I cannot believe how many times I get face to face with dental practice owners and they have no idea of their numbers.
And when I say no idea I mean ABSOLUTELY NO FREAKING IDEA!!
Q1: “How much do you produce each month?”
A1: “I don’t know…”
Q2: “How many new patients do you see at your practice each month?”
A2: “I don’t know…”
Q3: “How much is the average new patient two-year value in your practice, and how does this value vary from dentist to dentist in your practice?”
A3: “I don’t know…”
Q4: “How many cleans are being done by each dentist and each hygienist in your practice?”
A4: “I don’t know…”
I recently crunched some numbers for a three dentist practice… the dentists are basically TEARING UP between $1.35M and $1.7M annually by doing their own cleans and not employing a hygienist….
One dentist was cleaning teeth at an hourly rate of $220.00 per hour and doing restorative procedures in the practice at an hourly rate of $1250.00 per hour….
Which meant that the income he was generating in five hours of cleaning could be replaced by simply doing one hour of restorative dentistry [and playing golf for the other four hours!!]
Between these three dentists they were doing sixty cleans a week, robbing themselves of thirty hours of restorative dentistry that they should have been doing ….
And yet dentists will tell me this:
“I tried a hygienist and it didn’t work for me”
There’s a good reason for this.
It’s the same reason as the guy used who said:
“I tried performing brain surgery and it didn’t work for me”
The reason both these things did not work was because the dentist [and the potential brain surgeon] did not seek education and professional help before embarking on their journey.
They both tried winging it.
And they both failed miserably.
When my friend Jack Daly decided at the age of 42 that he wanted to do Iron Man Events and Triathlons, he had one small problem…
He could not swim.
He could run. And he could ride a bike.
But he could not swim.
So, what do you think he did?
Do you think he went to the local pool and dived in at the deep end and just worked out how to swim?
He did not.
Do you think he went to the internet and social media groups and researched how to swim online?
He did not.
What Jack did was find himself a swimming coach who could teach him how to swim and would keep him accountable while he learnt and improved his techniques.
Jack became proficient at swimming and started competing in triathlons and ironman events. In 2013 he was invited to compete in the World Ironman Championship in Kona Hawaii.
The secret sauce was the coaching.
It also helped Jack to know his numbers.
If you don’t know your numbers:
A lot of dentists who don’t know their numbers are literally tippy-toeing along the cliff edge of financial disaster, purely because they think that they are going OK, when their definition of OK is a long way from being healthy and secure.
Not knowing your numbers is really financial suicide.
If you don’t know your numbers it simply means that every day, every week, every year you are literally wasting valuable money that you are capable of earning and should be keeping, that you aren’t.
And even if you didn’t want that money but were able to donate it to people in need rather than simply just squander it, then maybe you’d be doing more good in the world than you are at the moment, by not watching your numbers.
The numbers tell the story.
Owning your own dental practice and running it profitably allows you the opportunity of reaching your goals much quicker than if you just guess your way through life.
Make a difference.
Put in the effort.
It is worth it.
LIVE Workshop: Dr David Moffet and Jayne Bandy:
“How To Easily Run, Maintain And Grow The Ultimate Dental Practice In 2022 and Beyond”
If you’re sick and tired of drilling all day long, and not having anything close to what you deserve, to show for it… or if you’ve ever wondered, “What can successful dentists POSSIBLY know, that I don’t?”… then register for this LIVE workshop Thursday November 25, 2021 in Sydney, NSW.
Need your phones monitored?
Are you concerned about the number of calls that are not being answered as best they can be?
You need Call Tracking Excellence.
For the cost of a less than one cleaning per week, you could have your phones being answered much much better….
Convert more calls into appointments…Click the link: http://www.calltrackingexcellence.com
Call Jayne on 1300 378 044 or email Jayne@theDPE.com for more details.
Have you read my book , How To Build The Dental Practice of Your Dreams [Without Killing Yourself!] In Less Than Sixty Days.
You can order your copy here: Click Link To Order
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.
Email me at email@example.com