We're nearly at the halfway point for 2017. Are you on target to reach your goals for new patients, accepted cases, production and profitability? Now's a good time to take a hard look at your practice's performance. If performance is lagging in certain areas, make adjustments. If you're doing well in others, build on those strengths.
Review key performance indicators (KPIs). Look at trends for the past six months. Identify what's growing, what's staying the same, and what's declining. Evaluate your targets by month, quarter, and half-year mark. Compare this year's numbers to last year's. If you're below goal in certain categories, devise a plan to make up the difference by year's end.
Don't wait to respond. Problems don't typically fix themselves. For example, if production is down for three straight months, it's unlikely that revenue will suddenly go up -- unless you enact some countermeasures to drive growth. Don't wait another three months before addressing negative performance. Make adjustments now, so you can reap the benefits before the year is over.
Roger P. Levin, DDS, is the founder and CEO of Levin Group, the leading dental practice consulting firm in North America. For the complete list of dates and locations where you can attend his latest seminar, visit www.levingroup.com/gpseminars.
The comments and observations expressed herein do not necessarily reflect the opinions of DrBicuspid.com, nor should they be construed as an endorsement or admonishment of any particular idea, vendor, or organization.
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