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Reactivation Game – Make “The Chore” Fun!

REACTIVATION “RAX” GAME
Make “The Chore” of Chart Auditing Fun!
By: Wendy Nix

Every team struggles from time to time with being consistent with chart auditing. With this being a potentially HUGE accelerator for any practice, it is a necessary and effective tool to quickly increase productivity and stimulate immediate growth to the hygiene schedule. The RAX game is a great way to motivate and encourage the team with healthy competition that is fun and beneficial to everyone.

Target Goal: Everyone to get 5 “RAX” patients in the door monthly and collectively with individual and team incentives.

Incentives:
Individual= 5 “RAX” patients in the door within that month will receive a $50 cash bonus for their efforts.
Team= If everyone hits 5 “RAX” goal individually, the entire team will receive a “jackpot” prize in addition to the $50 individual bonus.

Rules/Guidelines:
Team agrees to follow the chart auditing protocol/guideline provided by their Fortune Management Coach, which is inclusive of researching the chart prior to making the “RAX” call
The chart auditing point person will supply the team with lists to work off of. See your Coach if help is needed in pulling lists.
Team members must put notes in patients journal/account with initials which verifies the research has been done and the call has been made with the results of the call
“RAX” needs to be clearly marked on any reactivated appointment made to identify the reactivated patient, and discussed at AM Huddle (why they’ve been away from the practice, any needs/concerns, etc).
Target starts over monthly, no rolling over.
Monitoring is a must!
When patient calls back to schedule, the last person who left the voicemail gets the credit.
Calls should take place 2 months apart, minimum. Any sooner is not encouraged unless the patient gives permission for a sooner follow-up call to take place. Then, that teammember is responsible for the designated follow-up call and gets the credit, if they schedule. IF teammember fails to follow-up, next teammember to call the patient 2 months later receives credit.
Credit for the “RAX” goes to the most recent person that LM with note/initial in the journal/account, as long as it’s been 2+ months since last call.
No hoarding or being proprietary of names unless you have noted permission to follow-up. Then, and only then, is it encouraged.
$50 bonus announced and given at 1st team meeting of the following month and is in addition to their normal bonus model (BAM).
Jackpot prize to occur within 30 days of prior months close (example: April’s jackpot rewarded in May) and Doctor chooses the prize!

Jackpot Ideas:
-Team/family dinner
-Spa day or gift certificate
-Shopping spree
-Catered lunch
-Gift certificate
-TopGolf or Miniature Golf team trip
-Family Movie night
-Paid day off (extra day around the holidays)
-Family day at the Waterpark
-Theatre/Opera Tickets
-Sports tickets
-Airfare ticket/certificate
-Mystery grab bag (with cash, gift cards, certificates of value)
-UPW tickets (Unleash the Power Within –Tony Robbins)

-Note to Doctors: the prizes can be anything that will resonate with the team and shows them that you appreciate them in some way. This is your opportunity to give back to a high performing, committed and invested team! Be grateful for them and give back ungrudgingly. Come from abundance and your team will do the same in return. And have fun, this is a WIN-WIN for your practice, your team and most importantly, your patients!

Marketing The Experience

MARKETING THE EXPERIENCE
BY WENDY NIX

Marketing is crucial and necessary to achieve exponential growth in any practice, at any stage. A typical question I hear is “how much should I budget towards marketing and what will give me the best return on my investment?” The answer may surprise you…

There is of course, Internal and External Marketing. Asking for referrals from your patients, getting your name and branding/identity out into your immediate community, having a Care to Share program, all are great ways to market effectively while keeping your costs down. The best form of marketing that often gets overlooked, has minimal costs and produces the greatest results is the patient EXPERIENCE…

All too often, I see practices that are so busy, they forget to “BE”… be nice, be friendly, be attentive. You need to ensure that the patient has a great experience at every single visit, from the initial greeting to the checkout process, every step is imperative to the practice. Every staff member plays an integral part of that process, and if your team has not taken the time to develop and fine-tune your patient experience, then you’re not effectively marketing. In fact, you could be setting yourself up to receive a bad review.

Here are some key points on how to give your patients the “WOW” experience at every visit:
• Ask: how do you know what your patients need or want without asking them questions? “What’s most important to you in the dental care that you receive” “why did you leave your last dentist” and “if you had a magic wand, what would you improve about your smile?’ All of these leading questions open the door for conversations that will help you to understand your patient, how to better serve them and what you can do to ensure they return to you for all of their dental needs.
• Listen: Now that you’ve asked, you need to honor your patients requests. This will take a high level of follow-through and dedication on your teams part. Make notes in your patients chart when they share what’s most important to them, how you can serve them better, and all of the things they’ve shared with you. The worst thing you can do is drop the ball, forget what they said and ask them again. You built a rapport and trust with your patient, now make sure you take the proper steps to ensure you always remain in relationship with them and exceed their expectations.
• Environment: Do you offer a warm, friendly, hospitable environment for your patients? Are you sure? When was the last time, Doctor, you listened to your team…how do they answer the phone? Greet your patient? Converse with them chairside? What is the state of your facility and operatories? Old and outdated or streamlined and sterile? All of this immediately reflects your “hospitality environment” or lack thereof. Take the time to have your team reflect on what message your practice portrays to your patients, and mastermind together on how you can immediately improve in any and all of these areas.

