Running a successful private clinic requires more than medical expertise; it demands a strategic approach to operations, financials, and patient experience. Transitioning from the academic rigors of medical school to the multifaceted challenges of running a private practice can be a daunting leap for many healthcare professionals, but it doesn’t have to be.
In this blog, we gather perspectives on how to run a clinic successfully for those just starting out, bridging business aspects with approaches to patient care. We connect considerations around finances, expanding services, marketing to patient-centered care. Read on to learn more.
Before we delve deeper into the article, let's briefly define each payment model in the United States healthcare system and discuss how they may apply to your own medical practice.
Fee-for-service is a payment model in healthcare where providers are compensated based on the quantity of services they deliver. In this model, each service or procedure is billed separately, and the payment is made for each service rendered.
Value-based care (VBC) is a healthcare delivery model in which providers, including hospitals and physicians, are incentivized based on patient health outcomes. Under VBC, providers are incentivized to offer the best care at the lowest cost, with the goal of improving patient health and satisfaction while reducing overall healthcare expenses.
Medicaid is a joint federal and state program in the United States that provides health coverage to low-income individuals and families, including children, pregnant women, elderly adults, and people with disabilities.
Medicare provides coverage to specific groups, such as individuals aged 65 and older, regardless of income, as well as certain younger people with disabilities.
Running a medical practice extends beyond the day-to-day operations. In the following sections, we'll discuss several methods that can benefit your patients as well as your clinic's bottom line.
Let’s delve into some strategies that can help you run a successful medical practice, including making your medical clinic profitable.
Patient-centered care is not just a buzzword; it's a game-changer in the healthcare industry, and for good reason. Its definition is providing “care that is respectful of, and responsive to, individual patient preferences, needs and values". By adopting this approach, clinics not only address the medical aspects but also support their patients' emotional and psychological needs, fostering patient enablement and engagement.
For instance, a 2023 review found that tailoring care to individual patient needs and preferences enhances patient satisfaction and engagement. This can ultimately lead to better financial outcomes for hospitals. A policy brief in Health Affairs highlighted that patients who were more involved in their healthcare decisions had lower healthcare costs and experienced better outcomes.
Preventive care emphasizes disease prevention to enhance patient outcomes and minimize chronic illness costs. The adage "an ounce of prevention is worth a pound of cure" is particularly relevant in healthcare.
Preventive strategies include:
This promotes early detection and more effective, less invasive treatments. For instance, a study in the American Heart Association found that early identification of high blood pressure can lead to lifestyle adjustments and medication treatment plans that can slow the disease progression.
By integrating preventive care, clinics foster a healthier community and stand out in a competitive market.
Improving the patient experience is about creating a healthcare environment where patients feel genuinely valued and cared for, not just during their in-clinic visit but throughout the entire continuum of care, including pre-visit preparations and post-visit follow-ups.
Some of these strategies may involve an initial investment in establishing new processes, adopting technology, or spending. Yet the benefits to patient satisfaction can support the sustainability of a practice.
Here are a few ways to improve the patient experience:
Clinics that actively seek patient feedback can make informed decisions to enhance the quality of care and patient satisfaction. A 2018 study emphasizes that patient insights are crucial for the development of patient-centered services. By establishing a feedback loop, clinics demonstrate to patients that their experiences and opinions are highly valued, fostering a relationship of trust and openness.
In the digital era, a robust online presence is not just beneficial but essential for clinics looking to attract and retain patients. Here are some examples of how clinics can leverage digital marketing:
Now, let’s discuss building a strong healthcare team, from administrators to providers. Cohesive teams are imperative to a healthcare clinic's success and offer insights into incentivizing staff and embracing technology to improve workflows.
Hiring a cohesive team of providers and administrative staff is fundamental to the success of any healthcare clinic. Research indicates that a well-coordinated team can significantly enhance patient care and clinic efficiency. For instance, the Journal of Hospital Medicine published a review demonstrating that interdisciplinary teamwork in healthcare settings is associated with enhanced patient outcomes, higher nurse retention, and lower hospital costs.
