Practice Management Consulting Services
Philosophy
Services (Including Insurance Collections).
References.
Consultant Credentials.
Costs.
Philosophy
Action Plan Link
Sometimes, the formulation of a workable strategy (see Action Plan above) for the dental office will allow the dentist and his/her team to modify their daily actions, procedures, protocols, and systems (tactics) to reach the practice's potential. Once the strategy is formulated and the tactics are decided, some offices are able to implement the tactics themselves quite effectively.
Other times, creating and implementing essential change in tactics can be done effectively only with outside assistance. This calls for either an experienced outside consulting firm or a massive change in the team itself, particularly the addition of someone with experience in making such a transition in a similar practice. We provide many types of dental practice management assistance.
Practice management consulting is best done in the dental office working directly with doctor's and staffs. However, there is also another theory being proposed regularly to dental offices. It is what we call the trickle down consulting approach. The next paragraph describes the trickle down management consulting approach, an approach which is only marginally effective but very much the preference of most consulting firms working with dental offices.
Trickle Down Consulting Approach (bad). This approach is much less expensive for the consulting company, but it is much more expensive for the dental office, and it is less effective. This approach suggests that the entire staff should travel together to some neutral location for training classes requiring the doctor to pay all the expenses as well as losing the production time. Does this make any sense? Why shouldn't the consultant go where the practice is located? One person travels, not many. Their excuse is that it gets the full attention of the entire staff away from the hubbub in the office. If you hear this one, say, "Bunk!" Most dental offices have problems that are real, not theoretical. How can they gain anything in a theoretical setting? If there is a leak in a dam, the solution is not to get a meeting together in a conference room somewhere to discuss the problem. The solution is to go to the dam, find the leak, and stop it up. The real motive behind this approach is greed, and not enough talent.
One-on-One, In-Office Approach (good). After collecting essential information from the doctor the consultants go to the dental office in person. They stay long enough to get a feel for the tempo and the personality of the practice. Dentals practices are not produced on an assembly line. Each has unique qualities based on many, many factors including location, personalities, etc. In order to assist in maximizing the potential of the practice it is absolutely a requirement to meet with the doctor and his team in their environment while they are going about their daily activities. Also, it is necessary that everyone on the team is on board. Most practices will require a bit of fine-tuning of their internal systems, procedures, and protocols. They must grow at least enough to pay the expenses associated with the consulting process, or the idea of using a consultant is a bad one. Our clients ALL increase their monthly production by more than $10,000 (verifiable) with the average in excess of $15,000 per month. This means that the habits formed will have to be modified. Consequently, each and every team member must be consulted directly to guarantee that the entire team is performing at maximum potential. Also, staff members need reassurance that they are not being blamed or taking the blame for less than perfect results. Retention of the staff must be a high priority to keep continuity rather than starting over again and again. Only by knowing the heart beat of the practice can internal protocols be designed and documented to gain maximum potential for each unique practice. It costs the consulting company more, of course, but it does not have to cost the dentist more. Our fees are the lowest in the industry and our costs are probably the highest, so we have to be willing to net a bit less from our clients. However, while they must make huge expenditures for sales and marketing to attract new clients, we are almost exclusively referral-oriented. We do not spend money for magazine advertisements, trade show booths, or commissions to salesmen. They have their way of doing business, and we have ours.
Increase Practice Production Immediately. Even though it is essential to get as much knowledge first-hand as possible about the practice, we will have a pretty good idea what to address immediately before we ever arrive in the office. Consequently, more than half of our clients will experience a record production month the first month we arrive. (This does not come from fee increases as with many other firms. That is basically a scam. Raising fees does not require assistance from a consulting firm.) From the first day we arrive we begin collecting vital-sign monitors for the practice on a regular basis. In the beginning this will be accomplished by simply receiving a copy every day of the daily report completed by the administrative staff. Ultimately, we will be monitoring a bit closer. All this attention and emphasis will raise the awareness of everyone in the practice. This increased awareness and attention along with our assistance in scheduling is responsible for the initial jump in production. Again, this is even in practices where production is not necessarily our reason for being there.
