Health care professionals, from doctors to physical therapists, who have their own businesses, often look for help in the wrong places. They go through their careers constantly battling the outside forces, which incessantly try to control their businesses.
Almost all medical business owners, because of their ignorance of the existence of what a business system is or even that they exist, the value it has for their business functions, idncash and the power a business system brings to productivity and profitability, rarely reach a level of business success and profitability
There’s a reason. They either weren’t taught, were never educated in business principles, or never understood that business chaos is a curable disease. Business chaos managed in a learn-as-you-go philosophy provides for a slow start and fast failure in most cases.
You’ll discover that all the remarkably effective marketing strategies in the world of business never alone solve your problem with creating a sustainable profitable business. It’s then, that your attention is drawn to the necessity of having some organizational structure and foundation that will enable marketing efforts to create the results they are designed to do-business systems.
Successful and profitable businesses require both a business system and a marketing plan with management.
Successful business is composed of a series of coordinated, synergized, and compatible systems working in unison towards a specific objective.
Business System Overview:
The definition of a business system for a medical business is defined as a dynamic balance of the six major foundational components of your business:
• Financial Logistics
• Internal Processes
• Patient Management
The supreme guru known throughout the world as the father of business management, Peter Drucker, states that business has two primary functions:
Peter Drucker firmly states that a business has only two functions: marketing and innovation. He meant that the functional components of a business have those two objectives. In the process of obtaining these objectives, it’s necessary to create systems and processes that support those objectives. What spins off from that effort are what we superficially know as business revenue, profitability, productiveness, and business stability.
Business systems should be written down and kept in a 3-ring binder. Anyone in your medical business office then has immediate access to the pages of information defining in detail how your office will function under most all circumstances. Don’t you think that this sounds incredibly like having an Employee Policy and Procedures Manual? You bet.
Chris Anderson’s business, BizManualz.com, of providing you with various business manuals, starter information, and a newsletter with excellent information articles, is one of the best resources on the topic.
Business systems need to be created, or at least modified from a template, to mesh with the ultimate objective the owner has established, because the system will be unique to each medical practice setup. No one has the same ideas, desires, goals, and plans for their business system. Does it take time and concentration to create the system? Absolutely.
Anything worthwhile requires work and time to complete. The good part is that once it’s completed, any revisions later are done in a matter of minutes over the next 40 years in practice. Judging from the present trends in the medical profession, most physicians and other doctors may not be in private practice over 15 to 20 years, if that.
Business System Components:
First, you define the ultimate goal or mission for your medical practice. Is your aim to make money fast and retire early? Or, is it your desire to have a medical practice that is stable and provides the income to live a simple life? Once that is determined, a business system compatible with creating that goal can be constructed.
It’s critical that every element of that system is pulling in the same direction. The elements of the system dealing with employees have to accomplish the integration of their efforts with a focus on the ultimate growth and expansion to meet the objectives of the business. Alignment and compatibility of every aspect of the components has to be clearly planned and expedited.