Private practice owners forget to look at their practice as the always-viable business it should be.
If so, you are likely digging a gigantic hole in your financial future by not telling patients exactly what they require to return to optimal health.
One of the biggest mistakes we can make in private healthcare is to treat the patient based upon third-party benefits (or lack of) and our own perceptions of what the patient may or may not be able to afford.
Worse yet is the private practice owner that lets their staff dictate financial policies in the practice, based upon their own financial belief system.
One of the reasons this happens is private practice owners forget to look at the practice as the always-viable business it should be.
You need to know your expenses, staffing costs etc., but you need to know most especially the life you desire to fund from the practice.
With all due respect, if you find frank discussions about finances and patients spending money uncomfortable, you are far better served working for somebody else or practicing in the publicly funded sector.
This is becoming truer day by day.
The reality is you can start by taking a hard look at your own financial belief systems. If you think, that “no one in this town has any money”, I guarantee you this will manifest itself.
If however you move towards specialization, providing unique services that your patients really want and are asking for, creating a more spa like environment as I spoke about many years ago in “Living and Practicing By Design”, the reality is you can thrive and make an exceptional living in private healthcare.
If you doubt this, get a membership at a local health club.
Better yet, sit in the reception area of a local spa, or even massage therapy franchise.
The very same patients that are telling you they can’t afford your services are spending money on themselves elsewhere, I guarantee you.
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