Dental Practices can’t just phone it in
/0 Comments/in Customer Service, Leadership, New Dentist, Uncategorized, Values Over Profits /by Kevin CoughlinYour front line team members are the first client/customer facing representatives anyone comes into contact with when they call or enter your dental practice. Hopefully you’ve trained them to be both empathetic and professional. Let’s say you’ve gone a step further and they are also well – versed on best practices surrounding customer care. That’s it, you’re done!
Not so fast.
What happens where they’re engaged with a real life customer and the phone rings? Is your answering system as good as your staff? If not, then you have a big hole that needs a filling.
First off, the phone should be answered within four rings. If staff are too busy to do so, let it go to the answering system. Nobody wants to hear, “this is Dr. Smith’s office. I’m going to have to put you on hold.”
If it isn’t possible for any member of your team to grab that phone call within four rings, your message has to be the next best thing to speaking to a real person.
First, the answering system should allow patients a choice. They should be allowed to leave their name and phone number along with a request or question. Alternately, the caller should be able to opt to stay on the line and wait. But if they do so, it is vitally important they are reminded every 30 seconds that you haven’t forgotten about them and that someone will be with them shortly. If, after two minutes, they are still waiting, they should have an additional option to leave a message. Here is where you differentiate yourself by promising to return the call within 15 minutes. Why is this important? That 15 minutes buys your time before they call another practice to set up an appointment.
Still not convinced about the importance of this seemingly minor issue? I’ve got a simple test for you. Do you remember the last time you were put on hold for a long time? Did you call back? I would guess you might have moved onto another provider.
We are all busy. But that doesn’t mean you don’t have time for clients. How you treat someone when you are busy speaks volumes about how much you would value them as a customer.
If you want to talk about how I can transform your dental practice into a customer service dynamo, please get in touch.
The most important person in your practice is the first and last one to see your patients
/0 Comments/in Customer Service, Leadership, New Dentist, Values Over Profits /by Kevin CoughlinSo you’ve got a dental office with technicians and great patient care specialists. Who’s the most important person in your business?
The answer is surprising to some. The surprise is that it’s not you. It’s actually the front-desk person. They are a patient’s first and last point of contact. They set the tone for the patient’s experience at your practice.
He or she must possess patience, knowledge, grace under pressure, and the ability to show empathy, along with being efficient and effective.
When recruiting for this crucial position, the following skill sets are of key importance:
∙ Sales skills
. Telephone skills
∙ Gathering and interpreting data
∙ Patient orientation
∙ Developing and providing information about a comprehensive treatment plan
∙ Reviewing financial options for the patient to receive care and treatment
∙ The ability to generate reports to assess the success and progress of your business team
∙ Review and make necessary adjustments to procedures and processes through daily, biweekly, weekly, or monthly meetings and discussions
As you can see, this is a position that goes well beyond “receptionist.” Your front desk person has to wear many hats throughout the day, and it all starts with how they answer the phone.
If you want to talk about how I can make your dental practice a dynamo in customer service, please get in touch.
Guidelines for building an effective team
/0 Comments/in Leadership, New Dentist, Values Over Profits /by Kevin CoughlinTo me, T.E.A.M. means “together employees achieve mastership.”
It’s a convenient acronym. But it’s more than that. In order for it to work leadership has to
make sure its team has the tools to succeed. Training, education, attitude and money are
the building blocks. Take away any of those elements and your team is just a gathering of
paid employees.
Experience has taught me that people, who both want and need employment, are the ideal candidates for building a great team. I’ve seen how people who hate their jobs and those who don’t need their jobs are never really fully committed to them.
Commitment, loyalty, trust and a desire to work are the ingredients for fantastic employees
who become integral parts of amazing teams. And at the risk of sounding somewhat agist -
and having been a former member of this cohort - I’ve found people in their 20s go through
so many of their own changes that the odds of them still being with your team into their 30s
is not great. That doesn’t mean you shouldn’t give young people opportunities. But do so
knowing that your job is probably seen as a stepping stone to something bigger and better.
The average dental office will have fewer than ten employees. That works in the owner’s
favour. Managing and coaching a small staff provides excellent opportunities for
mentorship and skills development while also delivering exceptional service to the patients.
But that tidy size comes at a price. Fewer staff means difficulties in times of family
commitments, illness and such. However when you have a real TEAM they pull together
and help each other out - so that your patient experience doesn’t have to suffer.
Another quality I look for when building a team, is a person’s marketing, sales and
business experience. Knowing the field of dentistry is a nice but not necessarily essential
skill for an employee to have. If forced to choose between someone who is knowledgeable
and one who has great sales and management skills, I will always pick the latter. Clinical
skills can be taught; teaching management and sales are much more difficult.
That doesn’t mean your team should be devoid of dental experience. You will always need
to have individuals with a background and knowledge of the dental business and dental
hygiene. I would be lying if I said it is easy to find such individuals; in fact, it is extremely
difficult. In some cases, it may appear impossible, but it can be done.
