Randy Torban and Izhak Musli of AtlasKPI were recently interviewed by Nick Dumitru, President of Think Basis Inc., on his Practice Perfect Podcast.
Nick, who has been consulting for medical practices for over 20 years shared an analogy where he likens the need for a dashboard to manage a medical practice, to the need of a dashboard in a car.
“The thing that makes you the most money I think is Operations. But it’s boring.
But this boring topic is probably one of the most important things that you can have in your practice. Something that is going to be the difference between success and failure for a lot of doctors. And what is going to make you money for years to come.
I’m saying that it’s boring in the sense that it’s not sexy. When a doctor engages a marketing company or a consultant, they’ll come in and they’ll touch on all the sexy stuff.
Let’s use the analogy of a car. If a practice was a car, marketing touches on the engine, the horsepower, the wheels, and the paint job – all of that stuff. You’ve got your website that’s pretty, it lists all of the services, and it’s very responsive. But all of these things are absolutely irrelevant if your check engine light is on and you don’t know it, and then your engine blows. You need a way to quickly gauge the health of your practice.
A doctor wouldn’t think twice about getting in their car and driving if their speedometer or gas gauge was broken. But they will run their multi-million dollar practice flying blind, without any real dashboard, not knowing if there’s a problem, and possibly relying on people that may or may not care about the business. And I’ve seen this over and over again where their dashboard is not functioning – because most times it’s just plain non-existent.”
Listen to the Full Podcast:
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