Let’s discuss “profitability” - this includes improving your community, your staff’s experience, the quality of your care, messaging & branding. On this week’s podcast, Brian reminds his audience that going into business should be a group activity, rather than for the sole profit of the individual. Remember, who you are is more important than what you accomplish.
Episode at a glance:
- The secret to success is GIVING
- Practice owners who struggle financially typically went into it for the wrong reasons
- You want 30% admin, 70% patient engagement
- Calculate: average collections per visit, patient demographics, cost per visit, gross income & net revenue
- You need to be profiting at least $15 or more per visit/hour
- Commit to a 15% growth in income every year no matter what
- You’ve got to get your operating expenses down to 10% of your annual gross income
Are you ready for growth? Request your free private practice expansion evaluation