So you say it’s time to establish some goals in your practice. Well, congratulations. That is a big step toward improving practice profits. I have a few suggestions for you to consider as you work through the process.
1. Establish reasonable practice goals. These should stretch the team’s ability but are not so far beyond reach that the staff feels they are unattainable.
2. Establish specific, measurable goals for each employee. Individual performance directly affects practice performance. Individual goals should complement practice goals, such as increasing collection ratio, improving accounts receivables, expanding production, reducing time to prepare treatment rooms, and increasing clinical skills.
3. Establish practice systems that support the goals and fuel their success. Additionally, provide employees the tools and training to succeed. If you expect collections to be at 98%, provide necessary training so they know how to achieve that rate, and assess progress monthly.
4. Provide each employee with a clear job description. Define the job that each employee is responsible for performing. Specify the skills the person in the position should have. Outline the specific duties and responsibilities of the job. This enables individual employees to better understand their role as well as how they fit into the overall success of the team.