A deep analysis of a doctor’s practice business procedures and value on the market is where we begin. The client will first engage us for an In-depth Business Analysis. This analysis includes as many visits as necessary to the practice to collect data and assess the situation first-hand. The product of this analysis is a written document in booklet form that discusses in great detail each and every business aspect of the practice including effectiveness against potential in production, collections, and marketing. Also included is a full appraisal of the value of the practice in its present state, and an assessment of the doctor’s personal retirement planning, if appropriate. The final section includes recommendations for the owner to improve his business operations where advisable and to raise the overall value of the practice. These recommendations will be critical in the strategic planning phase.
II. Strategic Planning
From this analysis we are able to determine the best courses of action to pursue. We at Headwaters, do not agree with a one size fits all practice solution, thus we custom tailor many options depending on the direction that the doctor wants to take their practice. The solutions will be discussed during our “practice solutions” meeting where the physician or dentist will determine where they want their own practice to excel and will budget their time and effort accordingly. This same time budget will be used in the implementation phase of the complete consulting process.
This is the step that most consulting companies miss. They will leave you with nebulous and inapplicable ideas and will not walk through the process with you. At Headwaters, our custom tailored program is designed by the doctor and implemented by our talented professionals working with the doctor and his/her staff. In essence, Headwaters Practice Consultants becomes a true partner to your office through the year long program of implementing the ideas that will help build the practice of your dreams. Whether it is bringing more patients into the office, determining financial arrangements, building a high quality team, or transitioning your practice, we can implement the change.
Consulting is not the process of determining what is wrong, what the solution is, or even the implementation of a change. True medical or dental practice consulting includes all of those steps, but also manages the change over time. This long-term care is the exact type of care that you give to your patients. Headwaters Practice Consultants will be able to be this consultant to a practice as we have the mature relationships, expertise, drive, and partners who will be able to insure the doctor of the realization of the practice’s goals and growth.