As we prepare for the arrival of the new year, many medical practices are sitting down to review the past year and set goals for the year ahead. Establishing clear objectives is one of the best ways to ensure that you meet them. After all, it’s much harder to know if you are on target if you don’t have a target set! Here are some of the top five ways that your medical practice can set successful goals this year.
Setting Successful Goals for Your Medical Practice
- Think about what your overall objectives are. Many practices make mission statements to define their goals and outline what the practice should do. What market does your practice serve? What makes your practice attractive to patients? What problems, beyond the obvious, do you solve for your patients? Why are you different than other medical practices? How could you improve on what you are doing to become even more effective?
- Make goals that are SMART. What does SMART mean? Goals that are specific, measurable, attainable, relevant and time-bound. While making SMART goals sounds like it should be simple, it often involves looking at data that can make you feel uncomfortable. Make sure that you accurately measure data for your goals and assess your progress throughout the year, even if you haven’t made any.
- Identify any challenges that stand between your medical practice and its goals. For example, if your initial goal was to attract 1,000 new patients this year but your appointments are already full months in advance, that might be a challenge. Thinking critically about challenges helps you to adjust goals and proactively counter the problem.
Not sure where to start? Some examples of specific goals for a medical practice include:
- Attract # new patients.
- Design and run a campaign to increase patient retention rates to #%.
- Invest in two new staff trainings.
- Expand your practice to include one new service.
- Decrease your operating costs by #%.
- Improve the quality and quantity of online reviews for your medical practice.
- Take leadership classes to ensure you are effectively leading your team.
Make Your Medical Practice Even Better with Medical Business Partners
Medical Business Partners conducts many coding audits, leads educational trainings and forums and boot camps for staff and physicians. To learn more about our coding and billing services, start-up consulting, credentialing services or other ways we can help you increase your revenues, please contact us through our website or by calling (202) 390-3966.