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You Must Make A Profit

By | Business Coach, Customer Service, Dental Coach, Dental Consultant, Dental Practice, Dental Practice Efficiency, Human Resources, Staff Training, UPE Blog, World Class Service | No Comments

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One of the things that surprises me when I talk to dental practice business owners is how little emphasis they put on profit.

Most of the time I find their core beliefs are based on being busy.

And gross.

Most dental owners believe that if there’s plenty of gross coming in to the dental practice then at the end of the day, the end of the month, the end of the year, there’s bound to be some net around somewhere.

This is not a good plan.

I’ve heard dentists and insurance fund owners say this about the low fees paid to dentists for certain items:

“Oh, don’t worry about the low fees, you’ll make it up in volume.”

Which is a total fabrication.

Because if there’s no profit, or worse still, a loss being made by the business on a procedure, then doing more of those procedures will only multiply those deficiencies.

One times zero is zero.

And one hundred times zero is still zero.

And one times minus ten is minus ten.

While one hundred times minus ten is minus one thousand.

Do you get the picture?

Don’t be tricked into doing procedures just for the sake of doing them.

One of my clients in the USA worked out that the fees being paid to her by the government for some dental procedures were less than what she was spending on staff and laboratory costs in delivering those procedures.

When she started sifting out these loss-making procedures, she soon worked out that she was better off not accepting any government “plans” at all.

End result?

She removed her dental office from those plans, sacked over 1500 patients, and her annual collections went up by over $220,000.00, or 20.56%.

Because she now had freed up a whole pile more available time to be seeing patients who valued what she could do for them and were willing to pay her to do so.

Another dentist I knew removed his dental office from an insurance company plan, and in so doing his collections for the year dropped forty percent.

Forty percent?

That’s a big hit!!

But guess what?

What he found was that his net profit for that same year rose by twenty percent!

What this means was that he was subsidising the procedures being performed on those patients with THAT company’s insurance, without really realising that this was the case.

In both these cases, these dental offices saw less patients as a result of this rationalization, and yet their bottom lines grew significantly!!

shutterstock_90664045Thirdly, I’ve seen dental offices where there are multiple treatment rooms and multiple associate dentists employed.

And in a lot of these cases, the practice owners ARE NOT making a profit and are indeed making a loss because the associate dentists are under-diagnosing, under-presenting and under-treating their patients, and too slow, while they take up valuable practice resources of staff, staff time, and equipment.

These offices would be far better off if they removed these slow-speed associate dentists and went back to simply treating patients, as opposed to window-dressing their practices with multiple associate dentist brass plates.

I once had an associate new-graduate dentist who I employed and mentored in my dental office for twelve months. Each week I would meet with her for one hour to discuss her patients.

What I worked out was that the revenue that my practice was keeping as a result of her being there was less than the revenue I would have collected if I had simply seen patients myself during that hour that I spent mentoring this dentist.

I really needed to give myself an uppercut….

What does this all mean?

At the end of the day, when the banks come knocking on your door wanting their money back, your historical stories of compassion and mentoring will mean “not much” as they toss you out of your home and lock you out of your under-performing dental office..

And that’s the harsh reality.

Coupled with this, as you push your shopping trolley of your soiled worldly possessions away towards the nearest underpass where you can shelter, be sure to make sure you keep count of all of those patients who you gave discounts to over the years, who come forward to offer you financial support during these times….

I’ll bet there won’t be many…

*****

Have you read my book , How To Build The Dental Practice of Your Dreams [Without Killing Yourself!] In Less Than Sixty Days.

You can order your copy here: Click Link To Order

*****

The Ultimate Patient Experience is a simple to build complete Customer Service system in itself that I developed that allowed me to create an extraordinary dental office in an ordinary Sydney suburb. If you’d like to know more, ask me about my free special report.

Email me at [email protected]

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The Four Things We Must Achieve When Providing World Class Customer Service In Our Dental Practices.

