Dental practice tips
acHieving total Practice SucceSS
TIPSTO
TOTAL PRACTICE SUCCESSTM
How to Survive and Thrive in Uncertain Times
1 Invest in Your Practice.
You’ve chosen a great career. It can give you freedom to work only three or four days a week, achieve financial independence at an early age and live the life you want. But those objectives just won’t happen—you’ve got to make them happen. And you do that by investing in
your practice, because this is the place—not the stock market—where you will generate most of your lifetime wealth. Maximize the best investment you ever made with high-performance systems and experience Total Practice SuccessTM!
Create More Value
In uncertain times, patients are looking at every dollar
they spend. Concentrate on creating more value for your patients. Improve your customer service. Strive to exceed expectations during every patient interaction. Make sure your reception area is attractive, clean and well-maintained. Provide amenities, such as coffee and tea. It’s amazing the effect that these seemingly little things can have on the patient experience.
Get the Message Out.
Continue marketing, or start marketing if you haven’t already! Businesses that “survive and thrive” through challenging economic times are those that commit to consistent marketing as a necessary investment. When the economy strengthens, these are the businesses that lead their competition in brand and market share.
4 Get Paid for What You Do.
A down economy means patients have less spending power. Many patients may fall behind in their payment plans, if accounts receivable aren’t monitored closely. Efficient patient finance and collection systems are critical to practice profitability. Use a brochure educating patients about the benefits of insurance. Implement scripts that clearly articulate patient responsibilities and payment options. Collect fees and co-payments at time of service. To prevent collection problems, take credit card information and charge balances.
5 Rethink Old Habits, Replace Outdated Systems.
Create a “why do we do it this way” checklist. Question everything. Is there a better, less expensive way to do what you do? Evaluate all operational systems, processes and protocols. Look for opportunities to increase efficiencies and reduce costs. Every step of each system should be documented. Highly successful practices depend on their systems. Financial success during hard times can only be achieved when these systems are consistently effective and efficient.
6 Examine Costs.
Eliminating unnecessary expenses will ensure your practice’s financial health. Uncontrolled overhead can have a devastating effect on a practice’s cash flow. To control overhead reduce expenses, manage costs in targeted areas and increase efficiency through effective management systems.
7 Seek Expert Advice.
Too many doctors take on unneeded responsibilities. Don’t burden yourself with extra work or delve into unfamiliar areas. Hire advisors (accountants, financial planners, etc.) who can make a difference. Your advisors are your conduit to improved methods.
8 Get Your Team Involved.
How often do patients turn down recommended treatment? Improve your team’s communication skills. Make team-based case presentation a priority. Be aware that team-based case presentation requires all team members, both clinical and administrative, to support high- quality care and reinforce the value of treatment to all patients. Explain to staff that everyone is part of the patient education process and “sales team.”
9 Stay Positive.
A positive attitude helps you turn challenges into opportunities. As the leader of your
practice, your staff will look to you for the right positive attitude. You have to lead by example. Remember, there are things you can control and things you can’t. Your attitude is one thing that is in your control. Be positive. Stay focused. And make your practice the best it can be!
10
Focus on Success.
Forget the things you can’t control. Concentrate on your successes. You know the things you do well. Build on those strengths. Stay motivated. Don’t let your attention be diverted by events beyond your control. Direct your energy where it has the most impact—patient care, team building and practice growth.
Set your goals and measure results. Goals that receive attention are more likely to be achieved.
