2017 Year End Planning

As we make the final turn for the 2017 year (there are only 46 days left as of today), now is the best time to look forward to 2018.  To ensure you have a strong 2018, it is crucial to forecast the year and set the strategies in to action now for success.  Follow these three steps and you will be miles ahead of your competition.

Look at your numbers (evaluations, visits, revenue and other KPI’s) and see where you missed the mark in 2017.  Did you experience different trends this year?  Constant changes in healthcare are causing new trends to form.  Did you drop an insurance plan or lose a key referral source?  More importantly, did you gain a new referral source?  What lessons were learned this year?  These changes and lessons can be used to prepare for the next year.

Now is the time to finalize your budget, and for 2018 you should have a budget in place.  How much growth are you projecting?  How do your projections differ from this year?  A budget estimates expenses and revenues allowing you the ability to set treatment goals needed to achieve.  Set your yearly goals then set a series of small (90-day) goals to keep you on track.  Make sure your goals are Specific, Measurable, Attainable, Relevant, and Time-Based (SMART).  Knowing your budget, and your expected visits, you can also set employee expectations on their part to achieve the business goals.

Once you have set your 2018 yearlong goals, along with your 90-day quarterly goals, create a strategy to achieve these goals.  Do you need to learn more marketing concepts?  Do you need to implement a patient call back strategy?  Do you need to better understand your metrics?  All of these strategies are key to your success.  Once you have the strategies set, share your 2018 goals with your employees, colleagues, and family to ensure you have a support system to achieve those goals.

We are less than two months away until we say goodbye to another year.  Did your practice meet, and exceed, your goals?  Were you able to achieve your dreams?   NOW is the time to prepare for the New Year.  Do you need clarity to help set your new road map?  Click Here to schedule a FREE Consultation Call!

Andrew Vertson, PT, DPT, ATC
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