Is there any dentist who would prefer stress over an efficiently run practice? No one would ever make that choice deliberately. Unfortunately, dentists report stressful practices but do not fully comprehend why stress exists in the office. In most cases observed by Levin Group over the years, stress results from the lack of well-defined business systems. Without the proper systems in place, the dentist will carry the burden of running the practice entirely on his or her shoulders.
Effective Business Systems Reduce Stress
High stress levels are an indication of practice inefficiency. Putting effective business systems into place will help dentists achieve lower stress levels, improve profitability and continually develop their team.
These four action steps can help practices improve their current business systems, thus reducing stress.
Examine Key Performance Indicators
A practice cannot be well managed without data. Vital information must be collected and analyzed to get a true picture of current and potential practice performance. Key Performance Indicators (KPIs) provide an accurate assessment of the practice’s crucial functions, including:
- Production
- Overhead Percentage
- Profit
- Revenue
- New Patients Per Year
- Production Per Patient
- Accounts Receivable
- Collections
- Average New Patient Production
This data can be easily gathered from existing practice software. These KPIs also allow dentists to rapidly identify trends or performance deviations that may be difficult to discern otherwise. Performing this analysis will provide insight into the strengths and weaknesses of various practice systems.
Involve the Team
Once you have a clear picture of actual practice performance by analyzing KPIs, the next step is to examine each system with input from your team. Staff meetings dedicated to the review of major systems, such as scheduling, case presentation, hygiene, practice financial management and patient finance, can have a tremendous impact on reducing inefficiency. Include everyone in the conversations so that the office manager can get the best ideas from as many team members as possible. For example:
- Ask each team member to bring a list of 5-10 possible improvements that can be made in the office to the next staff meeting.
- Organize at least one off-site all day retreat per year with a full agenda to focus on current issues and strategic planning. This has a tremendous effect on bringing people together and identifying key areas to help the practice reach higher levels of efficiency and success.
- Send your office manager to regularly scheduled continuing education courses to gain new perspectives and ideas on dental management.
Make Changes and Delegate Tasks
Morning meetings are an effective method for improving practice communication. Simply being prepared for what’s ahead on a given day will greatly reduce stress in the practice. During the morning meetings, the doctor and the team should identify times throughout the day when:
- Emergencies can be seen
- Time crunches are likely to occur
- New patients will be visiting the practice and need extra attention from the staff and doctor
- Patients are presenting for final appointments but have not completed their payment plan
You should also organize monthly meetings to cover broader issues, update co-workers, and plan strategically for the future. Monthly staff meetings should have a written agenda so that everyone understands the goals of the practice. The monthly meetings are also an ideal time to review specific systems.
Document Systems to Create Meaningful Change
For many practices, the habit of relying on verbal, unwritten protocols is an unintentional cause of stress. To create real change to the practice’s business systems, the team should write an operations manual for each major business system in the practice. Each manual can then be reviewed and refined by the office manager and doctor.
These manuals must include a step-by-step analysis of each system. This format allows everyone in the practice to be knowledgeable about every system and also expedites training of new employees. My suggestion is to systematically review one system at a time until the manual is completed.
Summary
By working to create effective business systems in their practices, dentists can make the shift to working smarter and reducing stress in the practice. Additionally, when doctors improve business systems, their practices can attain higher levels of profitability and efficiency. Levin Group has observed that taking the crucial step to establish documented business systems raises the level of expertise within the practice, and increases productivity, which results in increased profit.
How efficient are your business systems? If you would like to speak (at no cost) with a Levin Group Practice Development Specialist about making your business systems more efficient, call 888-973-0000 or e-mail your name, phone number, and address to [email protected] with “Business Systems” in the subject line.