If you’re like most doctors, you run the practice your way. Your judgment, your experience, your horse-sense, your way or the highway. But what if you’re not a business genius? What if you lack the knowledge, skills and experience to consistently make good business decisons. Or worse, what if you don’t make decisions because you are haunted by past mistakes and bad decisons?
Look, in business everyone has a boss. If you’re self-employed the boss happens to be your patients and your cashflow. Why does everyone have a boss? Because other people (if they are the right people) can get more out of you. If you ran a Fortune 500 company, you would report to the board of directors. All your plans and their implementation would have to be checked and recheked with them. Running a small independent practice can be a huge problem if you are not regularly making yourself accountable to the numbers and the patient surveys. You need a check mechanism to protect you from your bad decisions or
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inability to make decisions.
Jim Collins says, people first then processes. Collins says get the right people on your team, the wrong people off your team, then get the right people in the right positions and then implement your strategy. He’s right.
David Zahaluk, MD is a revenue enhancement specialist for doctors and the author of “The Ultimate Practice Building Book.”