Finding the Hidden Profit Potentials in your Dental Practice

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Bethany Petty, a practice management consultant in Dallas delivered this presentation to the Dental RoundTable of Goldin Peiser & Peiser, LLP in March 2013. If you want to learn more, contact Bethany at bethany@dallasdentalconsulting.com or go to her website www.dallasdentalconsulting.com.

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Finding the Hidden Profit Potentials in your Dental Practice

  1. 1. Thursday, March 21, 13
  2. 2. SHOW ME THE MONEY Finding Hidden Profit Potential in Your Practice Provided by: Bethany Petty, M.A., M.S.Thursday, March 21, 13
  3. 3. Thursday, March 21, 13
  4. 4. SEMINAR PREVIEW Profit Potential #1: The Phone Profit Potential #2: Treatment Acceptance Profit Potential #3: Reducing Write-Offs Profit Potential #4: Hygiene Department Profit Potential #5: Your Team’s TalentThursday, March 21, 13
  5. 5. Thursday, March 21, 13
  6. 6. THE PHONEThursday, March 21, 13
  7. 7. THE PHONE Two Profit Potentials Incoming Calls Outgoing CallsThursday, March 21, 13
  8. 8. Thursday, March 21, 13
  9. 9. INCOMING CALLSThursday, March 21, 13
  10. 10. INCOMING CALLS Live Example/BadThursday, March 21, 13
  11. 11. INCOMING CALLS Live Example/Bad UnfriendlyThursday, March 21, 13
  12. 12. INCOMING CALLS Live Example/Bad Unfriendly Seems preoccupied and busyThursday, March 21, 13
  13. 13. INCOMING CALLS Live Example/Bad Unfriendly Seems preoccupied and busy Allows patient to control callThursday, March 21, 13
  14. 14. INCOMING CALLS Live Example/Bad Unfriendly Seems preoccupied and busy Allows patient to control call Doesn’t lead to an appointmentThursday, March 21, 13
  15. 15. INCOMING CALLS Live Example/Bad Unfriendly Seems preoccupied and busy Allows patient to control call Doesn’t lead to an appointment Gets stuck on patient’s questionsThursday, March 21, 13
  16. 16. INCOMING CALLS Live Example/Bad Unfriendly Seems preoccupied and busy Allows patient to control call Doesn’t lead to an appointment Gets stuck on patient’s questions Doesn’t seem personal (patient’s name)Thursday, March 21, 13
  17. 17. INCOMING CALLS Live Example/Bad Live Example/Good Unfriendly Seems preoccupied and busy Allows patient to control call Doesn’t lead to an appointment Gets stuck on patient’s questions Doesn’t seem personal (patient’s name)Thursday, March 21, 13
  18. 18. INCOMING CALLS Live Example/Bad Live Example/Good Unfriendly Friendly Seems preoccupied and busy Allows patient to control call Doesn’t lead to an appointment Gets stuck on patient’s questions Doesn’t seem personal (patient’s name)Thursday, March 21, 13
  19. 19. INCOMING CALLS Live Example/Bad Live Example/Good Unfriendly Friendly Seems preoccupied Undivided Attention and busy Allows patient to control call Doesn’t lead to an appointment Gets stuck on patient’s questions Doesn’t seem personal (patient’s name)Thursday, March 21, 13
  20. 20. INCOMING CALLS Live Example/Bad Live Example/Good Unfriendly Friendly Seems preoccupied Undivided Attention and busy Listens well and Allows patient to repeats patient control call Doesn’t lead to an appointment Gets stuck on patient’s questions Doesn’t seem personal (patient’s name)Thursday, March 21, 13
  21. 21. INCOMING CALLS Live Example/Bad Live Example/Good Unfriendly Friendly Seems preoccupied Undivided Attention and busy Listens well and Allows patient to repeats patient control call Takes control of the Doesn’t lead to an phone call appointment Gets stuck on patient’s questions Doesn’t seem personal (patient’s name)Thursday, March 21, 13
