3.26.10 Issue #420 Forward This Newsletter To A Colleague

Are You Getting Your Monies Worth?
by Sally McKenzie CEO
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Doctor, are you getting your monies worth out of your practice these days? I know we’ve seen some challenging economic times. But the signs of improvement become more evident every day, and your practice is likely at a crossroads. As the recovery slowly unfolds, will your dreams remain locked in the nightmare that was the Great Recession or are you ready to reclaim your professional ambitions?

What if I told you that if you make a single management system change in your practice, from here on out there will 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 learning more? What if instead of $8,500 per month, it nearly quadrupled to $32,000 per month for a nice $384,000 extra a year? And for as long as you are in practice, no one could take that money away from you. Might you be willing to sit down and seriously think about what I have to say?

Would you stop and take notice? Would you say, “Yes! Tell me what I need to do to make that happen now!” Or would your response be, “Oh Sally, that sounds really interesting, but we’re doing our best to keep the schedule full, to collect from patients, to keep peace among my stressed out team, to figure out where the money’s coming from for the next expensive marketing campaign, and do the dentistry as time allows. I’d really rather be sick with worry, and regret the day I ever set foot in dental school, than make any change in the way we do things.”

Sound familiar? I never cease to marvel at what dentists will put themselves through. Doctor after doctor is virtually buried under the weight of unnecessary stress and anxiety, telling themselves all the while that “this is just the way dentistry is.” No it is not. This is the way you choose to spend your career - and why? Because you are afraid to spend a few days and a few dollars and make the changes necessary to improve the systems that will turn your practice and your life around. I suggest you explore a different path.

The figures in the second paragraph are real - $102,000, $384,000. They are an example of what McKenzie Management consultants recently were able to do in 90 days in just a few practices - extra income on top of what the practices were already bringing in. For every dollar these practices invested with McKenzie Management, they made up to $3.50. And that’s only the monetary return. Where else can you get that kind of a return on an investment?

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, 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 misinformation 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.” Swishhhhhhh a fortune down the drain. And for what? These doctors are happy for a while, feeling successful for today, but it simply 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 – regardless of the economy. Or you can increase your practice revenues and enjoy the ongoing payoff of proven strategies that have worked consistently for nearly 30 years.

Are you ready to get your monies worth out of your practice? If so, call me at 877-777-6151.

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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