There is no right or wrong answer in how much time and effort to put into marketing your practice. Ultimately, what will get you the best long-term results is to market yourself and your team. Empower your team to go above and beyond and give your patients an exceptional experience at every visit. This not only makes for happy, lifetime patients who will be your greatest referral source, it also makes for a happier staff and a happier environment. All in all, your best investment is in your people, so don’t forget to take care of them too. Acknowledge your teams efforts, motivate them and let them know they are doing a great job…see the transformation it will make. I know first-hand what this can do for a team. Our philosophy at Fortune Management is to grow the practice, you grow the team. And the team directly impacts your patient’s experience. It goes hand in hand.

Triple Your Production in 3 Simple Steps!

If the title didn’t get you, maybe a few statistics will. A Tennessee practice increased their monthly production from just under $80,000 to more than $200,000 in less than 6 months. An Arkansas practice increased their monthly production from $50,000 to $150,000 in less than 12 months. Are you interested? If you could double or even triple your practice in two or even three years, would it be worthwhile to adopt and integrate a few simple strategies?

There are only 3 ways to grow a practice… only 3!!!

1. Get patients to buy more.

2. Get patients to buy more, more often.

3. Get new patients.

If this sounds logical, it is because it is. Question, why doesn’t every practice do it? Because it requires a team, not a staff! It requires individual accountability, not doctor management. These three systems will support you in maximizing each of the three criteria for promoting growth in your practice. You must be prepared to have the highest paid staff in your area, if they earn it. You must be willing to maximize all the human potential in your practice. What if your staff salaries as a percentage of collections is 20 percent, and the team is excited about it? If so, adopt these 3 systems, incentivize your team proportionately, and turn them loose!

1. Hygiene Reactivation

Do you know your Re-Care Effectiveness Rate? It is the percentage of your active patient base that consistently shows for their hygiene appointments. Why is this number important? Because it is without doubt the fastest way to grow your practice. Think about this… you generate approximately two dollars in treatment for every 1 dollar in hygiene. Now imagine if your Re-Care Effectiveness Rate doubled. What does that do to your production? The answer is extraordinary growth. The industry average is about 35%. Let’s say a practice at 35% increases their Re-Care Effective by 5%. Not a huge increase and certainly not a difficult task. That 5% increase will in turn generate a 10% increase in treatment. That’s a 15% increase in overall production. This is an example of getting your current patients to buy more and will have a substantial impact on your production and profitability.

2. Treatment Reactivation

How often do you have patients begin a treatment plan, but somehow they never complete it? Have you ever had a treatment plan change between hygiene appointments? Treatment reactivation helps you and your team support patients in completing their plans so you can ensure their oral health is improving. Remember this… only 3% of your target market is buying what you’re selling at any point in time. It doesn’t mean they’re not interested… it just means they are not interested right now. There are a thousand scenarios that may be preventing a particular patient from moving forward with the next phase of treatment right now. At some point in the consumer life cycle, they will be in that 3%… and you better make certain you are in front of them when they are. This is how you get patients to buy more-more often. Dr. Paul Bass says, “My persistence is greater than their resistance!” Be persistent in your approach to ensure your patients receive the best care.

3. Marketing

Do you know your New Patient Conversion Ratio? It is the cumulative value of a new patient to your practice. The number of new patients to your practice feed your reactivation efforts, your long-term growth, and replaces any attrition you may be experiencing. Why it is important? Because without it, you don’t know how many new patients you need each month to support the attainment of your production goals. Most likely, you’re currently getting as many, or slightly more, new patients than you are losing, which results in little or moderate growth. Is moderate growth good enough? Are you comfortable with little or moderate growth or would you prefer sustainable and long-term growth? The choice is yours.

Let’s say you have an active patient base of 1,100 patients, which is enough to sustain a million dollar practice. If you are only experiencing 10% attrition but aren’t doing any marketing, how long are you going to stay in business? 11 years is a short career. How much time did you invest in your education? Most doctors have plans of selling their practice at some point to support their retirement. Your practice should be an investment, and all good investors know that you buy when the price is low and sell when it is high. Are you producing what you want to at this stage in your career? If not, leverage the power of reactivation and marketing to create measureable, long-term growth.

Written By: Richard Vessels

 

Differentiation & Diversification – Key to Practice Profitability and Exponential Growth

The primary goal of every dentist and dental practice is to provide excellent dental care by earning patients’ trust, building relationships and ensuring a positive dental experience. But in order to do so, dental practices must be financially sound, enabling dentists to keep supplies replenished, maintain adequate staff and invest in the latest services, products and equipment.

INCREASE PRACTICE PROFITABILITY

Beginning a new dental practice or growing an existing practice may seem like a bloodcurdling task. As we know, there are only so many hours in a day, a limited number of patients to be seen per day, increasing costs of doing business, and a changing economic climate year by year. The solution; however, is not to work longer, harder, faster hours… but to work smarter.

Differentiation: In today’s competitive world, dentists must not only be the best at what they do, but also different from their competitors in order to continue growing. What makes your practices and services better than the dentist down the street? What do YOU have that your competitors don’t?

blog #2Diversification: Broadening the services and products you offer to patients has many distinct advantages: unique offerings will draw in new clients and can be used to up-sell existing ones. Expanding and diversifying is what motivates and inspires dentists and their staff members to expand their knowledge, try new things and renew their enthusiasm for work.

There are five business hats that dentists are accountable for, which are: the INVESTOR hat, the CEO hat, the PROVIDER/TECHNICIAN hat, the TEAM hat, and the MARKETING hat. All hats demand a VALUE ADDED ROI.

As they say, “work smarter, not harder!” What are YOU doing different in 2014 to make this your best year yet? Remember, if there isn’t significant improvement, then settling for mediocre will continue to be your reality.