how much is your time worth?
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How Much is your time worth?. Cindy Pezza, PMAC . Let’s Examine the Facts. . . . You are a Physician. This is why you spent so many years in school Invested so much in your education Studied hard, lost sleep, and learned to live on Ramen noodles and Spaghetti-Os. . . - PowerPoint PPT PresentationTRANSCRIPT
HOW MUCH IS YOUR TIME WORTH?
Cindy Pezza, PMAC
Let’s Examine the Facts. . .
You are a Physician This is why you spent so many years in
school
Invested so much in your education
Studied hard, lost sleep, and learned to live on Ramen noodles and Spaghetti-Os. . .
Sacrificed to become a doctor of podiatric medicine!
The Irony is. . .
Many DPMs undervalue their worth and their true commitment to providing outstanding care and improving the quality of life for their patients.
Do you Ever Stop and Think ?
About the Impact you Make On the lives of your patients and their
families On the community and to the field of
medicine How many trips to Disney World have you
made more enjoyable for your patients
Why Would you Undervalue Yourself or Your Profession?
Surgical residency programs of up to 4 years that allow podiatrists the best training
possible . . . .You have learned how to treat patients
from HEAD TO TOE (AND EVERYTHING IN BETWEEN)
Other medical professionals cannot say the same!
Even if . . . You began your post residency career with
an inflated ego. . . Something happened to change that. . And
you suddenly found yourself turning into the janitor, “Mr./Ms./Dr. Fix-it”, the “IT guy/gal,” and the list goes on. . .
On the Contrary:No One is Ever Above
Changing a light bulb Replacing a roll of TP Sending a thank you card to a well
deserving team member Lending a hand when needed Troubleshooting computer issues if that is
an interest/strength (control, alt, delete) Diffusing situations between angry
patients who are abusing your staff
If you Find Yourself: Not just lending a hand, but hand holding Constantly repeating yourself or feeling as if
your children listen closer than your staff
Becoming routinely frustrated in a way that affects the quality of patient care
Losing patients and revenue because you are running behind and not maximizing visits
While others are . . . Less Busy
Or, as my Grandfather would say. . .
“Busy holding up a wall”
Perhaps you Need to Discover
The value of your time How to make the best use of it How to delegate menial or less skilled tasks
and procedures to qualified team members How to manage without micromanaging How to maintain control of your financial
blueprint AND MOST IMPORTANTLY . . . .
How to say “NO” (THE MOST DIFFICULT)
Please answer Yes or No
Question 1. Do you spend time evaluating
“reason for visit” or commonly find yourself weeding through a garden of stories until you get
the information you need
Question 2. . . Do you take or have to retake
your own X-rays, or explain time and time again to your staff, what you are trying to
see
Question 3. . . Do you cast for orthotics, take
impressions, cast or scan for custom orthotics or custom
diabetic inserts
Question 4. . . Do you dispense your own DME items
(pre-fabricated as well as custom), spend time reviewing instructions for use, signing patient receipts, handling
Medicare required paperwork
Question 5. . . Do you spend time measuring your patients’ feet, selecting diabetic shoes and arguing with Mrs. Smith as to why
her 11 EEE doesn’t belong in a little dainty little shoe
Question 6 (follow ups) Upon a second or third visit, are you
fumbling through pages of a chart (outside the treatment room door), or quickly trying to read your electronic
records (while the patient stares at the back of your head)
Question 7 . . . Are you constantly going in and out of
the treatment room, looking for supplies, equipment or to obtain lab or test results that were not placed in the
chart or scanned electronically
Missed Appointments Do you have a “no show” policy in your
practice? Are patients being reminded of their
appointments via phone call or through an automated system?
Are patients called the same day if they missed their scheduled appointment?
Do you allow this to happen over and over, or do you do a 3 strikes, YOU’RE
OUT!
Missed Appointments are Expensive
If a new patient misses their appointment and a 30 minute block of time was held (with or without double
booking), how much money did they cost you/your practice?
Justification I have heard staff say . . .
“Sometimes we are happy when there are no shows. We usually need
that time to catch up and it allows some time to breathe.”
Or, the doctor will say. . “What’s one or two no shows? Does it really
make a difference?
Ummmmmm. YES! If you know your “Patient Visit
Value” or PVV (the total $$$ collected divided by the total number of encounters for a
set period of time), you understand the importance of
limiting no shows.
I’m No Mathematician If the average PVV is $90 (then
take 2 missed appointments a day = $180 x 5 days a week= $900 x 50 weeks (you need a
vacation, don’t you?) That is $45,000 a year!
A pretty impressive chunk of change!
You Could be Driving a Nicer Car !
So, Limit your No Shows! Have policies in place without calling
them policies (no one likes policies) Make sure patients are reminded of
appointment times and dates. Call your no shows at the end of every
day. Reschedule New Patients once, twice if
you are feeling nice, and then do not schedule any further appointments.
Train your patients to respect your time.
Compassion vs. Detriment Are you an overly compassionate
doctor? Do you allow your staff to “write off”
copays or balances when a patient tells a sad story?
Stop Giving Your Practice Away!
Look at your EOBs and find out how much you are being reimbursed (or not) on common codes and procedures. . .
You may be surprised at how much damage is being done by not complying with insurance contracts
Patient responsibility means exactly that!
Back to the Original Question
How much is your time worth?
You decide. . .
Learn the Art of Delegation Take the time to initially train and
educate your team Continue to educate and train as time
goes on Pay attention to possible ways to
improve efficiency through increased delegation or re-delegation
Trust in your competent team to provide superior care to your patients (without overstepping boundaries).
Take Pride in your Worth You are an expert in foot and ankle care.
Patients come to you from far and wide in search of answers that not even WebMD could fix!
Don’t be afraid to collect what is owed to you
Train staff to handle financial matters compassionately but firmly
Your team should respect your position and be highly supportive of your worth
Your TEAM should Understand
The years of education and training involved in becoming a DPM
Why you entered the field (even if you have to make up an interesting story. . . )
Your specific scope of practice (as it differs from state to state)
The Podiatry school you attended and where you performed your residency
How diligently you have worked to build a practice
WHY? Because they may not know (no matter
how long they have worked with you) Because you should be proud of your
accomplishments And, more importantly. . . .
BECAUSE YOUR PATIENTS ASK ALL THE TIME!
“Is a podiatrist a real doctor?”
On Monday Morning Schedule a time to tell your TEAM the
story of how you became a podiatrist. Start making notes of things you do that
could be delegated to others with some effort and training (and some that could be delegated right away)
Make an effort to become increasingly mindful of the value of your time (not just financially, but because of what you do for your patients every day to improve their quality of life)
Thank you for Your TimePlease feel free to contact me with your ideas and questions [email protected]