The Business of Dentistry – A Seven Part Series: Part 7

Measurement

How do you know if you are doing well? How do you know if you are not doing well? How do you know what is working and what isn't? If you don't have defined goals and milestones how will you measure success? What you choose to measure should reflect your goals. For instance, if your goal for 2012 is to increase your net income, then you want to measure production, case acceptance as it relates to production, accounts receivable, overhead, lab fees, supply costs, technology investments, and marketing expenses. We recommend that you hold quarterly team meetings to review your goals, your numbers, and discuss best practices and tactics to make changes if necessary. Remember, what gets measured, gets done.

Conclusion

You have a couple of more choices to make. Is working on your business something you want to do in 2012? If so, do you want to do it alone or seek guidance from business experts? Doing it alone will take time, knowledge, determination, communication, perseverance, and discipline. Working with a practice management firm will take time, determination, communication, perseverance, and discipline. Knowledge is the key. You don't have time for trial and error. Practice management firms have a depth and breadth of experience from proving their systems over many years to many clients. They are the business experts, you are the dental experts. Together you can build a great dental business.