August 15, 2021
What is profit and does your clinic need it?
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Kate Markland: Good afternoon and welcome to The Clinic Owners Lunchtime Live on 1st December. I hope your opened that 1st door on your advent calendar and had a lovely treat . I got a chocolate brussel sprout this morning.
Celia Champion: I got a gin calendar this year, so I haven’t opened mine yet. Mine will be opened every evening. It’s a little bit early to start the day with I think.
Kate Markland: Celia Champion and myself, Kate Markland are here to give you some hints and tips, advice, and support in terms of running your health care practice.
And today we’re talking about time and the fact that time is our most important asset. So I’m going to hand you over to Celia . Who’s going to help explain this a little bit further, over to you Celia.
Celia Champion: Thank you. so we all have the same 86,400 seconds every 24 hours And we need to just really be able to make the most of it. So I just want to talk through Stephen Covey’s, time management quadrants,
to give you a bit of an assistance in terms of just managing your time a little bit better. So there are four quadrants, we’ve got, things that are urgent and important, so they have deadlines things like your tax return, as an example, you know, you need to get it done by a certain time. so you just have to crack on and do them. So, a phone ringing is, you know, if it’s a patient booking in, you’re going to be taking that phone call because it’s there and you’re gonna be treating your patients.
Celia Champion: Those are, you know, kind of can be seen as important and urgent to be, to be sorting out. So that’s your first quadrant. The second quadrant are those things that are important, but there’s no urgency to them. That quadrant is one of the most important quadrants that you need to look after because it’s those things. That’s like the planning, it’s your marketing, it’s your relationship building. It’s all the things that you don’t have to do. But if you do do them, you reduce the amount of urgent things on your desk. So those are the first two quadrants. And the third quadrant is the area that it’s important to be done, but it’s not important for you to be doing it. So it might be urgent, but it’s not important that you, that you need to do it. So that quadrant is the area where you look at, what can I delegate
And that’s where you start looking at, how much is my time worth.
So you can take an example of say, let’s say you treat patients and you charge £50 per session, so if you treat a two patients, you’d be earning £100/hour, why would you then be doing the cleaning, which you can pay a lower fee per hour or the bookkeeping or those kinds of things. So it’s really looking at what can you delegate and, and being really strict with yourself because sometimes, practice owners think, Oh, well, I’ll just do it because it’s much quicker. If I do it myself, instead of spending the time in the important not urgent quadrant. So rather take the time, train your staff so that you don’t have to be doing those urgent things that aren’t important for you to be doing.
Celia Champion: And then number four, the quadrant number four is the area where it’s not important and it’s not urgent. It is those things that you really need to ditch, and you need to restrict yourself in that area as well. And sometimes doing a time and motion study for a week or so can really help you to work out what things you should not be doing. I was just speaking to a client this morning and she said , she knows that she needs to do like some, some of the stuff on LinkedIn and Twitter, but what she finds as she goes on and then it is kind of an hour later, and she’s got lost down, just looking at things. She finds herself thinking, what am I actually sitting doing here. So, make sure that you are actually calculating how much time are you spending on those kinds of things. So, I hope that, if you sit down and just dedicate all your different tasks into those quadrants, that you will find that helpful.
Kate Markland: You can find out all sort the things. If you list everything your doing, put them in those four quadrants, you can identify the things that you need to eliminate, that you can get rid of altogether. Some of the things that you can transfer and that’s transfer, not abdicate.
As Celia described , you’ve got to make the time to organize what you’re transferring. And I think the wonderful thing is, as a clinician is we’re used to living almost like a school timetable of one hour, half hour, 45, 15 minutes slots. Can you do exactly the same with the remaining tasks So perhaps you need to block out some time, maybe a Wednesday afternoon or Tuesday afternoon to run, to do all your business administration, but can you put it into the same slots that you do with your clients, or it happens with the school timetable. So you know that between 1pm and 2pm is marketing between two and three is finances or whatever it is. So you’re getting organized and using that great, healthy habit that you have of keeping to a schedule and applying that principle to, to the business administration. So we’re back again tomorrow.
Celia Champion: Tomorrow, we’re going to be talking about whether it’s a good time to be investing in your practice at the moment. Next Tuesday we’ll be launching our book reviews. So we look forward to seeing you either tomorrow for our kind of talking about whether you should invest in your practice, and next week for training. And then we’ll also be back on Thursday. So have a fantastic day and we look forward to seeing you tomorrow. Thanks for joining us.
Kate Markland: Bye bye for now.
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