We are going to clarify the relationship between delivering an outstanding physiotherapy service and maximising your profitability. All whilst navigating through ethical business foundations.
It doesn’t have to be hard. In fact it’s only hard if your business is out of balance, where you are working on the wrong things at the wrong time. Or maybe even working on the right things, however doing it in an inappropriate order.
Stand Out Service
There is a direct relationship between service and profit and you should be rewarded for the good work your business provides to society. If your business consistently produces exceptional stand-out service for your patients and your clients, then it should be quite easy to optimise profitability. In fact you deserve to profit from that.
Elite Service Model
To optimize your results, you require an elite service model that everyone in your business is dedicated to delivering. This needs to be documented with your team committed to delivering this. You can’t have team members deviating to their own individual standards.
You need an elite service programme that sets you apart as a business – consistently delivering exceptional end results. The market perception, from both your team members and the community you serve, should be one that stands out. You should be able to differentiate yourself from all other service providers in your vicinity. Not one that fits the mould of “what everyone else delivers”, but a huge stand out service. At Physio Business Growth we’ll help you establish this through our unique 3 step process modelled from what elite international practices deliver.
If you expect your team to deliver exceptional patient experiences at every patient touchpoint, you’ll need to inspect this. You can’t inspect it unless it is first defined. It is for this reason you require a well-defined, documented, elite service model which the whole team works towards delivering.
You must measure and inspect this through various methods, such as KPIs, KPAs, patient note audits and peer reviews. Alongside this runs a performance coaching program to coach individuals or team units. This can be in any area which is under-servicing or not providing the desired and defined service level.
Culture & Leadership
The you have created a culture which thrives on lifting each other up to new levels of service, through a performance coaching focus. This will help to establish your business beyond the mediocre,or being satisfied with being good enough, rather than great.
It’s for this reason that your business needs strong foundations of leadership and a team culture embracing the pursuit of excellence.
This is why Physio Business Growth has a significant focus and development programme on leadership and team culture. The “Premium Business Accelerator” has modules specifically dedicated to this. We cover every angle to help create a team that embraces our aim. That is to have a team that come together in “the pursuit of excellence, who are open and coachable with an attitude of gratitude with everything pertaining to private practise physiotherapy and the opportunity of personal and team growth”.
Once you have these programmes operational and delivering the results to your patients, then your practice management, concierge and customer service programme become standouts.
This will take your business deliverables way out beyond your competitors, way out beyond mediocrity. In turn this will drive profitability, along with the ability to then market your services and drive the numbers.
If you get the process out of order, you’ll be driving in the numbers to a service which is non-optimised and creates huge revenue leakage. Never reaching your profit optimization.
Summary
- There is a definite link between optimised profitability and delivering exceptional service (clinical and customer service).
- Create an elite service model that is documented and embedded throughout your business.
- Measure the correct KPIs and KPAs.
- Performance coach your team if you identify any deficient service levels.
- The underlying foundations that make this possible are strong leadership with a positive team culture.
- The practice management processes, and concierge service enhance the overall results.
- Implement an effective marketing strategy and annual plan to drive optimal numbers.
This has been a short summary of a very in-depth subject. It is a game changer for many people and often difficult for them to get their heads around this shift in focus. To understand this in more depth have a look at the video training on this subject which dives into this on a deeper level Profit and Service Relationship