We all have our Achilles heel in our business, mine just happens to be feeling the need to satisfy every employee. I absolutely hate it when someone leaves the practice; I can’t help but take it personally. In my logical mind I know that I always do the best I can to help others but it’s not always enough. I’ll catch myself waking up at the crack of dawn with this on my mind or running through scenarios before going to bed. All the while I know that it’s impossible to make everyone happy, people are always going to leave, and life does go on but it doesn’t always make it any easier.
In 2015 I started my practice and at that time I barely realized that consulting was a “thing”. The only person that I knew of as a support was a local consultant and lobbyist that offered “support” to practices in regards to changes in laws, policies with the state’s Medicaid and Waiver programs. The cost of $200 was definitely an investment, and I paid it monthly regardless of whether I needed support from him or not. He would send out email updates and answer questions if any were to arise throughout the month. Do you think that’s a fair price and is it worth it? I’ll answer by saying the same thing I used to hear in my college days working in car sales. “A good deal is a state of mind.” For me, it was worth it because that peace-of-mind I had from having someone in my corner was what I needed to push on semi-confidently.
Have you found yourself in a position yet where you need the support of an HR professional but your budget is screaming NO? What about a marketing specialist but you can’t afford $1000 a month in fees and don’t know how to do it yourself? Maybe you’re trying to save money by doing your billing yourself but you’re stuck with a large amount of denied claims and no idea what to do with them? At Mindsight Behavioral Group we have a comprehensive group of experts that lead our own behavioral health group, that also believe other group practice owners should be able to get the answers they need, when they need it at a fee that’s affordable.
Call it the pregnancy cravings or whatever you wish but right now all I can think about is two things: good food and group practice! Let me ask you something. How confident is your practice? Not how confident are you, but if your practice was a living breathing thing, how confident would it be? Would it know what to do if hard times came? Could it sustain if there were major cash flow concerns? What if you’re billing was negatively impacted? I’d say the majority of practice owners, if they were being honest, would say it’s not all that confident.
Choosing a consultant almost feels like choosing a therapist. Before I reached out to my first consultant, it feels like I vetted them for over a year. Reading all their posts, understanding their perspective and making sure they were legit. The point I finally made the leap, completed that first lead capture form, I wasn’t even sure what I was looking for. At that time I was in a growing practice, everything was going well but I felt like I was missing that sense of community. As cheesy as it sounds, I felt lonely. Very lonely. At that time I didn’t know what my options were, even know what a Membership Community or Mastermind Group was! I was really able to see how I had dug my heels in, had my head in the sand and was really hell bent on figuring out my private practice thing. Seems crazy, right? Sounds crazy to me now.
A year ago I didn’t even know what a Virtual Assistant was. The pure thought of it was unfathomable to me. Now, I have a VA company and have never understood the true value until I’ve seen how much productive my practice is!
Practice owners come in all varieties; those that have a dream to go big, those that want to stay small with a practice that’s easily managed, and some see this private practice thing as a means to something else… like a Big Idea! Whatever your intention, looking at your business through a lens of “automation” can help you get where you want to be, with less stress, less work and less time!
So if you consider yourself to be someone that your systems are working, meaning your practice is running smoothing, effectively and efficiently while generating a profit, then listen in because I have a challenge for you!
Lately, I have been hearing many people say that the thought of looking at numbers in a way related to their practice causes absolute anxiety and disrupts their flow of life. During my experience working with other business owners I can 100% see this to be true. I see people do funny things just to avoid coming to terms with their financials. How about the “purchase and pray” method where you don’t even consult a financial document before making a large purchase. Some choose not to know how much their monthly expenses are for fear of that anticipated up-roaring flood of anxiety. Some even like to hand everything off to their bookkeeper or accountant and assume that those professionals will tell them in they’re in trouble. Please understand, if you’re guilty of any or all of these things I’m really not poking fun at you. In reality, I’ve done every single one of those myself! My relationship with numbers has not always been a good one, but I’m living proof that you can learn to make peace with your enemies [numbers] and possibly even learn to love them!
I used to think my big idea was running my practice but as my systems have become more automated, I find myself looking for bigger ideas. Sometimes I wonder if I just like to torture myself by starting new projects but then I realize that I’ve always been a creator, and I know that I would have nearly as much meaning in my life without the ability to alway be creating.
