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At Ignite, we have come to realize that whilst dental schools are superb at passing on clinical skills to practice as a dental surgeon, these skills alone will not guarantee success as a practice owner (and therefore, a business person!).
More than ever before, practice owners are realizing that dentistry is both a profession requiring excellent clinical acumen, and also a business - requiring business acumen. Being an excellent clinician is not enough - it can and does cost many practices (and their owners) many thousands of pounds over the years. The solution is often simple and requires the implementation of data-driven business systems.
In a world where patients are more knowledgeable, vocal and demanding - they will judge a practice not by the accolades and technical skills of the dentist, but by the level of customer service, the time they have to wait and so on. In other words, they will gauge the expertise of the dentist not in the areas that they don't understand (i.e. clinical matters) but in the areas that they do understand - which is how they ‘feel' as individuals. Many of the successful practice owners we work with recognize that the combination of practice management skills with clinical expertise is the best way to run a profitable and fulfilling dental practice.
The achievement of maximum profitability without compromising high quality patient care should be the aim of dental businesses. Without effective leadership and efficient systems, a high stress low profit business will generally ensue.
The easiest and clearest way to measure progress is by monitoring the correct numbers or Key Performance Indicators (KPI's). These will typically include;
- Number of new patients
- Type of treatment carried out
- Number of enquiries generated (through referrals and through marketing etc)
- Conversion ratio of enquiries to patients
- Average production per patient
- Turnover
- Margin
The templates we create for our clients allow them and their teams to capture and analyze the data simply and easily. We even help create or update systems to ‘free up' time in a busy practice (which can be devoted to cementing strong relationships through excellent customer care).
Please take a look at the services we offer.
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