On Sunday, the world is going to watch the Denver Broncos and the Carolina Panthers square off to take home the Super Bowl trophy. By the end of the day, one team out of the 32 in the league will be declared the champion — the ultimate goal of all the teams and players.
Every team has high profile players at every position. Every team fields a team of executives, coaches, scouts, trainers, and medical personnel. Every team has gym equipment, game and practice fields, film rooms, and playbooks. So what is the difference between Sunday’s champion and the team with the worst record?
It is the marginal difference between good players and great players. The difference between good coaching and great coaching. And that difference can best be summarized as consistency.
The purpose of this article is to point out that although you may have all the right positions being filled in your office, without having a qualified CEO the success of your practice is being limited.
This is because successful medical practice management isn’t about “managing” your practice at all. It is about having strong strategies, efficient systems, and absolute consistency. Many privately owned medical practices want to limit their expenses and one way of doing that is hiring or keeping the least expensive labor they can find. Because of this many people who are titled the “office manager” of a medical practice are both under qualified and poorly trained at looking for the right KPIs (Key performance indicators) and focusing on the right elements of making the practice succeed.
Our company, The Waldo Group, has found success in our abilites to apply our education, training, and experience to the medical practice environment. In the short few years since we opened our doors, we have grown to managing just under a dozen practices implementing the same philosopy wherever we go.
That is, we don’t succeed unless our doctors are seeing larger paychecks and more success for the work they do. This takes consistent work that just like developing a championship caliber team does not take place overnight.
In 2011, when the Carolina Panthers drafted Cam Newton as their Quarterback they were officially the worst team in the NFL which awarded them the chance to draft the first pick. And now in 2015 they are in the Super Bowl. I bet if you ask anyone in that organization they will tell you the last 5 years have been a lot of hard work to get to where they are today.
So the question for your medical practice is 5 years from now will you be operating the same way you are today or will you make changes today by hiring a qualified CEO that will allow you to look back year over year and see how much progress you have made? The ball, as they say, is in your court.