Reaching
your destination
Just as it takes in-flight corrections for an airliner to reach its destination, dental practices faced with challenging conditions
should also check their progress — monitoring key metrics
and conducting a SWOT analysis — and correct accordingly. A mid-year course correction can help a practice
reach its destination with flying colors.
Article originally appeared in Dental Business Review.
Reprinted with permission.
To make the right mid-year course correction, the place to begin is with an
analysis of the current state of the practice. This includes a review of key performance targets that contribute to overall practice success, as well as an objective evaluation of the practice’s strengths, weaknesses, opportunities and threats
(known as a SWOT analysis, this is used widely in the business world).
Lacking business training, most dentists simply look at production, personal
income and the overhead percentage to determine the practice’s health. When
practices were growing every year, this was acceptable. Today, more in-depth
information is needed. Without it, not only will it be impossible to execute
an effective mid-year course correction, but the practice may also be
headed for decline — without the dentist realizing it.
Dr. Roger Levin is a thirdgeneration general dentist
and the Chairman and
CEO of Levin Group, Inc.,
the largest dental practice
management and marketing firm in North America.
As a leading authority on
dental practice management and marketing, he has developed the scientific systems-based consulting method that will
increase practice production and profitability,
while lowering stress. Dr. Levin has authored 65
books and more than 3,700 articles. He presents
100 seminars per year worldwide.
Train your team the
easy way — sign up for
Levin Group’s Tip of the
Day. It’s free. It’s brief.
And it can help you and
your team improve
performance.
www.levingroup.com/tipoftheday
Global Reach. Local Touch. Single Source.
www.northtexasdentistry.com
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