How Much is your time worth?

How Much is your time worth? Cindy Pezza, PMAC

Let’s Examine the Facts. . .

You are a Physician • This is why you spent so many years in school • Invested so much in your education • Studied hard, lost sleep, andlearned to live on Ramen noodles and Spaghetti-Os. . . • Sacrificed to become a doctor of podiatric medicine!

The Irony is. . . • Many DPMs undervalue their worth and their true commitment to providing outstanding care and improving the quality of life for their patients.

Do you Ever Stop and Think ?

About the Impact you Make • On the lives of your patients and their families • On the community and to the field of medicine • How many trips to Disney World have you made more enjoyable for your patients

Why Would you Undervalue Yourself or Your Profession? Surgical residency programs of up to 4 years that allow podiatrists the best training possible . . . . You have learned how to treat patients from HEAD TO TOE (AND EVERYTHING IN BETWEEN) • Other medical professionals cannot say the same!

Even if . . . • You began your post residency career with an inflated ego. . . • Something happened to change that. . And you suddenly found yourself turning into the janitor, “Mr./Ms./Dr. Fix-it”, the “IT guy/gal,” and the list goes on. . .

On the Contrary:No One is Ever Above • Changing a light bulb • Replacing a roll of TP • Sending a thank you card to a well deserving team member • Lending a hand when needed • Troubleshooting computer issues if that is an interest/strength (control, alt, delete) • Diffusing situations between angry patients who are abusing your staff

If you Find Yourself: • Not just lending a hand, but hand holding • Constantly repeating yourself or feeling as if your children listen closer than your staff • Becoming routinely frustrated in a way that affects the quality of patient care • Losing patients and revenue because you are running behind and not maximizing visits

While others are . . . Less Busy

Or, as my Grandfather would say. . . • “Busy holding up a wall”

Perhaps you Need to Discover • The value of your time • How to make the best use of it • How to delegate menial or less skilled tasks and procedures to qualified team members • How to manage without micromanaging • How to maintain control of your financial blueprint • AND MOST IMPORTANTLY . . . . • How to say “NO” (THE MOST DIFFICULT)

Please answer Yes or No

Question 1. • Do you spend time evaluating “reason for visit” or commonly find yourself weeding through a garden of stories until you get the information you need

Question 2. . . • Do you take or have to retake your own X-rays, or explain time and time again to your staff, what you are trying to see

Question 3. . . • Do you cast for orthotics, take impressions, cast or scan for custom orthotics or custom diabetic inserts

Question 4. . . • Do you dispense your own DME items (pre-fabricated as well as custom), spend time reviewing instructions for use, signing patient receipts, handling Medicare required paperwork

Question 5. . . • Do you spend time measuring your patients’ feet, selecting diabetic shoes and arguing with Mrs. Smith as to why her 11 EEE doesn’t belong in a little dainty little shoe

Question 6 (follow ups) • Upon a second or third visit, are you fumbling through pages of a chart (outside the treatment room door), or quickly trying to read your electronic records(while the patient stares at the back of your head)

Question 7 . . . • Are you constantly going in and out of the treatment room, looking for supplies, equipment or to obtain lab or test results that were not placed in the chart or scanned electronically

Missed Appointments • Do you have a “no show” policy in your practice? • Are patients being reminded of their appointments via phone call or through an automated system? • Are patients called the same day if they missed their scheduled appointment? • Do you allow this to happen over and over, or do you do a 3 strikes, YOU’RE OUT!

Missed Appointments are Expensive • If a new patient misses their appointment and a 30 minute block of time was held (with or without double booking), how much money did they cost you/your practice?

Justification • I have heard staff say . . . • “Sometimes we are happy when there are no shows. We usually need that time to catch up and it allows some time to breathe.” • Or, the doctor will say. . “What’s one or two no shows? Does it really make a difference?

Ummmmmm. YES! • If you know your “Patient Visit Value” or PVV (the total $$$ collected divided by the total number of encounters for a set period of time), you understand the importance of limiting no shows.

I’m No Mathematician • If the average PVV is $90 (then take 2 missed appointments a day = $180 x 5 days a week= $900 x 50 weeks (you need a vacation, don’t you?) • That is $45,000 a year! • A pretty impressive chunk of change!

You Could be Driving a Nicer Car !

So, Limit your No Shows! • Have policies in place without calling them policies (no one likes policies) • Make sure patients are reminded of appointment times and dates. • Call your no shows at the end of every day. • Reschedule New Patients once, twice if you are feeling nice, and then do not schedule any further appointments. • Train your patients to respect your time.

Compassion vs. Detriment • Are you an overly compassionate doctor? • Do you allow your staff to “write off” copays or balances when a patient tells a sad story?

Stop Giving Your Practice Away! • Look at your EOBs and find out how much you are being reimbursed (or not) on common codes and procedures. . . • You may be surprised at how much damage is being done by not complying with insurance contracts • Patient responsibility means exactly that!

Back to the Original Question • How much is your time worth? • You decide. . .

Learn the Art of Delegation • Take the time to initially train and educate your team • Continue to educate and train as time goes on • Pay attention to possible ways to improve efficiency through increased delegation or re-delegation • Trust in your competent team to provide superior care to your patients (without overstepping boundaries).

Take Pride in your Worth • You are an expert in foot and ankle care. • Patients come to you from far and wide in search of answers that not even WebMD could fix! • Don’t be afraid to collect what is owed to you • Train staff to handle financial matters compassionately but firmly • Your team should respect your position and be highly supportive of your worth

Your TEAM should Understand • The years of education and training involved in becoming a DPM • Why you entered the field (even if you have to make up an interesting story. . . ) • Your specific scope of practice (as it differs from state to state) The Podiatry school you attended and where you performed your residency • How diligently you have worked to build a practice

WHY? • Because they may not know (no matter how long they have worked with you) • Because you should be proud of your accomplishments • And, more importantly. . . . • BECAUSE YOUR PATIENTS ASK ALL THE TIME! • “Is a podiatrist a real doctor?”

On Monday Morning • Schedule a time to tell your TEAM the story of how you became a podiatrist. • Start making notes of things you do that could be delegated to others with some effort and training (and some that could be delegated right away) • Make an effort to become increasingly mindful of the value of your time (not just financially, but because of what you do for your patients every day to improve their quality of life)

Thank you for Your Time • Please feel free to contact me with your ideas and questions -cpezzapmac@gmail.com

How Much is your time worth?