{"id":2346,"date":"2023-03-03T06:30:00","date_gmt":"2023-03-03T06:30:00","guid":{"rendered":"https:\/\/dentalsuccesstoday.com\/blog\/?p=2346"},"modified":"2023-03-03T16:24:54","modified_gmt":"2023-03-03T16:24:54","slug":"the-dental-practice-advantages-afforded-by-profitability","status":"publish","type":"post","link":"https:\/\/dentalsuccesstoday.com\/blog\/the-dental-practice-advantages-afforded-by-profitability\/","title":{"rendered":"The Dental Practice Advantages Afforded by Profitability"},"content":{"rendered":"\n<p>Last week, I presented a deep dive into how to dramatically increase the profitability of your private practice. It was not just about the POWER OF PROFIT it was about giving you the ability to actually create more profitability in the first place&#8230;<\/p>\n\n\n\n<p class=\"has-text-align-center has-large-font-size\"><strong>\u201cIncreasing Private<\/strong><br><strong>Dental Practice Profits\u201d<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><strong>Practice Success Whiteboard Session with Scott J Manning, MBA<\/strong><br><br><em>How to Become a Better, More Successful Business Owner,<\/em><br><em>By Engineering Your Practice for Maximum Profitability,<\/em><br><em>While Minimizing Waste and Unnecessary Overhead.<\/em><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/dentalsuccesstoday.com\/whiteboard-session\/confirmation.php\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Watch the On-Demand Replay<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>When you own the literal keys to your practice (that unlocks the door), you also own the figurative keys to its profitability (that unlocks so much more). That is a powerful concept in and of itself. You have the ability to write your own paycheck.<\/p>\n\n\n\n<p>No matter what type of practice you have today, the model you operate within, the dynamic of your insurance, your geographic location, your scope of procedures, or any other type of variable \u2013 armed with the right information, taking action on the knowledge I give you, and executing my three-part structure \u2013 you can determine your own profitability.<\/p>\n\n\n\n<p>I started by covering the three mindset shifts that must occur first, then five myths flipped upside down, how to put your practice into proper alignment, ways to create greater flow of prosperity, and ending with the three fundamental decisions you must make to create the formulaic profit plan for you. You can see it all here in my unique fast paced action-packed Whiteboard Session.<\/p>\n\n\n\n<p><strong>Today, I want to carry over from that session and talk about three of the greatest advantages more PROFIT will provide for your practice.<\/strong><\/p>\n\n\n\n<p>First, is an elevated and all-in patient experience.<\/p>\n\n\n\n<p>It\u2019s about freeing yourself from the feeling of desperation, no longer making decisions out of fear, and never having to rush through trying to achieve increased volume. Instead, when you come from a position of predictable profit, you get to make your patient experience whatever you want it to be.<\/p>\n\n\n\n<p>Ask yourself: if you could change anything about your patient experience what would it be? If you could wave a magic wand and do something differently, what would you change?<\/p>\n\n\n\n<p>Here\u2019s why this matters. Because you don\u2019t wait to be more profitable to start making these improvements. You do them now.<\/p>\n\n\n\n<p>You slow down the experience. You provide more education, more surprises, more extras in order to build more trust.<\/p>\n\n\n\n<p>And then you become more profitable.<\/p>\n\n\n\n<p>Sometimes it\u2019s as simple as taking new x-rays even if insurance doesn\u2019t cover them. Or taking pictures or scans or even a CBCT scan. Of course, I prefer the patient invest in wax ups or models and the like, no different than they would pay to get their bite in the right position.<\/p>\n\n\n\n<p>My point is, if there is something that helps make the experience better, helps bring the vision to life for the patient, helps build the case \u2013 then do it. Stop stepping over dollars to pick up pennies that gets in the way of doing what matters.<\/p>\n\n\n\n<p>Sometimes, it\u2019s not money it\u2019s time or it\u2019s tasks or it\u2019s team or it\u2019s a thousand other distractions that take focus away from what matters most.<\/p>\n\n\n\n<p>When you are more profitable, you can reinvest in your patients, your team, your experience.<\/p>\n\n\n\n<p>Just don\u2019t get confused about the chicken and the egg here \u2013 you do it and then become more profitable. You don\u2019t wait to become more profitable in order to then do these enhancements.<\/p>\n\n\n\n<p>Simple lesson: go all-in all the time and you will be amazed how much pent up demand and value there is to cultivate and profit from in your practice.<\/p>\n\n\n\n<p>The second advantage ties right into this\u2026 the power of supply-and-demand. A more profitable practice gives you the ability to elevate the terms by which you operate, your rules of engagement if you will.<\/p>\n\n\n\n<p>Greater profitability means fewer patients are needed. You can choose to get rid of more insurance because you aren\u2019t dependent on maximum volume. You can add deposits to first time visits or do comprehensive exams without cleanings.