Before we begin, be sure to save your seat for next week’s interactive virtual training session. In this unique hour with me, I’m going to reveal the keys to maximizing the Power of Private Practice. I’ll show you how to take advantage of your practice’s strongest forces to unlock your true potential and realize a more rewarding, fulfilling, and profitable future.
In keeping with our theme from last week and your power of preference, today I’m going to share three other powers that happen to be trapped inside of your practice. Each is either under-valued, under-utilized, or un-discovered. Once unleashed, they become a liberating force for Independent Dentists and Private Practice Owners.
The first is the Power of Differentiation. This is about being so obviously different from anything else, any other practice, or any ordinary doctor that you can’t be compared in the minds of prospective patients.
They become so intrigued, fascinated, and curious that they can’t help but put aside all preconceived ideas and dentistry stereotypes, giving way to an open mind ready for a new type of patient experience.
Differentiation is the opposite of being a commodity – where anyone can get what they want from anywhere and price is the only variable.
Practices fall for the commodity trap when they chase discount seekers, cut their fees, rely on large numbers of new patients, and depend on insurance-only dentistry. They are constantly replenishing patients as fast as they are losing them because they never get to comprehensive treatment. The practice becomes an emergency room for mouths.
The opposite approach (although I don’t need to tell this group) is dedicated to nurturing relationships, educating patients, cultivating referrals, and moving achieving optimal health outcomes. It’s more about the patient, than the transactional procedure. That’s a business model that holds sacred each individual patient relationship and understands their responsibility.
I will be sharing my #1 Differentiation Strategy on my Whiteboard Session happening next Friday. It will blow your mind at how simple it is and effective it can be. You don’t want to miss this all-new Power of Private Practice Whiteboard Session.
This leads to the perfect segue because the greatest advantage of a relationship-based practice is realizing the Power of Small Numbers.
And the reason is very easy to understand. With all other things being equal, the smaller the numbers – the more meaningful the relationships – the more profitable the dentistry.
When you are limited in time, people, and space, you are forced to optimize your practice to get the greatest leverage from these resources.
This means not just your time and your team but your patients and your dentistry. The Power of Small Numbers allows you elevate the three things that matter… impact on patients through dentistry, quality of life for the people providing it, and profit from the practice as a result.
It is never about the quantity of patients or ‘filling the schedule’ that determines anything – other than stress and overhead.
It is only the value of what is accomplished with your patients in the time and space that you have available. Therefore, quality and value in dentistry determine everything else.
If you want the peace of mind that comes from a practice predictably profit, then you must harness the Power of Small Numbers.
In next week’s Power of Private Practice Whiteboard Session, I’ll share the critical steps you must follow to put the Power of Small Numbers to work in your practice. It’s free, it’s live, it’s interactive, it’s must-see…
If you ignore this reality and choose to rely on a volume driven practice – you’ll be at the mercy of everyone else and powerless in pursuit of your goals.
Now, for our last Power of Private Practice I turn your attention to the how – the how you deliver dentistry, the how you fulfill your mission – your own personal practice philosophy.
Imagine giving yourself permission to design your entire practice around your vision embodying everything you stand for, everything you believe in, and everything you want to share with patients.
No more diluting your personal ideals to fit into your practice. Instead, you will mold your practice around your mission and clinical philosophy.
This should be the entire point of being in private practice. To engineer a practice around the dentistry you enjoy, the dentistry you look forward to doing, the dentistry you’ve always wanted to do but rarely get to.
And that’s exactly what it takes to arrive at that reality – deliberately engineering your practice operations (everything from the team onboard to the patient experience to external marketing) to deliver the goals you have for your patients and yourself. Finally put into alignment your purpose, passion, and profits.
It’s available to you, if you just accept the responsibility to take full control over the Powers of Private Practice. This is what allows your practice to transcend any one trend, any one insurance, any one market place condition, any one patient, any one team member, or any one anything else.
This is how you move beyond just a Private Practice to a Powerful Private Practice – with the ability to make dentistry fun, to create a culture of meaning, to deliver life changing dentistry, and to build a prosperous business.
If you are ready for a Private Practice Power Playbook then don’t miss my Whiteboard Session next week. We will spend an entire hour delving into how you can harness these strengths to create a more independent and successful future. After all, it’s these very attributes that have solidified private practice’s undeniable prominence in the past, present, and future of dentistry.