In his recent book, 43 Rules to Increase Practice Production, Dr. Roger P. Levin shares recommendations for achieving greater practice success in the new, more challenging dental economy. The following is an excerpt.
Roger P. Levin, DDS, founder and CEO of practice management consulting firm Levin Group.Before the Great Recession, nearly every dentist could have an enjoyable lifestyle with ample opportunity to save toward retirement. Doctors had enough new patients coming in the door, hygiene patients remained on the schedule, average production per new patient was high, competition was low, and doctor income could easily provide for an excellent lifestyle.
Although their practices were successful, dentists received little or no education in the areas of business, leadership, or sales. Any thought that dentists were excellent at building a practice simply because business was good is misleading. In fact, practices were successful simply because of the law of supply and demand in a time of relatively little competition.
Now, the situation has changed completely. Today, the number of new patients entering practices is down and competition is up. This situation -- too many dentists and too few patients -- represents a key reason why 75% of practices are experiencing production declines.
Consequently, practices have to do more with what they already have. Areas that practices need to pay the most attention to include the following:
43 Rules to Increase Practice Production by Dr. Roger P. Levin.- Patient retention
- Customer service
- Internal marketing
Practices have to maximize each patient opportunity today. For example, many practices don't put much thought into the new patient experience. Highly successful practices, on the other hand, know that "wowing" new patients during their first interaction is critical to retaining them for a lifetime of dental care.
Roger P. Levin, DDS, is the chairman and CEO of practice management consulting firm Levin Group. For details about what Levin Group offers, visit the firm's website or speak with a dental practice specialist at 888-973-0000.
To learn all the new rules Dr. Levin has developed, based on more than 30 years of experience consulting with dental practices, download the digital version of 43 Rules to Increase Practice Production, available for just $59.00.
The comments and observations expressed herein do not necessarily reflect the opinions of DrBicuspid.com, nor should they be construed as an endorsement or admonishment of any particular idea, vendor, or organization.
Copyright © 2016, Levin Group. Reprinted with permission.
