- IT’S CHEAPER:
An efficiently run Virtual Practice Management Service should be very cost effective, running at about 50% of what it would cost to run a physical practice.
- THEY TAKE CARE OF THE STAFF:
They provide you the service and they employ, manage, train and recruit the staff. Enough said.
- ITS PORTABLE:
Virtual services run from a cloud system. In theory, you could pick up your practice and move cities if you had to.
- THEY HAVE PROVEN SYSTEMS:
A good virtual provider will have worked out what works best in running a specialist practice. They will guide you in administering your practice rather than you guiding staff on how you want things done.
- THEY CONTINUALLY EVOLVE ADMINISTRATION PRACTICES: Virtual providers are always looking for more efficient ways of providing service, as their model is completely based on efficiency.
This all sounds pretty good, but virtual services do have their limitations. They require specialists to be fairly tech savvy, willing to follow administration protocols and not reliant on ‘old school’ practices, like handing over sheets of paper with notes scribbled on them.
The model works particularly well in the first few years of private practice, but if a specialist becomes busy enough and yearns for their own space, they may be better suited to a physical practice. Some practitioners have employed a successful hybrid model, teaming up with colleagues who all take advantage of the virtual back end services, but share the cost of rooms and a meet and greet secretary. This method provides ongoing cost efficiencies, whilst also giving those specialists who want their own space the ability to have it.