Want to know why some chiropractic offices thrive and others barely survive? Perhaps its not that you are a bad doctor or that your staff is not running efficiently.
A quote often heard at chiropractic conferences across the world is, “I want a million dollar practice, but have no idea as to why I am not getting there.” Perhaps the reason that you are not where you want to be in practice is that you are not correctly measuring the indicators that will bring you success in your practice.
This past September, Circle of Docs was given an all-access pass to Business Finishing School’s famed boot camp, “Business Mastery Intensive” in Dallas, Texas. Here we had an opportunity to mingle with the attendees and presenters and ask them about practice success and failure.
According to the co-founder of Business Finishing School, Rick Sapio – a critical aspect of business management and growth are “KPI’s” or Key Performance Indicators. KPI’s keep attention on the most critical things a business cares about at a given point in time.
[quote_center]“What gets measured gets improved.”[/quote_center]
Dr. Patrick Gentempo, a featured presenter at the Business Mastery Intensive had this to say, “One major contradiction in chiropractic today is that every DC that owns a practice is in business, yet they don’t do any business training. They will train on office procedures, but that is not the same thing. Foundational business principles are a must for any chiropractic committed to long-term success.”
Attendee Dr. Heather Rice says, “ Key Performance Indicators (KPIs) should be the vital navigation instruments used by doctors and staff to understand whether they are on a course to success or not. The right set of KPI’s will shine light on performance and highlight areas that need attention. Without the right KPI’s doctors are flying blind, a bit like a pilot without instruments.”
Circle of Docs got permission to video record Dr. Gentempo’s KPI presentation at the Business Mastery Intensive event. So, watch the video below and let us know what you think in the comments!