When it comes to making a major purchase, such as a new house or car, most of us take the time to research, shop around, and thoroughly do our homework before investing. You might spend weeks planning a vacation, trip, or event. But when it comes to hiring a new practice manager, many practice owners take on the task with relative laissez-faire.
A skilled practice manager adds hours to your day and can easily add more than his or her salary to the bottom line through oversight of costs savings and implementation of efficiency measures.
While many practices understand the value of a qualified practice manager, others simply see it as a plug-and-play role in their practice. The reason is, they have never been exposed to the merits of an extraordinary practice manager and the benefits that accompany a person who brings skill and dedication to their craft. Consider the following traits and responsibilities of an effective practice manager:
Creates more time for practitioners and leadership.
When a practice manager is able to intercede and address an issue that might normally distract the owner, that frees up time for the executive to focus on addressing financials, growth strategies, and working on the business instead of working in the business.
Alleviates the burden of time-consuming tasks
A quality practice manager provides owners freedom from weekends filled with paperwork and back-logged tasks from earlier in the week.
Encourages a positive office culture and work environment
Practice managers help keep people happy, make sure birthday cards get distributed, send flowers to business associates and make the office run in a way that reflects your corporate values.
Keeps the practice updated with new technology
Keeping in step with modern technology and practice processes, as well as recommending the ones that offer time and money savings, is another critical duty of a practice manager.
Provides critical financial information regarding daily operations
A manager researches expenses such as insurance, computers, and phone systems and provides summaries and recommendations to upper management.
An important aspect of having a great practice manager is to give them the liberty to make decisions. For many practice owners, that can be a difficult thing to do, but trusting a portion of your business to this individual is a positive investment in your company and your personal time.
Professional prospects for outstanding practice managers are on the rise. Over the next ten years, the U.S. Bureau of Labor Statistics projects growth of the professional practice manager to exceed that of cardiologists and rival that of dentists. If you have an opening for a practice manager, it’s a great time to consider the role and contact Practice Management Connections. We have great candidates who have made it their life’s work to contribute through practice management. If you’re ready to expect more from your practice manager, contact us. We might know somebody.