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Get your medical practice ready for 2022 – Part 3: Set up goals for the New Year

Implement SMART goals, identify challenges, and run reports to track your progress throughout the year to get your practice ready to succeed.

As you make personal New Year’s resolutions, it’s the perfect time to set new goals for your practice as well. Setting effective goals helps us be mindful of the changes needed to progress forward.

If you have clear objectives, it will be easier to identify and implement effective strategies.

In this blog, you will learn to identify reports to set goals for 2022, implement new reporting routines, and gather ideas to assist in creating a plan with your Client Success Consultant/Advisor to increase revenue and optimize your practice.

Before setting your goals, it is important you remember that every one of them needs to follow the SMART technique. That means that each of your goals need to be: Specific, Measurable, Attainable, Relevant and Time Based.

Most goals failed due to a lack of clarity. That´s why it is important to based your 2022 goal setting on this technique. Setting SMART goals will help you create clear, attainable, and meaningful goals, and develop the motivation, action plans, and support needed to achieve them.

Identify challenges

Ask yourself what are some potential challenges that your practice might face this year in the process. Proactively plan for potential obstacles that are likely to stop you from achieving your goals. Taking this approach will help you stay prepared when the expected challenges arise.

Identifying potential challenges helps you determine if your goals are achievable. Some practices might set unreachable goals and get frustrated by not seeing progress. Analyzing the challenges will allow you to know if your goal is realistic, reduce frustration and set goals that you can achieve in a specific time lapse.

Track your progress

If you can´t measure it, you can´t improve it. If you cannot measure what you are trying to achieve, your goal will likely not contribute to the growth of your practice. Identifying key metrics, also known as Key Performance Indicators (KPIs), will allow you to determine whether you are on the right track to achieve your business goals and objectives.

If you want to identify which metrics to track, keep the following factors in mind:

  • Can these metrics help me make decisions?
  • Do I have the capacity to measure these metrics effectively?
  • Do these metrics align with my objectives?

If you want to know more about which important KPIs you can track in your medical practice, read our blog Three Key Practice Performance Indicators to Track Monthly – Health Prime (hpiinc.com)

Setting goals may sound easy but monitoring the progress to see how you are doing throughout the year is the hard part.

Here are some recommended reports that you can run on a basis to monitor your medical practice and make sure that your progress is aligned:

For more information on how to set SMART goals to maximize your revenue and improve the way you run your practice, contact our team of billing experts at Home – Health Prime (hpiinc.com) or email us at sales@hpiinc.com. Our team will set up a meeting to discuss how Health Prime can maximize your revenue by cutting costs, saving you time, and collecting more!

Subscribe to our Health Prime blog to stay tuned on all the latest updates to run your medical practice better, so you can focus on what matters the most: your patients.

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