By | Business Coach, Customer Service, Dental Coach, Dental Consultant, Dental Practice, Dental Practice Efficiency, Human Resources, Staff Training, UPE Blog, World Class Service | No Comments

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In the process of providing World Class Customer Service in our Dental Practice, our goal should always be to achieve as many of these following four outcomes as possible for our patients.

If we fail to achieve one or more of these outcomes, then we create an opportunity for our patient to feel underwhelmed with our lack of attention towards them. 

And that is a negative result for our dental practice.

New patients are expensive to acquire and are also expensive when we fail to keep them after attracting them.

You see, the lost patient has cost the practice money in advertising to attract them, as well as lost time in processing their making of the appointment along with their keeping of the appointment. On top of this, there is also the lost effort spent getting familiar with the new patient, getting to know them, as well as making them feel relaxed and at ease with our dental office.

Make the client feel welcome.

A new patient is a first time visitor to our dental office.

The feeling that we are trying to impart upon the new patient is the feeling of “home”.

“Welcome”

We want the patient to feel as if they have been welcomed into the home of their best friend.

Mi Casa Su Casa.

My House Is Your House.

The patient should be made to feel as if we have been waiting all day just for them, and that we have SO been looking forward to their visit.

The new patient should never be made to feel as if they are an intrusion.

Make the client feel comfortable.

The offering of creature comforts that allow the new patient to feel “at home” is so important.

We don’t want the patient to feel as if they are waiting on “Death Row”.

Do we have the ability to offer the new patient a beverage? 

Can we offer them a pillow, or a blanket?

Or a book or a magazine?

Or are we able to simply sit down beside them and have a good old chat with them and take their mind off their upcoming dental treatment?

Make the client feel important.

Our goal should be to make the client feel as if we have been waiting on their visit all day, and that we have been so looking forward to meeting them.

Our aim is to make the new patient feel as if they are the only person that we have wanted to see all day.

Our aim is to have the new patient feel that they are the only patient at our dental office during their visit, and that we have all the time in the world to spend with them, and they have our undivided attention. 

Make the client feel understood.

All that anybody really wants is for someone to listen to them and to understand their situation.

And it may not be all about their dental situation.

They may simply want somebody to understand how they are feeling.

And that could be how they are feeling about events not related to their visit.

“How’s your week been?”

“Have you been well?”

How’s your daughter getting on?”

It is said that small children spell the word “LOVE” as T.I.M.E..

And amazingly, adults will spell it exactly the same way.

Take the time to understand each of your patients.

You’ll certainly be rewarded for “spending the time” to do so.

People do business with people they like.

If you and your team make the effort to implement the necessary systems that enable your office to consistently exceed the client’s expectations and make them feel welcome, comfortable, important, and understood, you will keep more new patients.

Your success will be guaranteed.

*****

Have you read my book , How To Build The Dental Practice of Your Dreams [Without Killing Yourself!] In Less Than Sixty Days.

You can order your copy here: Click Link To Order

*****

The Ultimate Patient Experience is a simple to build complete Customer Service system in itself that I developed that allowed me to create an extraordinary dental office in an ordinary Sydney suburb. If you’d like to know more, ask me about my free special report.

Email me at [email protected]

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Are You Counting Or Guessing Your Dental Practice Numbers?

By | Business Coach, Customer Service, Dental Coach, Dental Consultant, Dental Practice, Dental Practice Efficiency, Human Resources, Staff Training, UPE Blog, World Class Service | No Comments

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I have a dentist client who is right on top of her numbers.

She knows them all.

On a daily basis.

She has her finger on the pulse…

On the pulse of her business.

shutterstock_192696308Each day she knows how her business is going compared to last year at that same date…on a Year-To-Date basis, as well as on a comparison on a day-by-day basis monthly, compared to the same month last year as well as to the previous month just gone.

She knows exactly how things are going and where things are at in her business.

She’s on top of her New Patient numbers and her Google Review numbers on the exact same comparisons….

Does this sound like you?

I’m betting it doesn’t.

Not many dentists are abreast of their numbers.

