Welcome back to Coaches Corner! We are happy to share our years of experience working with dental offices all across North America. Here is today’s question:
Q: What are the three most common things that once implemented have the greatest effect on the bottom line? What is the one simple thing you see missing most often that would make the greatest impact for a practice?
Dr. David O’Malley
A: Great question Dr. O’Malley, and so nice to hear from one of our Australian followers. Of course we did a little research and learned that Bendigo is in Victoria, Australia, not all that far from Melbourne. It was once a gold rush town and is now a bit of a financial centre. Sounds like a great place to live! It’s also home to Frank McEncroe, inventor of the Chiko Roll, whatever the heck that is.
Okay – on to your question. It’s a tough one because there are so many things that impact the bottom line, and of course, every practice is different. However, these are three things that we see in just about every practice we visit. Of course, they are simple, obvious, and rarely mastered.
1) Answering the phone every single time it rings (dental practice phones go unanswered over 40% of the time during normal business hours!) with a well-trained front desk team that knows how to get the patient off the phone and into the appointment book.
2) Analyzing and understanding dental practice overhead and taking the proper steps to reduce it.
3) Effectively mining the “Million Dollar File Cabinet” and getting those patients signed up for treatment. (The “Million Dollar File Cabinet” is our term for patients with recommended treatment that has not been appointed.)
Of course this is just the start – there are so many more things that can be improved in just about every practice!
Part two of your question is: What is the one simple thing you see missing most often that would make the greatest impact for a practice?
This may sound self-serving, but it is honest. The one simple missing thing that would have the greatest impact on dental practices is professional and effective coaching. Most dental practices are too busy cranking out dentistry and putting out fires (especially putting out fires, sometimes with gasoline!) to really see what is going on inside their own walls.
Coaching is an investment in the practice that pays off big time, but too many people are afraid to make that investment. Or, they are afraid of having an outsider come in to “shake things up.” But remember the old adage…
you’ll keep getting what you’ve already got!!
Thanks for writing in. We hope to meet you one day!
Dr. David Madow and Dr. Richard Madow are actual dentists who have been helping dental offices become more successful for over 28 years. They are down to earth, real people who personally connect with their clients and are proud to call them friends. If you have a question for this column, please write to them at email@example.com. We are now offering a complimentary 30-minute coaching session! Please CLICK HERE to schedule yours. Doctors only please.