Scaling any business can be hard, but when it comes to the medical industry, any difficulty is not just a potential threat to your business, but to the health of your patients. Here, we’re going to look at some of the unique challenges faced by private clinics and practices as they grow, and what you can do to prepare for them as best as possible.
Ensure you have a great team by your side
Do not underestimate the importance of a great team when it comes to growing your practice. You need to ensure that your employees are passionate about their work and as being part of something that they’re willing to contribute to growth. When you’re hiring any new members of the team, be sure to focus on the culture of the practice you want to build, on top of the skills you require them to have.
Systematize what you can
While you want team members of the team who are experts in what they do, you don’t want that expertise locked in your brain. Systematising your private practice is about taking the best knowledge, processes, and methods, and turning them into shared knowledge so that you can easily teach it to new members of the team, as well.
Work with those who can help you manage growth
As you scale your business, running it is going to get more complex, as you’re also growing your risks, compliance requirements, as well as the equipment and assets that you have to manage. As such, working with those who can help you more easily manage your increased scope and scale, such as a managed equipment service provider, can lift a lot of the burden off your shoulders. Building an internal management team can help with this, as well, but for those looking to grow quickly, outsourcing is often the easiest way to quickly get the expertise you need.
Bring your existing patients with you
How you scale your practice is very likely to affect the way that you interact with your patients. It might be that you change how you handle appointments from now on, or you may even be switching your location. Keeping your existing patients informed, and giving them the information and assistance they need in following you is vital. If you move locations on a patient without telling them, it can be very distressing, and very likely to make them consider a new provider.
Manage your costs well
Any scaling operation is going to require that you spend money. There’s no avoiding it, you can’t grow your business if you’re not willing to put money into it. However, cost containment must be made a priority to save you from spending money where you shouldn’t, otherwise, you can easily run out of the capital necessary for completing the scaling process.
As is the case with scaling a business of any kind, time must be taken to prepare, to ensure that you’re able to handle the additional scope and scale effectively. You don’t get a lot of opportunities to take your business to the next level, so don’t rush it.
