Marcus Lemonis — the investor/fixer who stars in CNBC’s “The Profit” — believes that the keys to success for any type of business boil down to three fundamentals: people, process, product. Once you understand that all the shortcomings and the positives of any business will fall into one of these three areas, it’s easier to see how to fix the problems that prevent a business from reaching its potential.
These basics absolutely apply to medical practices, too.
People: Do you have the right staff? The right providers? Is everyone doing the right things? Are staff members empowered to solve problems?
Process: Is your patient flow process free of unnecessary friction, or are extra steps, poor communication and other inefficiencies slowing you down?
Product: Do your providers provide the services that are needed in your area? Are patients getting access when they need it? Are you committed to the technology options and other patient experience innovations that patients want and need? Do you know what patients want?
In this video (one of an excellent series from Inc.), Lemonis states plainly that if you want to understand whether your process works or not, “You really just have to stand on [the other] side of the counter and say, ‘What is the consumer actually seeing?'”
This is, in fact a big part of what we do as practice management consultants. We shadow patients, we sit in reception areas and at the front desk, we go through the same processes your patients do. It’s how we learn what the patient experience is like, and how we spot problems in workflow (which usually reveal themselves almost immediately!). Your staff can also help you understand the patient experience — let them share with you what they see at your front desk, in your hallways and in your reception area, and let them take initiative to fix problems that are within their control.
- Should you buy the practice down the street? [on-demand webinar] - March 2, 2020
- Net collections: Are you waving the white flag? - February 12, 2020
- We’re recruiting for a fantastic pediatrician opportunity in a desirable location - October 17, 2019