• Doctors CFO

The Importance of Synergy for Continual Improvement in Your Medical or Dental Practice so 1+1=5.

Often times, practice owners have elaborate five-year or ten-year plans that they have methodically designed at the birth of their practice. Subjects like practice growth, specialization in the field, investments, and building a winning team are typically the driving forces behind these plans. However, from my experience, it may be a waste of time to spend hours and hours making exact plans by yourself without brainstorming with other practice owners, consultants, or family and friends.

Consider this question. Is it possible for one person to summon all the knowledge necessary to make an idea complete and mature?

It is better to bring 'seeds' or small 'plants' to a meeting between minds rather than bring a 'tree with fruit on it'. Pieces of a bigger idea will provide for better conversation and provoke more ideas from others that will be better than the 'whole' idea you had thought of in the first place.

Many years ago, while working for a software development company, I found myself bringing complete ideas to the management team. The CEO was from Italy and the COO from France. Both were highly skilled, but I found it hard to collaborate with them at the level that I wanted. In particular, I found the French COO difficult because he loved to argue everything. Fortunately, a coworker shared that they had training about working with the French and he said they like to argue because it makes the conversation more interesting. A little while later I called with an idea and the French COO starting arguing about it and I said, "Are you done arguing yet?" He replied, "Well it makes the conversation more interesting.", as if right on queue. After that, we started collaborating at a high level. I initially brought what I thought were complete ideas and after our discussion, the ideas transformed into something more than I was capable of doing on my own. It didn't take long for me to only bring partial ideas because I knew that by collaborating with the right person the idea would transform and turn to a place I would have never thought of. This is called synergy where the input of one plus another one is greater than two. We are calling that number five for impact reasons and thus the 1+1=5 in the title of this article.

In my next job, the boss wanted me to bring more complete ideas. I think that is an American way of thinking and my experience said it did not yield the same results as real collaboration. Simply, you don't know what you don't know. Ideas from one person piggyback and develop into new ones if you allow them. I shared my experience with my last employer and the French COO with my new boss. I don't think he agreed but in this case, I knew I was correct. I don't want to sound overly boastful, but I am a very creative and innovative person and the results from collaborating with the French COO were so amazing that I knew this surpassed what I was capable of.

As a practice owner, it is important that you are able to pivot and adapt to unforeseen events. One of your best employees may leave you, you may get sick or injured, a patient may try to claim malpractice on you. Your patients may demand warranties on outcomes. There will be so many changes with how insurance is delivered, the ever-increasing deductible, new medical innovations, new technologies, etc, that you cannot plan for. All of these examples would alter your five-year or ten-year plan. Healthcare coverage, in general, is always changing. You need to be able to be flexible to survive. So there are two techniques that you should incorporate to deal with this.

Technique one is the easiest. Generally, there are two or three obvious things that need to be done, so do them! Complete a few easy improvements every month and the practice will magically transform. A new sign here, new paint, reorganization of staff etc. Ideas that come to you and you say you seem to never have time to do them. If those ideas persist, you don't have time to not do them. Do them and you will see important improvements over time!

Technique two includes having people on or off staff to help you develop new products, services, and ideas. You should keep the group small say no more than five and perhaps less. These people need to have the business savvy and direct experience in what you are trying to change. You can start with an idea and have an open brainstorm session to see what comes of it. That brainstorm session may result in nothing and that is okay. What is does do is prepare and seed your subconscious for deep creativity. The idea will not come while you are working. It will come when you running, walking the dog, mowing the lawn, riding a bike, gardening, taking a shower, or any other activity that frees up your mind to think. When the idea comes, write it down, send yourself an email or leave yourself a voice mail. Then bring that idea back to the group for an examination. During examination allow the group to criticize your idea intensely, allow it to morph and change into the idea that it was meant to be. Then set a plan to implement that idea knowing that as you get more information from patients it will morph even more and that is what should happen.

Here are the bullet points on the two techniques.

Technique 1: Do it yourself

  • Pick 2-3 small things every month to accomplish. You could purchase new equipment or execute a marketing idea. Make small changes that will benefit the practice.

  • Small goals will fit under the larger and ultimate plan of having a successful practice.

Technique 2: Collaboration

  • Generally, better results come from this technique as long as you consult with others who are well-versed in your specialty.

  • Be flexible and open-minded when it comes to brainstorming.

To participate in this week's poll, please subscribe to our mailing list and follow us on Instagram to see the poll results "When Was The Last Time You Had a True Brainstorming Session?"

