Published in Our Bite-Sized Practice Management Newsletter
I recently spoke with a CPA/CFP who has worked with dentists throughout the country hone their financial vision for 20+ years. I asked him to share some insight as to what dentists should be focusing on as they put a capstone on 2021 and game plan for 2022. Below is what he shared:
In this tight job market, discerning dental candidates want excellent compensation as well as a great working environment. Ideally, you want to attract candidates who value personal and professional growth. This article describes what you can you do to create this kind of culture so that that these candidates are eager to work with you.
Last week, I wrote an article, The Holiday Gift Dilemma, about how to make the mandatory office cash bonus more interactive and meaningful. But since then, a few of my clients have asked additional questions about what amount of money they should give their team members for their holiday gift. So, this Ask Sharyn responds to everyone’s joint confusion: How much cash should I give my team at Christmas?
Every Dentist In the USA
How would you describe your role with patients? Do you see yourself as the white knight hero swooping in to rescue them from gum disease or as a sage guide offering advice on how to have a healthier mouth? In this article, we will explore who should be the “hero” in your practice and how this perspective could change your approach to presenting treatment options.
Do you have to give your dental team a holiday “gift” every year? Is there any way of making this expectation more meaningful? Here are 5 alternatives to simply handing out checks to your dental team.
Why do some dental office teams thrive while others struggle? What do the dentists at successful practices have in common? And most importantly, can their skills and attitudes be taught and replicated at less successful practices?
Money solves a lot of problems, right? But more money via a bonus system may not be the answer to motivate your team. What will?
If I had the one secret to how to successfully motivate patients and employees, I’d be eating bon-bons in my mansion in the countryside. But having studied motivational research and observed dental practices for the last 20 years, I can tell you what doesn’t work and I can advise you what you should do instead.
Well, I’m famous. Recently I was interviewed by Art Weiderman on his Dental and Financial Planning podcast where we talked about the Do’s and Don’ts of employee compensation. And I have an article coming out in the November issue of Dental Economics called, “Why You Should Ditch Your Bonus Plan.”
I recognize that many dentists feel that their patients have become insurance zombies – mindlessly repeating that they will only do what their plan allows. In the past year, several dentists I work with have decided to leave their worst plans or to get out of managed care entirely. But how do you know if you should leave? How do you determine if your practice has become so subsumed by the insurance mindset, that you have also turned into an insurance zombie?
One of my closest friends is the office manager of a dental office where I used to consult. Through her I get the inside scoop on the continuing soap opera at her office and an employee’s perspective of how a dentist can break down his employees’ will to live. Let’s learn from his mistakes.
Today I talked with a dentist about his less than stellar case acceptance. In fact, we’ve been tracking his case acceptance for new patients and it’s around 50%. This dentist has been around the block with me for awhile so instead of me lecturing, I asked him three diagnostic questions so he could evaluate his own practice. Read on to learn the questions that sparked this dentist’s breakthrough realization.
View your current payroll costs at a glance and forecast the impact of potential raises. You will be able to see any compensation inequities, compare payroll costs to your production and calculate the costs of proposed raises against your production goals.
“As an Office Manager, I’ve seen a great difference in my practice since starting with Sharyn. Three years ago our staff was in turmoil with a lot of infighting and gossip and some jealousy directed towards me.
I had given up because everything I did was judged. Now I have learned to have more one-to-one communication and by being more vulnerable with individuals I found my leadership voice. As a team, we’re all focused on the same goals.
Last year, in August we produced $88,000. This year we’re on track to produce $111,000 this month. I know it’s because we learned how to follow through with patients and communicate our expectations while building our systems.
Sharyn has gotten us out of our comfort zone and inspired us to dream bigger and it works.”
