Month: March 2018

How Can Volunteering Help Your Physicians Recharge?

Posted on by VettersEnt

Experts have known for a long time that volunteering is a good thing. After all, what could be bad about giving back to the communities around us? However, new research is suggesting that volunteering is also good for your body and mind. Physicians who are looking to recharge and reignite their passion for helping others can benefit from taking time to volunteer.

The Mental Health Benefits

Volunteering has a wonderful effect on mental health. According to the Corporation for National and Community Service, much of that stems from social integration theory. Social integration theory is the idea that the social connections between individuals provide meaning and purpose and satisfaction. Individuals who volunteer feel accomplishment from giving back and also gain fulfillment from being in a helpful role. Another study of older adults found that volunteering can buffer the sense of loss that they felt as they lost other identities, like being a wage-earner or parent.

The Physical Health Benefits

One study from Carnegie Mellon University found that adults over the age of 50 who regularly volunteered had a lower likelihood of developing high blood pressure. As most physicians know, high blood pressure is a major risk factor for heart disease, stroke and premature death. While the link between physical health and volunteering might be incidental, it goes to show that doing good can also do your body a whole lot of good.

Why Volunteering for Physicians?

Long days and nights at a medical practice can make it easy to forget why doctors went into medicine in the first place—to help others. If doctors and nurses in your practice need to recharge, volunteering is the perfect way to do so. What are some of the other benefits of volunteering?

  • Increase social interactions with people other than patients and co-workers during the week.
  • Provide a sense of satisfaction and increase self-esteem.
  • Add career experience in other fields to your resume, like public speaking, writing or business development.
  • Stay mentally and physically active outside of work.
  • Enjoy the rush of endorphins and happy feelings associated with volunteering (similar to how you feel after a great workout).

Partner with Vetters Enterprises for Help Taking Your Practice to the Next Level

Vetters Enterprises specializes in practice management, private practice business support and revenue cycle optimization. We can perform in-depth assessments of your practice or facility and identify potential issues. Let us keep your business as healthy as you keep your patients! Give us a call at (443) 352-0088.

Is Your Practice Location Hurting Your Bottom Line?

Posted on by VettersEnt

What is one of the keys to a successful medical practice? It’s all about location, location, location! When you are trying to find the perfect practice location for your office, there are many factors that you must consider to ensure long-term profitability and success. Whether you’ve been in the same location for a decade or are finding space for the first time, here’s what you need to know about choosing the right location. 

Why Does Location Matter?

Three recent studies found a single common factor in what matters to patients—location. 6 out of 10 patients choose a practice primarily based on location. In fact, convenient location is twice as important to patients as your practice’s success rates or outcomes.

Competition Isn’t Always a Bad Thing

In neighborhoods and cities where medical practices are on every street, it might seem like you have no chance to succeed against already-established doctors with a reputation in the community. Don’t be intimidated by competition, as there are many clever ways to differentiate your practice from the crowd. Check the population-to-professional ratio for the area around you. In areas with low numbers of professionals, there won’t be much competition. However, in busy areas marketing, reputation and customer service can make a huge difference.

Demographics Make the Difference

Another key to a great practice location is staying on top of ever-changing demographics. Is the population declining or growing? In many cases, it’s easiest to gain traction in newer communities than tight, well-established locales. Pay attention to numerous demographics including household income averages, age distribution, the types of jobs and population growth.

Look Around You

The most successful practice locations are often those surrounded by other popular things. What else is located within 5 miles of your potential practice location? Are there banks or grocery stores? What traffic patterns are there? In general, a location that is passed by 40,000 or more cars in a 24-hour period is considered to be a retail location. If you set up shop in a smaller town, you might have higher visibility thanks to less roadside clutter, but you also won’t have access to as many potential patients.

Partner with Vetters Enterprises for a Great Practice Location

Vetters Enterprises specializes in practice management, private practice business support and revenue cycle optimization. We can perform in-depth assessments of your practice or facility and identify potential issues. Let us keep your business as healthy as you keep your patients! Give us a call at (443) 352-0088.