Ne AlN PASEO Te WNT a et PRACTICE PERFORMANCE IN 2011 cre eee ernLevin Group. 000000000 TARGETS THAT WILL DRAMATICALLY IMPROVE PRACTICE PERFORMANCE IN 2011 Targets can take your practice from where it isto where you want it tobe. But targets can't do italone. You need to build systems to achieve targets, and the best, systems are built using value creation scripting. These three things— targets, systems and value creation scripting—are essential for practices to ‘row in this economy and realize their full potential Roger P Ccraiman & CEO Setting specific, measurable targets for your practice and Jmplementing the systems to achieve those goals are critical to creating a successful practice, Targets motivate you and your team to improve performance. When supported by step-by-step systems and value creation scripting targets are one of the best ‘management tools for jumpstarting growth and increasing production. Here are 10 targets your practice should aim for: Schedule 100% of new patients within 7-10 days. IF you make patients wait too long, they will seek dental care elsewhere. If patients are requesting your services, you ‘don't want to make them walt. With too much time on their hands, patients wil either become de-motivated or seek ‘eatment elsewhere. Reduce no-show rates to 1% of less. Neither the patient northe doctor benefits by a broken appointment, Obviously, you cant treat a patient who isnt there. Train your team to build value for appointments and, recommended treatment. Confirm all appointments 48 hours in advance via cell phone, texting and email, ‘Achieve 90% case acceptance. Patients who say “yes" wil have better oral health outcomes, and your practice will, experience greater success, Enhance the verbal skills of your team, Implement value creation scripting and role- play scripts during morning meetings. Collect 99% of your adjusted production. You deserve 10 be paid for the work you perform. Remember, you onlywww.levingroup.com 10 have what you collect, not what you produce. Don't try to play banker’ Use patient financing from a dental-knowledgeable company to make treatment more affordable patients ‘Spend 98% of your time on patient care. Delegate administrative tasks such as scheduling and collections to your well-trained staff who are using step-by-step systems. Remember, ‘you went to dental school to provide patients the highest levels of oral health care. You didn't become a doctor to ansuer phones and run the schedule—that’s why you have a team! Have 98% of your patients on the schedule. Patients should not eave the office without scheduling their next appointment. t's always easier dealing with patients face-to-face than trying to get them on the phone at home or work. Collect 90% of your accounts receivable within 30 days and the rest within 60 days. The longer it takes to collect, the greater the chance of non-payment. Emphasize to patients that payment should be made atthe time of service, including any insurance co-payments Have at least 40% of your patients refer someone else to your practice. Provide such 2 “WOW experience that they wil refer friends and neighbors. "Word-of- mouth’ advertising is, the most effective and least expensive form of marketing. Reduce overhead percentages by 5 -7%. Growing production isthe best way to reduce overhead asa percentage of collection. n addition, practices should look at every expense category for opportunities to reduce costs. The target for a GP practice should be 599% or lower. Specialty practices would have an even lower target. Grow production by 15% over the next 12 months. Your daly goal should be aligned with hitting this target. Put in the updated systems—case presentation, marketing, scheduling, etc. —that fuel practice growth. By consistently hitting the dally target, you'll achieve the annual goal. Targets are your key to greater success In 2011. Set challenging targets... update systems to reach those objectives... use value creation scripting to tain your team... Do all these things and youll have a more successful practice this year!