Practice Administrators: 3 Tips to Better Manage Your Aesthetic Practice
As a practice administrator leading your aesthetic practice, it’s essential to take steps to ensure your office is armed with effective processes and systems for a prosperous year ahead. For this reason, we bring to you 3 tips you can apply today to better manage your aesthetic practice!
Keep reading to learn three simple action steps that will enable your staff to understand and consistently adhere to your practice protocols and policies, make your team feel appreciated and rewarded for their efforts, protect your business from employee theft and spur you on to become proactive in saving your aesthetic practice money!
1. Update Your HR Policies and Practice Protocols
Similar to any sport, having a winning aesthetic practice requires getting the basics right and building a strong foundation. That’s why the first tip is to review your employee policy and procedure manual (a.k.a your employee handbook and SOPs manual) to make sure they are up-to-date. Both manuals should detail the policies and protocols you want your staff to follow and how you want them to be followed. For example, your employee handbook should include your paid time off (PTO) policies, vacation allowances, and policies for bereavement and jury duty time off. You also want to include information on health insurance, uniform allowances, retirement benefits and any other employee benefits. By ensuring your human resources policies and practice protocols are up-to-date (and doing so regularly!), you are setting the stage for a well-run practice that operates the way it is meant to do so.
2. Implement Theft Prevention Processes in Your Aesthetic Practice
A second critical step to better manage your aesthetic practice is to put theft prevention processes in place. Note that theft prevention measures are not always foolproof, and your staff knows this. Therefore, it’s essential to check for inventory variances regularly, waiting too long to identify shortages can be costly. To avoid this, ensure that more than one person verifies your saleable and nonsaleable inventory. Additionally, implement security cameras in key areas in your practice and pay attention to signs of potential theft, fraud, and embezzlement. For more information on how you can prevent theft in your aesthetic practice, you can listen to episode 78 of Shorr Solutions: The podcast, where Jay Shorr and our former partner, Mara Shorr, discuss this topic in powerful detail.
3. Review Your Vendor Contracts
Finally, our third tip to better manage your aesthetic practice is to review your vendor contracts for automatic renewals. Although this is a simple step to follow, oftentimes we see practices that do not keep track of this and end up losing money. The best way to go about this is by keeping a list or a spreadsheet of all your vendor contracts, including expiration dates and the true term for cancellation or automatic renewal. The last thing you want is for your contracts to self-renew and end up having to pay an unwanted escalation clause. Don’t wait until it’s too late to cancel or renew your contracts. Being proactive in reviewing your vendor contracts can save your practice thousands of dollars!
If you would like to learn more about what you should be doing this 2023 to ensure success in your aesthetic practice, check out the article our aesthetic industry expert, Jay Shorr, wrote in the Modern Aesthetics digital magazine column titled, “New Year’s Resolutions for Your Practice: Tips for a Prosperous 2023?”
Remember, we’re always happy to coach you in increasing efficiency, boosting revenue and decreasing costs in your aesthetic practice! Click here to schedule your free 30-minute consult with our expert, Jay Shorr today!
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About Shorr Solutions:
Shorr Solutions is an award-winning practice management consulting company with offices in South and Central Florida. We work with aesthetic medical practices in all 50 states of the U.S. to help them strengthen the operational, financial, and administrative health of their business. With decades of industry experience, our father-daughter partners, Jay Shorr and Mara Shorr, lead our knowledgeable team of experts to assist practices in the aesthetic medical fields increase efficiency, increase revenue, and decrease their costs.
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