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9.12.08 Issue #340 Forward This Newsletter To A Colleague

I Won’t Get My Money’s Worth - Myth #3
by Sally McKenzie CEO
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What if I told you that from here on out there would be a check worth $8,500 waiting for you at the end of every month—an extra $102,000 a year? Would you be interested in finding out how to get your hands on it? What if instead of $8,500 per month, it nearly quadrupled to $32,000 per month for a nice $384,000 extra a year? Might that get your attention? Or how about $123,000 extra a month—for a cool $1.4 million in extra cash each year? And that for as long as you are in practice, no one could take that money away from you?

Would you stop and take notice? Would you say, “Yes! I need it and I want the extra cash. Make it happen now!” Or would you say, “Oh Sally, that sounds really interesting, but I just don’t have the time to talk about another $100 grand, $200 grand or million extra bucks for me. Because I’m just so darned busy scraping by, trying to keep the schedule full, trying to collect from patients, trying to keep the office staffed, trying to write a peace agreement between the back and the front and trying to do the dentistry as time allows. I’d really rather beat my head against the wall, be stressed to the max and regret the day I ever set foot in dental school. But, hey, thanks for thinking of me.”

Sound familiar? I never cease to marvel at what dentists will put themselves through. These individuals who insist on precision, excellence and the highest level of quality from themselves will tolerate untold suffering, expense and lost opportunity month after month in their practices. Why? Because they are afraid to spend a few days and a few dollars and make the changes necessary to improve the systems that will turn their practices and their lives around. They are wedded to the third item on the practice management “myth list”: “I won’t get my money’s worth from a practice management consultant.” And they couldn’t be more wrong.

The figures in the first paragraph are real—$102,000, $384,000, $1.4 million. They are an example of what McKenzie Management consultants recently were able to do in 90 days in a few practices—extra income on top of what the practices were already bringing in. For every dollar invested with McKenzie Management, you will make $3.50. Where else can you get that kind of a return on an investment? Certainly not with Fannie or Freddie! And that’s only the monetary return.

The dollar figures alone don’t begin to account for the huge improvement in your quality of life, less stress, more enjoyment, retirement savings, a team that respects and works well together for the betterment of the practice and individual staff who understand their roles and are ready to deliver not 40% or 80% of the time but 100%. And it doesn’t stop there; it carries over to your patients who are educated to understand what dentistry has to offer and appreciate the care that you deliver.

Still, for some doctors, the logic, the numbers and the results simply cannot overcome the long-held “myth-information” that all they have to do is launch an expensive marketing campaign, bring in a few more new patients and everything will be just fine. I can hear it now… “The last campaign only cost me $20,000. I had tons of calls. The phones were ringing off the hook. I got 20 new patients. Ten of them haven’t been back since the initial offer and I think I might need to invest another $15K as a refresher, but hey, it was worth it.” Swishhhh!—a fortune down the drain. And for what? These doctors are happy for a while, feeling successful for today, but it doesn’t last because the internal systems are crippled.

The choice is yours. You can keep throwing money away on old ideas and broken systems that continually fail. Or you can increase your practice revenues by 25–30% in the first 90 days and enjoy the ongoing payoff of proven strategies that have worked consistently for nearly 30 years.

Are you ready to get your money’s worth out of your practice? If so, call me.

Interested in speaking to Sally about your practice concerns? Email her at sallymck@mckenziemgmt.com.
Interested in having Sally speak to your dental society or study club? Click here.

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