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3 Things Millionaire Practice Owners Do

3 Things Millionaire Practice Owners Do

Over the years, Levin Group has been fortunate enough to work with a number of extremely successful dentists and specialists. That might be surprising to some, who think that consulting is only for practices struggling with poor performance and low production.

Like superstar athletes, high-achieving dentists want to continue to get better. They’re not satisfied with where they are, because they know that with the right amount of effort, learning and training they can improve their practices and achieve even more.

Here are three things all millionaire dentists do…

1. They Do Their Job––Not Other People’s

Time is valuable, and they don’t want to waste doctor time on performing administrative activities. That’s a poor use of a very limited resource. They believe they should be spending nearly all of their day providing patient care.

No doctor should be scheduling patients, handling billing issues or performing hygiene. That’s why you have a team. The best use of your time is caring for patients.

Of course, there are important non-clinical activities that the doctor must be involved in, such as meeting with referring doctors and reviewing the practice’s financial performance. But these aren’t everyday events and should take up only a small amount of a doctor’s time.

2. They Let the Systems Run the Practice

For this to happen, you must have good systems, and your team must be trained on the systems. Without these two things, your practice will be in a state of chaos.

Top dentists have figured this out. They put in high-performance systems, make sure their staff is fully trained, and then they get out of the way. They spend their days moving from operatory to operatory, treating patients and being productive.

Unfortunately, too many dentists are losing uncounted hours every year, dealing with substandard systems… searching for workarounds to bottlenecks… and stressing about what’s going to go wrong next. That’s a difficult way to make a living at dentistry.

3. They Take Time Off

I can’t tell you how many dentists I’ve met who said they haven’t had a vacation in years… which is absolutely crazy to me. Dentistry is supposed to be an enjoyable career, not a prison sentence.

How can you renew when you’re in the practice every day? How can you see the big picture if you’re always immersed in the day-to-day? Without time off, dentistry turns into drudgery. What kind of care can you give to patients if you dread going into the office?

Successful dentists understand that being the best at what they do requires time away from dentistry and the office. As a practice owner, you’re under a lot of stress, but often you don’t realize how much stress you’re experiencing, because you’re used to it. Many stressors are under the surface, applying constant pressure… but you don’t know that they’re there until you take a break from the practice.

Every dentist needs at least one vacation a year. You deserve it, and so does your family. You don’t even have to go far. Do a series of day trips. Most of us live close to parks and museums that we rarely visit. Get together with friends you haven’t seen in a while. There’s a lot you can do within a few hours’ driving distance.

Conclusion

If you want a better practice and a better life, do the three things all millionaire dentists do.

They’re not specific to someone who runs a boutique cosmetic practice in Beverly Hills or owns a lucrative small group practice with 11 offices. In fact, the sooner you start acting like a millionaire dentist, the sooner you can become one.


Additional Resource

 To grow your practice, attend one of Dr. Levin’s upcoming seminars in 2017. Click here to see his schedule.

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