Obviously, performing the duties of a physician is what a physician does best. So why is it that physicians often spend valuable time taking care of financial, recordkeeping or other functions unrelated to their medical responsibilities? Delegating is hard. But from a business perspective, spending too much time on nonmedical concerns can reduce profits in the long run.
6 tips to consider
Being a leader in service to other people requires giving control, not taking control. Here are six quick tips for delegating:
Don’t be surprised if delegating doesn’t go perfectly right away. Be prepared to switch around assignments to find the best fit.
It’s possible to trust your staff and still install safeguards so you know where your practice’s money is going. Who makes the deposits? How is it monitored? Who has access? Who reconciles the bank account?
It’s a good idea to meet regularly with your accountant to review monthly financial statements. Hold weekly meetings with your business office manager and practice manager, too, so everyone is on the same page.
Give and take
In nonfinancial areas, evaluate whether you can delegate. Some duties can’t be delegated because of legal and medical issues — but most can be. It’s important to assign jobs that can be quickly taught and that you’re comfortable giving up. After you’re satisfied with how those jobs are being done, move on to bigger things. Your CPA can assist you in determining what and how to delegate.