  22. 22. INCOMING CALLS Live Example/Bad Live Example/Good Unfriendly Friendly Seems preoccupied Undivided Attention and busy Listens well and Allows patient to repeats patient control call Takes control of the Doesn’t lead to an phone call appointment Redirects patient’s Gets stuck on patient’s questions questions Doesn’t seem personal (patient’s name)Thursday, March 21, 13
  23. 23. INCOMING CALLS Live Example/Bad Live Example/Good Unfriendly Friendly Seems preoccupied Undivided Attention and busy Listens well and Allows patient to repeats patient control call Takes control of the Doesn’t lead to an phone call appointment Redirects patient’s Gets stuck on patient’s questions questions Uses patient’s name Doesn’t seem personal (patient’s name)Thursday, March 21, 13
  24. 24. INCOMING CALLS Live Example/Bad Live Example/Good Unfriendly Friendly Seems preoccupied Undivided Attention and busy Listens well and Allows patient to repeats patient control call Takes control of the Doesn’t lead to an phone call appointment Redirects patient’s Gets stuck on patient’s questions questions Uses patient’s name Doesn’t seem personal (patient’s name) Leads to appointmentThursday, March 21, 13
  25. 25. Thursday, March 21, 13
  26. 26. OUTGOING CALLSThursday, March 21, 13
  27. 27. OUTGOING CALLSThursday, March 21, 13
  28. 28. OUTGOING CALLSThursday, March 21, 13
  29. 29. OUTGOING CALLSThursday, March 21, 13
  30. 30. Thursday, March 21, 13
  31. 31. OUTGOING CALLSThursday, March 21, 13
  32. 32. OUTGOING CALLS Assign a team memberThursday, March 21, 13
  33. 33. OUTGOING CALLS Assign a team memberThursday, March 21, 13
  34. 34. OUTGOING CALLS Assign a team member Make him/her accountableThursday, March 21, 13
  35. 35. OUTGOING CALLS Assign a team member Make him/her accountable Establish a calling protocolThursday, March 21, 13
  36. 36. OUTGOING CALLS Assign a team member Make him/her accountable Establish a calling protocol Ensure that the calls are being made properlyThursday, March 21, 13
  37. 37. Thursday, March 21, 13
  38. 38. PROFIT POTENTIAL #2Thursday, March 21, 13
  39. 39. PROFIT POTENTIAL #2 Treatment AcceptanceThursday, March 21, 13
  40. 40. PROFIT POTENTIAL #2Thursday, March 21, 13
  41. 41. Thursday, March 21, 13
  42. 42. MOTIVATIONS TO PURCHASEThursday, March 21, 13
  43. 43. MOTIVATIONS TO PURCHASE I Want & Must HaveThursday, March 21, 13
  44. 44. MOTIVATIONS TO PURCHASE I Want & I Want & Must Have Will WaitThursday, March 21, 13
  45. 45. MOTIVATIONS TO PURCHASE I Want & I Want & I Need & Must Have Will Wait Will WaitThursday, March 21, 13
  46. 46. MOTIVATIONS TO PURCHASE I Want & I Want & I Need & I Need & Must Have Will Wait Will Wait Must HaveThursday, March 21, 13
  47. 47. MOTIVATIONS TO PURCHASE Pleasure I Want & I Want & I Need & I Need & Must Have Will Wait Will Wait Must HaveThursday, March 21, 13
  48. 48. MOTIVATIONS TO PURCHASE Pleasure I Want & I Want & I Need & I Need & Must Have Will Wait Will Wait Must HaveThursday, March 21, 13
  49. 49. MOTIVATIONS TO PURCHASE Pleasure Displeasure I Want & I Want & I Need & I Need & Must Have Will Wait Will Wait Must HaveThursday, March 21, 13
  50. 50. MOTIVATIONS TO PURCHASE Pleasure Displeasure I Want & I Want & I Need & I Need & Must Have Will Wait Will Wait Must Have Personal EmotionsThursday, March 21, 13
  51. 51. MOTIVATIONS TO PURCHASE Pleasure Displeasure I Want & I Want & I Need & I Need & Must Have Will Wait Will Wait Must Have Personal Social Emotions SituationsThursday, March 21, 13
