Why Does Practice Management Matter?
Updated: Apr 2, 2020
Practice management, for this discussion, is going to solely focus on the management of healthcare operations for independent practitioners.
We are not trying to cast aside inpatient or hospital-owned facilities, but where we find our biggest impact is typically within independent medical groups. Why? Well, most independent practices not only have to provide exceptional medical care to patients, but also have to manage all aspects of the business.
Operational Efficiency Is Key
“We say it all the time, but without the efficient management of a practice's business operations and staff, long-term growth cannot be sustained.” - Eric Lowe
Many of us have heard the parable about building a house on solid ground (rock) or an unstable foundation (sand), and the same holds true in medical practices. If you have duct taped your practice's inefficiencies and are continuing to put more weight on staff or operations that are not solid, you are destined for a collapse.
A Top Down Approach
At Intrepid Management, we employ a top down approach to hiring, training, and management. To us, it starts at the ownership level, then management, then clinic staff. The ultimate success or failure of a practice starts with ownership. All employees and personnel will model their behavior after the traits exhibited by ownership. If ownership takes condescending tone with staff, they will never feel valued and never truly buy-in. On the other hand, if ownership has a hands-off approach, it is more likely that staff will attempt to get away with behavior they otherwise would not exhibit under proper management. But let's face it, if you are the provider and the owner, you will not have time to micromanage every employee. For this reason, it is crucial you hire and are able to rely heavily on management level positions, in particular, your practice management.
When you retain our team you have the opportunity to start fresh or audit and improve on your existing practice management. Regardless of what your needs are, we can provide you with the infrastructure necessary to support long-term and sustainable growth. Contact us today to see how we can improve your practice's operations!