Know your profession, know your competition
A recent study by the Levin Group Data Center shows that nearly two-thirds (64.4%) of respondents reported production increases, yet stress also has increased to a record level, with more than 38% of doctors reporting high or extremely high stress. The growth indicates that your fellow practice owners are upgrading their systems and making other positive changes, while the amount of reported stress reflects the pressure they're under to make up lost ground.
Do keep up with the Dr. Joneses. How does your practice compare with the results shown in this survey? Has your practice also experienced a production increase in the last 12 months? The only way to know is to track your production daily, weekly, monthly, and annually. That's also the best method for determining whether the changes you're implementing are making a positive difference.
Don't believe that increased stress equals increased production. Working long hours and feeling exhausted doesn't mean that you're producing more dentistry. Becoming more productive almost always happens as a result of increasing efficiency, not stress.
Roger P. Levin, DDS, is the chairman and CEO of practice management consulting firm Levin Group. You can connect with Levin Group on Facebook and Twitter (@Levin_Group) to learn more strategies and share ideas. Also, check out Dr. Levin's free practice management videos at www.levingroup.com/gp.
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