1. The Timing of Integration: It Might Be Too Soon
Assessing Readiness for Integration
Dr. Rademacher stresses that premature integration is a common pitfall. He explains the importance of financial readiness, suggesting that a practice should generate at least $50,000 a month before considering integration. This financial threshold is crucial due to the increased overhead costs associated with integrating various medical disciplines.
Importance of Efficient Systems
Another key aspect is the establishment of effective systems within the practice. These systems should facilitate seamless patient flow and file management, from the front desk to billing. Dr. Rademacher emphasizes that without these systems, practices are likely to face operational challenges.
2. Lack of Organizational Know-How
The Role of Structured Organization
The second major reason for failure in integration, according to Dr. Rademacher, is a lack of organizational skills. He advocates for the use of an organizing board to create clear divisions within the practice. This tool helps ensure smooth operations and prevents bottlenecks in patient care and administrative processes.
Consequences of Poor Organization
Dr. Rademacher shares that many offices fail to sustain integration due to poor organizational structures. This lack of know-how leads to inefficient workflows and can ultimately result in the disintegration of the practice.
3. Inadequate Patient Flow and Conversions
Expanding Patient Base and Services
A crucial aspect of a successful integrated practice is the ability to attract new patients and offer high-ticket services. Dr. Rademacher points out that integration often involves moving beyond traditional care programs to more expensive ones, which insurance might not cover.
Strategies for Improvement
To improve patient flow and conversion rates, practices must diversify their patient acquisition methods. Dr. Rademacher suggests having multiple strategies for bringing in new patients. He also emphasizes the importance of team alignment and patient education in selling higher-value services.
The Role of the Business Academy in Facilitating Success
Comprehensive Support and Training
The Business Academy offers programs and consultations to help practices navigate the complexities of integration. Dr. Rademacher advises practices to assess their systems and conversion rates before seeking integration.
Ethical and Practical Guidance
The Academy’s approach is not to push for integration at all costs. Instead, it focuses on ensuring that a practice is genuinely ready for this step, both financially and operationally.
Conclusion: Setting Up for Success
Dr. Rademacher concludes by underscoring the importance of being well-prepared for integration. The goal is to enable practices to thrive, contributing positively to their communities and achieving their desired levels of success.
Dr. Gary Rademacher founded Downtown’s Healthcare in Denver in 1997, eventually growing that chiropractic practice to 600 patient visits a week. In 2011, he integrated medical providers into his office, believing that the combination of chiropractic and medicine would provide the best care for his patients. He fully believes in the innate power of the body’s ability to heal itself and that medication and surgery should be a last resort. Dr. Rademacher received the Colorado Chiropractic President’s Award in 2011 and currently co-owns The Business Academy and owns My Injection Training a medical training company that has trained over 200 medical providers on ultrasound guided joint injections.
