This is the time when we all reflect on another calendar year in the books. But it's also the time of creating goals and projections for the next calendar year.
What do you hope your practice will look like in 2023?
For our purposes, we are going to consider four possible avenues - financial gain, added exposure, improved systems, or contributing to academia.
Financial Commitment
If you are committed to making 2023 the best year your practice has seen in terms of revenue, I'd encourage you to take a close look at your monthly profit and loss. Look at the profitability of each type of evaluation/service your practice is offering. Whether you're doing forensic evaluations, IMEs, seeing clinical patients, all of it should be tracked for profitability.
Quickbooks has a great tool for doing this with their classification feature. It enables you to segment different expenses and income related to certain aspects of your practice. For instance, if you want to track insurance revenue compared to private pay, or perhaps tracking different types of evaluations you offer. Whatever the case, having this segmentation done each month will give you a good indication of your practice's financial health and where your should be investing your energy to grow.
Added Exposure
In this day and age, it's important to have an online presence. The first thing anyone will do before they work with you is Google you.
Speaking of which, make it a habit to Google yourself regularly. It's always good to see what others are seeing and correct anything that shouldn't be there.
So, you want to make sure your profiles across all social media platforms are updated and uniform in their branding and messaging. If you are no longer accepting insurance, make sure all of your profiles are conveying that to avoid confusion for your potential clients. Sometimes it's helpful to have someone else take a look at this for you.
We call it The Mom Test. If your mom can't find you or understand what your are doing, then you didn't pass The Mom Test - time to get to work!
Improved Systems
Technology is advancing at an unprecedented rate. As the pandemic taught us, we need to be more resourceful and have contingency plans for our practices.
Having strong Standard Operating Procedures (SOPs) works to your advantage on many fronts. (1) It puts your employees at ease when the expectations of the job are clear and in writing; (2) It makes onboarding new hires MUCH easier with less time needed for training.
Scribe is an amazing tool for recording all of your procedures. This is our favorite tool out there right now. It takes screenshots of what you are doing as you go through each of your processes. Singlehandedly, it's our favorite discovery for 2022.
Regardless of what your goals are for 2023, we can all plan to improve. Even if it's a small improvement, it's one step closer to the larger overarching goal.
We are committed to helping more mental health professionals than ever before this year. Our services are expanding to make your practices more organized and profitable in as little as 30 days in most cases.
We'd love to hear more about what you have planned for 2023. Schedule a free Zoom call with our team today so we can help you get on track for 2023!