It’s no exaggeration to say that a doctor and a private medical practitioner’s most valuable asset is their time. When doctors find themselves burdened by the monotony of the day to day, feuding with a lab or manufacturer for the medical supplies that their clinic needs, they cannot devote their effort to the work that means the most to them—seeing, and caring for their patients.
Being more aware of workflow and productivity processes, private medical practices, clinics, and hospitals can boost morale and patient satisfaction in less than a year. Restricted as physicians may be by regulatory or administrative responsibilities, a strategy can be implemented—like our KASPAR Practice Management franchise model.
Identifying the Workflow
Although sometimes challenging, it is highly beneficial to one’s own personal and organizational productivity if responsibilities and activities become mapped and examined from a more objective perspective. You want to analyze and map out every step, of every procedure—be it the medical or the marketing. According to our KASPAR Practice Management specialists and U.S. medical experts, some of the key areas include:
Analyzing Your Practice’s Processes
As you deconstruct the daily activities of your private practice, be mindful of the ways in which a doctor or employee affects the greater whole. When KASPAR Practice Management consults with doctors and private medical practices, our specialists encourage physicians and staff to visualize every individual bit of their workdays.
By visualizing and re-designing operational workflows, private medical practices within Chicago have radically transformed themselves, the atmosphere, and environment of their workplaces.
Directly Inspiring Your Clinic to Succeed
If there’s ever a hurdle in streamlining your clinical operations, it’s being able to admit that each employee and process is not perfect. In the corporate world, this means buy-in. You want every employee at your clinic, including your lead doctor, feeling that you have a proven methodology and a sense for the efficiency of your operation.
Instead of relying on Staffing and Human Resources firms, you can partner as a private medical franchise of the KASPAR Practice Management system reaping all of our expertise and mastery of workflow and operational efficiency.
As we near the end of 2017, we here at KASPAR Practice Management want to discuss all the opportunities for private practice doctors and entrepreneurs who want to open or convert medical clinics of their own.
Conceiving and Implementing a Profitable Business Plan
Your average doctor may not be a salesman or woman at heart, but like any business, a medical clinic must maintain a margin of profitability. Without conceiving a proper business plan, doctors find themselves muddled in the minutiae of staffing, billing, insurance, equipment upgrades and repairs, and even marketing.
Being realistic about your business, and the costs involved in running it should be a priority from the start. Once you have an inkling of your operational expenses, you gain more leverage with a bank or investor.
Obtaining an Investment in Your Private Medical Clinic
Cumulatively, the cost of opening, staff, training, and marketing your private medical clinic could range from $100,000 to $500,000, depending on the location of your practice, the demographics, and medical market itself.
In order to succeed as a private clinic, you’ll need to convince yourself, your staff, and investors that there is a viability, and an opportunity for your practice to flourish. Ultimately, once you have a lump sum loan from an investor or bank, your monthly revenue as a practice must exceed that monthly repayment.
Securing Insurance and Coherent Policies for Your Clinic
Regardless of your vision for your medical clinic, securing insurance for your practice cannot go overlooked. By having indemnity insurance and coherent compliance policies, you minimize risk to your staff and patients.
To minimize risk, and prevent against foreseeable accidents and emergencies, you need to train your doctors and staff in best practices. Without an official means of training and educating your clinical staff, you can be affected directly by faulty medical equipment and human error. Prior to opening your private practice, your policies need to be clearly established and conveyed.
Strengthening Your Clinic with Latest Medical Research & IT
After you’ve calculated for all of your operational, marketing, and insurance costs, you’ll want to remind yourself that a private practice is only as effective as the technology and tools it has in its grasp. Today in 2017, medical technology extends far beyond machinery, encompassing apps & IT.
KASPAR Practice Management allows private practice doctors and entrepreneurs to avoid the headache and the struggle of opening and maintaining their private practices. By offering its administrative support, and high-tech equipment, KASPAR Practice Management designs medical franchises for doctors who want to excel in their field.
Anyone who has worked in the medical industry within the last ten years cannot deny that private medical practices are suffering. Whether you ask neurologists, dermatologists or cardiologists, their answers remain the same: entities have intruded in the medical field too much. Between the Affordable Care Act and the bureaucracies of corporatized hospitals and healthcare providers, the cost of medicine has been rising, adding countless obstacles for doctors and their patients along the way.
