What Are the 5 Business Engines?

Dental Consultant Chicago

A high-performance automobile engine needs its pistons, cylinders, gears, valves and spark plugs to work together seamlessly. A successful dental practice needs its financial, systems, people, sales & marketing and clinical systems to work at 100% capacity. If just one of those systems is struggling, the entire practice struggles. 

At Fortune, we start with the doctor’s VISION for his/her dental practice. As Lewis Carroll said, “If you don’t know where you’re going, any road will get you there.” Do YOU know where you want to go? The dentist needs to have a crystal-clear picture of his/her “ideal” practice:

  • What does it look like, smell like, sound like, feel like?
  • What kind of dentistry do you want to deliver?
  • What does your ideal patient look like?
  • Do you know your “why” for why you practice dentistry?
  • What is your bold statement for you, as well as for your practice?
  • How many days do you want to practice each year?
  • What does your ideal team look like?
  • What is a “perfect” day in your office? How many of those do you have each week? Each month? Each year?
  • How profitable do you want to be?
  • What are your one-year, three-year, five-year and ten-year goals?

If you’re struggling to answer any of these questions, I can help!

Finance

  • P & L
  • AR’s
  • Percentages in ratio
  • M & A’s – mergers & acquisitions
  • Associate Dentist
  • Adding weekend hours
  • BAM
  • Financial Policies & arrangements
  • 3rd party financing
  • In house plans – Plan for Health
  • Monitors
  • Production/collection ratio
  • OTC collections
  • Discounts
  • Purchase location
  • Doctor’s financial goals
  • Planning for Retirement
  • Wealth Management
  • Debt management & restructure

People

  • Hiring and training new team members and associate dentists
  • Staff roles and responsibilities
  • Communication
  • Job descriptions
  • Monitoring
  • Manuals & HR documentation
  • Hiring & firing
  • Embezzlement
  • Agreements
  • Culture
  • Sourcing & accountability

Clinical/Technology

  • New technology
  • Intra-oral cameras
  • CAD-CAM
  • 3-D scan and print
  • CBCT
  • Lasers
  • Digital radiography
  • Invisalign
  • Implants
  • New proficiencies
  • Adding specialists
  • E enrollment
  • Hand-offs
  • Patient Education

Sales & Marketing

  • New patient experience
  • Website
  • Social Media presence
  • Internal marketing
  • New patient wow experience
  • Ads – Sign
  • Patient retention – recare
  • Insurance
  • Case presentation

Systems

  • Bonus system – BAM
  • Huddles
  • New Patient experience
  • Team meetings
  • Referrals
  • Reviews
  • Schedule to goal
  • Recare Efficiency
  • Recare Effectiveness Rate
  • Sourcing & accountability
  • Perio program & percentage of total hygiene production
  • Reactivation
  • Treatment Plan Presentation and Acceptance
  • 5 steps of enrollment
  • AR

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