4 Common Misconceptions about Practice Management

At the heart of every growing, thriving medical practice is one thing that enables a doctor and their staff to give every patient excellent care, stay organized, and still collect what is owed to them: efficient practice management. Efficient practice management is not a perk of being a larger practice, or something extra you add when you have time to spend on it. It’s an essential factor in how a successful practice is run, preventing patients and problems from falling through the cracks.

Unfortunately, though, there are too many doctors who believe common myths about practice management. These misconceptions can inhibit an otherwise effective office. If any of these sound familiar, it may be time for you to reevaluate your practice management:

Misconception 1: Meetings are inefficient and unnecessary.

Confusion about Practice ManagementThis is a common misconception because it’s based in a partial truth: most doctors do run inefficient, unnecessary meetings that waste time without significant benefits. However, that doesn’t mean the meetings themselves are to blame. Handled correctly and organized well, periodic meetings are a way for doctors and their staff to touch base, address issues, and discuss changes. Even simple daily, five minute “huddles” can help address problems early—IF they are kept short and on-track.

Misconception 2: Pay increases and bonuses are your staff’s biggest motivators.

Finances are a partial motivator for staff, it’s true, because people need to be able to meet their financial needs. However, money isn’t the biggest motivating factor for your staff once their needs are met. Opportunities to advance themselves and master their careers, as well as to take part in the success of the practice, are far greater motivators for staff to excel in their work.

Misconception 3: Training is a new-to-the-job event.

While new employees need a lot of training to be able to execute their job roles effectively and follow your systems and protocols, training is not a one-and-done event. It’s something that has to continue throughout their careers. That way staff stay on top of their job roles, your systems and protocols, and any changes that may take place over time.

Misconception 4:  Better practice management is a luxury.

Efficient practice management is an essential tool if you want your practice to grow and thrive, so investing in it is not a luxury. It’s a part of keeping your practice in business. Waiting until you literally can’t afford to ignore the management problems anymore is disservice to you and your patients. If you need to make tweaks to your management, take the time and make the effort to do so. If you need help improving your management, get it.

At Top Practices, we understand just how important efficient and effective practice management really is for your practice—but we also understand how hard it can be for a busy practice to execute. That’s why we have the Virtual Practice Management Institute (VPMI): to provide doctors and their staff access to the best coaches, mentors, and management tools you need to transform your practice into the one you want it to be. If you’d like to learn more about the VPMI program and how it could help you, contact us! You can e-mail [email protected] or call (717) 725-2679.
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