The first step in creating a more efficient, more profitable practice is setting targets. This is essential, because starting out with vague, simplistic goals, such as "We need to grow" or "We have to do a better job of bringing in new patients," does not drive change.
Make targets specific. Generalities don't work. Targets must be clearly defined, such as, "Have 98% of all patients scheduled at all times, or collect 99% of all money due to the practice." The objective then becomes very clear.
Don't think targets accomplish themselves. Practices must be proactive. Systems must be re-examined to see if they will help or hinder the process of hitting targets. Frequently, they will have to be replaced.
Roger P. Levin, DDS, is the chairman and CEO of practice management consulting firm Levin Group.
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