11 Apr 5 Ideas that will Pump Up Profits!
Let’s touch on five ideas that will assist in increasing your bottom line via income and help with increasing efficiency in your medical and dental practice.(hey family business owners, these same principles can help your company)
Here are the 5 ideas, I will discuss each one of these in future blog articles.
- Adopt a business and marketing plan for the next 24 months and review this plan quarterly.
- Meet with your practice administrator and key staff members weekly to discuss issue and opportunities and to adopt your weekly action agenda and focus(see how a business plan comes into play)
- Meet with your CPA and financial advisor every quarter to discuss the financials along with weaknesses and opportunities that evaluating these financials will create.
- Survey your entire staff once a year. You will find out more information about your practice when you allow your employees to freely provide feedback.
- Survey your patients annually. You really want to know how your business and marketing plan are doing, your patients will provide valuable feedback about your processes and employees. I also would add, survey new patients immediately. You are showing a concern not only for how your practice, employees and you have performed, but they will feel like they are a part of one big family.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.