I don’t think anyone could possibly disagree that finding the right people can make or break a business. I mean think about it, people are unpredictable, sometimes selfish, and mostly look out for themselves. On the flip side, there are people that do exist that are loyal, committed and passionate in the same ways that you are. Finding the best qualities of yourself and replicating those in your top three employees, can not only help your business to scale but to sustain, and that’s what’s important!
I'm not sure if it's society, work/life balance, millennial mentality, or people that are just really bad at math, but why is it becoming more and more difficult to find employees that will buy into a pay-for-performance model? Last year I went to a conference hosted by Brett DiNovi who is very passionate about this model and uses it in his own company Brett Dinovi & Associates. I admired his premise and the fact that his turnover was less than 1%. At that time I was already implementing a P4P model, however he sparked some ideas in me to improve my level of incentivizing.
In case you’re wondering why in the world I’m referencing a bee, go back and read the blog on branding! When I tried to think of an icon or symbol that most symbolized me and my systems of beliefs, the bee was by far the most fitting. Not to mention bees have been on my mind a lot lately since my company, Mindsight Behavioral Group, has been working to identify our Queen Bee Role. Mike Michalowicz’s new Book Clockwork sparked this sense of exploration and my staff and I have been on a journey to find our QBR for the last 4 weeks. (We’re starting a bookclub if you’d like to join.) You may be wondering, WHY? Why write about a day in the life of Kasey? I recently asked an online community for talking topics for my recent podcast with John Clarke. There was an overwhelming request to know what a typical day of my life looks like, so here it goes!
So many of us are guilty of operating our business on the fly. Yes, the fly, not the bee. We make decisions based on what seems right in the moment. We make modifications to processes when things go haywire. What we don’t always do it keep our brand promise at the center of all things like we should.
After reading, studying and implementing Mike Michalowicz’s steps in his newest book, Clockwork, I’m here to tell you that living your brand promise will create a sense of purpose and alignment within your business. How do you do that? Keep reading.
It wasn't until I read the book, Clockwork, by Micheal Michalowicz, that I went back and re-evaluated the alignment of my group practice, Mindsight Behavioral Group. This has been the craziest week! On Monday, Clockwork arrived by mail. I finished the book at 9:30 am on Wednesday morning. Thirty minutes later sat in on a podcast with Gordon Brewer and Mike Michalowicz. Thursday I had a meeting with all of my administrative and support staff to re-evaluate our Brand Promise and Queen Bee Role.
I've always loved to read. As a kid I enjoyed fiction books, as an early adult I forgot what a book was, and now I love reading books on leadership, business, and entrepreneurship. As I sit here typing this blog, behind me stands a wall of shelving, full of books. I have everything from Tribe of Mentors, Originals, The Ideal Team Player, Top Secret to Twilight. If you were to look at my bookshelf, you would notice one thing right away; that's the twenty-five copies of Profit First directly in the center of the shelf.
Nearly a year ago I made a very difficult decision to invest in a mastermind group with Joe Sanok with Practice of the Practice. At this time I had a good practice, a lot of passion and a ton of purpose, but what I didn’t have was a community of like-minded supporters.
Fast forward eleven months... I was given such an amazing opportunity to come face to face with that group of supporters that I desperately needed eleven months back. That group of private practice owners all came together in Traverse City Michigan, at a little place called Slow Down School. This is where my view of life began to shift and my perspective on work/life balance changed.
If you're fortunate enough to invest in a consultant to help you set up your group in a scale-able, please do so! This can save you lots of time and believe it or not, money! Unfortunately, I learned my tips and tricks the hard way; through trial and error. I wouldn't wish that on many people. If you are new to the Group Practice business or if you're considering transitioning from a solo practice to a group practice, these ten tips are a MUST READ!
I have a question. Let's imagine you inherited this brilliant behavioral health group from the most innovative and strategic owner of your time. It's vibrant and exploding, full of progressive ideas and forward thinking participants. This group has grossed five million dollars consecutively for the last five years and is on track to do 6 million the year you acquired it. You are the new owner, so what do you expect YOUR business to do this year? 6 million dollars, right? Why not? That's what you were told it would do.
In case you haven't noticed, behavioral groups are popping up all over the US. Why, you ask? There are several reasons, many of which being low start-up costs, the overwhelming need for services, the appearance that they're easy to operate, the will to help others, or even financial gain. Most of these business owners are clinicians themselves, but in some situations, they are not. Statistics are lacking on the success vs. fail rates of said behavioral business, however, if you're wondering what makes a good company, or what makes one company prosper when so many others struggle, I think I have the answer.