I love history. Especially when it comes to sports and world history. History teaches us what worked and what didn’t. If we were to travel back to 1997, Jerry Maguire was ruling the movie theater box offices, and the Green Bay Packers were soaking up the glory of a recent Super Bowl victory. Meanwhile, the now iPhone giant Apple was facing dire straits—mockable technology, a dwindling market share, and financial woes that seemed insurmountable. This
One of the best pieces of advice I ever received about owning a practice or delivering healthcare is: “When you try to be everything to everyone, you accomplish being nothing to anyone.” — Bonnie Gillespie But how can this be in healthcare? Don’t we need to serve as many people as we can? Maybe, but in my experience we are far better off as providers doing more for a reasonable amount of patients rather than
Last fall our family took a trip to explore Costa Rica for a week while the kids were out of school for fall break. For part of the trip, we stayed and hiked in an amazing jungle near a river area on the Caribbean side, Tortuguero. There we were introduced to howling monkeys in the morning to wake us up and the large Bullet Ants that were all over the paths near our mini cabins.
Business Bankruptcies just hit their highest rate of default since 2009. Competition is getting sharper. Corporate practices and DSOs are getting bigger and smarter. Patients are getting more informed (or misinformed) by online research and leaving more negative online reviews. Inflation just keeps rising! While insurance keeps paying less. And you are trying to run a profitable practice amongst all of this turmoil. But I have news, you don’t have to participate in all of
If you could sum up the big idea of why you started (or bought) your practice in the first place, what would it be?Said another way, what is your PURPOSE? It’s not seeing patients or doing your favorite procedure. It can’t be those things, because you are in the people business. Your purpose is bigger than that. It might be community impact, quality of life, or leading a team. For many practice owners I meet