I wrote an article at the start of the year last week about the Five Essential Numbers I’d be tracking and measuring in my dental practice as we start into the new year of 2021.
And the first numbers I’d be starting to monitor closely would be daily productions and collections.
Along with the daily numbers, I’d be looking at the weekly totals and the monthly totals.
And I’d be looking at comparing one week to another as well as one month to another, both in this year as well as comparing back to previous years.
In my practice every day was “ruled off”.
What I mean by that is we knew at the end of each working day exactly how much work was done and how much money was collected that day.
Ruling off was a daily ritual that meant that we could then take action regarding the daily performance.
I know some dental practices that do not “rule off”.
And as such, there is no “finish line” in those offices each day.
Practices that rule off usually have a daily goal to hit, and often pay bonuses to staff and team depending on whether their production and collections meet or exceed that daily goal.
Most importantly, the following idioms are true:
What gets measured gets repeated.
And what gets measured gets improved upon.
When we look at our figures at the end of each day, and each week and each month, and compare those figures back to previous days, and weeks and months and years, we are able to look for patterns and trends that demonstrate the effectiveness of what we are doing and of what we are trying to achieve in our dental practice.
What we are looking for is consistency. And improvement.
Nobody likes to work their tail off and not be rewarded for their efforts.
Are you collecting each day for the dentistry you are producing?
Are your days producing an even cash flow, each and every day, that allows you to predictably forecast your dental practice earnings in advance, on a consistent basis?
When you know what your practice is consistently producing and collecting on a weekly and on a monthly basis, then you have the ability to structure your working weeks and your working days to reflect the results that you are achieving.
And so when you take control of your appointment schedule to create a template that delivers you the production that you seek in a structured manner, then life as a business owner starts to look significantly better.
Do you know what you WILL produce each day, or do you only know at the end of the day what you DID produce?
And if you do not know in advance what each day will bring, why not take the time to organise your schedule better?
Life as a business owner is far better when your days are organised, and you are running your appointment schedule, rather than allowing your schedule to be running you.
If you measure your collections and productions each and every day, you’ll go a long way towards building the dental practice of your dreams in 2021….
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The Ultimate Patient Experience is a simple to build complete Customer Service system in itself that I developed that allowed me to create an extraordinary dental office in an ordinary Sydney suburb. If you’d like to know more, ask me about my free special report.
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