  52. 52. MOTIVATIONS TO PURCHASE Pleasure Displeasure I Want & I Want & I Need & I Need & Must Have Will Wait Will Wait Must Have Personal Social Individual Emotions Situations GoalsThursday, March 21, 13
  53. 53. MOTIVATIONS TO PURCHASE Pleasure Displeasure I Want & I Want & I Need & I Need & Must Have Will Wait Will Wait Must Have Personal Social Individual Core Emotions Situations Goals ValuesThursday, March 21, 13
  54. 54. Thursday, March 21, 13
  55. 55. WANTS VS. NEEDSThursday, March 21, 13
  56. 56. WANTS VS. NEEDS WantsThursday, March 21, 13
  57. 57. WANTS VS. NEEDS Wants Love Acceptance or Belonging Social Prestige Higher Self-Esteem AchievementThursday, March 21, 13
  58. 58. WANTS VS. NEEDS Wants Needs Love Acceptance or Belonging Social Prestige Higher Self-Esteem AchievementThursday, March 21, 13
  59. 59. WANTS VS. NEEDS Wants Needs Love Community Needs Informational Needs Acceptance or Belonging Causal Needs Social Prestige Felt Needs Pain Higher Self-Esteem Disease Achievement FunctionThursday, March 21, 13
  60. 60. Thursday, March 21, 13
  61. 61. TYPES OF PURCHASERSThursday, March 21, 13
  62. 62. TYPES OF PURCHASERS Practical Pragmatist Useful Durability QualityThursday, March 21, 13
  63. 63. TYPES OF PURCHASERS Practical Beauty Pragmatist Useful Harmony Aesthetically Inclined Durability QualityThursday, March 21, 13
  64. 64. TYPES OF PURCHASERS Practical Beauty Pragmatist Useful Harmony Aesthetically Inclined Truth Knowledge Hyper Critical Durability Quality IntellectualThursday, March 21, 13
  65. 65. TYPES OF PURCHASERS Practical Beauty Pragmatist Useful Harmony Aesthetically Inclined Truth Knowledge Hyper Critical Durability Quality Intellectual Enhanced Social Power Position Politically Personal Motivated AdvantageThursday, March 21, 13
  66. 66. TYPES OF PURCHASERS Practical Beauty Pragmatist Useful Harmony Aesthetically Inclined Truth Knowledge Hyper Critical Durability Quality Intellectual Enhanced Social Empathy Power Position Nurture Politically Personal Advantage Kindness Social MotivatedThursday, March 21, 13
  67. 67. Thursday, March 21, 13
  68. 68. TREATMENT ACCEPTANCEThursday, March 21, 13
  69. 69. TREATMENT ACCEPTANCE Know your patient First phone call, gather information First appointment, gather information During exam, gather informationThursday, March 21, 13
  70. 70. TREATMENT ACCEPTANCE Know your patient First phone call, gather information First appointment, gather information During exam, gather information Customize communication for each patientThursday, March 21, 13
  71. 71. TREATMENT ACCEPTANCE Know your patient First phone call, gather information First appointment, gather information During exam, gather information Customize communication for each patient Move patient from “need” to “want”Thursday, March 21, 13
  72. 72. TREATMENT ACCEPTANCE Know your patient First phone call, gather information First appointment, gather information During exam, gather information Customize communication for each patient Move patient from “need” to “want” Take it one step at a timeThursday, March 21, 13
  73. 73. TREATMENT ACCEPTANCE Know your patient First phone call, gather information First appointment, gather information During exam, gather information Customize communication for each patient Move patient from “need” to “want” Take it one step at a time Involve your team (more to come on this)Thursday, March 21, 13
  74. 74. Thursday, March 21, 13
  75. 75. PROFIT POTENTIAL #3Thursday, March 21, 13
  76. 76. PROFIT POTENTIAL #3 Reducing Write-Offs, Two Types of Write-Offs In-office discounts Insurance write-offsThursday, March 21, 13
