The everyday demanding responsibilities that dental practices impose on dentists/owners keep us so occupied that we often overlook the big picture: the evaluation of where we are relative to our long term objectives. We look at our day sheet or weekly schedule printout and concern ourselves with being sure the team fills any holes in the schedule, the lab delivers the case on time, or the specialist report has been delivered.
Successful dental procedures are built on careful, systematic methodology so that the end result is clearly evident. By nature, dentists do not habitually step back to review and evaluate our global success but often take comfort in being able to continue the repetitive steps that have been leading to what we consider the norm. It is, however, essential for us to reflect on and review the direction our practice is taking and how successfully we are positioned to achieve our professional goals. The three key times for evaluation are based on the stages of the development of the practice.
Stage 1: Following the first five yearsThe first five years into our startup or purchase of an existing practice usually keep us busy with the clinical aspects of the practice and the business management of the daily minutiae that make our practice run smoothly. At this point, it is judicious to review the results of our beginning and question how our practice aligns with our initial vision and the realization of our expectations.
PATIENT POPULATION
• Has the patient population presented as I had anticipated?
• Is the patient flow adequate for my particular style and development as a practitioner?
• Am I able to relate to and communicate with patients that have joined the practice to increase their appreciation of their oral health?
• Do I connect with and enjoy the patients who are attracted to this office? If not, should I, perhaps, be thinking about moving to another locale where I can meet my aspirations? The startup years stage has its advantages by providing opportunity to seek a fresh start with better informed aspirations.
PERSONAL GROWTH
• Is my skill set development via extracurricular continuing education increasing my selfconfidence as a result of having experienced more successful cases?
• Is the patient flow adequate for my particular style and development as a practitioner?
• Am I able to relate to and communicate with patients that have joined the practice to increase their appreciation of their oral health?
• Do I connect with and enjoy the patients who are attracted to this office? If not, should I, perhaps, be thinking about moving to another locale where I can meet my aspirations? The startup years stage has its advantages by providing opportunity to seek a fresh start with better informed aspirations.
Stage 2: Celebrating the 10-15 – Year Practice AnniversaryCelebrating the 10-15-year practice anniversary announces the practice as a well-established entity with its own developed “brand”; therefore, it is a good time to step back and view the “State of the Union.” Some helpful questions to ask yourself or an impartial, trained third party are the following:
PERSONAL SATISFACTION
• Am I getting professional and personal satisfaction from running my practice?
• Do I connect with and enjoy the patient and team interface?
FINANCIAL REWARDS
• Is the financial compensation commensurate with the energy that I expend?
• Has the “trading area” remained essentially what I had hoped it would be going forward?
PHYSICAL FACILITIES
• Is the facility sufficiently contemporary to serve the team’s needs and the patients’ perceptions?
• Does our presentation conform to patients’ perception as to whether this is an “updatedoffice”; therefore, are patients comfortable to refer internally?
HUMAN RESOURCES
• Is the staff and patient base stable or is there a significant turnover? If so, why?
If we generally feel satisfied with the success built up over this number of years, we should question whether we are maximizing the opportunity to serve all the needs of the possibly significant patient numbers that we have on our roster.
Stage 3: Eying the future: 1-15 Years Prior to TransitioningIn this phase of our career, the focus of the process is somewhat different. We should look at the practice through the eyes of a younger, potential purchaser and take steps to enhance the practice in light of the expectations of another generation of practitioner and/or patient cohort. What worked comparatively well for us may be viewed as old fashioned practice protocols.
Garnering advice to create a renewal plan that will keep our practice in the desirable category makes good sense. An effective renewal plan allows us to generate the deserved value that our many years of dedicated service should accrue. To develop this strategic plan, it is highly desirable to consider meeting with an accountant, lawyer, practice evaluator, and a practice management consultant for crucial professional advice.
Regardless of where we fit in this time continuum, it is essential that practitioners are reflective rather than simply responsive. Evaluation and review pays huge dividends and is well worth the angst inherent in selfassessment and critical contemplation.PA
