Trying to navigate processes and promote steady growth in any business, let alone this constantly evolving healthcare field, is a challenge. There is always something to do, something to know—and unavoidable tasks you need to do to keep your practice running. Implementing simple changes can make a huge difference in experiencing growth.
Here are a few tips and tricks that may help!
Focus on Your Practice, Not Payroll
As a medical practitioner, you studied to be a doctor. The business requirements distract you from doing the work you know and enjoy. Mundane but highly necessary administrative tasks like payroll can take up significant time and prevent you from focusing on supporting your staff and patients—and growing your business. Any errors, like poor payment tracking and tax mistakes, can result in costly penalties.
You don't need to worry about these tasks; you can outsource them to a qualified HR professional. PEOs handle your payroll, including conducting payroll taxes and maintaining compliance. It lets you focus on growing your business and decide which medical endeavors to add to your practice.
Offer Great Benefits to Improve Retention
Did you know 78% of workers would likely remain with their employer because of the benefits they offer? Providing high-quality health benefits helps you keep your employees satisfied. That includes healthcare and retirement benefits, but it's definitely not limited to that. Offer flexible work options, like remote work days and options to set hours. Investing in training employees also demonstrates your investment in them by helping them grow professionally. It also ensures your practice stays up-to-date on any medical advancements to provide the best possible service.
Supporting employees, whether with healthcare or education, shows your staff how much you value them. Employees will more likely stay with your company when you feel valued.
Conduct Risk Management
Ensuring your business is protected if anything goes wrong is crucial to your practice's ongoing health. That involves training your employees to properly use equipment to ensure they and all patients don't get injured. Proper protocols won't remove every accident but will decrease their likelihood and your liability. Keeping safety manuals and training updated and having appropriate insurance and worker's compensation plans covers you in case anything happens.
Your PEO partner can provide this coverage and guide you to uphold OSHA compliance, conduct thorough background checks for prospective employees, and conduct drug testing. They can help you identify potential workplace hazards and develop a safe workplace environment.
Embrace HR Technology
You can increase efficiency and streamline your HR processes, helping to improve communication and reduce the chance of errors. Your HR software interface can let employees access their benefits, submit time-off requests, and update any necessary documentation. Allowing employees to input information directly makes it more accurate by avoiding the need to copy the numbers into the system with a form. That makes the ongoing user interface easier but also helps during your hiring process and yearly tax forms. Employees can fill out onboarding equipment themselves before their start date, so they're ready to get right to work.
Grow Your Medical Practice with a PEO
These tips and tricks will help improve your medical practice, giving you an edge and a vision to enhance growth. With the assistance of a reliable and well-known PEO, you can move the needle, get the right processes in place, and focus on what's important – the patients. Providing excellent patient experiences starts with ensuring you have happy, satisfied staff. When your business has positivity all around, its chances for success are stronger.