Business Management

Strategies to improve business operations

Administrative
Four Ways to Fight Digital Burnout
Taking time off from the internet when feeling overwhelmed is a growing trend. You may not be able to unplug completely, but these tips can help to keep digital burnout at bay.

7 Ways to Manage Email So It Doesn't Manage You
I'm always struck by the number of people who complain about the amount of email they receive and how much they despise their inbox -- not because their complaints aren't valid but because my own view couldn't be more different. By design, my inbox has essentially become the central hub of my workflow -- it's the way I routinely communicate and exchange information with our 4,300+ employees operating in 26 cities around the world. That's not to say I've always been a fan of email, or that I haven't had my own Sisyphean inbox experiences. However, over the years I've developed several practical guidelines that have enabled me to manage my inbox effectively and ensure it's not managing me.

Using Medical Apps in Your Practice
More than likely you have a smartphone. But, are you using it to the fullest extent of its capabilities? There are literally millions of apps available, with thousands of them being dedicated to health. Here are a few of our favorites. So you've got the latest and greatest smartphone, right? But are you really using it smartly? You can use your smartphone or tablet to do more than just make calls, share pictures, and surf the web. There are literally millions of apps available, with thousands of them being dedicated to health. What's your favorite app? What couldn't you live without (beyond your e-mail)? Let's look at a few personal, professional, and playful apps.

Managing Patient Flow: Keep the Lines of Communication Open
Reducing patient cycle time (the total time spent in the office) and improving patient satisfaction can both be accomplished if you improve your practice's communication channels: communication with and about patients. It all starts with that first phone call, and doesn't end until you wish your patient a good day with a big smile! Here are some key tactics to employ to let your patients know they are important to your practice.

How to Reduce No-Show Patients at Your Medical Practice
When a physician hears "What is your hourly rate?" she most likely assumes the question is directed to an accountant or an attorney. Unfortunately, physicians rarely think they possess an hourly rate like other professionals. While it's true that payment systems do not lend themselves to billing an hourly rate, every doctor has one. Not realizing the importance of hourly compensation causes many practices to fail to appreciate the enormous value of strategic scheduling, and most importantly, the need to keep their schedules full. You should think of your "no show" patients as time-pickpockets. They steal your opportunity to completely schedule your day with revenue-producing visits.

Creating Practice Systems
The ticket to your dream practice and retirement income

Malpractice Insurance

5 Tips to Start Executing Your Business Plan

The Art of Collecting Your Due

Need a Satellite Office?
How and When to Open a New Site

The Administrator’s Desk: The Power of Paperless.
Taking small steps to becoming paperless isn’t just good for the environment — it’s also good for your practice.

Handling Practice Challenges
Medical practice executives cite financial management issues as most challenging
For the sixth year, medical practice executives revealed their biggest daily professional challenges to MGMA-ACMPE and disclosed their struggles to adapt to rapid changes, legislative pressures and fiscal uncertainty. According to 1,067 respondents to the "Medical Practice Today: What members have to say" research, the top five most applicable and intense challenges of running a group practice are:

1. Dealing with rising operating costs
2. Preparing for reimbursement models that place a greater share of financial risk on the practice
3. Managing finances with the uncertainty of Medicare reimbursement rates
4. Collecting from self¬-pay, high-deductible, and/or health savings account patients
5. Understanding the total cost of an episode of care

The Business Plan: What Doctors Must Understand to Survive
There is heated discussion in many online forums about doctors, economics, and business skill right now. The comments and laments carry a common theme: Doctors are going broke, they lack essential business training that medical school failed to provide, their financial world has been turned upside down and everyone takes advantage of them, they are over-sold and under-served. While I have a clear understanding of the time constraints and workload many physicians operate under, I’ll be clear on this issue: Taking control, even mentally, of the medical business you run or own is no longer a luxury and is required for your survival. Read more

Two Tools for Addressing Challenges at Your Medical Practice
Let’s face it: Failure is a much more effective teacher than success. There is something about the sting of a plan gone wrong that helps to enhance our self-awareness and make the lessons we learn stick with us. So, how do we maximize these learning opportunities in our practice? When something goes wrong, how do we make sure it doesn’t happen again? Read more

Global Climate Change - How Naturopaths Keep It Cool

Know Your Business 
Control Your Costs

Inventory and Supply Management
Tips for Starting Your First Dispensary from The Practitioner's Journey
Early fall is startup time for many new practitioners, including new ND’s in our area. As a result, we’ve been fielding a lot more questions lately, covering just about everything from leases to associate agreements and websites. One topic of interest is how to start up a dispensary. We started ours when the clinic already had a substantial patient base, but Tara and I discussed what we’d do if we were starting from scratch now. Whether you’re selling supplements, natural beauty products, healthy foods or yoga gear, here are a few strategies to guide you on your way. 1. Understand You’re in a Different Business.

