When it comes to dental practice management, does it ever feel like other owners know something you don’t? Does it seem like some doctors are privy to secret information, kept under lock and key? Why is it that so many dental offices thrive while others barely get by?
There are several ways to foster a profitable practice. Jennifer Pearce of Prosperity Dental Solutions explores five of the most crucial elements of successful dental practice management. Jennifer has been in dental practice management for 24 years – 18 as a Practice Administrator and four as a practice co-owner. She can help you sharpen your focus and hone your skills for a more enjoyable work-life balance as well as a more fruitful bottom line.
#1: Figure out exactly what you want.
Virtually every client I’ve worked with has said the same thing: “I want to grow my practice and be more successful in my career.” While this is an admirable goal, it’s somewhat broad. To fully understand what you want, you need to actively think about the specific changes necessary to achieve this. As the practice owner, you steer the ship. This means building a practice that’s harmonious with your philosophies and vision, both in and out of the office. To do this, you have to ask yourself hard questions and answer them honestly:
- Are you willing to change the way you present treatment?
- Can you truly “let go” and trust your team to run your practice?
- How hard do you want to work to build the practice you want?
- Are you willing to terminate toxic team members when necessary?
- Are you open to learning better leadership skills?
#2: Update your case presentation style.
Not so many years ago, patients fully depended on the dentist to determine the necessary treatment. It was common to hear, “I’m good with whatever you think I need.” Today, things are changing. Patients are becoming an integral part of the treatment planning process.
If you want to hear patients say “yes” to treatment, then you need to understand the psychology behind this decision. Education is important, but so is an emotional connection. When you find the proper balance, you’ll see a dramatic increase in patient acceptance rates.
#3: Optimize your hygiene department.
Ideally, your hygienist should be generating about 30 percent of your revenue. Furthermore, your hygiene department shouldn’t be booked out for more than two weeks or so. To address these issues, consider adding another hygienist, a hygiene assistant, or placing your hygienist on commission. These are all creative ways to ensure your hygiene department continues to be an asset.
#4: Make consumerism work for you, not against you.
Whether you like the idea of consumerism or not, it’s king – even when it comes to dentistry. If a new patient calls to make an appointment but finds that your schedule is booked out for several weeks, he or she will call another office that will accommodate their needs. If this happens over and over again, it’s referred to as a capacity blockage. Oftentimes, you may have to spend money to address these blockages; but it will pay for itself handsomely over time. Don’t be afraid to make big changes when it’s necessary for your long-term profitability.
#5: Harness the power of a team-driven practice.
When you hire quality employees, you can shift the day-to-day responsibilities onto them. This way, you can focus on dentistry and patient care. Maintain high office morale with frequent team-building activities, bonus systems, and other incentives – and watch your practice thrive!
Watch your practice growth explode. Call us today.
There is no secret to effective dental practice management. What’s right for you will depend on your unique vision. Our team can help you build a model based on your goals and philosophies. For expert help from Jennifer and her team, call Prosperity Dental Solutions at 817-975-4576 or email us at [email protected].
