Home Practice ManagementManagement How To Dramatically Increase Your Net Take-Home Pay and Practice Profits… It All Starts with Asking the Right Questions…

How To Dramatically Increase Your Net Take-Home Pay and Practice Profits… It All Starts with Asking the Right Questions…

by partica

Are you making all the money you deserve from your practice? Were your holidays stressful due to lack of money, or, were they a breeze because you had all you needed or wanted? Are you confident with your income or embarrassed?

Do you have all the time and financial freedom you were hoping dentistry would provide? If you answered “No” to any of these questions, don’t worry, you’re not alone. And, frankly, there’s a good chance it’s not your fault. After all, dental school didn’t prepare you for running a business, did it?

In nearly 25 years of working with dentists and practices of all shapes and sizes, including 15-years owning a small group practice myself, I’ve learned there are two types of Dentists: Those who are successful and those who always seem to struggle.

Here’s the BIG secret: The difference between the successful dentist and one who struggles is directly linked to the questions they ask. You see, what questions you ask and how you ask matters. Why? Asking the right question (and ultimately better questions) yield dramatically different outcomes. Asking the wrong question about any situation you find yourself in or hope to (as in reaching your goals) may well give an answer that is polar opposite of what it must be in order to succeed.

The quality of the question matters. Remember the old saying, “Garbage in (question), Garbage out (answer)?”

The first step in solving this dilemma is to self-identify which Dentist you might be. Ready for a little pop quiz? Pay close attention to the difference in the questions asked by these two types of Dentists:

POP QUIZ: Which set of questions do you identify with most? The dental “reactionary’s” or the opportunists?

The questions a “dental opportunist” asks:

• How Can We Differentiate this Practice?

• How Can We Leverage Social Media to Engage Potential And Existing Patients?

• How Can We Beat Insurance Cos. at their Own Game?

• Why Retire At All?! & How Much Will My Dental “Enterprise” Be Valued At?

• How Can We Enhance the Practice’s Service To Our Patients?

When Should We Integrate A CEREC or Other 3D Tech?

• How Can We Be THE PLACE Dental Professionals Want to Work?

• How Can We Provide More Value for More Patients at a Fair Price?

The questions a “dental reactionary” asks:

• Will the DSOs Steal All My Patients?

Will Bad Reviews on Social Media RUIN My Practice?

• Will Insurance Cos. Ever Increase My Reimbursements?

• How Will I Be Able to Retire & What Will My Practice Be Worth?

• How Will I Compete Against 7-Days/Week, 12-Hours/Day Dentistry?

Can I Ever Afford to Buy New Technology?

• How Will I Replace My Rock-Star DA that Just Left?

Will New Patients WANT My Dentistry for Twice the Price?

Did you identify more as a “reactionary” or an “opportunist?” Or, somewhere in the middle? Do you see the difference in the questions posed and how the answers can provide for dramatically different outcomes? It’s easy to see now, right?

Doctor…If you want to be a Dental Opportunist and suck every possible bit of good from dentistry while giving back, then claiming a copy of The State of Dentistry® 2019, is the next move.

If you identify more as a dental reactionary, now is the time to upgrade your thinking and actions so you’ll not just survive, but thrive in the coming seasons.

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