Is your practice a “goodwill” practice ?
Over a decade ago a young cricketer at the Australian Cricket Academy was approached to bat whilst the Australian team were practicing in the nets nearby. The team’s fast bowlers were asked to try and bowl out the 16 year old star of the future. With little success after a long and tiring session, the bowlers realised this teen cricketer had talent. The cricketer was Ricky Ponting, who surpassed Allan Border as the highest ever test run scorer for Australia.
Running a successful practice is no different in some ways to being an elite sportsperson; you need to not only work hard but also closely with us to ensure you and your practice remains at the top of the game.
Turn you practice into a ‘goodwill’ practice
Our world class Value Improvement Benchmarking Advice (‘viba’) process will help you retire financially secure by transitioning your business from ‘personal’ goodwill to ‘practice’ goodwill.
If you are struggling to grow your patient fees or improve your practice profitability, you can reduce your qualitative risks to become a ‘goodwill’ practice.
GPs Risk and Value Driver Assessment
By completing our GPs Risk and Value Driver Assessment you will better understand the characteristics of the practice of the future, achieve a shared vision for your practice and be able to benchmark your performance against top industry performers. We examine and score key qualitative value drivers ranging from your external environment, patients, to your practice succession plan, see an extract below.
General Practitioner Risk and Value Driver Assessment (extract)
|External environment:||Broad gender profile of patient base…|
|Performance:||Achieving key industry benchmark standards…|
|Growth:||Opportunities exist to introduce ‘fee for service’ patient services model|
|Appeal:||Period since last practice fit-out / refurbishment|
|Risk:||Reliance on principal Doctors|
|Competition:||Comparison to primary competitors (services, fees etc)|
|MIS:||Using clinical and practice management software to speed up diagnostics, improve diagnostic options and reduce medical errors|
|Doctors:||Sharing clinical services responsibilities and working hrs|
|Contracting Doctors and staff:||Rewarded for improved productivity, working on weekends|
|Succession and estate planning||Documented agreements|
Ricky Ponting has achieved success from focusing, committing and taking on advice from influential people to improve the way he plays the game of cricket.
Value Improvement Benchmarking Advice
We can provide you with our General Practitioners Risk and Value Driver Assessment so you can start developing your ‘game plan’ to achieve the same success.
Disclaimer: this information is of a general nature and should not be viewed as representing financial advice. Users of this information are encouraged to seek further advice if they are unclear as to the meaning of anything contained in this article.