Things to think about
Leaving a legacy and not a liability
This program is about developing like-minded future owner directors of your practice or business. It is also about how you breed and retain your top performers whether they are clinicians or receptionist at the front desk. This program is about building and keeping innovators in your practice.
The first objective of this program is to ensure all owner-directors via “The Board” are on the same page, and hold a vision and direction for the practice that is fair and equitable.
The second objective is to provide a career pathway for future owner-directors. The Directors Pathway Program grooms them to one day buy a retiring share on fair and equitable terms, as well as value-add beyond the fees they may generate.
The third objective is to encourage a task force committee for aspirational owner directors to work live and closely with implementing the practice’s objectives. This road tests the applicants and also assist practices in delegating important projects to enthusiastic staff members on the team.
A High Performance Career Pathway
This is a career progression pathway for any staff member. This ensures recruitment and retention of your top performers, and it breeds your owner directors for tomorrow. Harvard research (see video below) shows mentoring is the key to success, and being open and transparent about an individual’s career. This is ideal for succession planning.
The key behind this career progression is to recognise, mentor and reward staff for their hurt time as well as for the hurt money they invest in the practice. Their merits are awarded by the number of SPUD’s they have achieved. Ultimately all your staff are given a career and not just a job. This ensures like minded owner directors are groomed to take over your practice, when you are ready. In the meantime, you can gauge how much to invest in them, and when. At the end of the day, star performers want to work with star performers. Keep them connected.
Chartered Accountant, Chartered Tax Adviser, Registered Tax Agent, Former AGPAL Surveyor 10 years of service
David Dahm is CEO and founder of the national medical and healthcare chartered accounting firm Health and Life and global Founder and CEO of the not for profit project the International Healthcare Standards and Ethics Board (www.ihseb.org)
After a serious work related car accident in 1989, and nine operations later I continue to be a patient and provider advocate. I enter my third decade as a national Chartered Accountant for Medical and Healthcare practices in Australia. I am a former 10-year Australian General Practice Accreditation surveyor. I come from a medico family. I have served on the AAPM national Board and was the inaugural national Chair of the Certified Practice Manager CPM post nominal. I continue to provide accounting tax and practice management advice to many practices all over Australia.
You know who you are and I thank you for this real honour and privilege to serve you and your community through you. Note, I am not a lawyer please seek appropriate legal and accounting advice. This information is for general information and discussion only.