Change Paradigms and Negative Habits. In order for a dental practice to make significant progress toward maximizing their potential while maintaining a low-stress, enjoyable working environment, two major obstacles must be overcome. First, there is a mindset (paradigm) in practices. Over time the office has self-determined its potential and individuals will subconsciously adjust their activities to make certain that that potential is not exceeded. For instance, if the practice believes it can produce only $55,000 per month, activities will be adjusted subconsciously to make this a self-fulfilling paradigm. Only by proving to the practice that they, as a team, can produce more can we change the limiting mindset. Once we have formed a new mindset we have to work on all the limiting habits that have been formed to support the mindset. That means going into each key area and revising the protocols in writing and with hands-on training for each individual. These Full Service Plan clients work with us for one year at a time during which we will visit in their offices at least nine times per year for several days per visit.
Dental Practice Management Consulting Services
Maximizing Your Insurance Income. (Get cash now that belongs to you.)
Insurance has become a reality in dental offices, and it will not go away. All our Full Service Plan clients get the benefit of our collecting insurance for them. This service is also available to non-clients. The commitment is three months, and then you may choose to continue or not on a monthly basis. Click for pricing and commitment requirements.
Free Analysis
For dental practices that are more interested in simply assessing their situation there is the FREE Practice Production Potential Analysis. There are a handful of questions the answers to which we run through a computer model to determine at what percentage of potential your practice is producing. A few suggestions for how to effect positive changes are included as well. This is a very good barometer for any dental practice, and we have performed hundreds and hundreds of these at no cost. To go to this form click here.
In-Depth Analysis Plan
Should the dentist want a much deeper analysis of his/her practice’s business procedures and value on the market, he/she may choose to engage us for an In-depth Business Analysis. This analysis includes a visit to the practice to collect data and assess the situation first-hand. The product of this analysis is a written document in booklet form that discusses in great detail each and every business aspect of the practice including effectiveness against potential in production, collections, and marketing. In addition, there is a telephone conversation with the dentist concerning the findings and recommendations. Also included is an assessment of the value of the practice in its present state, and an assessment of the doctor’s personal retirement planning, if appropriate. The final section includes recommendations for the owner to improve his business operations where advisable and to raise the overall value of the practice. Dentists who are considering transition issues often find this to be a very valuable way of establishing the facts for prospective partners, buyers, etc.
Internal Procedural Audit Plan
Should the dentist want to assess his/her internal systems, procedures, operations, and protocols, he/she may choose to engage us for an Internal Procedural Audit. A trip to the dental office by an appropriately trained Consultant is required. This analysis is geared not toward the financial portion of the business practices but toward how effective and efficient the practice is in each of the five key areas; scheduling, hygiene, finance, teambuilding, and marketing. The product of this audit is a written document in booklet form that discusses each area in detail with specifics concerning these internal operational areas. In addition, there is a telephone conversation with the dentist concerning the findings and recommendations. The final section includes recommendations to the owner for changes or reemphasis in each protocol area to operate more smoothly and effectively. Dentists who are concerned about the operational efficiency of their organizations and areas of concern but who do not want outside assistance to correct any areas of deficiency are likely to be interested in this service whether having just purchased a practice or having managed the practice for many years.
Full Service Plan
Many of our clients work with us under our Full Service Plan, which is exactly that. For one year we work with our clients in their offices to accomplish their objectives in their practices. While also working daily by telephone, fax, and email, our consultants are in the dental office every 4 to 6 weeks for several days per visit. Results with these clients are far in excess to anything else in the industry. (verifiable) This will always include an In-depth Business Analysis, which surveys the business of the dental office and how it is performing. Also, we will always conduct an Internal Procedural Audit to see how we are working together in the five vital protocols. These analyses help the client and us to know where the practice is today, what the potential is for this practice in the future given several scenarios, and where attention should be paid first, as well as thereafter.
