Do You Stay Awake At Night Worrying About Cash Flow?

Practice owners find it can be a constant struggle to keep a steady cash flow.  This stress can lead to owners waking up in a cold sweat about making their next payroll or rent check.  Inefficient or missing processes, staff issues, and lack of metric insight can tax your clinics health.  Let’s look at a few ways you can improve systems to prevent this from happening to you.

Systems:  If your clinic is not operating optimally then your cash flow can’t hold steady.  You will have many “leaky” holes in your “money bucket” and you won’t know what’s causing these leaks.  Take a step back and look at the patient care and financial systems that you have in your office.  If your clinic isn’t operating optimally, your cash flow won’t hold steady.  Once you optimize these systems to be more efficient you’ll remove waste and plug some holes.

Processes: The process for the new patient begins long before they walk in your door, it actually starts at the initial contact.  You have one chance to make a good first impression and make it count!  Have the processes in place so your front desk captures all the appropriate data and then verifies eligibility before the patient comes in.   Once the patient does come in the processes to collect payment, schedule appointments, and follow through with quality and value MUST be in place.

People: If you have developed the systems and have the processes in place but you still struggle you need to look at your people.  What many business owners fail to realize is it is not just having a person but have the right, well trained, person to ensure systems and processes are operating efficiently.  You have to hire the right person then train them for the right seat on your business’ “bus.”  You might be surprised at how making staff changes will improve your bottom line.

Do you need help assessing your systems and processes?  Contact us to learn how we can help!

Andrew Vertson, PT, DPT, ATC
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