How do you know if YOUR practice is stable?
Obviously, there are many shades of stable. It’s a relative term.
Here are some stable “markers” that you should be aware of:
1. Referrals – The more referrals you enjoy, chances are, the more sane and profitable you will be. Patients referred in, for the most part, come “pre-told” and “pre-sold”. Referrals are a byproduct of doing a lot of things right. A lot.
2. Reactivations – Past patients returning for more care. It’s a sign that not only did you do right by them the first time, but chances are, as a member of ChiroTrust, you haven’t ignored them since.
3. The Ability to “Keep Staff” – Whenever a doc says, “I just can’t seem to keep good staff”… I KNOW that it isn’t the staff. That doc/practice lacks momentum, systems, and maybe even integrity. People work for people they respect or who minimally trust them enough to let them do their job without too much micromanagement.
4. Fewer Partners, Policies, Procedures, Products/Services – Less is more. The fewer decision makers, rules/requirements, things to sell or do, the better. Complexities confuse staff and patients. The more things that must be maintained and managed, the less stable the business.
5. You – Your attitude, your confidence, your capabilities. How you occur to others and how you occur to yourself. I’m talking about self-awareness. Know what you are good at and what you suck at. Then, build your practice, your business, around that so everyone wins. If you aren’t stable, then nothing else will be either.