Today’s dental economy and environment is more challenging and more competitive than ever before. Hard work, technical ability, and quality patient care no longer guarantee a healthy practice. The need to assess your current operations in regards to leadership vision and team performance, patient services you offer, revenue potential, the capacity of your facility and expense management is paramount for moving into the future.
Every dental practice is, metaphorically speaking, like an intricate puzzle with many pieces (metrics) that must fit together strategically and with careful consideration. Whether your practice is in the startup stage, has reached a plateau or is in a decline learn simple systems and solutions that drive a “thriving” dental practice.
Questions to ask include:
- Does your team morale and culture support the patient experience?
- How many active patients do you have and what is their demographic?
- How many new patients are you getting each month?
- Do your patients return on a regular basis via the hygiene department?
- What is your case acceptance and how do you increase it?
- What is the practice’s production per hour by department?
- Do you collect what you produce with low accounts receivable?
Ask yourself how you are performing in each piece of the puzzle to determine your efficiency and productivity, as well as plan for maximum value for the future.
To help get you started in the right direction, we encourage you to complete our complimentary Practice Scorecard to rank and score your key metrics that impact the practice.
Click here to complete Your Practice Score Scorecard
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With an education from Harvard Business School, Ryerson University, York University and a background in engineering and business, Firas co-founded Prep Doctors with one vision – to create an inclusive learning space for dentists from all over the globe. Overseeing the business and marketing portfolios at Prep Doctors, Firas ensures that through compassionate and meticulous business strategy, the institute puts dentists first in everything we do. Prep Doctors began as an idea between friends to help dentists get qualified to practice in Canada – with Firas’ entrepreneurial vision, the institute has become Canada’s largest private dental institute and is ever-expanding. His mission is to create as many opportunities as possible for healthcare professionals to thrive and pursue their passion in Canada.