Profit Leadership

Profit versus Purpose 

Profit is not a dirty word. All organizations need profit to give more value to their customers. Your team is the profit center to your practice. Each department in your practice is a profit center. A profit center is a branch or division of a company that directly adds or is expected to add to the entire organization's bottom line. But humans don’t want to be referred to as a profit center. We are people who want to have a purpose. We want to enjoy our work, trust our team, be surrounded by people who are committed to our success and have a positive impact on the results. We want to feel grace, ease, flow and joy in our day-to-day activities. 

Stop Leaving Money on the Table!  

When we focus only on profit and not the people, we will be very disappointed with our bottom line.  Here are the top 5 ways you are losing: 

1. Lack of Route Planning for patient flow. 
2. Poor Communication between departments. 
3. Lack of role clarity & expectations. 
4. Lack of accountability to each other's success 
5. Lack of follow-up. 

Start Setting Your Team Up for Success! 

After all, it is our people who make profit possible. There is a connection between the above list your team! Can you spot that missing link? It’s Leadership! How are you setting your team up for success so that they have a positive impact on the bottom line?  

Here are the top 5 ways you can win: 

1. Train your team, together, all departments, what the patient route should look like. Break down the patient experience from new patient to loyal customer! Once a person becomes a patient, are we organized and prepared for their treatment, the financials, revenue opportunities for the whole family. Preparing for a patient to come in for treatment starts days before they enter the office. Email us to request our free route prep checklist, 
2. Practice success is all about communication. How often do you look at the patient's experience and break it down. Where is the miscommunication? How could we inform the patient better so they know we are all on the same page as a team? When we set our patient’s up for success, we succeed! Poor communication is the biggest profit leak of them all! 
3. Rate and rank your team. What is each position? What are they required to do as a part of their role? What knowledge do they need to support other members of the team? Are they fully trained to be successful at their job? Do they have what they need to be successful? What is missing? Are my expectations clear? 
4. Another word that people don’t like is Accountability. Trust is the foundation of accountability. When a team trusts each other, accountability is not only a great word, it’s easy! When we trust each other, we know we are there to support each other and everyone succeeds. Does my team hold each other accountable to the expectations?  Part of being accountable to each other is being able to have positive conflict and open discussion. This kind of communication takes practice, and is reliant on trust. Here are four ways to practice accountability  

• • Mustering the Courage to SEE IT: ... 

  • Finding the Heart to OWN IT: ... 

  • Obtaining the wisdom to SOLVE IT: ... 

  • Exercising the means to DO IT: 

5. The last way to set your team up for success so that you can stop leaving money on the table is in your follow-up. How are you communicating with your patients so that they stay informed, and schedule their treatment, show up to their appointments and pay for their treatment. Follow up is essential to stay top of mind.  

Your patients drive by 50 other practices on any given day. The best way I know to stop the profit leaks and grow your practice is focusing on leadership and communication. That isn’t easy when you are also focused on being a top-rate clinician. But you can and you must! 

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