How can you increase positive cash flow for your practice?
"The great thing about new practices is that they can grow very fast. It is not unusual to grow 100% or more in revenue from year one to year two."
The excerpt, Opening Practical: An Overview of Practice Growth, from Dr. Neil Gailmard's latest book, provides insight into tactical things you can apply right away, to positively impact your practice's cash flow, including:
- Hire more staff and train them to be the best. Make legendary customer service the core of your office culture. Let the patient win.
- Don’t always wait for the perfect sign to make a change, like “As soon as we get busier, I’ll move to a nicer office.” Moving to a nicer office could make you become busier. You have to take some risks in business.
- Develop your priority list and reinvest money in your practice. Only you can decide how best to do that. You are the CEO. Borrow or lease as needed, but do so safely so you’re not overextended.
Looking for more? Fill out the form on the right to read the full excerpt now.