By the end of one full year the dental practice will have increased monthly production by at least $10,000 per month, so production will be up by at least $120,000 per year, permanently. Each internal system, procedure, and protocol will be analyzed and fine-tuned where necessary. In addition, there will be written protocols in all areas. Stress will be reduced significantly because everyone will be working as a team rather than many individual performers working from their own version of an unwritten script. Overhead costs will have moderated to 50% - 60% of gross production, or the plan will be in place to accomplish that. (Sometimes, because spending is excessive, this takes longer than one year, but that is a problem in less than 25% of the cases.) In addition, the doctor will have a solid financial plan for eventual retirement in place and active.
Continuum - Financial Planning Plan
This is a one year service. Most of our Continuum clients were formerly Full Service Plan clients. This service is meant as a way of assuring that the practice will continue its winning ways and that the doctor is able to continue his personal retirement and financial planning progress. While there is still some limited interaction with the staff, this service consults more directly with the doctor regarding financial planning issues. Once per year the specially-trained Financial Executive will visit with the doctor in the doctor's office. Also, once per year the doctor will travel to Florida for an annual checkup and planning session on Friday and Saturday morning. In addition, the doctor will receive monthly written reports including full-color graphing of his practices progress as well as his/her personal progress toward financial goals. Also, each month after the report has been received by the doctor there will be a conference call to discuss the details and to determine any new conditions.
De Novo Practice Opening Plan
A de novo dental practice is a practice which starts with no patients, and usually no facility or equipment. Our De Novo Practice Opening Plan is a fifteen month service. The service starts three months prior to opening day and continues for the first year. There is no other service that can save the dentist so much money in the beginning by making sure that only the necessary supplies and equipment are acquired. If necessary, this service includes working on business plans for the bank, and meeting with bankers. De novo clients benefit from the right type of pre-opening promotion which also saves dollars in the front. Because the entire practice is established with workable procedures, systems, operational approaches, and protocols there is no inborn inefficiency. The team is hired to perfectly complement the doctor, and there is no over-hiring, saving once again. Clients who engage us from the beginning will double or triple the production in their first year of the average de novo practice. (verifiable) This service will pay for itself by a factor of four in the first year alone, and the second and subsequent years grows from a much higher level, so financial benefits continue for many years. Bankers are much more likely to work with dentists including financing our fee after speaking with us.
Scheduling Protocol Plan
Sometimes a dental practice can make enormous strides by modifying the scheduling procedures. Scheduling Protocol consulting is for that purpose. Too often, scheduling is done by filling spots with little or no attention paid to the overall objectives of the practice. This 90-day service includes at least two trips to the practice addressing the scheduling of doctors’ as well as hygiene patients by training individuals, providing scripts, role playing, or whatever other method is necessary to convey the science that is involved in scheduling for maximum production and minimal stress. Starting with the practice goals a protocol is established, written, adopted, and instilled that applies the scientific analysis that is necessary to produce a schedule meeting financial goals while staying within the parameters of an ideal schedule designed by the clinical staff to minimize stress. Some of the biggest conflicts in dental offices arise between those responsible for fulfilling financial scheduling goals and those who must actually produce the dentistry. This conflict is not necessary. Yet, there is more than scheduling. It is necessary to modify actions in order to eliminate cancellations and no-shows...something that is possible without being rude or running off patients. The client on a month-to-month basis can extend this consulting, if helpful.
