When you lead a dental, medical, or veterinary practice, it is incredibly easy to get swallowed
up in the day-to-day minutiae and lose sight of the bigger picture. Practice owners oftentimes
are faced with so many micro-decisions that they simply do not have enough hours in the day to
engage in long-term, macro lens planning. And ultimately, this can prove to be a huge downfall.
In this blog, we will discuss the benefits of big picture thinking when running a private
practice—and why you may want to have a partner who can guide you, help you spot
opportunities, and be there to act as an advisor when strategizing on key decision making
related to practice growth, talent acquisition, and other important business functions.
Every business requires two different types of people to succeed in the long-term—a person to
focus on the day-to-day and a person who views the business through a 30K-foot lens. The
latter of these two is the business leader who is constantly looking for new opportunities,
plotting the course of the company, and engaged in ideation. The former is in the trenches,
ensuring staff members are doing what they need to and ensuring productive and efficient
operations.
It is really hard to live in both of these roles as a private practice leader. Throw in the need to
see patients and ensure positive outcomes? Well, there are not enough hours in the day.
What’s more, is that your energy and attention across all of these demands requires skills and
ways of thinking that may not come naturally to you.
When you opened your practice, you likely did it because you are passionate about helping
your patients achieve positive health outcomes. After all, that’s what you spent years in school
for. What you didn’t count on was what actually goes into running a practice. For instance, faculty likely didn’t instruct you on:
Those are just a handful of the things that go into running a successful private practice—and we
haven’t even touched on the need to ensure quality patient care and service!
So, how does one do all of those things, manage patient flows, and then find the time to look at
the business strategically? Speaking from experience, most private practice owners cannot do
all of these things simultaneously, and it’s the bigger picture that gets left to the wayside.
And unfortunately, when you get bogged down in the weeds of practice administration… the
practice suffers, and patients might look elsewhere for help.
Operating a private practice is about more than just practicing dentistry, medicine, or veterinary medicine—and no matter if you are a veteran practitioner, or just starting out, the business side can be overwhelming. However, when you partner with a business consultant who is well-versed in the challenges practitioners face, your private practice stands to benefit in a variety of ways, including:
Those bullet points are only the tip of the iceberg when it comes to managing the business side
of a private dental, medical, or veterinary practice—and we are experienced in helping private practice owners institute and sustain day-to-day business practices while also advising and consulting with you on how you want to grow your practice, achieve short and long-term plans, and create a roadmap to attain financial success.
Reach out to LenDRgroup Consulting today and set up a consultation with a member of our
team. We are passionate about helping dental, medical and veterinarian practice owners run
their businesses, plan for the long-term, and make dreams become a reality.