The 4 Components of a Successful Practice

The four components of a successful practice are:


Part 1 – People

It is people that will take you to places you have never been before or bring you down.  You cannot do everything so you have to depend on people to take responsibility for the job they were hired to do and more than that, help you move ahead one step at a time.

Sometimes, the hard part is facing the truth about those who work for you.  Too many owners and managers run the business from the heart rather than what is best for the business and so many do not really know what they are really managing or how to manage. 

Here are some examples:

  • The A/R is growing and the revenue is shrinking.  Questions about the accounts are being answered by someone who doesn’t have the answers and listened to by someone who doesn’t know what the answers should be.
  • Denials related to data entry: no referral or authorization in place, benefits not being checked before first visit are consistent day to day and are not improving – there are no processes to follow.
  • New systems are being implemented but not being maximized.  Manual systems continue costing more time and money.     
  • Therapists are not billing correctly – not well schooled on use of CPT or ICD-10 coding.
  • Therapist documentation not supporting what is billed – unaware of insurance requirements and compliance guidelines.

People don’t change on their own.  They change because there is a force incentivizing and motivating them to want to be the best of the best.  They need a strong leader who cares about where they are going as much as where the company is going.  They need to build a strong team.  A leader leads a team with goals and clear objectives.  They provide standards of performance and exceptional communication always focusing on moving forward.

A leader knows when a team member is not working out and is strong enough to let the person go and not continue to help them fail.  Build your team by helping them find resources for learning and training.

At Diane McCutcheon, Business Management Consulting Services and Account Matters billing services we offer front desk, billing and A/R training for staff and management training through our Administrative Power Center.  It will be a great first step for everyone.

​Diane McCutcheon, President
​DM Business Management Consulting Services, Inc.
Account Matters – Billing & Collection Services
4 Charlesview Road, Suite 4
Hopedale, MA 01747
P: 508-422-0231  F:  508-422-0234