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The 5 Ways Doctors Waste Money In Private Practices.

  1. Administration

  2. Collections / Finance

  3. Insurance

  4. Scheduling

  5. Technology

The 1 Way To Make Money in Your Practice

  1. Outsource The Above 5 Money Wasters

It is called the all these moving parts become more of a concern than treating the patient sitting in the waiting room while the medical staff is whirling around the office like the fire alarm just went off.

The Systems Approach was conceived by well known author and business guru Peter Drucker. Drucker's emphasis which became know as a systems approach was mainly responsible for the orderly streamlining of originally a manufacturing process for US Steel back in the 1930's. That approach became the gold standard for decades in the manufacturing and high volume industries tasked with repetitive motions done by people day in and day out in many industries. It created a tremendous advantage in terms of productivity and translated into profits for companies in the United States and then the rest of the industrialized world.

Today in high volume manufacturing the system is now known as robotics. Giant computerized machines do everything from welding auto part joins together to packing and stacking massive containers on to trucks to haul all over the highways 24/7/365...The stark contrast in the system is as far as east is to west.

Doctors offices have a big problem in addressing this issue and they don't know how to correct is like a hotel having the key holders behind the clerk to give to guests who check in and they get an actual key when other more modern hotels are not even having their guests go to the desk because they were advised of their room number by text and can use their credit card as the actual key...again, as far as east is to west.

The medical industry is choking on its own internal inefficiencies and unwillingness to change is sucking money out of their collective pockets...just adding people will not solve the problem either. In fact, it will make it worse and more bloated. Who in this space is going to be the next Uber or AirBnB?...That is yet to be seen but when it does, I am sure the specter of outsourcing all of the internal administrative activities will be the first to be addressed by some smart disruptor that is sorely needed in this top heavy and slow moving culture.

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