Improving the culture, team performance and value of your practice while remaining focused on your patient’s clinical needs.

The challenges of running a business are something every successful business owner regularly faces. The business of dentistry is no different, except most dentists, unlike other business owners and CEOs, normally don’t receive any formal training in the management or accounting components of their dental practice. Even if some kind of training has been obtained, finding time to manage a business can seem almost impossible, as in most cases, the proprietor-dentist is also the primary producer in the practice, leaving them little time to attend to the measurement and management of each team member’s responsibilities. However, with the right systems and management tools in place, the proprietor-dentist will not only improve the team performance, culture and value of their practice, they also begin seeing an increased amount of free-time and improvement in their overall quality of life. In order for your practice to

thrive, the following key questions should be considered:

  • What does the dentist and theoffice manager need to know and do in order to maintain or grow a successful practice in our new and demanding dental economy?
  • How can the proprietor-dentist, who is also, in most cases, the primary producer, find time to oversee the practice performance while maintaining clinical excellence and without sacrificing his/her production time?

Recent advancements in technology have allowed dentists to speed up treatment timelines, either through more accurate diagnosing or by providing same-day treatment for more complicated cases. These technologies have given dentists the benefit of more time – used either to generate more production or spending that time improving quality of life outside their practice. Just as the acceleration of technological advancements has improved the clinical aspects of dentistry, the impact of the business technology now available to dentists is helping them also measurably improve their practice and team performance. In many practices today, if an office manager or dentist wants to know where the practice is performing in relationship to where their practice should or could be performing, it would take hours of report consolidation, more time reviewing those reports, and finally, the necessity of expert advice to understand which areas of their practice need attention in order to experience improved results. This process, still employed by many practices, can be so painful, expensive and time-consuming that many practice owners simply avoid the task and hope for the best. In contrast, the dentist who knows where their practice is in relationship to where they want to it to be has a much better chance in successfully getting there than those who don’t know either their status or destination. For decades, large corporations have understood the value of business intelligence, sparing no expense on IT professionals to gather and store this data and then employing additional teams of analysts who identify what the data is saying about their business and what they need to do to improve performance. Now, with the advancements in cloud-based data insights, you can have access to true Practice Intelligence, – anywhere, anytime – in a visual, easy-to-understand format, and at a fraction of what it used to cost business owners to access this data. Not only does this technology allow you to see in real time the greatest areas of opportunity within your practice, but it helps you create a healthy data-driven culture in the practice, getting everyone on your team working towards the same goals. Translation? Easier management, faster business decisions, more free time and increased profits for you and your dental team.

Without an excessive amount of work or cost, implementing a system where everyone on the team
can see both their personal performance and the overall performance of the practice, on a daily basis,
is the first step to immediately improving the culture, team performance and value of your dental
practice. Just recently a dentist called our company, stating that he wanted to sell his practice and wondered if we could help him in a valuation and to find a buyer. We asked him why he wanted to sell, since he was a relatively young dentist under the age of 35. In our conversation we learned that this dentist was working far too many hours, not making the type of money he felt many of his peers were making,
and stressing over the management of his practice. He was struggling. We asked him if he enjoyed dentistry and he responded very quickly with a “yes,” but that he didn’t enjoy the business of dentistry. Sound familiar? Not being an organization that helps in practice transitions, we asked this dentist if we could connect our performance dashboard with his practice management software so that he could quickly

identify where his strengths and weaknesses were. We explained that this process is as easy as flipping on a light switch to allow him to see things previously impossible to see. Within minutes he was laughing at how fast both he and our analyst were able to pinpoint a few easy-to-resolve issues. Within four months, this dentist was able to generate and take home more profit than he’d been able to during the prior eight years of practicing dentistry. Today he’s able to spend one more day a week at home with his family and earning more money than he’d ever thought possible. For us, the most rewarding benefit was this doctor’s new confidence in himself as a dentist, which ultimately improved many aspects of his professional and personal life. Similar results have been achieved by hundreds of dentists who decided to put a system in place that would easily allow them to measure, discuss and discoverperformance opportunities with their teams. By utilizing an effective Practice Intelligence platform, you’ll have a quick, reliable way to identify areas of opportunity, collaborate together as a team, and implement solutions that are automatically tracked – providing you with real-time insights into the changes you need to make. These could be changes to how you are presenting needed treatment to patients, your accounts receivable policies, rescheduling existing patients for hygiene, marketing strategies to attract new patients or even how you handle appointment confirmations in an attempt to reduce cancellations and no-shows. Wherever the performance dashboard identifies areas of opportunity, you can be confident that once you and your team focus on that area – your performance in that area will improve. Dental practices that implement sustainable systems, visible to the entire team, and that measure and monitor the team’s day-to-day performance will have huge advantages as compared to those practices who don’t adopt such a system. These practices will enjoy better team performance, more financial success, and most importantly, will provide better care to their patients.