21 Dec Several things you can do to advance your practice and grow revenue in 2019
Posted at 13:50h in Everything Dental Blog
- Third party financing training (Care Credit and other patient financing tools) *These tools increase daily production numbers and accommodate patients who need/want dentistry
- Practice Management software training *It’s not just a calendar and billing software.
- Phone training * I have offices that put the answering machine on and don’t answer every call. I have offices that don’t answer the phone during lunch? *Research shows that most offices lose a minimum of 20% of new patient inquiries because of bad phone etiquette
- Get your annual practice analysis – HSPA (It provides you with a new fee schedule and business analytics) *The average office gets a road map for over $100K in opportunities!
- Audit operatory equipment *Schedule a preventive maintenance call so you minimize down time and emergency service issues in the new year!
- Audit IT and telecommunication equipment *Your phone system is a tool to communicate, monitor and increase business activity. Investigate [Voice over IP phone systems]. Assess software, hardware and your technology integration with your provider
- Negotiate a better rate for credit card processing (You should do this every year)
- Create personal and professional goals
Here is an example of personal goals:
- Exercise everyday
- Go out with your spouse, significant other or friends at least once a week
- Take two + vacations a year (go away / go unplugged) Re-charge your batteries!
- Prioritize time with your financial planner and accountant
- Increase your 401K contribution and retirement portfolio investment
Here is an example of professional goals:
- Update or invest in a new website
- Increase new patient acquisition practices *Determine your tolerance for new patient acquisition costs? Pay per click, direct mail, TV, radio, social media engagement?
- Join a clinical & practice management study club (grow your case acceptance and you’re your hourly production numbers)
- Hire a practice management consultant and grow your business by 30% this year!
- Cut down or add Saturday and evening office hours depending on your plan
- Create a monthly training program for clinical and administrative development
- Add innovative technology to your offices armamentarium (CBCT / CadCam)
- Increase your hygiene production by adding days or another hygienist
- Hire an associate
- Open another dental office
- Work on your exit strategy
HAPPY NEW YEAR!