The Historical Trends
Back in 2005—not so long ago—more than two thirds of medical practices throughout the U.S. were owned by a practicing physician; the remaining third of practices belonged within the charge of a hospital or larger medical conglomerate. In the 12 years since, the ratio has swung to an even 50-50, as thousands of practices have been forced to close their doors or surrender their ownership and autonomy. Part of the problem, according to physicians and our own experiences, has been the sheer burden of administration and paperwork.
The Operational Redtape
When doctors and their staff spend hours upon hours filling out paperwork for billing, and equipment, and insurance, they simply can’t devote themselves wholeheartedly to the care that their patients receive. In some cases, practices go so far as to hire a chief compliance officer to ensure they are following government procedure. Guaranteeing reimbursements from Medicare and Medicaid has also proved problematic—often meaning that doctors at private clinics are paid less than those working at hospitals, for the same medical services.
The Consequences for Care
With such enormous strains felt by doctors at private clinics, perhaps the best, and only logical step in this situation is for doctors to ponder a franchise that is assisted and supported with the administrative, technological, and commercial side of the business.
A Solution to Bureaucracy
At KASPAR Practice Management, we’ve devised a patented system that gives practices the opportunities and resources they need to succeed and survive in the modern-day. To learn more, please browse our site.
Alarming though it may be, one in every four private medical practices is struggling today in the United States. At KASPAR Practice Management, we aim to correct this by integrating private medical clinics into our patented KASPAR Practice Management model. One of the ways we help practices succeed is through competitive and effective marketing.
See Your Marketing as an Investment
Regardless of your specialty—be it in medicine or the founding of businesses—you should not view the marketing of your clinic as simply an expense. By narrowing down on the marketing of your clinic, you can ensure that your monthly revenue far exceeds the cost of promoting your practice. Our specialists at KASPAR Practice Management have the skills to craft a marketing strategy that will maximize your ROI. After researching your clinic, its area of specialty, its local competitors and region, we will help you create a unique brand that is reflective of your culture and philosophy as a medical practitioner.
Promote Your Practice as a Medical Solution
Perhaps one of the best ways to define yourself and your practice in the modern field of medicine is effective messaging. When the average American searches for a private clinic, he or she is not searching by the provider, but the solution. Over 90% of prospective patients are actually researching a specific disease or medical condition. If a patient can clearly see what your clinic offers, and how it treats its patients, you’re more likely to see an influx of activity.
Aim Your Services Toward the Patients You Want
If you outsource your practice’s marketing, you’ll often be given metrics measured in traffic to your website. While increased traffic can result in more calls and visits to your clinic, you can easily distinguish between quantity and quality. Ideally, you want patients searching for your exact medical solution, administered by physicians of your practice’s caliber. Because KASPAR Practice Management clinics are assisted with marketing alongside management, you receive the patient you want, retaining them and gaining referrals.
Preparing Your Staff for the Challenges Ahead
Once your phone lines are ringing and your clinic is swelling with visitors, you need to make sure that increase in activity will be followed by an increase in revenue. By properly training your staff in clinic operations and procedures, you’ll maintain an environment at your clinic that is as comfortable as it is inviting. KASPAR Practice Management has the resources and the experience to guide you and your private practice through all the steps of being the successful business you’ve dreamed of being.
In the last 100 years, the medical field, and the world as a whole has transformed, in the wake of technological advancements. The relationship between medical patients and their practitioners has changed most dramatically, as healthcare dangles from legislators. Today’s patient, hemmed in the modern, judges their healthcare not by their provider, but by their caretaker. He or she rightfully assumes that their doctor is one of the best and the brightest. Great as a doctor may be, versed in medical knowledge and bedside manner, he or she is at the whim of their technologies.
The Crux of It
Hospitals, clinics, and medical professionals ultimately rely on technology to serve patients and large-scale communities. What ails them the most in their day-to-day, beyond even the technological, is the modern medical system, and the health insurance companies. Sapped of their funding and understaffed, they persevere nonetheless. Unless included in a system like KASPAR Practice Management, physicians struggle against a rigidity and bureaucracy in medicine.
Out of the realm of biomedical research comes innovation. When immersed in the discourse of the researcher and the doctor, physicians can directly apply tools and techniques in the medical field. Population scientists may not be the most popular of researchers, but they’re revolutionizing how doctors think and treat patients in terms of demographics. By viewing and organizing their patient data, physicians can easily see trends that may foretell or highlight epidemics. Statisticians go as far as pinning down obesity rates, occurrences of heart disease, and death rates. Physicians evaluate illnesses in this way, judging their lengths and frequencies, patient by patient.
