Five Tips to Survive and Thrive During Times of Uncertainty
While many dental practices have been affected by the current pandemic, it is important to remember that things will eventually go back to “normal”.
When this occurs, being prepared for the new “normal” may mean the difference between your dental practice surviving and thriving or not.
Here are five tips to set your practice up for success.
Tip #1. Analyse your practice performance
Conducting accurate performance analysis based on actual data from your practice management system, will allow you to truly measure your practice performance instead of relying on a “gut feeling”.
You will uncover the true picture of what’s working and what isn’t in your practice as well as identifying areas that need improvement.
Tip #2. Review your processes
Now is the perfect time to review your practice processes and identify any that may be affecting your performance.
Some examples of things your practice could review include:
- Are you utilising available technology, such as contactless payment options and patient self check-ins with a kiosk and QR code scanner, to minimise human-to-human and human-to-object contact and protect your patients and staff from infection?
- Do you have an online booking system that allows current and prospective patients to book now and receive instant booking confirmation?
- Are you offering payment provider options such as Afterpay and Zip to remove possible affordability barriers to treatments?
Tip #3. Educate yourself on what best practice is
Our research working with thousands of dental practices has allowed us to ascertain best practice methodology in a number of key areas pertaining to dental practice management.
By implementing best practice, your dental practice could:
- Achieve a recall effectiveness rate of over 85%, as compared to the average practice’s recall effectiveness rate of 58%.
- Operate an appointment book that is 95% utilised, as compared to the average practice’s utilisation rate of 72%.
- Attract 18 new patients per dentist each month, as compared to the average practice which attracts 11.
Tip #4. Create a plan for implementing improvements and set targets for measuring your performance
Some examples of key metrics that dental practices should be measuring include revenue, average hourly earnings, chair-time utilisation, recall effectiveness and fail-to-attends.
The first step is to set some specific and measurable targets related to these metrics.
It’s critical that you then measure your practice’s performance regularly against these targets, so you understand what areas are performing well, as well as those which require attention.
Tip #5. Get expert advice
Book a complimentary business review with a Henry Schein One specialist and receive recommendations based on research from thousands of Henry Schein One dental practices.
Simply email firstname.lastname@example.org or call 1300 889 668 to book your review today.