The Real Tragedy Of Dental Practice Ownership

I meet a lot of dentists.

I meet some dentists and I wonder what they were ever thinking in becoming dental practice owners.

Yes, really.

Because the way these dentists run their dental practices, there are no winners.

Their patients do not win.

Their staff and employees do not win.

Their practice owners and shareholders [including themselves] do not win.

In these practices, in most cases…

In most cases, the patients of these dental practices do not have their oral health treated with respect.

The patients’ mouths are under-diagnosed.

The patients don’t have comprehensive treatment presented to them.

The patients do not experience and receive total care and total oral health.

In most cases, these patients receive treatment for symptomatic reasons only.
A lot of their diagnosed treatment is watched” into the future, or the patient is told: “we’ll see how it is next time”.

In most cases…

Staff are considered an expense rather than an investment for these dental practices.

Staff are often followers and reactors, and are rarely delegated roles of support and leadership.

Team are rarely incentivised nor rewarded on practice performances and results. And yet in these practices, results are expected to simply just “naturally occur”?

In most cases…

In most cases, these dental businesses simply trundle along in second gear.

In most cases, the results these businesses achieve are discussed retrospectively. At the end of the financial year. After each quarter. At the end of each week, and each month.

In most cases, profit is minimal, and is not maximised.

In most cases, the owners receive a financial benefit of only slightly more than a paid job, and not nearly as much as they could be, and should be receiving.

It seems pointless…

It seems pointless to be the owner of an underutilised and underperforming facility for the sake of only a few dollars more return than having a job, that has no risks, no headaches, and shorter hours than are involved in owning a dental practice.

It’s like owning a Mustang, but only ever driving it at 30kph to the corner shop three times a week. [A bicycle would be far less expensive to own]

A well run dental practice should…

A well run dental practice should allow the patients of that practice to have and enjoy a truly 100% healthy dental environment.

A well run dental practice should be a breeding ground for team members to develop a love for a career in dentistry, and all of the options and pathways that a career in dentistry has to offer.

A well run dental practice should be a solid investment providing a healthy return to the owners for their capital investment, and for the investment of their time and toil into their facility.

And they all have the ability to do so…

All that dental business owners simply need to have is a helping hand as guidance to truly get the best out of the asset that they have right there in palm of their hand.

Because when these owners fail to truly realise that asset?

That’s the real tragedy of dental practice ownership.

It’s a tragedy for the owners [as shareholders].

It’s a tragedy for the lost opportunities of employment advancement for the team members that work there.

And it’s a tragedy because the patients of these practices do not receive the opportunities of having complete comprehensive dental treatment presented to them as being in their best interests for their own health and well-being.

Is the system failing the profession?

Dental students are graduating with clinical skills, but not with any business skills sufficient to run and survive for forty years.

Dental school is not preparing their graduates with the necessary skills and a blueprint moving forwards for successful business ownership.

Have you noticed that leadership, people management, and front office phone training are not taught in dental school?

Successful dental practices have:

  • Great systems and protocols
  • Great leadership
  • Good people management
  • Their dental office phones are managed exceptionally
  • World Class Customer Service Systems
  • Great time management

These subjects are not taught at dental school.

Nor is a dental school graduate armed with a roadmap of the timeline and situations and need that they will encounter along their dental practice ownership journey.

Dental graduates leave university so underprepared for the different phases of their next forty years as dental practice owners.

It’s no wonder that 95% of them slip into the land of mediocrity when running their dental practices.

And that’s a tragedy.

It’s a tragedy for the dentists, as owners, and their families, who live a life unfulfilled because of opportunity lost.

It’s a tragedy for the staff employed in those underperforming practices, because these staff never get to experience the true emotional fulfilment that a fulfilling and satisfying career in dentistry can provide.

And it’s a tragedy for the people who become patients of those dental practices, because often those dentists who own and run those practices are not always providing best care and best treatment for their patients….

The good news is…

The good news is that the missing pieces of dental business ownership can be sourced after graduation, by engaging with qualified coaches and consultants who have “been there and done that” and owned and run successful dental practices, and have successfully taught others how to own and run their own successful dental practices.

Good help is around.

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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 david@theupe.com