” I don’t look at the numbers, I just make sure our team focuses on patient care, treat my people well, and the rest will look after itself”.
I remember when I used to run my practice like that.
The years were 2010-2013.
Our practice was growing, in our region of Redcliffe there were only 4 physio clinics, not only did I have multiple good quality applicants every time I advertised, but I received about 5-6 good physio resumes a year too asking for work!
Google Ads hadn’t taken off, I was a reasonably “early adopter” with a good, website, and Facebook was all about what you had for breakfast when you went out (ie businesses hadn’t found it yet).
Up until 2015 my business experienced 12 years of year on year growth. More revenue and profit every single year.
But this was in spite of me, not because of me.
Then in 2015 my business went backwards.
Why?
In a team of 8, 6 of our team left that year.
Clinician turnover affects your business, culture, patients, revenue and profit in ways you CANNOT predict unless you have experienced it en masse.
Lose 1 team member? No worries (unless you are rural).
2? Starting to get tough.
3? Panic.
4+? May as well call it PTSD.
I remember the year it happened to me.
Clinic owners I coach definitely remember it happening to them – and many are still recovering.
Many clinic owners who gravitate towards working with me have had it happen to them. And the worse the loss, the more they want help. And I love helping them.
So back to my 75% team turnover in one year.
My revenue and profit started to go backwards.
And this made me go deep into the numbers – as I was drowning.
I didn’t want to go broke.
So I started to learn what numbers to track.
To start with I made the mistake of tracking everything.
Then I learned what it was most valuable to track, and I make small refinements to this day.
So let’s fast forward to 2020.
There are now 16 physio clinics in my region of 50 000 people (soon to be 17).
Competition is greater than ever.
Good physio employees are harder to find than ever.
It is a completely different economic climate we are in compared with when I last ran a physio clinic without looking deep into my numbers.
So a message for you:
If your practice is pumping with year on year growth:
Neglect the numbers for any reason you give yourself the justification for
But listen to this.
You will have your loss at some stage.
A Government rule will change which affects your clinic.
A member of your family will get sick, taking your eye off your clinic.
Physios on your team will leave (hopefully one at a time).
And physio clinics will open all around you.
When these things happen, I suggest you learn to run a business by the numbers.
