1.     THE PRACTICE IS NOT SET UP TO BE VERY, VERY PROFITABLE.

• Growth, creativity, doctor-whims, excessive overhead, doctor’s high lifestyle, all reduce profits.
  
• Owner sets Revenue and Profit goals based on “what’s reasonable or based on what others are doing.
  

SOLUTION:  Set profit targets which are double the current levels, even if the doctor can’t see HOW to get there.  This exercise will force a re-looking at all aspects of the practice, pricing, expenses, etc.
 

2.      THE PRACTICE IS NOT BEING MANAGED.
·         To manage means to direct, control, empower, challenge, create and always be responsible.
·         Often times the doctor acquiesces or avoids making the tough decisions.
SOLUTION:  The doctor starts to RUN the practice HIS or HER way, even if others squawk.  If the doctor is involved more he or she will see more opportunities by taking a stand and getting clear on expectations.  Have incredible, error-free systems and the type of staff that who care about perfection and delivering excellence.
 

 3.      THE DOCTOR HAS PERSONAL PROBLEMS OR IS TRYING TO PROVE SOMETHING.
·         Some doctors have way too much ego and a weak Personal Foundation to run a practice well.
·         Some doctors think they can do it all on their own and are missing “good judgment” and haven’t learned their lessons.
SOLUTION:  The doctor stops getting needs met only by the practice, strengthen Personal Foundation, start being more conservative and patient, slow down to see what is really off and discover what lessons are being ignored.
 

4.      STAFF IS NOT FULLY DEVELOPED.
·         Staff is left on their own to train themselves, yet expected to substantially increase profitability.
·         Staff is not committed to mastering their functions and/or being cross-trained.
SOLUTION:  Develop Teamwork, based on a practice Vision and goals which makes training appealing.
 

5.      THE DOCTOR IS NOT APPLYING HIM OR HERSELF.
·         Missing or inadequate structure to keep the energy, focus, drive, excitement.
·         Laziness
SOLUTION:  Get up and get going by developing daily objectives that support weekly goals that support monthly goals that make the year a success.
 

6.      THE DOCTOR IS UNWILLING TO BE GUIDED BY THE FINANCIAL AND OTHER MEASUREMENTS.
·         Ego way too big
·         Revenue vs. profit driven
SOLUTION:  Create daily, weekly, monthly and quarter metrics to track progress.  Things that get measured, happen.  Ego dissolves with insolvency.
 

7.      THE BUSINESS PLAN IS BASED ON WHAT THE DOCTOR WANTS/NEEDS/THINKS VS. WHAT THE MARKET IS READY TO CONSISTENTLY BUY.
·         The doctor needs the practice to make a lot of money; inadequate reserve places excessive pressure on all parties and patients can sense it.
·         The doctor is “too busy” to build a plan and ask the questions of the market place.
SOLUTION:  Economics 101 teaches that spending less than you make will make you wealthy.  Allocate 15 minutes each day, 1 hour each week, half a day a month and two days a year to planning your plan!
                   8.      THE PRACTICE IS NOT INTIMATE WITH ITS PATIENTS.
·         Polls and surveys are not nearly enough.  Success is in what is not first said by patients.
·         If partnership and relationship are missing, the practice is not learning about what the patient really wants.
SOLUTION:  Invest time with the top 20% of patients on a monthly basis.  This investment of time ALWAYS pays off—the doctor fixes problems, staff makes fewer mistakes, patients have more confidence and buy more.