Jeff Russell’s new book “Secrets to a Successful Practice” is for anyone practicing medicine today, and especially for all healthcare providers who are looking to operate a profitable practice. Most medical professionals have serious and personal reasons for entering their field, one is to improve the quality of their patients’ lives, and one is certainly income. We all need money to live, and money is, indeed, important.
In his book Jeff discusses what the most profitable practices do, which is to focus on these four items:
It is critical that you don’t miss this first step towards operating a success practice—knowing your core purpose.
Once you have a strong purpose, brand promise (USP) and practice core values, you will have a guiding light on which to base all other decisions relating to the practice, from hiring the right people, offering the right procedures, and seeing the right patients. With a clear why, the road ahead will be much clearer for you and your team.
Many businesses know what they do and they just work at doing that, and that is why they never reach the next level. If you want to have a small practice, where you make a good living, that strategy may work for you but it is really just a job. The key to a profitable practice that hits the next level of $1, 2 or 5 million revenue is having a people process in place. Team members play a significant part of a successful practice. Without employees who are dedicated to the success of your business, the business will not grow and in fact, may even perish.
Growth is a core value which means you are always looking for better ways to do things. Growth should be a critical mindset for you and all your team members. If you stop growing, you will soon find yourself in trouble. One important part of growing is to ensure that you have an effective marketing strategy in place, one that is getting you new patients. Often, people just throw money at marketing and hope for the best. You should not spend any money on a marketing initiative unless you can clearly measure the results. There are five components discussed in the book to ensure a successful marketing strategy.
Tracking is one of the hardest parts of running a practice. Those who do it well are among the most profitable practices. It’s important you have a solid tracking system in place to ensure that all the components of the practice are operating smoothly.
About the Author:
Jeff Russell is a best selling author, founder and Executive Director of the IAPAM. Jeff is also an estabilished aesthetic industry thought leader and business expert in the medical spa and aesthetic practice industry. He is a sought-after contributor to reputable medical publications including: WebMD, Cosmetic Surgery Times, Dermatology Times, Healthy Aging, MedicalSpas, Southern California Physician, ACP Observer, MedEsthetics and the Aesthetic Medicine News.
Jeff’s expertise focuses on educating healthcare professionals toward successfully integrating aesthetic procedures into medical practices. His expertise also includes social networking, mobile marketing, online communities, blogs, viral marketing, wikis, and PPC advertising with Google AdWords. Jeff Russell is also a frequent chair and lecturer at healthcare conferences. He is a member of the National Speakers Association (NSA) and ASAE (American Society of Association Executives).
For more detailed tips and steps on how to develop your practice’s purpose, people process, marketing strategy and tracking, you can check out Jeff’s latest book, Secrets to a Successful Practice available now on Amazon or attend the Aesthetic Practice Startup Workshop at an upcoming Aesthetic Medicine Symposium.
If you are looking to grow you and your established practice, we would love for you to attend our annual Practice Growth Symposium. This unique program is for those with a growth mindset that want to keep growing!