Kobe has one. Tiger has one. Eli Manning has one. In brief, every superstar athlete has a coach. So do corporate executives. I do too.
I decided I needed a coach when I acquired my practice 18 months ago. I was overwhelmed with all the new challenges. I needed help on many aspects at my practice, including managed care, medical coding and staff development.
The coach I chose was Scott Daniels, a principal of Practice Concepts, Inc., in Newport Beach, CA, which provides an array of services for ophthalmic as well as dental, medical and veterinarian medicine practices. The name of the firm’s coaching service: iCoach.
I was able to observe first hand how the medical model works thanks to Practice Concepts principal Alissa Wald, O.D.,
whose practice performs that model at a high level.
Daniels helped me to set goals, plan marketing and develop manuals for staff development. While I could learn how to do all of these tasks, my coach helped me see the other side of practice for which I didn’t have experience – the business side.
For example, iCoach taught me how to most appropriately set my professional fees, manage and price my frames and lab services. I also received coaching on office computer software. My coach also provided me with tools to introduce and effectively hold monthly staff meetings.
MORE ABOUT
iCoach According to Scott Daniels, of Practice
Concepts, the
firm’s recently introduced iCoach program
“inspires
and helps increase practice profits, improves management and
puts the
fun and profit back into ownership. Coaching offers a way to
remove the
obstacles and ‘noisy’ distractions that
get in the
way of practice goals. Our program starts with a full
practice analysis
and action report. This provides the blueprint to help
achieve
practice’s
goals.”
For 20 years,
Practice Concepts has provided brokerage services along with
business
and practice expertise. Services also include seller and
buyer
representation, partner buy-in services, exit planning and
appraisals.
Contact info is PracticeConcepts.com or Scott@PracticeConcepts.com.
Has it been worth it?
Compared to the previous owner’s last year’s financial performance, the practice has grown nearly 15%. Staff has accepted greater accountability and performs more as a team thanks to an invaluable lesson from my coach that I have to learn to be a coach myself.
I received coaching one hour per week. I liken it to a therapy session during which the coach first listens and then asks questions before offering guidance or providing me with hands-on observation at an affiliated practice.
Call it a slam dunk, hole in one, or touchdown, but coaching has worked for me by providing me fast and effective problem-solving as well as strategic understanding of my business opportunities.
Jenny Huong Vu, O.D., is in private practice in Moreno Valley, CA. Contact feedback@visioncareventure.com with comments and/or suggestions for future topics.
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Kobe has one. Tiger has one. Eli Manning has one. In brief, every superstar athlete has a coach. So do corporate executives. I do too. 