Prior Article Poll Results

Our last poll asked "When Was The Lat Time You Looked At Your Balance Sheet?". Based on the responses we received, 16.7% said Last Week", 33.3% said "Last Month" and 33.3% said "Last Year" and the remaining 16.7% said "Never".

The reason we are publishing these articles is so that your office can increase its success. We appreciate your feedback on how we can help you more and love it when you pass these articles along to other practice owners and office managers. If you have a question that you would like answers to in a blog post, please email it to info@drcfo.com. If you have not signed up for our blog, please do, so you can continue to receive these important insights and participate in our polls.

Developing a management report is not easy and Doctors CFO currently has a robust model for most practice types that is customized for our monthly and bi-monthly clients. If you have questions on how this model applies to your practice or you are interested in applying the Doctors CFO model in your practice, via one of our annual, bi-monthly or monthly assessments, please reach out to us as info@drcfo.com. Doctors CFO provides financial analysis and valuations for doctors and dentists in the United States. We also offer programs for new patient marketing, revenue and collection management, medical practice consultant, dental consultant, and practice analysis.

(c) 2019 Doctors CFO, All Rights Reserved.

#medical practice consultant # dental services group #medical consulting #how to start a private practice # starting a private practice #start a medical practice #medical billing outsourcing #medical consulting form # medical valuation # dental valuation #equipment simulation #doctors cfo # medical kpi # virtual practice cfo # mastermind group # healthcare consultant #medical cfo # badmouthing

private practice consulting management consulting private practice consulting for doctors and dentists new patient acquisition new patients managing medical staff managing dental staff helping managing staff increasing patient revenue profitable practice increase practice revenue practice revenue get more patients practice growth management reporting medical KPI healthcare ROI practice manager practice analysis medical cfo medical consulting healthcare consulting medical office management practice management medical staff front office clinic management top dental consultants top medical consultants salary planning extend knowledge business specialist what do you struggle with new patients practice valuation business valuation equipment amortization equipment ROI equipment planning how to make more money in a practice Do private practice doctors make more money? How much does a private practice make? high impact healthcare consulting nexus medical consulting new jersey medical consulting axiom medical consulting orchard medical consulting medical coding outsourcing employers dental services dental clinics chicago medical billing and coding jobs near me emergency dental services near me medical billing specialist salary emergency dental services dental clinics north free dental clinics free dental clinics near me counseling private practice business plan medical practice consultant medical consulting jobs ohsu dental clinics dental services group medical billing and coding salary per hour medical billing jobs near me aps medical billing remote medical billing jobs starting a private practice in counseling private practice therapist medical consulting medical billing specialist private practice therapy how to start a counseling private practice how to start a private practice starting a private practice kareo medical billing private practice counseling american medical billing association medical billing jobs how much does it cost to start a medical practice start a private practice medical billing resume peak dental services medical billing and coding certificate dental clinics how much do therapists make medical billing salary medical billing and coding jobs start a medical billing company private practices near me medical billing from home how to be a good therapist start a medical practice dental services near me medical billing and coding online courses cost medical billing and coding pay medical billing and coding job description medical billing and coding classes pacific dental services locations medical billing denial codes and reasons medical billing and coding from home medical billing jobs from home accredited medical billing and coding schools online with financial aid medical billing and coding salary by state dentures and dental services work from home medical billing how to be a therapist medical billing and coding jobs from home how to become a therapist medical billing outsourcing free dental services for adults medical billing coding salaries medical billing and coding programs medical billing and coding online courses free medical billing and coding schools near me medical billing and coding salary medical consulting firm top medical billing company medical billing software dental health services what is medical billing medical billing training top accredited online medical billing and coding schools dental clinics for low income families dental clinics near me accredited medical billing and coding schools local free dental clinics medical billing and coding classes near me epic medical billing meaningful use in healthcare medical billing services low cost dental clinics near me free dental services medical billing classes accredited medical billing and coding schools online medical billing advocate medical billing certification what is medical billing and coding free emergency dental services medical billing and coding school medical billing company medical billing company medical billing and coding schools medical billing companies meaningful use healthcare


  • White RSS Icon
  • White YouTube Icon
  • White Instagram Icon
  • White LinkedIn Icon
  • White Facebook Icon


611 Wilson Ave, Suite 7, Pocatello, ID 83201, USA

©2019 by Doctors CFO LLC, All Rights Reserved.