10 Ways Your Systems Will Increase Your Dental Practice Profits
October 22, 2013
What grade would you give your business systems? What grade would you give your business systems?
A “C” is a passing grade but an “A” will take you a lot further in your practice sustainability.
Employees come and go and many dental practice owners tell me that they “fly by the seat of their pants.”
Do you know what the pay day looks like when all your systems are running efficiently?
As a dental practice management consultant I notice most dental practices we assess do not have effective systems. Many offices have no systems in place at all.
This article will discuss 10 ways your dental practice systems will increase your profits.
Make no mistake; good systems will increase the profits in your dental practice, as well as your personal take-home dollars!
Systems Increase Production and Lower Your Costs
Below is a list of ten ways that having effective business systems will provide a direct and measurable return on the investment of your time, effort, and financial resources.
- Effective systems generate more new and returning patients
- Good systems will elevate your customer satisfaction and loyalty (Happy patients refer friends and family and most of them will refuse to see any other dentist!)
- Effective systems improve employee efficiencies in the office
- Well-designed systems increase efficiency, productivity, as well as improve customer service
- High-quality systems minimize patient complaints
- Effective systems accelerate the turnover of accounts receivable (Faster collections, and accelerated cash flow decrease costs).
- Good systems reduce the number of employees required to get the work done (fewer employees reduce your labor costs).
- Systems enable your employees to perform above what you may think is their status-quo (employees will perform higher-level tasks, which can also lower your employee salaries).
- Effective systems require less supervision and management oversight
- Grade “A” systems mean you are more likely to have a sustainable dental practice. (Recession proof!)
Don’t Be a Skeptic!
It makes perfect sense to learn or update the art and science of your business systems. If you wish you have a sustainable dental practice I can tell you that you must spent time to develop effective business systems and processes. If you would like to get to that “Next Level” in your dental practice think about and look at your business systems. STOP blaming your lack of productivity on the economy.
Take a look at your business systems or possibly the lack of many systems you should have in place today. This can be the one missing link to increase your dental practice profits. It is one way to improve your satisfaction daily at your office.
Do not wait another day! Pick one area in your dental practice that is giving you the most pain and create a system in this area that shines—a system that pleases your patients, you and the entire team.
At Dental Practice Solutions we assess hundreds of dental offices each year and the one reason for inefficiency in the dental office that we discover is “no systems are in place.”
The cost of not having effective systems is hundreds of thousands of dollars over the next year. This costs you millions of dollars over the life-time of your practice. Wouldn’t you rather have that money in your bank account?
When was the last time you reviewed your systems? Let us know how often you update and/or review your systems.
Please let us know about the systems in your dental office below. What is lacking? How are they working today?