  77. 77. Thursday, March 21, 13
  78. 78. REDUCING WRITE-OFFSThursday, March 21, 13
  79. 79. REDUCING WRITE-OFFS Whether you participate in write-offs is dependent upon: Your location and demographics Your brand Your specialty Your treatment coordinatorThursday, March 21, 13
  80. 80. REDUCING WRITE-OFFS Whether you participate in write-offs is dependent upon: Your location and demographics Your brand Your specialty Your treatment coordinator If write-offs are necessary, you can reduce them by: Negotiating your contracts with PPO Training your treatment coordinator to assess patients correctly Setting firm parameters on in-office discountsThursday, March 21, 13
  81. 81. Thursday, March 21, 13
  82. 82. PROFIT POTENTIAL #4Thursday, March 21, 13
  83. 83. PROFIT POTENTIAL #4 Hygiene Department Profit in Scheduling Profit in Perio Profit in Treatment PlanningThursday, March 21, 13
  84. 84. Thursday, March 21, 13
  85. 85. HYGIENE DEPARTMENTThursday, March 21, 13
  86. 86. HYGIENE DEPARTMENTThursday, March 21, 13
  87. 87. HYGIENE DEPARTMENT Hygienists should produce 30% of total office productionThursday, March 21, 13
  88. 88. HYGIENE DEPARTMENT Hygienists should produce 30% of total office production 30% of production should be PerioThursday, March 21, 13
  89. 89. HYGIENE DEPARTMENT Hygienists should produce 30% of total office production 30% of production should be Perio 47.2% of Americans have periodontitisThursday, March 21, 13
  90. 90. HYGIENE DEPARTMENT Hygienists should produce 30% of total office production 30% of production should be Perio 47.2% of Americans have periodontitis 8.7% MildThursday, March 21, 13
  91. 91. HYGIENE DEPARTMENT Hygienists should produce 30% of total office production 30% of production should be Perio 47.2% of Americans have periodontitis 8.7% Mild 30% ModerateThursday, March 21, 13
  92. 92. HYGIENE DEPARTMENT Hygienists should produce 30% of total office production 30% of production should be Perio 47.2% of Americans have periodontitis 8.7% Mild 30% Moderate 8.5% SevereThursday, March 21, 13
  93. 93. Thursday, March 21, 13
  94. 94. HYGIENE DEPARTMENTThursday, March 21, 13
  95. 95. HYGIENE DEPARTMENT If Hygiene Department is producing less than 30% in those two areas then: Check schedule openings. No more than 10% schedule openings.Thursday, March 21, 13
  96. 96. HYGIENE DEPARTMENT If Hygiene Department is producing less than 30% in those two areas then: Check schedule openings. No more than 10% schedule openings. Check active patient base to ensure appropriate number of hygiene days.Thursday, March 21, 13
  97. 97. HYGIENE DEPARTMENT If Hygiene Department is producing less than 30% in those two areas then: Check schedule openings. No more than 10% schedule openings. Check active patient base to ensure appropriate number of hygiene days. Check perio protocol and standards.Thursday, March 21, 13
  98. 98. HYGIENE DEPARTMENT If Hygiene Department is producing less than 30% in those two areas then: Check schedule openings. No more than 10% schedule openings. Check active patient base to ensure appropriate number of hygiene days. Check perio protocol and standards. Check education/communication protocols.Thursday, March 21, 13
  99. 99. Thursday, March 21, 13
  100. 100. PROFIT POTENTIAL #5Thursday, March 21, 13
  101. 101. PROFIT POTENTIAL #5 Maximize your team’s potentialThursday, March 21, 13
  102. 102. PROFIT POTENTIAL #5 Maximize your team’s potential Find the best person for each task (conduct personality testing, when needed)Thursday, March 21, 13
