There are many pathways to success, and you must be intentional about finding your own way. As always, your top priority is offering excellent clinical care, but you must also pay attention to the business side of things.
Know your numbers. Numbers tell a story, and practice leaders should use real numbers frequently to determine micro and macro progress. Numbers that should absolutely be tracked include production, revenue, number of new patients, doctor production per hour, hygiene production per hour (if you have hygiene), and insurance breakdowns.
Don't forget to pay attention to current patients. Many dentists focus on getting new patients, and while that aspect is critically important, they tend to focus less on keeping the patients they already have. The average practice loses 15% of its patients each year, which means that it must replace that number to tread water. It therefore makes good sense to try your best to keep your current patients.
Dr. Roger P. Levin is CEO of Levin Group, a leading practice management and marketing consulting firm. To contact him or to join the 40,000 dental professionals who receive his Practice Production Tip of the Day, visit LevinGroup.com or email email@example.com.
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