[Weekly Practice Building Blog] How To Build A Better Practice With A Business Audit

Who ever said we weren’t running a business…was probably running a charity!

And it comes as no surprise that many new clients, just are not making as much income as they should.
Perhaps the profit is hidden in the details of some of your key practice parameters.
One of the very first steps I take with ALL my new people and for that matter, all of my existing doctors, is to run a yearly Business Audit.

Just when you thought you were doing a great job in your practice, you quick realize that you may be well below the national average.

I remember a few years ago at one of my seminars, one of our attendees started to cry in the audience, when she realized how much care she was giving away, compared to the rest of the group.

There’s a copy below of my Business Audit that you can print and fill out below and compare to the “international average”.  Keep in mind that some of these numbers will fluctuate, as related to the number of years in practice and whether you are cash or insurance dependent.

Regardless, this is a guideline you can follow and adjust each and every year.

YTD Comparison                                                                                 International Average            Masters Average

 
Monthly New Patients – the # of np’s that start per month                    10                                             25-40
 
Total Adjustment/month                                                                         320                                          1280
 
Adjustment Fee                                                                                     $42                                           $45-$50
 
PVA – patient visit average                                                                    8-12                                          40-60+
 
Adjustment time per patient                                                                  6-10 minutes                             2 to 3 minutes
 
# Hours Worked/week                                                                          38-42                                        28-32 
 
Wellness Care Plans                                                                            none                                          Wellness Plan 2

 

By comparing only the top 3 parameters that can have a major impact in your practice, new patients, PVA and adjustment fee, you can literally DOUBLE your numbers in about 90 days.

Take 30 minutes in the beginning of every January and perform your own personal business audit.

Keep this list from year to year and you’ll quickly discover how minor changes in your practice will have major dividends.

To learn more about how changes observed internationally can have an impact on your practice grab a copy of my NEW e-book, “The Pisiform Code, 67 Split Tests & Observations To The Million Dollar Practice.

 

Click Here To Grab Your Copy for Only $6.97

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