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Optimism with Action
“Crossing our fingers in this economy is not a strategy”

It is true most of us are experiencing great change before our very eyes!  There seems to be widespread uncertainty across the nation as we embark on a new economic path. In relation to the dental practice of today, a stronger look at the business as a whole may be the first order of interest.  This proactive approach is not new to every practice owner, however for some, this may be the catalyst of opportunity to explore comprehensively every reason the business may be flat-lining or in some cases spiraling out of control.  The economic head lines are truly imparting doom in dental practices and loss of revenue due to the recession is fast becoming the sole contributor. We are not suggesting that our economic climate is not having some impact on practices however history tells us that there is more exploration to be done.  In other words, this mindset can become a slippery slope.       

The first question that we always pose is what else? In our experience a comprehensive evaluation of the business and every system in the practice leads to opportunities that in most cases are clearly being missed. This is often the equivalent of lost revenue. We have heard from many doctors and industry professionals that a 30% loss is what some practices are experiencing, consequently sounding like a new benchmark. We understand that if this becomes somehow “acceptable” it can lead to catastrophic circumstances. From a budget and overhead perspective, it is unacceptable. We certainly do not want to surrender to high revenue loss as an industry standard in any practice. The truth is, at this point in time, the cream is rising to the top! Those who embrace change, budget appropriately, enlist industry experts, and strategically align and adjust their business are not experiencing loss to this extreme, in fact many are growing! Business is different today and will continue to be different tomorrow. It’s simply a new reality, a new way of life.    

Where do you go from here? Many take a hopeful approach, some simply bury their head in the sand or cross their fingers while others submit to failure because they buy-in to the current economic condition. For those who choose to take a positive attitude, it is imperative to realize the difference between optimism with action and optimism without! This will require that you look objectively at what is in front of you and realistically at what can be tomorrow. Exploration will be one of many steps and is a process not an event.       

Taking the first step toward true exploration and an optimistic approach with action will require a willful effort. We ask you to consider the following strategies:  

Ask the Hard Questions

• Ask yourself who is accountable for the business?
• What contributions positive or negative have you made which have impacted the practice?
• Is your team knowledgeable, effective and supportive and if not, why?

Analyze thoughtfully

• Acknowledge that changes must be made
• Question systems that aren’t working or non-existent (ie: insurance plans, marketing; collections, financial options etc.)
• Does your teams attitude and or training support your business goals

Prioritize Decisions

• Focus on what’s ahead
• Evaluate costs
• Dare to innovate

• Evaluate and adjust business budget or create one
• Determine the weaknesses in the systems and don’t wait to address them
• Be explicit about the goals and team expectations to support them.

It is time to move toward a brighter future amidst uncertainty. It is within reach, and its forecasts and measurements are dependent on where your mindset is, your business sits financially, the skill and support of your team and overall operation of systems that may determine how you can sustain and even grow your business tomorrow. The choice may simply be optimism with action.