Where is your practice on the continuum?

December 14, 2018 Practice Administration 0

Where is YOUR business on the Bariatric Business Continuum? Struggling, Surviving, Thriving or Dominating? Where do you want to be in 2019 and beyond?

Believe it or not, as a bariatric practice leader in the trenches just like you, I have experienced EVERY SINGLE ONE of these levels. Maybe you can relate as well.

Truth be told, you can feel just as defeated when you are at the struggling stage as you do when you are at the dominating stage IF you are a slave to your business. When you are a slave to your business, you are likely overworked,have no time for yourself or your family and are not very happy.  In fact,each level can lead to physician burnout if you are not enjoying what you are doing.

So how do you progress to the top of the continuum with your sanity and happiness intact? Here are a few tips that work!

1.      Advance at a reasonable pace: It’s exciting and beneficial to think BIG. Those audacious goals keep you moving in the right direction. However, if you invest a great deal of cash or collateral in your practice before you have the clientele to support it, you could besetting yourself up for a long road back to fiscal stability. Be sure to create a realistic business plan to ensure proper cash flow along the way and residual resources for the unexpected. Adding additional revenue streams helps a great deal as well! 

2.      Stay true to your mission: It’s easy to ‘do what everyone else is doing’ and lose track of what you know is best for you and your patients. Your best growth will be realized when you know what you want and keep that top of mind.  You also need to stand out in a crowd with outstanding customer service and patient outcomes. Happy patients can be your best (and least expensive) referral source.

3.      Take care of yourself: Practice what you preach and be sure you are eating healthy, exercising and taking time away to rejuvenate yourself and your mindset. Putting yourself last will cause negative consequences in the long run for you, those you care about and your practice. You deserve to be healthy and happy! You must make YOU a priority.

4.      Surround yourself with a great team: A great team WILL make your life better!! Be clear about your mission and expectations as you hire your team. Find out what their goals are, support them and treat them well. If you have someone who is not a good fit, do both of you a favor and set them free (preferable during their probationary period). And of course, always according to best HR/legal practices.

5.      Know what you desire most from your business: Everyone is different. You may be most interested in making money, improving the health of your community one patient at a time, a flexible lifestyle, dominating the market or having it all! I recommend you review what your desired outcomes are every quarter and measure what is working well and what frustrates you most. Then you can focus your leadership and team efforts on putting processes in place to eliminate those identified frustrations and move closer to what you desire most.

 If you have a bariatric surgery practice and haven’t joined Bariatric Business Boss yet, check it out at www.BariatricBusinessBoss.com and obtain my many FREE resources at www.WeightLossPracticeBuilder.com  

If you or your team want assistance attracting more patients, improving patient outcomes and/or adding additional revenue streams to your practice, I’d love to help – you can reach me directly at Karol@WeightLossPracticeBuilder.com .