Jun 18, 2020
Dr John Guiliana has had a unique career path, moving
from Pharmacy to Podiatry and eventually into Healthcare Management
with NEMO Health.
Right now, during COVID-19, he has been assisting podiatry
business owners across North America to move through the Fear,
Learning and Growth Zones, and helping them understand how they can
have lower patient volumes, yet still, enjoy improved
profits.
On this episode we discuss:
- How a D+ student found his intellectual
groove
- Why he decided to leave Pharmacy and become a
Podiatrist
-
Nemo Health - A Practice Improvement Company
COVID-19
Covid-19 has affected everybody, on both a business
and personal perspective, and it has been global.
Fear, Learning & Growth Zones
During this pandemic, it's essential to get out of
the Fear Zone, move through the Learning Zone, and eventually get
into the Growth Zone
You need to learn how to maintain profitability in
your business with lower patient volumes, and some podiatrists will
come out of the pandemic in a better than when they went
in.
It's about learning to do more with less.
Why is there is a low patient
volume?
Patients are also going through the three zones of
fear, learning and growth.
There is also the Paradox of Thrift
- which occurs when you have people that have been economically
hurt, and because of this, they become more thrifty with where and
when they spend their money.
Cash flow is the key right now for every business.
Getting paid faster and being more careful where you spend your
money, only then can you work on profits.
"The actions you take right now are going to help you
with the long-term profitability of your business."
Action Steps with Lower Patient
Volumes
- Spend time reinventing your practice:
- Go through your policy and procedure manuals.
- Engage and collaborate with your staff and be a leader, and
remove those team members that will not change.
- Look at your clinical protocols: You need to
increase your PVR - Per visit Revenue.
- This is why lower patient volume will help increase long-term
revenue because of the more thorough patient and evidence-based
protocols.
- These will well offset lower patient volumes.
- Focus on what you enjoy doing. Get rid of the things they don't
like to do.
- Looking beyond the chief complaint: What other
treatment or service can you ethically provide.
- Dentists have been doing this forever. They explain things you
cannot see
- Does your patient with an ingrown toenail have bunions or
chronic knee pain? Creating Care Plans results in
better patient outcomes and higher PVR.
Final Tip
Search for lessons learned. And the #1 lesson learned
from this pandemic is the importance of liquidity. You need to have
six to nine months of cash reserves for the next economic
crisis.
If you have any questions after listening to
this episode, please send me an email at tf@tysonfranklin.com,
or you can reach out to John at john@nemohealth.com
John Also has a podcast video series called Essential Adaptations. (Live Wednesday 8 pm
EST)
Facebook Page & Group
Facebook Group: Podiatry Business Owners Club - This is for
podiatry business owners and budding business owners, and is the
group I now add my business and marketing videos.
Facebook Page: Podiatry Legends Podcast - This is where I post
each podcast episode and information regarding podiatry events
around the world.
Podiatry Business Coaching & Mentoring
If you want to own and operate a Thriving Podiatry
Business, you've got to work on four specific areas of your
business.
- Marketing - You need to have a proper,
well thought out strategy
- Systems - You need systems that will
support both your marketing and your team.
- Team - You need to develop a culture that
makes your life easier, not harder
- Diary - This is the backbone. Your diary
needs to be structured in a way that maximises patient number per
day and in turn, will increase your daily profits.
Thinking you can just work on one part or maybe two
out of four areas and still do well is no longer good enough, you
must develop all four pieces of the business puzzle.
If you want to join one of my upcoming
Group Coaching Programs
or discuss one-on-one Business Coaching & Mentoring, please email
me at
tf@tysonfranklin.com, and we can set up
a Zoom Call and have a quick chat and see where I can
help.
Newsletter & Events
Please sign up for my NEWSLETTER if
you'd like to know more about upcoming EVENTS, I
promise not to spam you with daily emails telling you how great I
am.
My Book
It's No
Secret There's Money In Podiatry. In Australia,
you can order directly from my website, but if you live overseas, I
would suggest Amazon or the Book Depository.
Tell Your Podiatry Friends
If you enjoy listening to Podiatry Legends, please
tell all your podiatry friends, and please feel free to leave
a REVIEW on iTunes, or wherever
you like to listen to podcasts.
If you enjoyed this episode you might also
enjoy:
Episode 40 - Dr Michael Graham The
Entrepreneurial Podiatrist
