Seven big things dentists can do to improve their business
The dental business environment has changed much and changes in the landscape are looking like they are accelerating. Today, the dental practice, needs a lot more edge and the full engagement of a focused and highly capable team. The whole practice team requires to be working strategically – not just harder or smarter. The proposed new NHS dental contracts will completely change the business landscape for NHS and private providers. What worked for you before is unlikely to be the entire answer going forward.
What will you change to ensure success?
Where do you want to get to in your business and personal life? If you don’t define this and plan to get there, chances are that you will fall short. As Stephen Covey in The 7 Habits of Highly Effective People said, you need to “start with the end in mind”.
In reality, visions are stunted by what you feel you can achieve. cBPE’s work has shown that if the shackles of that limitation are removed, people really prosper in their vision setting.
Once a clearer vision is defined, one that stretches the imagination, the natural question to ask is, “how are we going to get there?” Any detailed examination will immediately conclude that the need to define in more precise terms “where are we now?” . These are complex questions, depending on the quality and capability of the team as well as the resources to hand, not least the financial strength and the breadth and width of the processes?
How the business gets to the vision from where you are now is the strategy. cBPE bring healthy doses of business acumen, strategy knowhow, experience and dental industry knowhow, to help you develop the most effective way forward. We have a history of finding new and creative choices for appropriate strategies that take into account your vision and what business risks you are prepared to take.
Implementation is everything
Making it happen is the challenge for established organisations. cBPE help you determine the critical success factors – areas where you need to particularly focus – to ensure best chance of winning.
3. Effective management
cBPE work with the practice owners and management to make their job easier and to produce better results all round. cBPE know that the usual route to management in dentistry is ex-nurse, or ex-reception. Our programs for up skilling managers take them into account and yet produce some of the most effective managers in the industry.
We also consider what the short and long term business environment trends are. For example, how will you prepare for the new dental contracts? Currently, implementation of these is planned for 2014, but likely to feature long before in the NHS commissioning methods. In other words, you need to prepare much more in advance too. cBPE, currently plans for the likely scenarios, and cBPE clients receive the benefit of being able to have appropriate strategies in place to come out positively.
4. Effective Teams
The language of work and workplace behaviours. Wouldn’t it be great if people came with a label of what they wanted and what motivated them? Failing to harness people’s motivations and fears at work can be a disaster for the business, but if you can manage them successfully, the outcome could be unbelievably uplifting to the organisation, leading to better performance from the whole practice team.
cBPE work with the entire team to make your team more effective. Our success speaks for itself.
5. Business Infrastructure
Strategically tuned business processes allow the business to work for you – and not you for the business.
cBPE works with you to classify processes on how much they deliver the critical success factors. Our solutions are individual to the business, but best practice, customer journey and compliance are some of infrastructure normally needed to preserve business knowhow and build momentum for growth.
6. Customers & Customer Dynamics
Within UK dentistry, patients have been plentiful. But under the new dental contracts this is no longer an affordable assumption. Patients have choice, and patients with choice become customers. That’s no bad thing, since everything in the customer marketing toolbox can now become a firm part of the armoury of a good dental business. Harnessing the customer engine for your is a cBPE speciality.
cBPE can help you to look at how to bring in new customers, but more importantly how you look after the ones that you already have, these are your future. Some leading questions to be answered are:
- What is the customer journey in your practice?
- What is your patient’s lifetime value to your business?
- What quality relationships are your associates building with patients?
- What other things are being innovated by successful practices elsewhere?
7. Business Expandability
Can what you do, especially what you do very well, be replicated elsewhere?
Dentistry is currently one of the more fragmented industries. There have been a number of attempts to consolidate through buying up smaller practices and under the new contracts (2013+) this trend will become even stronger, with new entrants to the market. What happens when new competitors like Tesco and Sainsbury’s and other High Street retailers move into dentistry? Are you ready for the changes this will bring?
cBPE have a track record of delivering growth for our clients – adding £millions of value to principals and associate dentists. Make the thousands of hours spent by us with dental business and people count for you and give your business a competitive advantage. In today’s challenging environment, cBPE can be your secret weapon in building your dental business.