The Three Businesses Inside Your Practice
Hey everybody, my name’s Dr. George Birnbach, and I’m out here in beautiful Key West, and it’s absolutely stunning outside right now. You can see the palm trees, you can see the sunshine, and it’s really special and I’m down here teaching our Galaxy group, some amazing different routines and listening to all the great wins that everyone’s having and then seeing that interaction among the Galaxy members of Five Star is really a special experience, but it got me thinking about something that I want to share with you.
When we start looking at a chiropractic practice, we often see several recurring statistics, right? How many new patients are we seeing, how many patient visits do we have scheduled today, or this week, or this month, and what is our collections, or production? And then, sometimes, we go, well where did everyone go, right? Why, or where’s our retention, or how’s our retention?
Well, maybe you’re like a lot of practices, where your practice is really strong in one area and then it starts to kind of waver in a different area and that happens for certain reasons because if we get too concerned about one area, and the routines aren’t stable and solid in another area, they can drop when we put our attention on somewhere else.
So today let’s just take a step back and look that every bit of our practice is made of five different areas. We have marketing, we have clinical delivery, we’ve got finances, or money, we’ve got the administration of those systems, and then we’ve got our personal skills, and our ability of ourselves or our employees to run the routines ourselves. Well, to have a practice that excels long-term, means that those three primary areas, new patient generation, clinical delivery, and retention, should be treated as independent businesses, each with those five areas of marketing, delivery, money, admin systems, and personal skills. So, the three major areas, new patient generation, clinical delivery, and then retention, we treat them as separate, which means that each one needs to have its own primary and secondary set of KPIs, or statistics. Key performance indicator is a KPI and each should have a very specific transformation message that’s going to be the keystone to marketing that piece. So, for new patients, the keystone is the exam, that’s the outcome.
So, our transformation is getting clarity on what it’s going to take to get you back to living a full and complete life. For patients who are in the practice, our transformation message is let’s get you out of pain and into healing, and then into healing and through to stability, and then see if we can keep that backslide from happening. And for supportive care, it’s let’s live a healthy life free from the pain that brought you here in the first place. You see, when we treat each three of these as its own division, or its own piece of a business, it allows you to focus on individual KPIs much easier.
So, for each practice element, whether it’s your new patient attraction, your clinical delivery, or your retention, answer these two questions. Is this part of my practice working the way I want it to be working? In other words, if it was working what would its outcome be? So new patients would be new patients in the door, clinical delivery would be a high kept-appointment percentage, high clinical outcomes. A retention system would be how many people are on supportive-care programs, where they’re coming in on a regular interval over time? So that’s the first question. If this part of my practice was working, what would its outcomes be?
And then, second question is, do I have each of these elements as self-contained business models? Which means there is a set of statistics, there’s one person who’s responsible for reporting that set of statistics, and can this operate as its own little module? So, can I have my marketing working as its own thing, independent of what we’re doing inside the clinic? Is what we’re doing inside of the clinic operating independent of our supportive-care programs? Are we making a definite shift between new patient, to active patient, to supportive-care patient?
So, if you make this managerial change, your practice will be stronger. It’ll be easier to manage, and they’ll be much less confusion in regard to growing this practice. So, remember, when we talk about routines, people go, oh, it’s one more thing, but you have to get over that. Routines do not take time, routines create free time for thinking, for managing, and for performing, okay? Routines don’t take time, they create time.
So, let’s build better routines into the three primary areas of your practice, and end the rollercoaster of your statistics forever. All right, my name’s Dr. George Birnbach, I’ll talk to you all real soon.