Practice Lost Income - the key to recession survival

It’s estimated that a poorly managed practice fails to realize it’s full income potential by 20 -50%. Ouch! Now here’s the hook: In affluent times who cares right? Why bother when you are swamped with cases and just trying to keep up and get home before your kids are in bed. But in recession times, like NOW, this attitude is not only wasteful it’s reckless! Let’s have a closer look...

Lost Income: That income that slips through your fingers from poor control and efficiency…
So what to DO?

1. Start by caring about every area in your practice that you can control. - For example, start caring about those clients who are calling in as shoppers - get them in! Start caring about how clients are greeted - everything you do has either a positive or negative promotional impact on your practice. Start caring about spending more time training your staff – so their confidence level is high when they recommend a treatment plan. Start caring about reactivating every single client so they return at least once a year to your practice. Start tracking your metrics of practice performance so you can spot lazy areas right away. Start caring about how well you sell your treatment plans. Start caring about working out always getting paid or exact payment plans. Start caring about doing top-quality medicine - medicine where there is no chance of mistake. Start caring about checking patients before they go out the door and correcting things that are not right. Start asking for referrals. BE INTERESTED IN EVERYTHING ABOUT YOUR PRACTICE!

2. Start promoting your practice - Starting tightening up your reactivation program. Get on the phones and call your clients. They love to hear from you. Many would love you as their own Doctor so call them up! BE INTERESTED IN YOUR CLIENTS.

3. Start tracking your indexes of practice performance - start by tracking the number of office visits and your Average Client Charge. Just looking at these 2 indices every week, comparing current to the last can make a huge difference in your bottom. PLAY YOUR PRACTICE LIKE A GAME.

4. In closing, remember this: THERE IS NO SHORTAGE OF MONEY. People still have lots of money but may be reluctant to spend it. Don’t buy into the doom of the news media. It could lose you lots of income.