your signs? Can they be viewed from both foot traffic and cars on the road.
Service & HoursService & Hours
SERVICE & HOURS: CONSISTENCY
The type of service that is provided in your practice needs to be consistent.
Doctors are in constant flux—changing office hours and the types of services that they perform.
Service & HoursService & Hours
TYPES OF SERVICES
Services in your office may include:
massage therapy, rehabilitation,back office procedures, intersegmental tractioning, and a host of added services for
the patients to respond to treatment faster.
Statistical AnalysisStatistical Analysis
STATISTICS & FORMULAS
Formulas produce stats on various pieces of the practice. These stats can help analyze ways to improve clinic productivity and develop a better team.
Statistical analysis and formulas:help run businesses, help with keeping them organized help with efficiency.
Statistical AnalysisStatistical Analysis
MORE STATISTICS
There are many more statistics, for example:
re-exams time managementpatient time studies (to determine how
much time is being spent with a patient)money collected over the counter patient recallsamount of money billed
daily and weekly
Statistical AnalysisStatistical Analysis
BUSINESS STATISTICS
Collection Factor Percentage (CFP): Divide collections by production for a percentage.
Total Expenses (TE): Average expenses divided by 12 months.
>NEW PATIENTS<>NEW PATIENTS<
SECTION 2:
Procedures/Systems Marketing & Advertising Consistency & Congruency Procedural Follow Thru Adherence To Goals
Procedures / SystemsProcedures / Systems
ASK YOURSELF…
Does your practice run like a well oiled machine, whether you are present or not?
Do your associates duplicate your efforts?
Does your staff use scripts and role play?
Marketing & AdvertisingMarketing & Advertising
GETTING NEW PATIENTS
If you want more new patients, what are you doing to create a buzz around your practice?
A minimum of 3 internal and 3 external programs should be going in your office on a monthly basis.
Marketing & AdvertisingMarketing & Advertising
CLASSES
Spinal care classes (internal marketing) are an absolute must. These classes are an educational tool for new patients and retention for returning patients.
You, as the doctor, need to educate as many people as possible about the benefits of chiropractic.
Marketing & AdvertisingMarketing & Advertising
HAVE A PLAN Do you have a one year marketing plan in place?
Begin by marking dates on your calendar as to when you will implement projects, classes, events, etc…
Commit yourself to starting.
Get out of your comfort zone to produce results and reach a higher level in your practice.
What Must Be Done?
Why Must It Be Done?
When Should It Be
Done?
Who Should Do It?
Where Should It Be
Done?
How Should It Be Done?
PLANNING WHEEL
1
2
3
4
5
6
Marketing & AdvertisingMarketing & Advertising
NETWORKING WITH CHIROPRACTORS Instead of taking a stand of “Every
Chiropractor for Themselves,” form a unified group that has cooperative marketing for the cooperative purpose of creating more public awareness of chiropractic.
Consistency & CongruencyConsistency & Congruency
STAYING CONSISTENT
The consistency of your practice equals a recipe for success.
The more you do the same, much like practicing kata in karate or practicing songs on a guitar, the better it flows the better you will become at building your practice.
Procedural Follow ThruProcedural Follow Thru
CONSISTENT PROCEDURES It is important to make sure that all
procedures are agreed upon so that there is consistency in the care and well being for the patient.
TIRED EXCUSES “No one told me what to do.” “I told someone else to take care of this.” “That’s not my department.” “Someone told me the wrong thing.” “My team dropped the ball.” “I thought I told you.” “It’s not my job.”
Procedural Follow ThruProcedural Follow Thru
ACCOUNTABILITY
Everyone must involve themselves with accountability.
All must share in the ownership of procedures and the circumstances and results of procedures.
Train staff members accordingto your procedures and systems.
Procedural Follow ThruProcedural Follow Thru
TRAINING Training is not just a matter of knowing what to do, it is a matter of training to a point of automatic competency in all aspects of your practice.
Training is a never ending endeavor of improvement to attain the highest level of achievement.
Adherence to GoalsAdherence to Goals
STICKING TO A GOAL
Adherence is sticking to a strategy or goal long enough to produce the desired result.
Adherence is achieved through Focus, Competence, and Passion.
Have a mission statement for your clinic.
Adapted from Sticking To It: The Art Of Adherence by: Lee. J. Colan
Adherence to GoalsAdherence to Goals
COMPONENTS TO ADHERENCE High competence means that your staff can perform at a consistenthigh level of execution.
Teach your staff to think in terms of measurable goals with finite beginnings and ends.
Adapted from Sticking To It: The Art Of Adherence by: Lee. J. Colan
Adherence to GoalsAdherence to Goals
COMPONENTS TO ADHERENCE Cont… Create systems for positive habits to
effectively communicate and plan the steps you need to accomplish your goals so that each staff member can focus on his/her responsibilities.
Adapted from Sticking To It: The Art Of Adherence by: Lee. J. Colan
New PatientsNew Patients
Here are the statistics for moving your practice to the next level:
Outstanding = 50+ NP
Excellent = 40-49 NP
Good = 30-39 NP
Fair = 20-29 NP
Poor = 10-19 NP
Stinks = 0-9 NP
Final NoteFinal Note
Watch your thoughts; they become words
Watch your words; they become actions
Watch your actions; they become habits
Watch your habits; they become character
Watch your character, it becomes your destiny.
~Frank Outlaw
NOW IT IS TIME FOR YOU
TO BREAK PRACTICE BARRIERS
NOW IT IS TIME FOR YOU
TO BREAK PRACTICE BARRIERSand Soar
to New Levels!and Soar
to New Levels!