The Dentition - Affinity Bank Dental Newsletter

Spring Dentition 2016

Affinity Bank Dental Newsletter - The Dentition provides dental and banking information for dentists in Georgia

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ED COONEY President, Affinity Bank Atlanta, GA Better Your Own Business (BYOB) We oen hear our dental clients asking this question. "I have the skills and knowledge to be one of the top ranked dentists in my area, so how do I get there and stay there?" is includes having a competent, trained, and engaging staff, a relationship-focused service model, and the understand- ing that your practice is only as great as your weakest team member. e private practice industry is one that is ever-changing and fluctuating with corporate and investment structured enterprises trying to claim their stake in the market. When you can't compete with their cost, the only op- tion is to be tenacious about the PATIENT EXPERIENCE you provide. In the book Dental Practice Excellence by Alex Nottingham, it suggests the silent killer for private dental practices is lack of competence. In order to meet the expectations of your patients (or prospective patients), you must exceed your expectations of yourself, along with your staff. To do that, Nottingham suggests thinking from the prospective of your patients. He states,"Given all of the other options open to me as a patient, why should I choose you as a dentist?" In order to grow your business, you must be able to answer this question, and more importantly, deliver on it, aka "practice what you preach." It all comes down to training. When a potential patient (or existing) is looking for a dentist, the first person they are going to talk to is the business office team member who answers the phone. is per- son must be properly trained and knowledgeable about all operations of the business. ey must be able to answer questions and engage with them and most importantly know how to ASK FOR THE APPOINTMENT. Recognizing the value in investing in your people is a huge step to grow- ing your business. Some say their people are not interested, and so it is a waste of money. Well, the answer to this problem is simple, you have the wrong people. You must find those who are motivated and want to make a difference. A highly trained staff will lessen the reliance on marketing and insurance reimbursement some believe to be the only true way to grow your business. e excellence of your business is not only based on your skills as a dentist but more on the operation of your business as a whole. Patients want to feel special. ey want to know they are in good hands. ey need to hear and understand the physical and emotional benefits of oral health, even if the cost may interfere with that relaxing beach getaway they have been saving for. So how can you uncover your practice's true potential? In my twenty-six years of experience in the dental industry, I have found there are common business practices which continue to present them- selves time and time again, and it starts and ends with you. ASK YOURSELF: What should "I", as the CEO of my business, be focused on and committed to so I can grow my business…? • Become an expert on "RELATIONSHIP FOCUSED SERVICE" • Build an emotional connection with patients • Empower your team to share THEIR ideas • Audit all departments on service and walk a team member through the New Patient Relationship process • Market to the 20% of your market that provides 80% of your income and audit your trends in types of cases or demographics you serve with the most profitable return on investment • Ask yourself, when was the last time I trained my team on Business and Service? How oen do I continue to coach or train my team? • Enroll in a CEO Business course • Run your practice like a business not just a practice • Manage your margins • Learn more about the GDA Integrity Dental Buyers Group Source: Alex Nottingham, J.D., M.B.A. Dental Pracetice Excellence Nathan Best: Editor/Co-writer Liz Galazka Senior Vice President Business Development Contact Nathan Best for a complimentary copy of Alex Nottingham's book Dental Practice Excellence

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