"Ultimate efficiency of your medical practice business
is dependent your medical practice management
knowledge and on the persistence of your medical
practice marketing along with using business systems."
Medical doctors, who have their own medical practice businesses, often look for business help in all the wrong places. They go through their careers constantly battling the outside forces that restrict their own private medical practice, like government medical practice mandates and fee restrictions, instead of investigating what it is inside their own medical practice business that hinders their income and productivity more than the outside factors.
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, and the power a business system brings to productivity and profitability, rarely reach a level of business success and profitability they expected. 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,fast failure, and many mistakes 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 accomplish... business systems.
Successful and profitable businesses require both a business system and a marketing plan
which in turn requires good management.
A successful business is composed of a series of coordinated, synergized, and compatible business 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
- Innovation
- Learning
- Growth
- Patient Management
My resources for learning business systems are readily available to you on this medical website.
My other articles related to this issue are...
Article #21, Title, "12 Essential Elements Of A Medical Practice
Marketing System/Plan"
Article #18, Title, "3 Keys To medical Practice Financial Stability"
Article #81, Title, "Advertising---A Wart On Marketing's Finger"
The supreme business guru known throughout the world as the father of business management systems for all businesses, Peter Drucker, whose books about business management continue to be read and used almost a century later, says it all:
Peter Drucker states that a business has only two functions: marketing and innovation. He meant that the functional components of a business have these two objectives. In the process of obtaining these objectives, it’s necessary to create business 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 system details 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 almost all circumstances. Don’t you think that this sounds incredible 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 business 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 medical practice. Judging from the present trends in the medical profession, most physicians and other medical providers may not be in private practice over 15 to 20 years,
if that. Why? Because the increasing government regulations, mandates, restrictions and abuse of physicians is destroying the medical profession and healthcare as well.
Business System Components...
First, you define the ultimate goal or mission for your medical practice. For example, 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 enough to live a simple life? It's any goal you choose for your career and profession. Once that is determined, a business system compatible with creating that the objective
can be constructed.
The critical aspect is to ensure that every element of that system is pulling in the same direction. The elements of the medical practice business 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 your medical practice business management. Alignment and compatibility of every aspect of the components have to be clearly planned and expedited.
Breaking the business system down to its roots, is the next step. In a simplified way, it looks like this...
Business System > Business Functions > Business Processes > Process Mapping > Education
Business System
--system of goals established.
-- reasons for the system.
--understanding the system value to the business.
Business Functions (some)
--accounting
-- management
--patient flow and recruitment
-- supplies and inventory
-- planning and administration
-- marketing
--growth and opportunity
--competition factors
-- education
-- communications and interactions
Each Business Function
--list of processes needed to perform that function
--list of projects that function can perform
--establish compatible interactions among processes
--ways to improve the process
--ways to save time
Business Processes (how you actually do the job)
--take each process and break it down to steps
--list of steps in the order of performance
--define the value of each step
--how to make each step more efficient
--use of deadlines for work efforts
Process Mapping (mind impact is greater)
-- diagrams, flow charts, graphs, images
-- value it provides for learning and efficiency
-- simplifies any complex system by presentation models
Education
-- teaching every employee the business system
-- refreshing sessions so don’t forget
-- employee cooperation is dependent on it
-- a system is useless without everyone participating
This simplified outline should be a guide for starting your business system creation. It means you must dig down into the areas of your business that you detest doing and have no desire to even know about. A much higher level of business profitability and success is the reward for going the extra mile to set it up.
Paying to have it done for you can be expensive, but there are fill-in-the-blanks templates for business systems online to use. Be a smart medical practice business management person. Give yourself the tools to carve out your empire the fastest and easiest way... create your
medical practice business system!
----Professional Probe----
"If you don't like business systems,
there are other less complicated
jobs available."
"Of course, there is a practical alternative to rejecting
the necessity for creating business systems for your
medical office that accumulates income far slower
and with less satisfaction."
Articles © 2013-2022/CGG INVESTMENTS LLC. All rights reserved. #20 3-16-22
