5 Positions Your 7-Figure Practice Needs

March 30, 2022

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It’s time to own your CEO role. Part of owning that role is having an engaged team of experts to support your practice’s workload.

One of the biggest mistakes I see private practice owners make is not changing their business model and team structure as their practice grows. Keeping the same responsibilities on your plate despite your practice getting busier, your revenue growing and the practice becoming more complex to manage isn’t good. 

Deciding to keep doing the same things despite being overloaded only leads to burn out and resentment! And we all know you didn’t start your own practice for it to take over your life, demanding your days, nights, weekends, and more!

It’s time to own your CEO role and build the team you need to support the workload of your growing practice.

This growth requires your mindset and your responsibilities to change. You can no longer have the same solo-practitioner attitude. All it leads to is keeping you stressed, working too many hours. You’ll lose money and eventually you’ll resent your business.

You deserve better. Your practice deserves better.

When you have a healthy and thriving 7-figure practice, there are distinct positions you need with quality and skilled team members in order for you to own your CEO role. So you can have a practice that will allow you to have more time as the practice owner, make more money and allow for your practice to flourish without everything being done by you. 

Here are the 5 positions you need:

  1. Admin Team – This team will help with the CEO energy wasters tasks such as scheduling, obtaining pre-authorizations, coordinating referrals. .
  2. Billing Team (or a reputable billing company) – Hiring someone to take care of your billing alleviates you from having to deal with all the ins and outs of insurance companies and their ever changing policy and procedures.
  3. Practice/Office Manager – A practice/officer manager will allow you to have the freedom you need to take time off and to stop wearing all the managerial hats you wear.
  4. Assistant for you as the CEO – THIS IS A GAME CHANGER!! Having an assistant will allow you to delegate in the weeds personal, business or clinical mundane tasks so you can focus on higher-level, revenue generating tasks.
  5. Clinical Lead – Your clinical lead will help keep your clinical team on track. They can support moral, help the clinical side of the practice and make sure clinical workflows are running smoothly.

Keep in mind when hiring each position you need to have a growth plan. For example, your practice manager role will grow into a COO role as your operations expand. Your Clinical Lead will move toward a Clinical Director as you hire more clinicians and grow your clinical team.  

You need a team of experts by your side. A team you can trust and will have buy-in for your vision and mission of your practice. Building your “ride or die” dream team doesn’t happen overnight. It takes intention and strategy to set you and your practice up for success. 

If you need more help, see how you can work with me here.

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