Why you Need Objectives when Launching a Private Practice
New clinicians launching their first private practice have a lot of things to think about. Most commonly, clinicians are worried about where they’re going to get referrals, how to decorate their office, and whether or not they have enough money to support their family or lifestyle throughout their practice launch. After all, allowing you to support your family and lifestyle is what most private practices are all about.
When launching the private practice, one of the things that could help ensure your success is having concrete, realistic goals. These goals provide an objective way of measuring your success, much like a therapeutic treatment plan. By giving you realistic goals for your first year in practice, these objectives become your measuring stick for success. This gives you a clear measure of your private practice success and the efficacy of your developing marketing process.
How to Write Objectives for Your Private Practice.
There are three main steps to developing meaningful, measurable objectives, so you can track the success of new your private practice. If you’ve ever heard of SMART assessment, the three steps to develop effective practice objectives follow these guidelines. SMART is an acronym that stands for Specific, Measurable, Actionable, Relevant, and Timely. We recommend developing SMART objectives for your new private practice using the steps that follow:
First, objectives should be specific and measurable. For instance, an objective shouldn’t say have a thriving private practice in the first year. Such objectives are too vague, and you won’t be able to measure the results. Instead, a good objective will be more concrete. Something like, after six months, I should have 20 private practice patients per week. Or, I should have five reliable referral sources that send patients to my clinic within the first year.
Second, review these objectives to ensure they are realistic – actionable, relevant, and timely. That means you’ll need to consider each objective free from emotion with an eye toward enhancing your business. You’re going to need some time to consider whether or not each of your objectives are:
- Actionable – something attainable that you can complete within a specific time frame.
- Relevant – the objectives should be necessary and based on an urgent need.
- Timely – because you’ve chosen actionable, relevant objectives that are necessary for your practice’s success, you need to set a time limit – usually six months or a year.
Third, once you have several “SMART” objectives, run them past other private practice providers. Ask what they think of your goals and encourage them to be specific with their feedback. Someone who is a little more experienced can help you hone in on SMART goals for your practice. In addition to asking them to look at your objectives, make sure you ask them what else you should include. You may not have thought of all the factors that ensure the success of a new private practice, and working with your peers can help.
Let’s Get Started.
Getting objectives in place to cover your first year will help you stay focused on things that really matter like the sustainability and financial success of your practice. After all, without financial success, you can’t go on providing services for your patience. Having objectives in place will guide your decisions and help you to measure the effectiveness of your marketing campaigns, referral networks, and the growth of your practice. They don’t have to be overly complicated, but they do need to be realistic. The GetTherapy.com team is here to help. We are professionals in private practice ourselves, and we can help you to create objectives to ensure the success of your private practice. Contact our team to find out more or sign up for some of our services to help you launch your private practice.