Many factors intersect to create a successful medical practice. When some areas of your business are doing well, others may be suffering from neglect. A business owner, it’s critical to understand the signs that your medical practice needs to change to stay competitive and financially healthy.
You Don’t Have a Good Workflow
Being able to work efficiently is important, especially when you want to focus on helping patients and not handling paperwork. If your medical practice has multiple team members who don’t have a good workflow or are overly reliant on paper-dependent processes, it’s time for an overhaul. Working with a consultant can help pinpoint areas that could benefit from automation or other tools to streamline processes that are time-consuming.
Your Patients Are Unhappy
There will always be unhappy patients, but when you begin to see a decline in patient satisfaction, an increase in appointment cancellations, or longtime patients begin to leave, it’s time to gain an understanding of the contributing factors and develop a plan to fix them. Are patients having difficulty accessing care? Is the office responsive to refill requests and referrals? Are your patients receiving bills that are inaccurate or late? Areas needing attention can be identified and remedied with the help of a consultant.
Your Staff Morale is Low
Burnout disproportionately impacts healthcare professionals, but it also can affect your employees. Your staff work best when they have a sense of mission, feel valued, and have the resources and ability to provide quality care for your patients. If your office is filled with interpersonal conflict, high absenteeism, or decreased productivity, a consultant can offer solutions.
Your Finances Are Struggling
A business without enough revenue is doomed to fail, and your medical practice is dependent on stable finances. Cash flow that does not cover overhead jeopardizes your ability to keep operating. If you are spending excessive time trying to collect payment for the care you provide, it’s time to get help. A consultant can evaluate your revenue cycle management and provide detailed, data-based advice on how to improve.
Call Consult CMF When Your Medical Practice Needs Change
Consult CMF helps healthcare practices streamline their processes. To contact us, call (443) 472-6529 or click here.