Category: Reporting

6 Simple Reception Mistakes That Hurt Your Private Practice

When running a private practice there are countless business processes that you can measure, tweak and manage in order to improve your productivity and bottom line. Most private practice owners start this at the advertising/marketing level, ensuring that they have incoming business. And most private practice owners also … stop there, too.   Reception is the first main point of contact for clients The reality is, once you have new enquiries and potential clients coming to your practice, there is a whole other side of…

What Private Practice Owners Need to Know About Cash Flow

So, you have just completed your cash flow review and you’re wondering what to do next. First, we suggest you avoid the temptation to fix yourself a strong drink (although we can also understand that you might well feel an overwhelming urge to do so). We are going to briefly explore here what to do with your cash flow once you have completed it. But before we work out how to use it, we should discuss exactly what a cash flow statement is and how…

How to Create Measurable Goals for Your Allied Health Practice

Creating measurable goals for any business is a fundamental component of building for success.  Of course, we all know this by now because not a single day passes without seeing something about goal setting on LinkedIn, Instagram, Facebook or any number of other social media platforms. There are some goal categories that most people would see as universally applied to all business.  For example, a goal relating to profit or a goal that relates to debt to equity ratios.  However, in an allied health business…

How Well Do You Know Your Clients? Take the Quiz to Test Your Knowledge!

Like in any business, knowing your clients/customers well is number one in a successful private practice. When you know your clients, you know where to find them, how to service them and how to continue communicating with them. What does it mean to know your clients, you ask? It means knowing who your clients are, what they like (and dislike), where they are and how they behave. When put this way, it can sound almost intrusive to know this much about your clients. But in…

How to Set the Right Fees for Your Private Practice (Calculator)

Setting the right fees for your private practice can feel like a difficult exercise for health practitioners. There is such a huge disparity between the value of the work you provide and the the value perceived by the general population. Even more complex, many private practice owners find themselves in an ethical dilemma where they feel obligated to make their services as affordable and accessible as possible to everyone, while still aspiring to live a comfortable lifestyle. Additionally, it always seems that the people that…

Client Retention Rate in Private Practice: What is It and How Do You Measure It?

As a private practice owner, you probably often hear about the client retention rate. So you probably already know how important it is to the success of your business. But do you know what it is? And do you know how to measure it? If your answer to either or both of these questions is no, it’s okay. Your secret is safe with us. In fact, we’ve come across a lot of healthcare business clients who didn’t know how to measure client retention rates or…

How to Improve Client Attendance in Your Private Practice

A client’s session attendance is one of the key metrics to measure for a successful private practice. I don’t have to tell you just how frustrating it is to have a client cancel last minute or simply no-show, leaving an unexpected gap of non-billable time in your schedule. Not only that, client attendance has a huge impact on your potential revenue, client care and even your confidence as a clinician. Related: 7 key metrics for a successful private practice   Why is it important to improve client…

The Most Critical Measures for a Successful Private Practice

In our experience, one of the most common aspects that private practice owners struggle with is switching from their clinical, altruistic side of the personality, to putting on the business hat. It’s no surprise, considering you’ve just spent 8+ hours helping clients get through their physical and/or emotional troubles. And especially for psychologists, it takes a lot of effort and practice to snap out of the deep emotional discussions they shared with clients to start thinking about their finances. But in reality, private practices are…

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