fbpx

5 Tips for a Successful Small Business

5 Tips for a Successful Small Business

Chances are that when you were in medical school, there weren’t any business classes. And if there were, you probably focused your time on the critical task of learning medicine. But now you’re running a private medical practice, and you need business knowledge and skills to make your practice more efficient and profitable. 

 

Market your practice

Patients have more choice than ever when it comes to choosing their health care providers. You need to build your practice brand and make sure that you’re showing patients and potential patients what you and your team offer and why they should choose you over the competition. 

One of the first things you need to do is build or update your website. It needs to load quickly, and it needs to be mobile-friendly. More than 70% of all web traffic is mobile, and 80% of people have searched for medical information, including physician details online. 

Online scheduling is a critical part of a website. Not only does it make it easier for your patients to request an appointment, but if your online booking system operates in real-time, so your availability is up-to-date, you can streamline some of your administration, too. 

You also need to make sure that your specialty, expertise, and approach to medicine and patient care are apparent. Let your patients know what they can expect when they choose your practice. 

 

Monitor the competition

An essential part of marketing and staying competitive is keeping an eye on what the other practices in your city, neighborhood, or community are doing. Other practices in your specialty area are treating patients who could be yours. Review their website. Read their blogs. Check out their social media. Discover what they’re doing to and figure out how to do it better or show how your practice is different.

 

Streamline your practice

There are never enough hours in the day to finish all of your tasks and responsibilities and have time for your family, self-care, or recreation. Fortunately, technology has made it easier to streamline your business processes. For example, medical practice management software can help automate many of your processes. Virtual information is also stored in the Cloud and easily searchable, which can also save you time. 

Your practice may also benefit from having strict policies and procedures. Every member of your team will know when and how to complete tasks.

 

Hire the right people, and support them

Speaking of your team — recruitment isn’t a task; it’s an opportunity to develop your practice. When you have the right people, from billing specialists to PAs, they help provide an outstanding service to your patients and complete the tasks necessary to keep your business operating efficiently and profitably. Make sure they have the training and resources they need to perform at their peak ability. 

 

Get involved in your community

Getting involved in your community is a great way to expand your network and help potential patients get to know you. Whether you sponsor a community event or attend MeetUps or networking groups, building your circle of contacts is helpful to business growth. The more you get to know the people in your community, the more likely you are to get patient referrals or find the right employees to add to your team. 

 

Whether you want to grow your practice or find efficiencies, you need to be smart about practice management. Here at Ferndale Road, we offer practice management software solutions like e-Paper Road to help you save time on standard but often time-consuming tasks like responding to patient record requests. Contact us to learn more.