<\/p>\n\n\n\n<p>For our Specialists you can elevate the quality of your referrals, you can add more screening to who gets in for appointments and the list goes on.<\/p>\n\n\n\n<p>Profit gives you power and power puts demand in your favor.<\/p>\n\n\n\n<p>What would you do if you knew you had exactly the right demand? If you operated in a perfect environment where every patient complied and did exactly what you want, what would that look like for you?<\/p>\n\n\n\n<p>This is how I get my doctors to dream about their ideal hours and weekly schedule, taking more weeks out of the office for life, raising their fees, presenting state of ideal dentistry every time to every patient.<\/p>\n\n\n\n<p>Because the fact is anything is possible with the right system, structure, and experience in place.<\/p>\n\n\n\n<p>And a funny thing happens when you have the power of demand, those that wouldn\u2019t before all the sudden will. You see resistance from others fade to nothing as soon as you remove resistance from yourself.<\/p>\n\n\n\n<p>It all results from you having filled your practice up with people who want to be there because they can believe your conviction, trust your confidence, and value your dentistry.<\/p>\n\n\n\n<p>We\u2019ll attack this resistance head on and hit the profit advantage #3 next week.<\/p>\n\n\n\n<p>Here\u2019s the thing, until you decide that you are worthy and you choose to willingly commit to doing all the things that more profit \u2018affords\u2019 you to do \u2013 first (before you think you are ready or are waiting for some person\u2019s permission or your CPA tells you it\u2019s okay), you will forever be in your own way.<\/p>\n\n\n\n<p>All in all, people may say it\u2019s not about the money but then again it doesn\u2019t have to be about the money to be about the money. Money doesn\u2019t have to be the point or the purpose to be important and necessary to be able to make your practice, your dentistry, your impact on patients\u2019 lives as incredible as it can possibly be.<\/p>\n\n\n\n<p>This is because of the greatest power profit gives you and that is the ultimate peace of mind to enjoy your life, practice on your own terms, and hold nothing back from.<\/p>\n\n\n\n<p>If that\u2019s not reason enough to study my Whiteboard Session carefully and work on reverse engineering your profit power, I don\u2019t know what is.<\/p>\n\n\n\n<p>I\u2019ll see you next week as we continue this discussion. Until then, keep proudly fulfilling your purpose, living your passion, and earning your profits.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><em><strong>Practice Success Whiteboard Session with Scott J Manning, MBA<\/strong><\/em><\/p>\n\n\n\n<p class=\"has-text-align-center has-large-font-size\"><strong>\u201cIncreasing Private<\/strong><br><strong>Dental Practice Profits\u201d<\/strong><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"579\" src=\"https:\/\/dentalsuccesstoday.com\/blog\/wp-content\/uploads\/2023\/03\/2023-03-03-Blog-1024x579.png\" alt=\"\" class=\"wp-image-2347\" srcset=\"https:\/\/dentalsuccesstoday.com\/blog\/wp-content\/uploads\/2023\/03\/2023-03-03-Blog-1024x579.png 1024w, https:\/\/dentalsuccesstoday.com\/blog\/wp-content\/uploads\/2023\/03\/2023-03-03-Blog-300x170.png 300w, https:\/\/dentalsuccesstoday.com\/blog\/wp-content\/uploads\/2023\/03\/2023-03-03-Blog-768x434.png 768w, https:\/\/dentalsuccesstoday.com\/blog\/wp-content\/uploads\/2023\/03\/2023-03-03-Blog.png 1334w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/dentalsuccesstoday.com\/whiteboard-session\/confirmation.php\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Watch the Replay Now<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Last week, I presented a deep dive into how to dramatically increase the profitability of your private practice. It was not just about the POWER OF PROFIT it was about giving you the ability to actually create more profitability in the first place&#8230; \u201cIncreasing PrivateDental Practice Profits\u201d Practice Success Whiteboard Session with Scott J Manning,&#8230;  <a href=\"https:\/\/dentalsuccesstoday.com\/blog\/the-dental-practice-advantages-afforded-by-profitability\/\" title=\"Read The Dental Practice Advantages Afforded by Profitability\">Read more &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2346","post","type-post","status-publish","format-standard","hentry","category-dental-success"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Dental Practice Advantages Afforded by Profitability<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dentalsuccesstoday.com\/blog\/the-dental-practice-advantages-afforded-by-profitability\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Dental Practice Advantages Afforded by Profitability\" \/>\n<meta property=\"og:description\" content=\"Last week, I presented a deep dive into how to dramatically increase the profitability of your private practice. It was not just about the POWER OF PROFIT it was about giving you the ability to actually create more profitability in the first place&#8230; \u201cIncreasing PrivateDental Practice Profits\u201d Practice Success Whiteboard Session with Scott J Manning,... 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