A stable and experienced workforce ensures the consistent delivery of high-quality patient care and contributes to the clinic's overall efficiency and reputation. A study found that reducing employee turnover is critical, especially in the medical sphere, because frequent turnover can increase patient mishaps, reduce the quality of patient care, and cost organizations millions, among other issues.
Creating a system of incentives is a powerful way to motivate staff and promote a positive work environment. Research has shown that financial and non-financial incentives can increase job satisfaction and productivity. For example, in the same research, organizations found they could increase employee loyalty through meaningful incentives.
Technology has revolutionized the healthcare industry, from patient care to administrative tasks. Healthcare providers can now automate communications, use scheduling and reminder systems, and manage medical equipment, significantly streamlining their clinics' operations.
Automating communications within a healthcare clinic can significantly improve efficiency and patient satisfaction. By implementing systems that automatically handle appointment reminders, follow-ups, and even routine health tips, clinics can ensure consistent communication without placing additional burdens on staff. Here are some key points supported by research:
Telehealth has become an integral part of modern healthcare, offering a convenient and efficient way for patients to access medical services remotely. Some equipment can be useful when facilitating virtual consultations and remote patient monitoring. Essential telehealth equipment includes:
A 2022 study demonstrated that telehealth services can significantly reduce patient healthcare costs. By leveraging the right technology, healthcare providers can offer remote care that is both accessible and of high quality, which is particularly beneficial for patients in rural areas or those with mobility challenges.
Expanding the services offered by your clinic can significantly enhance patient satisfaction and clinic revenue. By offering new and specialized services, you can meet the diverse needs of your patient population and stay ahead in the competitive healthcare market. Read on to discover how to broaden your clinic's offerings to provide more comprehensive care.
Including cognitive healthcare services within a practice is an opportunity to reach many patient populations in need of these services. For example, with a growing population of elderly patients, primary care physicians (PCPs) are having to prepare to meet the health needs of this demographic.
A survey found that only 47% of primary care providers regularly test patients 65 years and older for cognitive impairment. These results suggest that there's a lack of awareness among healthcare providers about the benefits of regularly scheduled cognitive assessment, as well as the detriments that can arise without a care plan.
Cognitive assessments can be useful tools especially in aiding diagnoses and managing conditions such as:
For instance, early detection of MCI through cognitive testing can lead to timely interventions that may slow the progression to dementia, as highlighted by recommendations published in the Alzheimer's & Dementia Journal.
Furthermore, standardized computerized assessments, like those provided by Creyos, allow PCPs to screen for various cognitive, psychological, and behavioral health concerns efficiently. This comprehensive approach ensures that patients receive appropriate care and referrals.
Creyos offers an all-in-one platform for these standardized assessments, enabling primary care providers to provide more comprehensive patient screening. The platform's ease of use and integration into existing workflows make it an attractive option for practices looking to enhance their service offerings and improve patient outcomes.
Mental health conditions can be comorbid with a variety of physical and cognitive conditions. So incorporating standardized mental health evaluations into a clinic's service offerings can significantly improve patient care by offering a more whole-person approach.
Behavioral and mental health questionnaires and screeners provide a structured way to identify various psychological conditions early, crucial for timely and effective treatment.
For example, cognitive impairment associated with depression has been detected using assessments designed to measure specific areas of cognition:
The Creyos library of mental and behavioral questionnaires can serve as a valuable resource for screening mental health concerns. Here are a few examples available in the platform:
These assessments are designed to be comprehensive and user-friendly, allowing clinicians to identify potential psychological issues quickly. By utilizing the Creyos Health platform, clinics can ensure that patients receive the appropriate care and referrals, supported by research emphasizing the importance of early detection and intervention in mental health.
Factors influencing a positive patient experience include organized pre-visit planning, effective communication strategies, and personalized patient care. These aspects contribute to an overall positive experience for the patient.