Production is the key statistic that every practice should track every single day. Production determines the success of the dental practice more than any other factor.
Dr. Roger P. Levin.
Increasing practice production is not achieved simply by working harder. There is a familiar expression that says, “Work smarter, not harder.”
To accomplish that in dentistry, it is important to know what causes production to grow and why it is critical to have practice production grow every year.
The opportunity over 40 years to observe over 30,000 dentists has allowed us to identify the factors that increase practice production, those that keep it flat, and what might cause it to decline.
Here are three principles for a better understanding of practice production.
Production does not have to grow by a lot to achieve long-term success
You do not need to skyrocket production every year or even in any given year. There’s nothing wrong with having one year of massive growth, but slow and steady growth over many years will provide the financial success most dentists desire.
If the practice can grow by a consistent amount every year, then within a few short years, that practice will be improved, and the dentist will be on track for an excellent career and financial success, which includes reaching financial independence.
You only need to do a few things right to increase production
We live in a world today of useless details. For example, we scour our weather apps to find out not only if it’s going to rain but at what exact time. As if this typically makes a difference. If it will rain, you need a raincoat or an umbrella, because we want to be prepared. There are way more details in our weather apps, most of which we don’t understand. The same could be said when it comes to practice production.
Focus on the big things when it comes to increasing production, and the details will follow.
- First, get all of your patients scheduled. Up to 50% of your patients may not be scheduled at any given time, which will cost you millions of dollars over your career.
- Second, reduce no-shows. They are most likely higher than you think, and a last-minute cancellation is a no-show.
- Identify all potential treatments. The easiest place to start is hygiene (if you have it.) Dental hygienist production should grow by 20% in the next 12 months, and it is easy, does not take more time, and does not rush the hygienist. Simply start by identifying periodontal disease. It is an epidemic. Treatment requires scaling and root planing. It is good for the patient, and it increases practice production. Catch up on your x-rays and fluoride, offer whitening, and develop a protocol for offering sealants.
- Make sure every patient knows that patient financing is available. Don’t wait until the end of a case presentation when the patient has already decided that they cannot afford treatment. Patients need to know that interest-free financing is available when they call as new patients, when they call to schedule an appointment, when they’re sitting in a hygiene chair, in your 30-day email practice update newsletter, etc.
Your team is a big part of growing production
In a time of intense staffing challenges, it is more important than ever to be a great leader and guide your team. As a leader, you really only need to do three things, including:
- Be transparent. Team members appreciate honesty and transparency from their leaders. If you’re not transparent, you will have rumors, conflict, gossip, and other debilitating behaviors. Transparency also includes being clear on the rules, policies, and protocols of the office and letting the team know what is expected. People do better when they know the rules.
- Build your team’s self-esteem and ego. Appreciation and recognition are two concepts we teach our clients to use with their team members. That’s all it takes to help people become star performers. Letting them know every day how much you care about them and appreciate them for a job well done goes a long way toward building loyalty in a team.
- Compensate the team properly. We are coming out of an era of rapid compensation increases. This is the new normal. Accept it. Even though it costs more in overhead to pay team members, a stable long-term team has a dramatic positive effect on practice production.
Practice success can actually be simple. You have to do the right things at the right time in the right way. There are a few things that will increase production and help you achieve the goal of increasing practice production every year. You don’t need to work harder to increase production every year if you simply focus on the right areas that have the largest effect on a successful practice and career.
Dr. Roger P. Levin is CEO of Levin Group, a leading practice management and marketing consulting firm. To contact him or to join the 40,000 dental professionals who receive his Practice Production Tip of the Day, visit LevinGroup.com or email [email protected].
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.
