Grow your Practice
Building a data-driven private healthcare practice
Why tracking business data is essential for growing your private healthcare business
Putting in place a strong business infrastructure for your private healthcare practice from the start will make sure you can function smoothly from the get go. With the right software, performing the basic functions of a healthcare practice and providing the highest level of patient care will be much easier. Furthermore, implementing these softwares early on will create a strong foundation from which your business can grow and thrive in the future.
Here are our suggested top 5 softwares you need to put in place when starting a private healthcare practice:
You won’t be able to start seeing patients without a booking system. Using a digital booking system will make the patient journey more efficient at all stages.
An online booking system makes the first part of the patient journey as streamlined and efficient as possible for both patients and staff. Instead of spending hours on the phone waiting to talk to a receptionist, patients can go directly to your website and book their appointment.
An integrated online booking system also enables a practice to send out pre-consultation questionnaires and take payments for bookings ahead of the appointment. These two options save valuable time and reduce paperwork and admin labour. Furthermore, with an online booking software, it is easier to track and manage appointments with calendar management and an overview of rooms occupation and clinicians’ schedule.
Using an electronic medical record (EMR) software in your private healthcare practice will not only save hours of paperwork, but also make it easier to treat patients. With an EMR software, all previous and current medical histories are stored in a secure, cloud-based server. Everything from vaccinations to doctor’s notes, appointment history, medications, and personal details are stored in one location.
By hosting records on a cloud-based system, patient data is available to clinicians and staff whenever they need it, regardless of location or device. All registered users can access the cloud at any time with their unique login. Patient data is readily available at your fingertips - no need to go sifting through the filing cabinets or searching across multiple different hard drives!
Crucially, the ability to pull patient data easily from an EMR software will prove invaluable when it comes to completing CQC audits and fulfilling the necessary regulatory requirements of a private healthcare practice in the UK.
Using an online payments software in your healthcare practice from the beginning will reduce paperwork and make it easier to track and manage cash flow.
Software integrations with your practice management software, such as Stripe, Healthcode, and Xero, provide easy monitoring of payments as they are sent, completed, and processed. Take payments ahead of appointments and track any outstanding payments still due from patients.
As your private healthcare practice grows and takes on an increasing number of patients, it will be vital to have an efficient payment software in place ahead of the game.
Tracking the financial health of your private healthcare business from the start will provide a clear insight into the progress and performance of your business. Understanding where you are making a potential profit or loss will enable you to make informed business decisions and create a stronger, more successful business in the long term.
Read this article for 7 steps to writing your healthcare business plan
A good accounting software will allow you to issue invoices, track their status from sent to processed, and provide a full financial overview of your practice’s operations.
Not only is financial management key to success in business, but HMRC now requires businesses to be digitally compliant under the Making Tax Digital campaign. With digital accounting software, financial monitoring is easier and you are more likely to correctly complete tax forms and payments.
Learn more about Semble’s accounting and financial management software on Semble’s Xero integration page.
Patients - the most important part of a healthcare business! You will struggle to attract business if patients don’t know you exist, and the main way to make sure your practice is attracting customers is to implement a good marketing strategy.
While marketing may be something that, as a clinician, you are not an expert in, setting up a good marketing strategy and tracking its success can be a game-changer. A website analytics tool will help you focus on what’s working in your business and make sure you don’t waste money on what’s not, helping you reach more patients and grow your business.
Google Analytics
Google Analytics is a free tool that is essential when it comes to tracking where your website visits and online bookings are coming from. By setting up some simple reports you can track the source of your visits and online bookings to see what marketing channels and efforts are delivering patients. With this data at hand, you will then be able to make smarter decisions when it comes to focusing your marketing spend and growing your practice.
With these five basic softwares in place, your private healthcare practice will have a solid base from which to build on in terms of business management and performance. Putting these structures in place as early as possible will save time down the line and enable you to start your business on the right footing for success and growth.
For more business tips and tricks, explore our Data-Driven Business Series on the Semble blog.