boy-looking to future

My vision for you is that you will double your revenues and achieve 20% profit in three years as a hybrid cash/insurance medical practice.  There are five milestones on the journey from traditional insurance to a thriving hybrid practice.  

  1. Grasping the VISION to become a hybrid insurance/cash practice  
  2. Maximizing revenues as a traditional insurance provider 
  3. Creating a culture with an Owners Mindset 
  4. Permission and education on how to sell  
  5. Unleashing recurring revenue through memberships. 

Today, I am going to talk about Milestone Number 2:

#2: Maximize revenues as a traditional insurance provider  

When I first started on my own leadership journey as a traditional insurance provider, there were a lot of leaks in the ship. A big turn-around moment for me was when I began leading our team toward the future – instead of relecting on the past. What’s done is done. The enemy of progress is distraction and comparison.  

Do you recognize yourself in any of these phrases I had a history of repeating?

  • Why isn’t my clinical staff able to get their patients to complete their plan of care?
  • Why is our no activity report (active patients without appointments) so large? And why can’t my staff convice any of these patients to return?
  • Why can’t my staff increase the number of visits when we record a spike in evaluations?

Often, I came to the conclusion that my staff was the problem – and I would just throw my hands in the air!   

How to look ahead vs. behind:
  • Step 1:  Mindset of Abundance: My team is awesome, talented and capable. 
  • Step 2:  Look ahead:  If patients have missed appointments, they are off the schedule. The likelihood of them coming back is extremely slim.  Focus on new and current patients.
  • Step 3:  Establish yourself as the Guide:  You will close the gap from where they are now to where they want to be
  • Step 4:  Team approach: Every team member takes responsibility and sees themselves as a vital part to guiding the patient on this journey.  

We have been working on this as a team and are experiencing incredible results!  We set a goal to get all our patients schedued for a minimum of 10 visits. By doing this, we would increase our annual revenue by $250K each quarter – and $1 million per year!!!! That’s right; 1 million dollars!!!  By sharing these goals with the team, and following the five steps above, we are well on track! The team is NOT the problem – they are the solution.

  • Jan: Evals 165, Visits 1377 = 8.3 Visits per Eval
  • Feb: Evals 144, Visits 1489 = 10.3 Visits per Eval
  • Mar:  Evals 147, Visits 1608 = 10.9 Visits per Eval
  • Apr: Evals 116,, Visits 1413 = 12.2 Visits per Eval

We are now systematizing “The Journey” for our patients and implementing consistent training for our staff.  I will be sharing this system with you soon!!!

Grateful to be on this journey with you,

Dr. Matthew Harkness

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