7 Useful Tips in Managing Your Independent Medical Practice Efficiently

The healthcare industry in the U.S. remains very competitive, and players should improve their efficiency to stay in the game. If you are running an independent practice, you should use strategies like using new medical software to boost your operation and attract new clients.

Based on a report by Prescient & Strategic Intelligence, the global healthcare sector will continue to grow in 2019-2024, with the U.S. market posting the fastest growth at a projected 6.6% compound annual growth rate. Among the factors driving growth are improved healthcare infrastructure, better economic performance, and the prevalence of chronic diseases like cancer and cardiovascular diseases.

As a private practitioner, you need to develop an effective management plan to attract a higher number of patients than your competitors. Here we provide top pointers on how to handle your clinic smoothly and gain more patients.

Steps in Managing Your Medical Practice Effectively

Properly managing your clinic needs a comprehensive assessment and planning strategy. You need to improve your standard operating procedure if you are always behind schedule, and your practice is chaotic. Here are the primary steps you should consider to enhance your operation:

• Monitor your patients – Instruct your staff to maintain an accurate record of the number of patients you see each day. The data should include the time you spend with each patient, the time of the day with the most number of visits, and the number of first-time clients. You should use the data to manage your patient load effectively.
• Develop a marketing and advertising plan – Analyze the needs in your area of operation and use your observation to identify the services you should offer. You should also implement strategies to market your services and secure a competitive advantage over your rivals. Among the methods are posters, flyers, and social media advertising.
• Improve financial policy planning – Having a sound policy bolster the stability and economic health of your practice. Among the aspects of your system are payroll, budgeting, accounts payable, accounts receivable, and internal controls.
• Comply with regulations – Ensure your practice is compliant with U.S. regulations like the implementation of electronic health records (EHR). By using EHR, you will automate your patient data for better management, as well as eliminate paper works.
• Install practice management software – By using the latest medical software in your practice, you can streamline processes like patient scheduling, medical coding, medical billing, and collections. Ensure that the software you are hiring meets the requirements of your practice. You should also purchase your software from credible medical software suppliers to ensure sufficient support.
• Use online scheduling – Create a website of your practice where patients can schedule their visits online. Among the benefits of online scheduling are reduced staff work, patient waiting time, and cancellations. Introducing online appointment services can also improve your reputation and may result in a higher number of patients.
• Conduct regular staff meetings – Meet with your staff regularly to discuss the essential needs for your day to day operation. You can also seek the inputs of your employees on how you can better manage time and resources.  Regular meetings will also improve the personal and working relationships among your staff.

The proper management of a medical practice results in better services to patients. With better services, you will be maintaining the loyalty of your existing clients and attracting new ones.