2 Imperatives for Successful Practice Management

Highly effective practice managers emphasize that success in the healthcare arena requires the planning and conduct of operations based on two imperatives: adaptability, and perseverance.

Adaptability

Adaptability is the skill and willingness to develop new structures or methods to accommodate different situations, ones requiring careful mission analysis, comprehensive intelligence, and market-specific expertise. In an era when the future of healthcare may not be predictable, practice managers must avoid overreliance on pre-existing assumptions.

Perseverance

Navigating through healthcare regulations sometimes gives the appearance of not having a clear beginning or end. Indeed it often seems to be a protracted struggle. Perseverance is the patient, resolute, persistent pursuit of practice goals and objectives for as long as necessary to achieve them. It does not preclude taking decisive action but does require careful, informed analysis to select the right time and place for action. While success is important, it is equally important to recognize that in the healthcare industry success will generally not come easily or quickly.

A seasoned practice manager with good leadership skills and a great work ethic can be invaluable to the operations of a practice. Adaptability and perseverance are two essentials if your practice is to survive the turmoil of healthcare reform.

========================================================================

Contact ABISA, a consultancy specializing in solo and small group practice management. Visit us at ABISALLC.com.

Stress Attacks Physicians and Practice Managers

Last week I attended a meeting of the Pinellas Park Medical District. The speaker, Dr. Colette Cseszko, presented a topic entitled “How to Eliminate the Harmful Effects of Stress”. This subject is indeed applicable to the medical community where physicians and their practice managers are being inundated with stress-causing issues today.

Obamacare. What does it mean? Am I ready to meet the requirements of the law for my patients? Am I ready to meet the requirements of the law for my staff as a business? How will this affect my livelihood?

Reimbursement Challenges. How can I better forecast financial profitability? How deep will the reimbursement cuts be next year? What impact will Obamacare have on reimbursement? With the changes in the economy, will my practice be seeing more Medicaid patients? As more baby boomers retire, will my patient demographics switch from commercial insurance to Medicare?

Rising Costs. Do I need to cut staff to survive? Will I be able to budget for staff pay increases? Has anyone reviewed the various service contracts and agreements that the practice has? Is there the ability to negotiate with vendors for better rates? Do I have the time to tackle these important issues?

Competition. How can I better compete for more patients? What should I focus on regarding marketing? Do I have a competitive strategy for my practice? Do I have time to spend on refining a strategy and implementing it?

Social Media. Is it really that important for my practice? What do I need to focus on? How do we get started? Who is going to keep the content fresh? Do I need to hire staff for this? What is it going to cost the practice?

Indeed, there are countless issues physicians and practice managers face. These challenges accumulate to the point that they can lead to frustration, burnout, and depression (in addition to other health-related issues as explained by Dr. Cseszko).

========================================================================

Contact ABISA, a consultancy specializing in solo and small group practice management. Visit us at ABISALLC.com.