Is Your Practice Operating at Maximal Efficiency?
Efficiency, efficiency, efficiency... That’s the key to a successful business, especially in the current economic environment. Sure, your business can probably stay afloat despite the inefficiencies that exist in your current operations, but if you want to thrive and be even more successful, you’ll need your business to run at peak efficiency in every aspect. When we talk about efficiency, we’re talking mainly about processes and people. Efficiency of one without efficiency of the other equals inefficiency. You might employ the best people in the world, but if the processes they are performing are inefficient, the results will be suboptimal. Conversely, you might have the best processes possible, but if the people performing them are incompetent, the results too will be suboptimal. In most instances, it’s the processes that are the problem, not the people. Whether we’re talking about an outpatient physical therapy company or another retail business, profitability is directly proportional to efficiency. Often times it takes an outside, objective party to be able to identify the inefficiencies that have been occurring routinely day in and day out. Refinement of one simple process could produce an instant increase in revenue. Every business could use a fresh set of eyes to offer a new perspective. Couldn’t yours?