Hygiene Protocol Plan
If the hygiene department is not performing up to satisfaction, it is possible to engage us for Hygiene Protocol consulting. Hygiene drives a dental practice. If hygiene is not performing appropriately, this puts an enormous burden on the doctor’s production, and inevitably practice production will suffer. Hygiene should produce three times the total salary costs for hygienists and any assistants they may use. Anything less than $1,000 per day per hygienist is a sign of underperformance, and in some locations that should be raised by 25% to 50%. This 90-day service including at least three visits to the dental office is designed to dig into the hygiene function of the practice and assist those involved to modify actions and procedures, which are causing the hygiene function not to reach appropriate expectations. Every single area from recall/recare procedures, hygienist compensation, cancellations and no-shows, pre-appointing, etc. are address and modified to a more effective and efficient protocol. The client on a month-to-month basis can extend this consulting, if helpful.
Financial Management Protocol Plan
One of the reasons that there is an 83% incidence of embezzlement in dental offices is that the internal procedures involved with handling money are inadequate and not auditable. Even if embezzlement is not an issue, it is essential for every dental office to have a written, understood, and practice system of procedures for handling money in the dental practice. This 90-day service including at least two visits to the dental office will result in a solid, financially sound, failsafe protocol for handling all money issues in the dental practice from properly calculating net productions versus gross production, to fee comparisons, to salary comparisons, etc. In addition, the specially trained Consultant will be able to detect during the initial visit if there have been problems in the office, and if they continue.
Teambuilding Protocol Plan
Personnel management and turnover can be the most stressful part of a dentist’s life. Sometimes, this is because there is not a good protocol for teambuilding, team management, and team retention. Teambuilding Protocol consulting includes analyzing and revising Job Descriptions, Policy and Procedure Manuals, compensation, bonus techniques, hiring practices, morale, and all other areas dealing with recruiting, hiring, managing, and even terminating when necessary. This 90-day service will leave the practice with a written protocol for the entire personnel management area. This service will include at least two visits, to interview with each and every staff member to assess their personality match for their particular position as well as within the team, and to conduct a half-day staff cohesiveness and teamwork session. The client on a month-to-month basis can extend this consulting, if helpful.
Marketing Protocol Plan
This service is to establish an effective and reasonable plan for maintaining adequate new patient flow of the type patients for which the practice is oriented. An in-depth analysis of each and every step in the internal marketing procedures will be analyzed and fine-tuned where necessary. If external promotion is necessary many layers of approaches will be presented. This is a 90-day service which will require at least two in-office visits. Actual newsletters, ad copy, etc. will be provided during this time. By the end of the 90 days there will be a clear, written plan for practice promotion which will provide the number and type patients needed to grow at the level necessary for the practice. Many clients maintain this service on a month-to-month basis simply for the newsletters, ads, promotional campaigns, etc. which are included.
Collections @ 98% Plan
For dental practices that have already ascertained what areas require addressing it is possible to engage our services limited to specific areas. For instance, if collections are not in the 98% range, that is a problem. With our Collections @ 98% consulting we not only assist to improve the internal collection procedures to assure that future collections will be in the 98% range, but we actually call insurance companies and patients to increase the cash flow for the client, immediately. At least one visit in the office is required. This assistance can be particularly helpful for clients who have Accounts Receivable in excess of monthly net production. This service is for three months and can be extended by the client on a month-to-month basis depending upon need. It may be cheaper to engage us for this service than to hire someone to do it in the office. In addition, this is a guaranteed success.
Costs.
There is some variation in our fees based upon the size of the practice and consequently the size of the task. Generally, our fees are more attractive than any other nationally renowned dental practice management firm. Also, we allow monthly payments without the requirement for complicated loan documents. Call our office at 813-963-7228 for information on fees. Another approach is to complete the Practice Production Potential Analysis and ask for a quote by email.
References.
We have an almost limitless number of references in most parts of North America, and they are multiplying almost daily. We will supply those in groups of three to dentists, and dentists only, who have undergone the Practice. Production Potential Analysis. Our references are our clients and former clients. It is essential to know what geography and what type of practice requires references. Also, we do not pay for references, but we do forewarn them with the name of the dentist who will be calling them and the approximate timeframe. Our references are not sullied by financial involvement with our company, but we do want to be fair to them. Just contact us, and we can work it out.
