You might be wondering what on earth I could possibly say that is so different from everything else and everyone else “out there.” Well let’s find out.
There are two myths standing in your way when it comes to being more profitable.
First, the answer is hardly ever MORE. When you go looking to add something else to “fix” your problems, you just end up with more problems.
It’s great to find enhancements or improvements to supplement your already-successful systems but you will never find any-one-thing that will solve the perplexing profit puzzle.
You can add all of the technology or procedures, you can add insurance or networks, you can add more patients or clinical hours.
Yet, it still comes down to fundamentals… if you don’t diagnose comprehensively, no piece of technology or added procedure is going to change that.
If your patient education and engagement is lack-luster, patients will still rely on bare-minimum insurance coverage for health decisions.
If you aren’t profitable (to your level of satisfaction), with the patients you have and the hours you work now, why would increasing those variables change the outcome?
Most practice owners are putting duct-tape on foundation cracks. Sure, you can cover them up but it doesn’t repair the problem.
They think the answers are “more stuff” instead of being more consistent, more thorough, and more focused.
I hear the excuse, “We don’t have time for…” – all of the time. Yet, their solutions are always adding more and more stuff to the list that takes up time you don’t have… then wonder why it only gets worse and more frustrating.
When you make room for treatment, opportunity, and profit, you’ll need a lot less of everything else that fills up your life and distracts to your attention.
The second profit myth, which couldn’t be better news for you, is that you don’t have be like every other dental practice.
If you are looking around trying to decide who to emulate, you’ll never find a viable answer. You will be forced to decide between long hours or balanced life; more patients or less income; added risk or no growth; all the insurance or losing patients – because those are the decisions most other doctors allow themselves to make.
You don’t have to choose either-or, but you do however have to choose… a direction, a plan, a Practice Business Structure that fits you, your philosophy, and your life – no one else’s.
So many doctors stay stuck because they are afraid they’ll make the wrong choice so they make no choice at all. “I’ll just stay right here,” they think to themselves.
The reality is, you don’t have to choose, you don’t have to sacrifice one thing in order to get another. It’s all a matter of changing expectations and shifting your focus to a more profitable practice approach.
Now, why are these two myths such a mainstay within the industry? I’ll tell you.
The industry likes consistent, predictable, and identical. They are focusing on more of the same. That makes it easier to stamp out doctors in dental school to fill market demand.
The more you are like the practice down the street, the easier it is to sell technology, to group you together, to standardized the education, to add new procedures. It’s a one-size-fits-all approach when a one-size-fails-most reality.
No technology, no PPO, no training, no procedure, no anything is ever going to be the holy grail that makes all the difference for you – and every other doctor.
You can adopt anything that interests you and you find merit in. These can all be a piece to your practice puzzle. Yet, I can show you example after example that not a single one of those things are the commonality of successful doctors and practices.
Some have all the technology, while others have next to nothing. Many do have PPO’s but more are going back to fee for service. There are successful practices using insurance as a tool. Some do same day crowns or implants or sleep – yet not all.
You name anything and there are successful practices doing it – and successful practices who never even consider it. The same can be said for struggling practices as well.
So, what is common among the most successful practices? They apply their unique vision to proven practice fundamentals that allow them to operate unencumbered by the status quo.
This is what’s so amazing about dentistry. It is what makes none of the other things matter at all, not in the least.
You show me a practice that truly puts relationships first, that educates patients for complete health, is passionate about their mission, and shares what is possible with every patient – and whether they have everything in their practice or next to nothing at all – I’ll show you a practice that is doing more dentistry than they have time or space or people to do it.
The secret… create leverage by having a more profitable model that allows you do operate on your own terms.
When you do it right, all the things you have already bought and invested in –whether technology, procedures, education, tools or systems – can be incredible enhancements. As long as they are added to a solid foundation.
When you study this week’s Report, think deeply about where you are at in your practice and question everything you ever thought would be “the thing” that would make all the difference. While it might have helped, it always falls short of your expectation. The reason is because you have to go even deeper below the surface of the activities of your practice to the core of the foundation and the actual model of business itself in order to figure out where your greatest breakthroughs lie.
Over the next few weeks, I’m going to be walking you through the greatest formula for profitability that delivers the most reliable, consistent, stable, predictable, and balanced practice business model derived from all of my experience packaged up into one.
Once we align the formula of success in your practice, you can change in and out of the variables all you want.
What else is the point of owning your own independent practice if it isn’t to get it working for you, on your terms; instead of being at the mercy of everything else and settling for whatever money is left over at the end of the month.
You can have a more profitable practice, it just requires your willingness to do it differently than just about everyone else!
I’m going to show you precisely how in the weeks to come. Stay tuned.
