Practice Valuation Factor: Accounts Receivable. Uncollected—perhaps uncollectible—money can undermine the value of your practice. The seller and buyer will need to negotiate who will be responsible …

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Advice for Staff Members – Reassure patients about recommended treatment. Only the doctor can recommend clinical treatment, but all team members can help patients feel good about accepting it. Praise …

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What is your practice’s brand personality? Market research indicates that people think of businesses, products and services in human terms. If your practice were a person, how would you describe him …

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Advice to Administrative Staff Members – Dress to impress. Patients come to your practice for professional services, so attire that’s too casual or sloppy will send the wrong message. Doctors and …

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Don’t underestimate the effects of stress. A little stress often enables people to perform well. But a lot of stress, day after day, can cause serious damage. Stress wears you down physically, …

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Performance Target: Schedule all larger cases within seven days. These cases are the most difficult for patients to accept, so you should schedule them as quickly as possible, while patients remain …

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Stop trying to prove you’re perfect. When you make mistakes, take ownership of them. If you make excuses or blame others, your teammates will have difficulty seeing you as a trustworthy member of the …

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Performance Target: Increase patient referrals by 18% annually. The most cost-effective way to bring in new patients is by getting referrals from current patients. If they’re satisfied with your …

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Make a great first impression on patients. When new patients present to your office, they’ll judge your practice on the basis of the “feel” they get rather than on clinical factors. Whatever your role …

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For Practice Owners – Valuation Factor: Fees. Patients may be pleased that your fees are relatively low, but a prospective buyer for your practice may see them as a liability. If a buyer simply raised …

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Use scripting to raise your case acceptance rate. When presenting to patients, simplify complex subjects and translate clinical details into benefits. By mapping out the presentation with scripting, …

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To create a strong practice brand, build on the “dentistry brand.” Dental practices are fortunate because dentistry itself is highly respected by most people. Take advantage of your practice’s …

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