You current challenges and your immense reward or potential rewards that come from your owning a business are a direct result of one or more of these words and the actions they create in the economic worlds of your patients.
Technology and information drives the better, faster, cheaper process and it’s happening in spite of what your opinion may be. It requires you to evaluate what you do, how you do it, what you sell, and how you sell it.
Better, faster, cheaper impacts dental marketing choices depending on the types of patients and cases you seek.
Better, faster, cheaper impacts dental case acceptance and the structure you place around selling based on case size and profit margins.
Better, faster, cheaper impacts dental marketing budgets.
Better, faster, cheaper impacts what dental insurance plans you can be a part of and how many of them you can contract with.
Better, faster, cheaper impacts what colleagues and what groups you want to affiliate with. There’s a lot of toxic waste coming from those who are fighting better, faster, cheaper versus those who look for the positive and then adapt and benefit.
Better, faster, cheaper impacts who you can trust as a dental consultant and who’s advice is worth listening to related to dental practice management.
Better, faster, cheaper doesn’t mean you have to be or even focus on all three but it does mean that if you aren’t becoming world class in at least one of the three or a combo, trouble awaits.
Better, faster, cheaper definitely means that if you aren’t going to be cheap you are going to have to be a LOT better and a LOT faster.
By the way, as a leader of your business you best bring your team up to speed on this reality as you need their help with dealing with better, faster, cheaper.
You must look at everything you do from the better, faster, cheaper perspective while still doing a good job for your patients.
Knowing the job cut out for you, how do you best manage better, faster, cheaper administratively?
#1 – Learn and focus on 80/20 thinking. There are plenty of resources available. 80/20 greatly helps you manage whatever you deem needs to be better, faster, or cheaper in your practice location to compete with other goods, services and dentist choices. If you are not familiar with 80/20, get to know it, it is the ultimate way to finally “find” time for everything that’s critically important.
Any dentist who says they “don’t have time” for important matters that affect their business are telling a very big lie to themselves. It’s also a 100% sure sign they aren’t in the loop on 80/20! (FYI – The “not enough time” excuse is the biggest self-told-lie we get from those not enrolling in the #1 case acceptance training program on the planet. A program that literally gives dentists the tools necessary to sell and gain dental case acceptance on better, faster, or cheaper.)
#2 – How much time you have available to focus on the business of your practice each week (looking at your marketing, training your team, training your team and yourself in selling (dental case acceptance) is also part of how you effectively manage better, faster, cheaper.
The only way to have time to work on the practice is to maintain specific levels of profitability per hour and THAT (profit/hour) directly stems from how you market AND in what you sell (yes dental case acceptance again!) AND how you sell it (selling process).
Sell at a higher or much higher average profit/hour and you immediately buy yourself the administrative time to make sure your business stays healthy. The #1 way to buy administrative time through effective selling and dental case acceptance is here.