The Ownership Mindset: Taking Control of Your Practice’s Growth Path
As a private practice owner, it’s easy to feel stuck. Challenges like employee turnover, burnout, or profitability issues might have you paddling harder but going nowhere. If that sounds familiar, it’s time to adopt an ownership mindset—one that empowers you to take control of your practice’s growth by focusing on the system creating these outcomes.
Your System, Your Outcomes
Everything you experience in your practice is the result of the system you’ve built. That’s not a criticism—it’s an opportunity. If you want to change your outcomes, you have the power to tweak the system to produce something better.
The challenge, however, is how you think about problems in your practice. As a physician, you’re trained to diagnose and fix issues—identify what’s abnormal, then repair or manage it. While this approach works well in clinical settings, it can backfire when applied to business.
Why a Fix-It Mentality Doesn’t Work in Business
Unlike patients who come to you with a history you can’t change, your practice is entirely within your control. Quick fixes might feel satisfying, but they often don’t address the underlying cause of the issue. Without addressing the root of the problem, frustrations will resurface.
For example, if your team is constantly behind schedule, the “fix” might be to hire another staff member. But if the real issue is unclear workflows or lack of accountability, adding someone new won’t solve the problem—and might even make it worse.
Business problems demand a systems-based approach. Rather than focusing solely on the first-order consequence (the immediate issue), you need to think about second-and third-order effects—the long-term impact of your actions.
How to Adopt the Ownership Mindset
Taking control of your practice starts with shifting how you view problems. Here’s how to get started:
- Step Back and Analyze the System
When something isn’t working, resist the urge to jump to solutions. Instead, ask yourself:some text- What part of my system created this issue?
- What processes or structures allowed this problem to exist?
- What can I tweak to ensure this doesn’t happen again?
- Taking ownership means understanding that every outcome—good or bad—is the result of the system you’ve built.
- Separate Your Hats
In clinical settings, your role is to fix problems. But when you put on your business owner hat, your focus shifts to managing and refining the system. Approach your practice like an ongoing project, not a series of isolated issues to solve. - Own the Profitability
Profitability isn’t a dirty word—it’s a sign of health. It’s proof that your practice is providing value to patients and that you’ve built a sustainable model for care. Embrace this responsibility. A healthy, profitable practice gives you the autonomy to run your business on your terms and care for patients in the way you believe is best. - Empower Your Team
Sometimes we delegate problems to administrators or managers and expect them to fix things. But if the system itself is flawed, they’re stuck operating in a broken framework. Instead of expecting them to solve problems, give them the authority to take a step back, assess the system, and make meaningful changes.
Turning Responsibility Into Power
Taking responsibility for your practice’s challenges isn’t about blame—it’s about empowerment. When you own your outcomes, you unlock the ability to shape your practice’s future.
Here’s a powerful mental shift: Instead of saying, “Why is this happening?” try saying, “What part of my system created this, and how can I improve it?”
By taking this approach, you’re no longer at the mercy of external frustrations. You become the architect of your practice’s success.
Your Next Steps
If you’re ready to adopt the ownership mindset, start by examining one area of your practice that feels frustrating or inefficient. Ask yourself:
- What outcome am I experiencing, and what part of my system created it?
- Am I thinking about first-order consequences, or am I considering the long-term impact?
- How can I take responsibility for the result and create a lasting solution?
Why It Matters
Your private practice is more than a business—it’s your mission, your livelihood, and your opportunity to care for patients in a way that aligns with your values. By adopting the ownership mindset, you’re ensuring that your practice remains independent, healthy, and aligned with your goals.
The outcomes you’re experiencing today are the perfect result of your current system. What outcomes do you want tomorrow? Take ownership, and you’ll have the power to create them.
