If you are like many dentists who would rather do dentistry than manage the business and supervise people, we can help. Our comprehensive array of leadership and strategic management services will enable you to lead your practice more effectively and make sound business decisions that direct your entire team toward success.
At Dental Practice Advisors, we define success as continuous business result improvement which reduces ownership stress, allows you to deliver high quality care to your patients and fully fund your retirement plan. We help you achieve this through sound business planning, paying close attention to where you are in relation to that plan and making timely adjustments as needed to stay on track.
These services include:
- Long-Term Strategic Planning
- Practice Assessments
- Annual Business Plans
- Monthly Management Programs
- Fee Strategy Consulting
Long-Term Strategic Planning
Organizations that are successful year after year clearly understand and actively pursue their ideal future vision. Most dentists spend the majority of their time working in the practice – and very little time working on the practice. Consequently, offices are missing valuable opportunities to improve their efficiency and profitability. We help you step out of day-to-day activities and identify your long-term goals and then adopt strategies and implement action plans required to achieve them.
Our one page strategic map process simplifies the seemingly complex and time-consuming process of strategic planning down into a few very manageable steps – identifying your core principles and values, crystallizing your high-level goals for the future and developing specific action plans that solidify the building blocks of your ideal future practice.
Analyzing short-term financial results alone may not indicate the true overall health of a practice – a complex set of systems, processes, and people. To properly assess a practice’s health, we will use our skills and experience to break down key profit and expense drivers and examine operating systems, processes and talent to determine if they are likely to consistently deliver improved operational and financial results.
We offer several practice assessment services to meet your needs:
- Comprehensive Practice Exam™ – geared toward existing practice improvement
- Vital Signs™ – annual check-up
- Associate Readiness Review – to determine whether you can support an associate
- Front Desk Review – for operations efficiency and role clarity
- Due Diligence Review – a deep dive into the practice you hope to acquire
Annual Business Plans
One of the most important steps toward long-term success is to break goals down into annual, manageable parts that you and your team can understand and act upon. It provides the framework necessary to translate your overall objectives into specific and meaningful monthly goals for each segment of your practice.
Your Annual plan is one of the most effective business tools at your disposal. It provides decision makers with a dynamic tool to evaluate performance and make sound business decisions and adjustments throughout the year. It is supported by well thought out action plans that help your team members attain desired results. This process promotes accountability and keeps your entire team focused on continuous improvement.
Monthly Management Programs
DPA’s management programs provide the complete performance picture and continuous support you need to effectively lead your practice forward. We provide a unique combination of monthly key performance statistics, enhanced management style financial statements, a monthly management memo which highlights variances and trends, and quarterly consultations that keep you fully informed and equipped to make course corrections at all times.
Our programs are tailored to your needs – comprehensive, summary or targeted to a specific problem. All levels of support integrate your annual plan, financial, payroll and practice management system information into one cohesive tool for proactive practice management. The output you receive is ideally suited to share with your staff members, so they develop an appreciation for how their efforts impact practice results. Many of our clients utilize this data as an integral component of their staff performance appraisal system.
Most dentists find the fee-setting process one of their most difficult and unnerving tasks. How do you know you are setting fees at a point that properly reflects the value provided while remaining competitive and staying in compliance with anti-trust law?
Dental Practice Advisors can show you how to create effective fee-setting processes that focus on using factors unique to your practice, such as clinical skills and advanced training; technology; procedure speed; variable lab and supply expenses; wages and fixed overhead costs; and your annual compensation goals as well as independent survey information on fee levels and market pricing trends.
We have helped hundreds of dentists gain confidence by understanding the relationship between their fees and the quality they provide. The result is a fee schedule that makes sense and can be reinforced by all members of the dental team. Our approach is three-fold:
- Fee Strategy Consulting – high level guidance
- Fee Survey with Volume Impact – specific market comparison
- Right Fee Solution™- fee setting model for complex dentistry