5 Goals to Set for Your Healthcare or Wellness Business
When you first start a business, setting your goals is crucial to your success. However, goals aren’t black and white. They can change with the economy, feedback, and even when a new idea comes to mind. While your goals can be whatever you want them to be, I’ve compiled some popular ones that stand out for wellness businesses.
5 Goals Every Wellness Business Should Have:
Retention
Inclusion
Experience
Costs
Expansion
Improve Employee & Patient Retention
Employee turnover can cost a company two times the employee’s annual salary. By focusing on employee retention, you can avoid productivity losses, your workers will be more engaged, and there will be a positive company culture. In addition, when you retain your employees, you create a better patient experience.
Happy employees who have worked at a business for extended periods of time are more experienced and can consistently provide positive interactions for each patient. In addition, patients who feel welcome and taken care of when they visit your practice will not only continue to return for future visits but will also recommend your business to friends, which will bring in new revenue.
Include Your Employees in the Discussion
Inclusion can be done in several ways. After all, your employees are your MVPs. They are in constant contact with patients, can run your office seamlessly, and manage some of the most important processes to keep your wellness business up and running. So when new goals need to be created, or processes need to be changed, including your employees in the discussion lets them know that you value their input.
Other important inclusion pieces include benefits for your staff, a healthy work-life balance, a sense of belonging, open discussion on large topics such as mental health, creating a safe space for all employees, and addressing conflict.
Create a Better Patient Experience
Even if everything is going well, there is always room for improvement. If you hire me, I can help you gather valuable patient data and align your goals with the feedback you’ve received. By putting time and resources into this, you are also increasing company loyalty.
By focusing on the needs of your patients and taking their feedback seriously, your patients will continue to stay loyal, even when pricing changes can occur. Brand loyalty is crucial for long-term success.
Reduce Your Costs While Increasing Revenue
If you don’t have to spend any more money on employee turnover because you’ve cracked the code for retaining your employees, you are already saving costs. In addition, as your experienced employees continue to increase their productivity and create better patient experiences, you can use that revenue to improve other parts of your business.
This could be an improved software that makes day-to-day tasks easier, refreshments in a waiting room, or even a new employee. By reducing costs in areas that are going well, you can invest in other areas of improvement, which will increase overall revenue.
Expand Your Healthcare or Wellness Business
Expanding your business is a great way to increase revenue. Whether you are looking to add new locations or new services, any expansion helps you bring in new profits allowing you to plan your exit strategy. By working smarter, not harder, you are setting yourself up for future success.
If you aren’t sure where to begin, reach out to me. As a healthcare business coach, I can help you plan and achieve your short- and long-term goals, ensure you’re utilizing your team’s genius zone, and help you bring your business to the next level.
-Dr. Jennifer Bonde