January 10, 2022 -- Start the year off with 10 goals for your practice. You should have three large goals, three medium goals, and three small goals. This leaves one other goal, which is known as a BHAG. A phrase coined in the 1980s, BHAG stands for "big hairy audacious goal." It's the one goal where you really stretch hard to try to reach it. Even if you don't achieve all of your goals, you will be better off for having pursued them and moved in the right direction.
Focus on production. One goal should focus on production because it is the single most important statistic in any practice. If production is growing, practices are usually healthy. They may be chaotic, but they tend to be healthy.
Don't forget to track performance numbers. Select 10 to 12 statistics that are most relevant to the growth and success of your practice, such as production, case acceptance, and collections. Begin tracking these numbers daily, weekly, and monthly so you can judge progress toward your goals and, if needed, take corrective action in a timely way.
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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