“The numbers are what they are”

“I think we had a good month”

I think we’re doing about what we did at this point last year”

For a lot of dentists, their practices are built on hope.

And hope is not a good business strategy.

You cannot hope for better numbers.

You need to WORK for better numbers.

If you do not know EXACTLY what your numbers are EXACTLY, then how can you ever be able to improve on your position?

It’s like travel…. how can you ever work out your best route of travel if you do not know exactly where you are starting from?

But so many dentists just WISH for things to get better.

I know another dentist who has achieved a very lofty monthly production goal twice in the past five months, and has been very proud of the fact.

But for the other three months, the practice productions have been, let’s say, “inconsistent”.

And I’m more interested in the different reasons that underlie this inconsistency, and fixing those reasons, so that the practice performs with consistent predictable regularity.

Because, while it’s alright to be celebrating your wins, what’s not alright is to be scratching around trying to make ends meet on other occasions.

I’ve lived in both unpredictable and predictable times, and having a consistent, predictable business is much less stressful during those unpredictable times.

You CAN have a predictable business with a predictable income.

The choice is very simple.

And easy to achieve.

And heck, if I can do it, then you surely can do it too….

*****

Have you read my book , How To Build The Dental Practice of Your Dreams [Without Killing Yourself!] In Less Than Sixty Days.

You can order your copy here: Click Link To Order

*****

The Ultimate Patient Experience is a simple to build complete Customer Service system in itself that I developed that allowed me to create an extraordinary dental office in an ordinary Sydney suburb. If you’d like to know more, ask me about my free special report.

Email me at [email protected]

Did you like this blog article? If you did then hit the share buttons below and share it with your friends and colleagues. Share it via email, Facebook and twitter!!

Are You Respecting Your Patient’s Time?

By | Business Coach, Customer Service, Dental Coach, Dental Consultant, Dental Practice, Dental Practice Efficiency, Human Resources, Staff Training, UPE Blog, World Class Service | No Comments

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I was on a call today with a coaching client. It was interesting because the client had asked me whether I could begin the call fifteen minutes earlier than scheduled because the patient that was due for their appointment at the time we were scheduled to end the call was a patient who invariably ALWAYS arrived earlier than her appointment time.

And my client, the dentist, always liked to see this lady earlier than her allotted time if that was ever possible.

And that is a good frame of mind to work in.

And I congratulated him for doing so….

Because you see, if you want your patients to arrive early for their appointments, you need to run to schedule or ahead of schedule.

Because the converse is also true.

Recently I worked with a dental office where the dentist was always running behind schedule.

ALWAYS.

All day….

And guess what?

His patients were so used to him keeping them waiting that most of the patients I saw there never arrived early for their appointments.

And sometimes even arrived late.

Because, as they said, the dentist was never on time and never kept to time….

It’s about mutual respect.

If you want your customers to respect your time you need to respect their time.

shutterstock_151591187A good friend of mine says his father always said:

“If you’re not fifteen minutes early, you’re late”

And to me that makes a heck of a lot of sense.

If you want someone to respect your time you need to begin by respecting them and their time.

You do need to lead by example.

We have a local medico GP where I live who runs so late with his patients and their appointments that the office advises them to phone ahead and check to see “how late” he’s running, and whether they are able to delay their arrival at his rooms.

That’s not a good look….

And that’s not a great way to provide a world class experience for your paying customers.

Don’t run late.

Don’t be known for running late.

Because if you do, you’re immediately coming from a position of “negative” in the relationship you’re trying to establish with your clients.

Why begin by putting yourself on the back foot?

Better to be early….

*****

Have you read my book , How To Build The Dental Practice of Your Dreams [Without Killing Yourself!] In Less Than Sixty Days.

You can order your copy here: Click Link To Order

*****

The Ultimate Patient Experience is a simple to build complete Customer Service system in itself that I developed that allowed me to create an extraordinary dental office in an ordinary Sydney suburb. If you’d like to know more, ask me about my free special report.

Email me at [email protected]

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