We all want our medical offices to run as efficiently and smoothly as possible. Unfortunately, there are some mornings that just fall flat and, before we know it, they’ve completely fallen apart. These are the types of mornings that even Starbucks can’t fix! Keep everything running well at your practice by starting with these tips:
Fortunately, getting your finances back in tip-top shape doesn’t require a complete overhaul. You just need to dedicate a few hours to tidying up and start making a few more intentional decisions. Here are some tips on how to get it all done!
Tips for Getting Your Business Finances in Order
1. Embrace Technology
Automate, automate, automate—Technology is one of the greatest friends for an efficient practice. Done right, technology can eliminate errors, improve patient access, and save time. Technology can now automate many time-consuming tasks such as appointment reminders, newsletters, recare, and more. That being said, it is critical that everyone in the office is fully trained and mentally on board with any new technology. If not used to its full advantage, technology can actually slow things down. Don’t let the benefits of technology go wasted.
2. Look Ahead
Knowing what to expect on the schedule, what patient information will need to be gathered, and what holes need to be filled, is critical to maintaining the highest level of practice efficiency and profitability. At the end of the day, take a couple of minutes to review tomorrow’s to-do list, evaluate and rank items, procedures, communications, etc. by priority. You can then determine and designate deadlines and assign task items to each team member beforehand. Follow your list religiously and work to not get distracted by less important work.
3. Long Term Planning & Strategy
One of the most important and strategic moves you can make is to have a solid understanding of your general demographic. Knowing what your patient flow looks like will help you better organize your time.
Do you have a lot of younger patients? Then you’re likely to find that they want to make appointments after work, whereas older patients are going to spring for the morning slots. Understanding this data and how to adjust your preparation for appointments can make a world of difference, and save you valuable time.
Are there administrative aspects of running a practice that are taking away time you could be spending with patients? An option to consider is outsourcing for these services. There are many healthcare management companies who specialize in handling administrative tasks to let practitioners get back to their patients.
Some services that may be outsourced include practice management, credentialing, and billing. For more information please contact https://towerps.com
4. Stay on Top of Your Financial Situation
One way many clinics find themselves struggling is in their finances. Oftentime, if practice owners are not highly aware of all their expenses, they tend to miss important details that could be detrimental with time. The easiest way to combat this is to stay on top of your expenses.
A great way to keep track of this information is to keep consistent reports of what your finances look like. Typically, a good practice to follow is doing a practice costs report weekly, a financial metrics report monthly, and a workflow analysis report quarterly.
Running your practice in an efficient way will lead to improved morale and higher profitability. Start by trying to save a few minutes every day and work up from there. Set the expectation of efficiency with all staff members by having an established routine and daily “stand-ups.” This will allow everyone to reap the benefits of a less stressful environment. With a more structured and organized working environment, staff and patient satisfaction are bound to be the result!
Learn more at: towerps.com Contact Tower today for more information regarding business strategy support for your practice.