Reviewing your financials (i.e. your P&L Report) once a month is not enough!

While I’ve never been a small business owner, I’ve consulted for over 2,000 of them – helping owners and managers balance their profit & loss report, manage their inventory, and supervise their staff. And the main theme was almost always the same: There must be a dashboard to remain in control of everything.

It wasn’t until I began working in the healthcare field that I learned how few doctors had control over their practice. Business owners in the retail, financial, and logistics markets wanted to be kept up to date on EVERY facet of their business throughout the day, and any software product that couldn’t accomplish this became archaic. But doctors had become complacent with EMR software that couldn’t provide advance reporting let alone real-time updates. Imagine reading the news only once or twice a week, and trying to make sense of it all.

I followed up with a doctor in Leesburg, VA who explained that (like many doctors) he would have a month-end call with his accountant to understand the health of his practice. I then explained that with AtasKPI, he could look at end of day reports instead of waiting 4 weeks to find out if it was a good/bad month. “I admit that I never know what my growth looks like before meetings, but things are going well at my practice, and I trust my accountant,” he replied. I agreed that hiring the right people was paramount, but suggested that in taking a step back, and letting others be responsible for running things, isn’t it also good to have a simple tool that can let you double-check?

While it does make sense to assign key performance indicators (KPIs) to the appropriate staff, being surprised in meetings is just not an option. Putting the kids through college and retirement are 2 reasons to want to check your numbers every day, and ensure that every day is profitable. And if that’s not enough, Bob Aicher, ASAPS General Counsel can tell you all about employee theft and embezzlement that doctors have to deal with every year. Bob said it best at this year’s SESPRS Meeting: If you want to stop them from stealing from you, don’t give them the opportunity, and check your financials every day!

I invite you to learn more about how other doctors are staying in control using the Atlas Dashboard, by clicking here

Atlas works with our clients to maximize all areas of their practice in order to improve efficiency and boost profitability. We leverage your business data to accurately paint a picture of your business performance, with our real-time practice management dashboard.

Experience the dashboard first hand and schedule your demo today!


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2018-07-17T10:32:37-04:00July 17th, 2018|KPI Library, Uncategorized|