It never ceases to bewilder me how many consultant surgeons don’t use time efficiently.
Let me give you a real example from the fist week of November when MHM was contacted by a consultant who was struggling with his private practise.
So we had a 30 min Skype conversation.
There were not enough hours in the day it was claimed to be able to generate revenue.
The bad news is that there are only 24 hours in a day. It doesn’t matter if you are the most gifted, talented and dedicated surgeon on the planet. There will still only be 24 hours in a day.
The problem the consultant surgeon had was that he wasn’t using the 24 hours in the best possible way. And that is why he wasn’t generating as much revenue as he wanted. Therein also lies the clue to the issue. – how does a surgeon generate income?
By seeing patients or by being in theatre with patients.
Most things outside of these two actions do not generate revenue for a consultant.
This particular consultant surgeon had practicing rights in three different hospitals. Some days he spent between 2 and three hours driving between hospitals. That’s why I pointed out to him with an average consultation duration of 30 minutes (ish) and at an average consultation fee of £150 even he if only drove 2 hours that was costing him £600 in lost consultation fees ( 2 hours = 4 consultation slots @ £150 per slot = £600). 3 hours cost him £900
It’s just the same for MHM. If I don’t spend time generating invoices for my clients or spend time collecting money for my clients, I can’t charge them. So rather than take the time to go see a potential new client, I have a Skype conversation with them. I don’t spend the time sitting on the motorway or on a train going to meet them.
Don’t misunderstand me, I enjoy meeting potential new clients but why waste their time and my time if a Skype conversation can sort the issue out instead.
Consequently, the consultant is now thinking about how he is using his time.
It may well be he decides not to work at one of the three hospitals concerned. I have no idea but I’m not sure I would. Its just one small example of the thought process necessary to build and grow a successful private practice.
Sometimes, you need to step back and carefully consider what ACTUALLY generates the income and concentrate on that.
After all, there are only 24 hours in a single day.