There is an old adage in business that for every $10,000 you pay a person, you should
spend a month to find the RIGHT person. What that means is that if you’re going to pay
someone $50,000 a year, you should be willing to spend five months on the hiring process.
I can’t emphasize that enough. It is a critical step in accomplishing your goal of developing
the ideal dental business. Not selecting the right individuals when putting together your
team will result in an enormous cost to you and your organization over the long run.
If this sounds like a lot of work - it is. But it’s the kind of work that if done right, will be pay dividends every day you open your doors.
Three simple rules for passing on your dental practice
/0 Comments/in Corporate Dentistry, New Dentist /by Kevin CoughlinThey say you can’t take it with you. And it’s certainly true of dental practices.
Whether you plan on passing it on to family members, selling to a corporation or even another practitioner, there are three simple rules to keep in mind.
Rule 1: Value does not equal price. Value is an estimate of the financial worth of a practice determined by formulas. Price, however, is determined by the careful dance between how desperate a seller is to sell and how determined a buyer is to buy.
At present time, most of the dentists I know above the age of 60 cannot wait to sell their practice. Typically, the dental practice is one of their largest assets and is generally considered the best way to ensure a happy and secure retirement.
Rule 2: Gross production is not what you want to purchase. A much better determinant of the value of a practice is really net income. So whether you’re considering selling your dental practice or making a purchase, it’s critical that you look at net income from the seller’s tax returns related to the practice. What a buyer should look for before making the purchase is the dental practice’s ability to make a profit. So as a seller the number one goal is to make the practice as profitable as possible before putting it on the market. The more profitable it is, the more valuable it will be to a would-be purchasers.
Rule 3: Never buy a practice’s potential, only the present or historic value. Future profits can be uncertain. Many times I’ve had someone say to me, “Dr. Coughlin, I’m thinking about buying a practice. It has great potential.” You really want to make your purchase price based on today’s value, not what tomorrow’s value might or might not be.
I cannot emphasize enough that even if you feel you’re not interested in selling your practice or you’re not considering buying a practice you should be prepared to sell at any point in time.
If you are considering buying a practice or selling your own practice, I may be able to help. My coaching services leverage over 30 years of real experience growing my business from one practice to 14.
Contact me today and let’s make sure you make the best and most profitable decisions based on your current situation.
The tricky path from dental school to dental practice
/0 Comments/in New Dentist /by Kevin CoughlinAlthough it’s been a few years since I walked out of dental school with my degree in hand, I still think about new graduates going from the halls of academe to their careers in a dental office.
When today’s dentists start their career, most will be unable to purchase a practice. A quarter million dollars of student debt will make certain of that. Further, most lack the basic business knowledge to run a small or medium size business. If that seems odd, it’s because since they entered high school, the sciences have been their focus and following that, four years of an intense dental education.
Fix a tooth? Easy. Seeking out suppliers? Not so much.
So it’s been encouraging to hear that most dental schools are starting to provide at least sixteen hours of practice management education. The goal is to prepare these young businessmen and women how to make sound business decisions. Are they going to join a group practice, corporate dentistry, become an associate with an existing practice? Ideally this training will help them dovetail these options with their own personalities, ambitions and drive to find the right path to follow.
Consider the private practice option.
In my experience if a dental student is considering going it alone, the process should be begin in dental school.
They likely know that after the graduation accolades fade, the reality of starting their professional life will come rushing at them faster than their first loan repayment installment.
There are several stages that a practice goes through when you’re looking to either purchase or start your own.
Stage one is simply opening up one’s own practice de novo: put a shingle on the door, market the hell out of the practice and yourself and hope to God you have a patient base to both support your debt and provide an income that’s necessary for you to survive. In general, you will need approximately 1,800 active patients, meaning that those clients come to your office at least every 18 months to make it work.
Sound impossible? Most realize it is, which is why it’s done so rarely right out of dental school. Many opt for a way to ensure steady income while they pay down their student debt and put their solo dreams on hold.
If you are considering starting up your own practice, I offer personal coaching for dentists help you navigate the business end of dentistry. It may be the wisest investment you make because I can quickly tell you whether or not this is a smart decision.
And if you do go through with it I’m here with over 30 years experience running 14 practices to help you implement the processes and procedures to help you build the practice of your dreams.
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Listen to the podcast
- E177: Kimberly and Tiffany Nguyen: Unleashing the Power of Technology in Dental Practice Management with Asper Dental – Part 2March 22, 2024 - 8:00 am
- E176: Kimberly and Tiffany Nguyen: Unleashing the Power of Technology in Dental Practice Management with Asper Dental – Part 1March 8, 2024 - 8:00 am
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- E174: Matt Allen: The Most Effective Data-Driven Solutions for Dental Practices – Part 1February 9, 2024 - 8:00 am
- E173: Adam Carroll: The Best Way to Get Rid of Debt Quickly – Part 2November 25, 2023 - 8:00 am
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