Bringing Corporate Culture in Medical Practice Management
Published on Nov 18, 2015
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Bringing Corporate Culture in Medical Practice Management
This could lead to 3R’s: “Recognition, Recommendation and Revenue”
“Management” is a process of dealing with or controlling things, processes, technology or people.
Just like any other business, we find success and failure stories in Medical Practice Management as well.
While working with several practices nationwide, we came across practices that are well recognized, well recommended and doing very well financially.
We call these practices “3R” or well recognized, well recommended, and financially stable institutions.
Photo by Kyota
Let’s analyze the reasons behind the success of “3R” practices. Uniformly, these practices adopted what we call, a “Corporate Culture”.
Corporate culture refers to the shared values, attitudes, standards, and beliefs that characterize members of an organization and define its nature.
Corporate culture is rooted in organization's goals, strategies, structure, and approaches to labor, customers, investors, and the greater community.
Let us describe some of these attributes and their relationship to “3R” (Recognition, Recommendation and Revenue).
Practice has a Mission Statement.
But Wait, What's Mission Statement anyway?
A practice's mission statement should represent core values and ideals of the founder’s vision for their practice. It should be a constant reminder to the practice's employees and clients (your patients) of why the practice exists.
A good mission statement is the tool by which the practice navigates, and by which patient-centric decisions should be made and measured.
Here is an example of a mission statement “It is our Mission and Our Pride to provide excellent quality primary healthcare to every individual, regardless of differences in cultural background or language”.
It is necessary to keep in mind a practice’s ultimate objective while defining the mission statement. These objectives could govern internal and external factors and can clearly define an actionable plan.
A well-defined mission statement leads to establishing core values. The core values are basic elements of how we go about our work. Let’s look at some of these elements.
A practice has a defined language and customs for interaction with their patients.
Standardization in language, customers and interactions lead towards replicable patient experiences.
It creates such a positive and motivational environment for patients. They feel well respected and enjoy coming back to his/her doctor.
This can be a possible referral business as a happy customer will bring good referrals.
A practice systematically records, analyzes and shares patient feedback internally.
Patient survey or feedback results into an indirect evaluation whether our processes/people are working as per the core values.
It truly brings out a feeling of “My Doctor” with pride.
A practice places greater emphasis on patients’ retention and recall for clinical management.
Photo by Christiana Care
