I’m Dr. Hassan, a Board-Certified Physiatrist and Independent Practice Owner. I help physiatrists start and grow their own profitable practices so they can achieve financial independence and live without limits.
We all want our practice to grow. However, during start-up, you have to balance your practice growth rate with your ability to keep on top of the practice launch. You don’t want to get overextended because that will cause you to cut corners, and your future success may suffer.
Controlling the rate of practice growth is challenging to do, especially if you are moonlighting. In this situation, you have so many more balls to juggle because you have work issues to deal with, as well as practice issues. The key to effective practice growth control is excellent organization and planning.
Micromanage for practice growth control
During your start-up, it is more important than ever to micro-plan your projects. For example, if you install a brand new EMR, add a C-arm, set up a state-of-the-art ultrasound machine, and bring in a new EMG machine, you must oversee every detail to ensure things go smoothly.
To control practice growth, you need to take this type of calculation to the next level and develop a detailed hourly spreadsheet to account for your hours each week. Put your total hours and tasks required into a spreadsheet. Break down each of the functions, week by week. Estimate the number of hours you will need for each item during the week. Add in some cushion time to deal with unanticipated issues.
Add general administrative tasks, work and family responsibilities, and leisure time requirements into the spreadsheet as well. This type of planning exercise will help you control your practice growth because it will be easier to see if you are overextending yourself. An overextended person is a stressed person. And a stressed person is not an effective practice manager or care provider.
The bottom line
To control practice growth, the best thing you can do is make sure you have a handle on everything you are working on. Break large projects down into smaller pieces. Fit your projects into the other responsibilities you have, whether those are work or family related. Take a look at your weekly commitments and ensure you are not spreading yourself too thin in any one area. This micromanagement approach will ensure your practice growth rate does not spiral beyond your ability to keep up.
Need help starting your practice? Check out these great tips on getting your physiatry practice off the ground.
I’m Dr. Hassan, a Board-Certified Physiatrist and Independent Practice Owner. I help physiatrists start and grow their own profitable practices so they can achieve financial independence and live without limits. Follow me on social media @DrHassanRehab.