Align incentives to achieve success

A healthy practice requires a lot of synergy from a team.  It requires common objectives, typically set by leadership in conjunction with the team.  Most commonly, ownership will establish expectations for the business, and the team, in conjunction with management (sometimes the same as the owner), will work to establish a plan to accomplish those objectives.  If the objectives aren't met, then the owners will have to decide if it is the fault of management, in which case, management may change, or if it's the shortcomings of the team for one reason or another.  In that case, a decision might be made to alter the resources allocated in order to improve the team's ability to accomplish the objectives.

Success will depend upon establishing well-aligned incentives for all parties.  Owners, staff, and the clients must get what they want from their interaction with the other stakeholders.  When each party achieves great satisfaction, that is when the practice achieves great success.  The owner(s), staff, client(s), and patient(s) all achieve health.  That is the goal, with whatever measure achieves health.  It might be a well-healed patient, and relieved client, or well-paid and satisfied staff and owner.  Align the incentives and your chances of success are much greater.

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