Captainships Help Create 85% Revenue Jump
Revenue in 2017 was down by 44% in a Washington state audiology practice: The owner-provider was struggling to run both offices after adding a second location, patient opportunities had dropped, and her team wasn’t communicating well with each other.
After an on-site assessment, Audigy helped the practice develop captainships for team empowerment and accountability. They also assessed each team member’s communication style, then helped everyone understand how to best connect with one another.
Compared to the prior year, practice revenue increased 85% and opportunity flow doubled. The business was able to hire a second provider to help manage both offices. With greater data clarity, the staff has a solid grasp of how best to fit in revenue-generating appointments.
Feedback and follow-up were crucial parts of the process:
Naming priorities and finding captains
Captainships were established within two weeks for opportunity data, patient billing and collections, financial performance, and key performance-indicator analysis.
Fine-tuning the reporting
For two months, they refined the look, feel, and details of the captainship reports so the owner had the data she needed for decision-making but wasn’t overloaded with information.
Hitting the right cadence
The owner received weekly updates from all captains. This kept her apprised, ensured budget targets were met, and enabled team members to hit their compensation-plan goals.
Team obstacles included learning effective communication, reporting weekly, and maintaining expectations. The owner’s influence drove the process and kept everyone accountable.
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