{"id":4149,"date":"2015-05-28T13:17:32","date_gmt":"2015-05-28T17:17:32","guid":{"rendered":"https:\/\/themcanallysellingsystem.com\/?p=4149"},"modified":"2019-10-23T14:20:52","modified_gmt":"2019-10-23T18:20:52","slug":"dental-practice-management-and-pareto","status":"publish","type":"post","link":"https:\/\/themcanallysellingsystem.com\/dental-practice-management-and-pareto\/","title":{"rendered":"Dental Practice Management and Pareto’s Law"},"content":{"rendered":"

Dental Practice Management and Pareto’s Law<\/h1><\/div>
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\"dental<\/span><\/div>
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Pareto’s Law<\/a> – 20% of effort yields 80% of results.<\/p>\n

One of the biggest challenges in dental practice management is related to what we allocate time to and what the “to do” priorities are.<\/p>\n

You\u2019ve probably been exposed to this 80\/20 rule before or at least heard someone say it in casual conversation.\u00a0 It’s highly doubtful that any consultant you’ve ever encountered was concerned about 80\/20 as it relates to dental practice.<\/p>\n

Gordon Christensen opened my eyes to this concept in 1991 during a meeting of the International Association for Dental Research.\u00a0 He would show up at major meetings only looking for the small percent of information that mattered the most on his hunt for relevant data that mattered to clinicians.<\/p>\n

Where Pareto (and Gordo) becomes very handy is looking at how you spend your time.\u00a0 The majority of dentists report that they don\u2019t have enough time as part of their frustration with dental practice management.\u00a0 This is complete bunk.\u00a0 Everyone reading this has more time than they actually need.\u00a0 Every day you wake up alive and kicking you get a new fully useable 24 hours.<\/p>\n

Dentist\u2019s, especially those allergic to business books, rarely get Pareto\u2019s law nor apply it. It\u2019s not discussed in any lecture hall at a major dental meeting even thought is has more direct application to your life, dental practice management, and practice than MOST of what will go on at any clinical meeting.\u00a0 Right Gordo?!?<\/p>\n

Here’s some other biggies:\u00a0 80% of your profits come from 20% of your activities. f you have an office of 5 employees, one creates 4X the value of\u00a0 the other 4 as individuals. Take 5 practices, and 1 is going to be far more profitable than the other 4.\u00a0 80% of profits in private practice go to 20% of the profession Yes, there is a self-reported income \u201caverage\u201d published by the ADA but when you slice up a room of dentists there is an upper 20% that doesn\u2019t do just okay but OMG! REALLY well.\u00a0 They tend to do things very differently with selling.<\/p>\n

I’ll leave you to discover the hidden power of 80\/20 in these other areas but let us return now to dental practice management and specifically “time management” and Pareto.<\/p>\n

Dentist time \u201cproblems\u201d have nothing to do with becoming more efficient thanks to better time management, fancy organization systems, filo-faxes, digital calendars, etc.\u00a0 You’ll see nothing about “time management” in this Amazon best seller<\/a>.<\/p>\n

All of these things lead to more stress and anxiety when it comes to dental practice management because the goal with these “efficiency” based systems is to simply shove more into a container that doesn\u2019t expand.\u00a0 It\u2019s more important to decide what really belongs in the container than to attempt to expand it.\u00a0 By viewing time “management” from this perspective while keeping Pareto’s law in mind we can lower stress while achieving good dental practice management.\u00a0 Ultimately, good dental practice management means getting more of what we want from our practices and helping more patients.<\/p>\n

Dentist time problems have everything to do with how one thinks about time value and then applies 80\/20 to areas that you feel are the most time crunched.\u00a0 It also has to do with identifying\u00a0 what\u2019s important and then deciding how much time is allotted to doing what is the most important.<\/p>\n

Non-member readers of my free letter, waste 80% of their time on things that aren\u2019t important.\u00a0 I know the behavior of those who are not part of our group and can predict it.\u00a0 In fact, if you haven\u2019t attended our case acceptance training, I can guarantee\u00a0 you that you have 80% less administrative time as a direct result from how you sell, what your fees look like and how that impacts case profit, how well your marketing is being restricted because of not having that course, and in how you address big cases inside dental insurance contracts.\u00a0 A smart first step would be to unlock more returns from your time and marketing expenses with that #1 university backed case acceptance (selling system).<\/p>\n

That is of course if you see some value in 80\/20 thinking!\u00a0\u00a0 If you feel you are trapped in a never ending time crunch, 80\/20 is the best way to reboot your relationship with time \u2013 which again is ABUNDANT!<\/p>\n<\/div>

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