From the Desk of Dr. Michael Perusich
The Luck of the Irish
Happy St. Patrick’s day! The annual day of green not only brings about ideas of good cheer and fun, but it also makes me think about finances, and the “green” of success.
This is a great time of year to really be thinking about the success path that you are on with your practice and your personal life. Being the end of the first quarter, this is a good time to reflect on your goals that you set at the beginning of the year. Analyze whether you are on track or need to make some first quarter adjustments.
It’s also a great time to analyze your cash flow. By now, you should have a good idea as to how insurance is paying you this year. How does it compare to last year? On which services have they decided to cut your fees? How much of your care recommendations will patients be paying out of pocket in 2019? These are important questions that can tremendously affect your success.
This is also a good time to analyze your patient visits. With January and February being the biggest drop-out months of the year, it’s time to review your procedures for reactivations and recalls. Work with your staff to be certain that those procedures are building your clinic statistics back up and not slowly causing them to go down. Recall procedures should begin within 15 minutes of a missed appointment. Reactivation procedures should be on an ongoing rotation every month.
And finally, it’s a good time of the year to think about the pot of gold...your fees. No matter how great of a doctor you are or how wonderful your staff may be, having poorly established fees for your services can break even the best clinic. Review your fees and make certain you are getting paid what your worth, and charging for the services you perform. Tighten up the financial discussions with patients so they find value in what you are offering. And most of all do not fall into the Poverty Complex trap! Chiropractic care is more valuable than gold.
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