Episode 93: 5 Things Private Practice Owners Need to Know in 2020

As we pay more attention to the innovative leaders within our profession, it’s easy to see that we need to break out of the mold we have been working in over the past 4 decades and be revolutionary about how to operate in 2020.  We all know that being a great clinician does not equate to you being successful at running a PT private practice. You have to obtain the skills and continue to grow both personally and professionally. Successful business leaders will tell you that when you are looking to dismantle and restructure any operating basis, you must pilot the new model while continuing to run the existing model until you get the new model de-bugged and dialed in before you abandon the old. This week, we’re breaking down where we are today in private practice, and what we have to do now to succeed in 2020 and beyond. 

KEY TAKEAWAYS

  • Be transparent with your group. They need to understand your purpose for opening, and your business goals for this year.
  • Educate your team on any system or structural changes. These should happen gradually to get the team fully onboard.
  • Create an element of giving for you and your team to take pride in that promotes the purpose of your practice within your community.
  • Run an end of the year summary report and then use that base your upcoming year BSP on so that you have real numbers set for a 15% growth (min). It is key that all are involved in this process.  The old way of walking down the hall with the plan in hand to delegate duties is old school and not very effective. 
  • You need a form of CDT within your practice that is promoted and used with the sole purpose of enhancing skills both personally and professionally. It should be easily accessible, consistent, comprehensive, engaging, ongoing, and have an element of assignments and physical tools to ensure full application.

WORTH READING

If you like what you’ve heard, please feel free to contact us to schedule a free practice assessment – we’re happy to listen to what’s going on in your practice and help you find solutions that will lead to your succcess as a business owner. And if you like what you’ve heard, please subscribe and share with friends or colleagues that you think would benefit from what we have to say.

 

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