Houston Dentistry Volume 5 Issue 1 - Page 16

HOW TO ENSURE Financial Security for Your Practice
practice management

HOW TO ENSURE Financial Security for Your Practice

by Dr . Brian Passell
First and foremost , dental care is the science , art , and philosophy that focuses on the relationship between the patient , the function or health of the teeth , mouth , and the entire body .
But it is also a business and , when properly managed , can lead to financial security . To create incredible patient experiences and , at the same time , a viable successful business , requires vision and planning .
Begin with a vision .
So , let ’ s start with the first thing , vision . Who is responsible for the vision of your practice ? It is you , the dentist , as the leader . Who needs to know the vision ? Everyone , including your patients and employees .
The meaning of vision is often misunderstood , as well as the power it holds . By getting a clear grasp on your business vision , you will be able to take your practice , your team , your patients , and your life to higher and higher levels of success and fulfillment .
A vision is a thought , concept , or object formed by the imagination , this is where you start . By its very nature , a vision does not yet exist , or at least not in its entirety . A vision is out there , ahead of you , and you move deliberately toward it in the future . If you have a vision , you see the destination before you as something to aim for .
Blindness is the opposite of vision . Without it , you ’ re in trouble . Without a vision , it means that you can ’ t think strategically about the possible effects of actions or decisions . Or what might happen in the future . You are fumbling around in the dark . This means that you will make decisions that may only get you through today and not necessarily tomorrow .
Consider your business future through a vision .
Start by asking yourself what do you see when you think about the potential of your dental practice . What do you want to be known for ?
Do you want to be known for providing great dental care and doing it profitably ? This vision of yourself guides big and small actions and decisions . An example of being short-sighted is a dental team searching and purchasing supplies online , rather than collaborating with a qualified field rep , with the intent of shaving off a certain number of percentage points from overhead expenses . Alternatively , a team with a vision would instead invest that time and effort into areas that will produce larger and longerterm results .
Share your vision with everyone involved .
When leaders share a clear vision and organize the team and workplace to accomplish it , a powerful dynamic drives employee performance . You will realize that your vision will drive the decisions you and your team make , whether big or small , because having a clear vision simplifies the decision-making process . John Maxwell said , “ Failed plans should not be interpreted as a failed vision . Visions don ’ t change . They are only refined . Plans rarely stay the same and are scrapped or adjusted as needed . Be stubborn about the vision but flexible with your plan .”
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