Inventory Management
Milestones in practice development

The Ins and Outs of Equipment Leasing

Sales and Business Development
A Naturopathic Answer to Sales
Most NDs do not want the image that sales people have in the community at large but it is a "fundamental truth that 'nothing happens until the sale is made."

Should Medical Practices Charge Subscription Fees?
Some physicians, trying to remain independent, are experimenting with subscription-based models of payment. A recent study by Accenture shows that the number of independent physicians in the United States has dropped from 57 percent in 2000 down to 39 percent in 2012. This trend is expected to continue, with a projected decrease of another 3 percent during 2013. Physicians cite higher administrative costs and the impending EHR requirements as the two primary reasons for leaving private practice and seeking the security of hospital employment. Physicians who buck this trend and commit to keeping their practices alive are being forced to develop new business models in order to survive. One such model that’s gaining steam among private practices is the subscription-based model. While similar to concierge medicine . . . the subscription-based model is a more affordable, yet less comprehensive plan.

Human Resources and Staffing
What Should I Expect From My Medical Practice Manager?
It is not uncommon for a new client to ask us "How do I know if my practice manager is doing a good job?" and "What should I really expect from my manager?" My answer is "that depends." It is important to understand what are realistic goals and expectations for both the manager and physician.

Medical Practice Staff Should Respect, Not Fear, Physicians
Fear of the physician in any clinical environment is counter-productive. What's a better motivator? Respect and trust. Physicians regularly tell me that it is good for staff to be a little afraid of them. There are three problems with that conviction: 1. Fear is binary. Staff members either fear the physician or they do not. If a staff person is even a little afraid, the threat of punishment, a tirade, or embarrassment is present in every interaction. Her guard is always up, and her primary attention is never fully focused on the task at hand.

Staffing your Business: Four Flexible Options to Consider as you Start Up and Grow
How do you staff a new or growing business? Knowing who to turn to can be a bit of a conundrum. Do you dive right in and hire full-time or part-time employees? What if your success doesn't last and you are stuck with a team of employees with the associated payroll and benefit expenses? What about turning to friends and family or a staffing agency for help? It might not be something you thought about too much about when you started your business, but having a staffing plan can help your business prepare for success and ensure you have the right talent in place to help you scale and grow when the time comes. Here are some options that you might want to consider as you review and prepare for your short- and long-term business staffing needs.

Small-Business Staffing Suggestion
When hiring workers for your small business, compatibility is often harder to find than competence. There are no secrets to hiring. Make a list of needed attributes, stick to it--and trust your gut. Competence is assumed before the interview, because you don't waste time talking to people who don't meet the minimum qualifications. Beyond that, you need someone you trust and can work with for 40 or more hours per week. Clearly, this is a subjective judgment. Caution: Many entrepreneurs hire too early. Idle hands can create problems--and burn money. Offering a temporary job is a good way to see if an employee has the needed skills and attitude. If things work out, make the job permanent. If not, you've st nothing when the agreed-upon period of employment is up--and saved yourself a future headache.

Stay Interviews: How to Keep Medical Practice Staf on the Job
Exit interviews tell you why good people are leaving, but rarely in time to prevent their departure. Stay interviews, however, are done to understand an employee's concerns while she is still on the job.

3 Resources for Getting Stuff Done Cheap
Bloggers from The Practitioner's Journey often hear from practitioners who struggle to get things done because the doctors simply don’t have the time, money or expertise. Practitioners can’t afford to create a website, for example, or they don’t have time to write blog posts. Maybe the idea of an email newsletter is technically overwhelming. It’s a frustrating problem, and all have been there. Even a small practice demands a big range of skills, and it’s very challenging to do it all, and even more challenging to pay someone else to do it. What to do?

Recognizing Medical Practice Staff
Here's how to motivate your office to achieve the common goal of boosting patient satisfaction.

Six Steps to Boost Productivity by 30 Percent at Your Medical Practice
What if your current staff could actually get all of their work done, you could see 30 percent more patients, or you could get home in time for dinner? How happy would patients be if wait time decreased?

Legal Human Resources Landmines to Avoid

How to Find the Accountant Who's Right for You

Hiring Professionals - Elance
Elance is the leading site for online work where businesses connect with independent professionals to get work done.

What Your CPA Wishes You Knew

Finances
Preparing Your Practice Finances
When considering financing options, it's a good idea to have an understanding of your financing needs as well as the types of options that are available to help you start and sustain your business. Read More

A Doctors Self-Exam of Financial Essentials
The days of doctors simply opening an office and treating patients as a business model are long gone. There are simple categories that can be addressed one issue at a time with great efficiency of scale and cost.

Most Common Financial Errors Small Businesses Make

Stop Bounced Checks

Follow Your Money: How to work smarter, not harder