  103. 103. PROFIT POTENTIAL #5 Maximize your team’s potential Find the best person for each task (conduct personality testing, when needed) Provide on-going training and on-going performance evaluationThursday, March 21, 13
  104. 104. PROFIT POTENTIAL #5 Maximize your team’s potential Find the best person for each task (conduct personality testing, when needed) Provide on-going training and on-going performance evaluation Integrate your entire team in attracting and retaining patientsThursday, March 21, 13
  105. 105. PROFIT POTENTIAL #5 Maximize your team’s potential Find the best person for each task (conduct personality testing, when needed) Provide on-going training and on-going performance evaluation Integrate your entire team in attracting and retaining patients Initiate a total team approach to treatment acceptanceThursday, March 21, 13
  106. 106. Thursday, March 21, 13
  107. 107. SHOW ME THE MONEYThursday, March 21, 13
  108. 108. SHOW ME THE MONEY “To Do” List for Today:Thursday, March 21, 13
  109. 109. SHOW ME THE MONEY “To Do” List for Today: Evaluate the person answering your phonesThursday, March 21, 13
  110. 110. SHOW ME THE MONEY “To Do” List for Today: Evaluate the person answering your phones Run the “Unscheduled Treatment” reportThursday, March 21, 13
  111. 111. SHOW ME THE MONEY “To Do” List for Today: Evaluate the person answering your phones Run the “Unscheduled Treatment” report Run the “Unscheduled Recall” reportThursday, March 21, 13
  112. 112. SHOW ME THE MONEY “To Do” List for Today: Evaluate the person answering your phones Run the “Unscheduled Treatment” report Run the “Unscheduled Recall” report Assign a team member to evaluate write-offsThursday, March 21, 13
  113. 113. SHOW ME THE MONEY “To Do” List for Today: Evaluate the person answering your phones Run the “Unscheduled Treatment” report Run the “Unscheduled Recall” report Assign a team member to evaluate write-offs Maximize your team’s personality and shift positionsThursday, March 21, 13
  114. 114. SHOW ME THE MONEY “To Do” List for Today: Evaluate the person answering your phones Run the “Unscheduled Treatment” report Run the “Unscheduled Recall” report Assign a team member to evaluate write-offs Maximize your team’s personality and shift positions Evaluate your team’s treatment presentationThursday, March 21, 13
  115. 115. SHOW ME THE MONEY “To Do” List for Today: Evaluate the person answering your phones Run the “Unscheduled Treatment” report Run the “Unscheduled Recall” report Assign a team member to evaluate write-offs Maximize your team’s personality and shift positions Evaluate your team’s treatment presentation Run the “Annual Productivity” reportThursday, March 21, 13
  116. 116. SHOW ME THE MONEY “To Do” List for Today: Evaluate the person answering your phones Run the “Unscheduled Treatment” report Run the “Unscheduled Recall” report Assign a team member to evaluate write-offs Maximize your team’s personality and shift positions Evaluate your team’s treatment presentation Run the “Annual Productivity” report Run the “Production by Procedure” reportThursday, March 21, 13
  117. 117. SHOW ME THE MONEY “To Do” List for Today: Evaluate the person answering your phones Run the “Unscheduled Treatment” report Run the “Unscheduled Recall” report Assign a team member to evaluate write-offs Maximize your team’s personality and shift positions Evaluate your team’s treatment presentation Run the “Annual Productivity” report Run the “Production by Procedure” report OR Call meThursday, March 21, 13

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