This highly regarded multi-doctor specialist practice with five consulting suites, 20 doctors and 24 staff had organically evolved over two decades.
Patient numbers and size of referral base had enjoyed successful growth. Yet there were concerns that the business could be doing a lot better and the current administration team were over stretched. Problems included:
This is a common issue with medium and large sized practices set-up without a rigorous approach to business or sufficient staff capabilities and training. In this case, there was $13M of transactions per year and a $2M payroll but not a single experienced or qualified Manager. It’s little wonder they couldn’t get benefits from increased size.
The practice had tried a Business Manager who didn’t know a great deal about medical practice management and failed to deliver any improvements over a 12 month period and spend of over $100k.
We provided a long-term in-house solution – not a 6-month arms’ length consultancy – with a promise to see things through by way of a 3-year plan with KPIs set for each year. Our solution was implemented as follows:
As well as Improved profit and reduced costs, we’ve increased resilience and efficiency by removing single points of failure – like a practice manager who is omnipotent but lacks capability as a manager.
We embedded clear organisational Policies and Procedures and the client is now invigorated to have:
IMPORTANT: This article is not comprehensive and does not constitute legal or medical advice. You should seek legal or other professional advice before relying on its content, and practise proper clinical decision making with regard to the individual circumstances. Persons implementing any recommendations contained in this article must exercise their own independent skill or judgement or seek appropriate professional advice relevant to their own particular practice. Compliance with any recommendations will not in any way guarantee discharge of the duty of care owed to patients and others coming into contact with the health professional or practice. Avant is not responsible to you or anyone else for any loss suffered in connection with the use of this information. Information is only current at the date initially published. © Avant Mutual Group Limited 2023
“As doctors, we have limited ability to think of all the important things required to make good business decisions. Having experienced advice, set-up entirely to meet our needs and from a doctor’s perspective, is the only sensible way forward. The ability to commit to joining us on the journey, and provide plug-in solutions is invaluable”
Call us on 1300 469 866 (Monday – Friday: 9am to 5pm) or fill out the form below.