Overhead will eventually stabilize, but it will do so at a higher level. Increasing practice production helps any practice offset higher overhead and increase practice profitability.
Increase efficiency to save 10 minutes per hour. Almost all practices can save 10 minutes an hour through higher efficiency and better practice systems. By saving 10 minutes per hour, the practice will add the equivalent of two months of doctor production time every year. The overall effect would be six extra years of doctor production time in a 36-year career.
Don’t forget to schedule all new patients within seven to 10 days. New patients have a two to three times higher financial value than current active patients. Due to this financial differential, the sooner new patients are scheduled, the faster the practice will experience increased production. Even if you have the same number of new patients annually, scheduling them sooner will provide increased production earlier, which will then increase total practice production for the current year.
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 protected].
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