BulletProof Dental Practice podcast
BulletProof Dental Practice podcast
A weekly podcast by Dr. Peter Boulden and Dr. Craig Spodak, designed to help you grow your practice through two pillars of success; Systems and Marketing
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Your Practice Sweet Spots with Dr. Jesse Green

Your Practice Sweet Spots with Dr. Jesse Green

5/31/2018 11:57:00 AM   |   Comments: 0   |   Views: 68

Your Practice Sweet Spots with Dr. Jesse Green

Listen on the website

http://www.bulletproofdentalpractice.com/your-practice-sweet-spots-with-dr-jesse-green/

Text ‘bulletproof’ to 345345 to stay in the know about upcoming book release and the Bulletproof Summit on October 12-13th 2018 in Atlanta!


Bulletproof Dental Practice Podcast Episode 66

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Dr. Jesse Green, Dentist, Author, Founder of Savvy Dentist Podcast and Practice Max

Key Takeaways:

        
  • Adding more new patients to your practice will highlight the problems in your office.
  •     
  • Success is all about making sure there’s net growth. You can’t just work to get new patients without making sure you’re taking care of your existing ones.
  •     
  • Make sure you have leadership in charge, not just in place. 
  •     
  • Following systems allows for consistency but you can’t overdo systems, there should be some amount of flexibility. 
  •     
  • Create frameworks for conversations with patients, instead of scripts.
  •     
  • The best strategy for retention is relationships. “Don’t be a dickhead.”
  •     
  • Having regular communication with your team and understanding what they want from you is the best way to retain your team members. 
  •     
  • Make sure all decisions have a triple win: your business wins, the patient wins, and the team member wins. 
  •     
  • If you can have alignment about the goal for the team then you’re moving in the right direction.
  •     
  • Every time you have staff turnover you’ll have a dip in productivity. 
  •     
  • There’s a sweet spot for profitability. Bigger is not always better. Pay more attention to profitability than size. 
  •     
  • In Australia, 4-5 chairs in a practice is a sweet spot. It’s small enough to manage, you can make it very profitable, and you can replicate it more easily. 
  •     
  • You have to understand your positioning in the marketplace; whether you’re volume, boutique, etc. 
  •     
  • Convenience is critical. 
  •     
  • There are three ways to increase revenue:     
              
    • See more patients (marketing, how do you get more out of your chair, etc.)
    •         
    • See those patients more frequently
    •         
    • Increase the average dollar spend per patient
    •     
        
  •     
  • Small changes in those categories compound across your practice. 
  •     
  • Marketing Three R’s:     
              
    • Recruit new patients
    •         
    • Retain existing patients
    •         
    • Reactivate people who might have fallen off the bandwagon
    •     
        
  •     
  • The things that move the needle most are “critical drivers.” What activities are your team doing that produce the best results? Focus on those activities.     
              
    • Ask for referrals
    •         
    • Ask for Google reviews
    •         
    • Multiply the booking
    •         
    • Focus on presenting x number of treatments per day, from there you’ll have the conversions you’re looking for
    •         
    • Morning huddles, productive staff meetings
    •     
        
  •     
  • Proposed treatment vs. enrolled treatment (acceptance rate) – shoot for 80-85%.     
              
    • Depending on your preferences, that acceptance rate can be closer to 66%.
    •     
        
  •     
  • Net profit: including salary of principal, your net profit should be around 20%. 
  •     
  • Everything is about the cash flow.

References:

 Retention: How to Plug the #1 Profit Leak in Your Dental Practice by Dr. Jesse Green


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