Many doctors are realizing the need for work-life balance and rightly so. The list of benefits is expansive, including a positive mental wellbeing, more engagement and passion in your work, fewer burnouts and more time dedicated to your loved ones and hobbies outside of the office.

There are several avenues for constructing your practice to achieve your work-life balance goals, and one option that many doctors consider is working a three-day work week. While this option requires a well-defined plan and a full team effort, there are a few methods to get you there.

When making this dream a reality, consider these factors and strategies.

Understand What You Want to Accomplish

First and foremost, you must understand what you’re trying to accomplish. While the three-day work week is the goal, what is driving the desire to attain that?

Most doctors striving for this schedule have a non-financial benefit in mind. Maybe you may want to be more present with your family as the kids get older, or you’re feeling a little burnt out from years of the daily grind. Whatever your reasoning is, keep that in mind as you develop a strategy.

It’s also important to ask yourself: Are you truly wanting to work three days a week as a long-term solution, or do you just need extra time for something else in the short term? If the latter is the case, consider if the three-day work week is the right solution for you or if there are other avenues that may be a better fit.

Start Planning Early

If you’re a young owner, this is an ideal time to start thinking about this plan. Most doctors don’t start out with a three-day-a-week schedule. They start out with four or five days and then as they figure out what works for them over time, they can taper the schedule down to what it needs to be.

Starting the planning process early can help make the transition in schedule easier. If you know this is your goal, structure your practice in a way so that you can get there. Take a close look at your practice financials and ensure your practice runs efficiently. This doesn’t have to happen overnight, and it can be a long-term goal to work towards.

Bring on an Associate or Partner

Hiring an associate or partner is a practical option to simultaneously achieve work-life balance and manage a thriving practice. With added help in the practice and another doctor who aligns with your priorities, you can prevent the practice from slowing down and even increase profitability, while working out a schedule that allows more flexibility with your time.

For example, you could work three days a week, while your associate works two. Another possibility is the practice operates five days a week, and you and the other doctor work three days a week each with a full overlap day or a partial overlap day that runs 7 a.m. to 7 p.m.

Of course, it’s not a simple flip of a switch to add a doctor to the practice. Finding a doctor that you trust and work well with can take a considerable amount of time and effort. Additionally, you may not have a network of doctors readily available, especially if you’re in a rural area, or your practice is more specialized. However, if you do have the option to bring on an associate or partner, the list of benefits goes well beyond the three-day work week.  

Maximize What You Already Have

For single-doctor owners who may not be able to bring on an associate or partner, achieving the three-day work week requires a little more “creativity.” It’s about maximizing what you already have, increasing efficiency in your practice and consolidating what you’re doing to three days a week.

This may involve a few different tactics, including extending hours on the days you’re open, maximizing your profitability, streamlining production as well as costs or looking at your fees. Your financial advisor can be a significant resource in providing guidance here.

Even if you aren’t a single-doctor owner, considering all of these factors above can still help pave the way for achieving the three-day work week.

Explore Other Schedule Options

A three-day work week is not the only way to achieve a schedule that fits your work-life balance goals. For some doctors, it may be easier to work four days a week and take one week off each month. Other doctors work well with one week on and then a three-day week every other week. As a practice owner, you have the ability to create a schedule that fits your needs.

You’re in Control

Especially when you’re in the thick of things, it’s difficult to remember that one of the advantages of practice ownership is the opportunity to control your own career and the time spent on it. You can craft your practice in a way that meets your unique goals.

At NDP, we believe that your goals can be achieved with the right team and the right transition plan. If you’re wondering what this could look like for you, reach out to our team to start creating your plan.