Doctors with access to evidence-based medical procedures gain authority at their medical specialties. The Taiwanese exemplify themselves internationally by their usage of statistics in the practice of medicine. As the nature of diseases, and the world itself rapidly changes, doctors need a resource that supports them and keeps them educated. A KASPAR Practice Management franchise excels in how it utilizes the latest technologies, equipped within a network of private clinics.
It is essential to remember that neither humans nor doctors are machines. Intellectually and emotionally driven, doctors can succumb to stress and burnout like professionals in any other field. In 2014, over 63% of family physicians were said to experience symptoms of burnout. At KASPAR Practice Management, we see the roots of this problem in how the U.S. healthcare system operates. Because of inherent design flaws, physicians are leaving their practices, overburdened and unhappy.
Already under severe physical and mental strain, physicians suffer from a lack of autonomy and flexibility in how they work. Because of how public hospitals and clinics are structured, they rarely have input on the most crucial decisions—staffing, purchasing equipment, and practice protocols. Burnout among physicians is not to be underestimated or ignored. The risk of medical error, turnover, substance abuse, and suicide increases, the more that work adversely affects one’s quality of life.
Among medical students, residents, and doctors, there is a tendency to develop a so-called “superhero” complex. Often this occurs because of pressures on physicians, and conviction that the fate of their patients rests solely on them. Ultimately, the best counter to a case of heroism is delegation. When physicians and their staffs are able to communicate efficiently, responsibility is divided evenly.
Revisiting an aforementioned phrase, we cannot forget that doctors are biological, as well as psychological creatures. When restful sleep, regular exercise, and extracurriculars fall to the wayside, so does our stamina and our confidence. It is imperative that doctors focus on their health and wellbeing, too. Unfortunately, due to staffing shortages, most offices in the U.S. require that physicians schedule their vacation days three to six months in advance. If doctors can’t get out of the office when work is most stressful, they are liable to burnout all the more.
When stress is most threatening, doctors should remind themselves why they entered the healthcare industry. By identifying their motivators, and rekindling their passions, doctors can immunize themselves against daily fatigues. During moments of self-reflection, it may dawn on them that it’s not their fault—that it’s their environment that is toxic and draining. KASPAR Practice Management was conceived to be a refuge and an inspiration for doctors.
If you’re a doctor or entrepreneur, chances are you’ve pondered the possibility of owning your own medical practice. You could be frustrated with the bureaucracy of your hospital; or more practically speaking, you may see the enormous potential for revenue. As the U.S. goes without major healthcare reforms, medical costs are skyrocketing—so much so that they could encompass 20% of U.S GDP by 2020. The decline of the Affordable Care Act has only exacerbated the situation; leaving millions of people still seeking treatment, wherever they can afford it.
If there was ever a call for a more efficient system, led by cooler, sharper minds, it is now in 2017—and entrepreneurs are answering it.
Between dentistry, neurology, massage, urgent-care, senior care, and chiropractors, there’s no shortage of specialized clinics that are in demand. Patients are searching for high quality medical services, conveniently organized, at any affordable price. Among those who are searching for services today, the Baby Boomers are perhaps the most demanding of them all. As they age, they’re relying on medicine more than any other portion of the population. Glancing at the numbers, you realize that there simply aren’t enough physicians to treat all of our patients. Moreover, the financial motivation for working longer hours, understaffed, in hospitals isn’t there.
The Franchising Solution
With doctors looking elsewhere for the money, and the work that they want, it makes sense to think about franchising or starting your own practice. Under the guidance of our KASPAR Practice Management system, all of the feuding with insurance companies, billing, staffing, and marketing is no longer the concern of physicians. Medical clinics are able to utilize the best technologies, skills, and practices in their industry, while giving patients the individual care that they require.
By moving away from the constraints of more traditional medical practices, a modernized and independent franchise can a be leaders in its speciality. By leveraging unique payment plans, clinics can encourage their patients to visit them more regularly—reducing the costs of overhead and the unpredictability of revenue. As the advantages of franchising dawn on doctors and their patients, the stigmas are dissolving, and business owners are celebrating.