Are you making these mistakes?
The biggest mistakes you can make today is 1) DOING NOTHING and 2) Trying to figure it out on your own. -JamesPT.com
Here are some more mistakes… WATCH THIS FIRST! >>> (Desktop Only)
- Not appealing denials, delays, and down-payments from insurance companies making you a patsy for them to take advantage of…(phew that was a long sentence).
- Not knowing how to WOW patients. There’s a reason why they are 1) no-showing, canceling and rescheduling last minute. 2) complaining about a $20 co-pay, 3) not bringing in family and friends.
- Wasting money. Big fancy equipment and taking shots in the dark at the next best thing is not the answer.
- Too large of space. For every 1,000 square feet you should be collecting $40k per month. Not billing but COLLECTING $40k for each 1k square feet. And just like a bed too large ruins relationships, having a clinic too large ruins “intimacy” (a key ingredient for success).
- Bad receptionist. You can’t just get someone off the street, pay them slightly above minimum wage, and say “answer phones, prepare charts, schedule patients,…” (and call it training). Anyone can perform these tasks. It’s HOW they perform it that makes all the difference in the world.
- Judging mistakes instead of attitude. The worst mistake you can make is judging mistakes over poor attitude. Everyone makes mistakes but they will eventually get better. Poor attitude is nearly impossible to fix.
- Poor Ads. If you’re going to spend money on advertising, you better do it right or it won’t pay.
- Not enough cash flow. Daily deposits for the typical practice should be between $200-$900 per day ($4k-18,000 per month), this does not include insurance reimbursement checks–only cash, check, credit card payments.
- Frantically pursuing “New Patients” instead of focusing, reactivating and building loyalty amongst established ones.
- Not knowing how to build patient loyalty. Your foundation is weak if you don’t have a 30% or greater loyalty rating. Can’t grow on top of a weak foundation.
- No cash service strategies. Without this, you are probably relying too heavily on insurance-based business only. Being dependent on insurances is not a good place to be right now.
- No elective services offered. Give people options and they typically choose from one of them. No options, no choice, no extra revenue.
- Weak collections and high accounts receivables. You have to go after your money, especially with insurances, or you will be known as someone who can be walked on like a rug. Good luck.
If that’s not enough, here are more…
- Poor billing procedures. Too much billing staff with ill-defined billing procedures is a recipe for disaster. You need 20 hrs of man hours for every 100 visits per week. That’s the billing and collections combined.
- No high value service packages. If you don’t have a $3,000 package, you won’t sell one. If you don’t sell one, you won’t have an extra $3,000. Most pay directly on their credit card.
- Poor staff training plan. You can’t become the BEST without training. Just ask anyone who is the best.
- No marketing plan, just waiting for physicians to refer. There are 15 channels of new patients. If you don’t have a plan, you are probably not tapping into most of them.
- No identity (that’s appealing anyway). Who are you? If you don’t know, neither will your patients, or prospective customers.
- Weak with print advertising. Print is not dead. It’s alive and kicking! If you don’t have a lot of brochures, postcards, flyers, you are probably not as strong as you could be.
- No internet marketing plan. So easy but yet so incorrectly approached by most practices.
- Bad website. Lots of pretty websites out there. But 92% of the them are BAD at converting prospects to patients.
- No team organization tools. Loosely running an organization. Not using a collection of software and apps that can change your efficiency and team organization.
“James is awesome. He will amaze you!” “Take the course. It will save you money and mistakes.”
Kimber Glick, OT
Private Practice 4 yrs
This is a brief description of common mistakes made by most practices. Learn the TOP 10 at a conference near you!