The 5 Tenets of Practice Success
Dr. Brad Guyton and Dr. Carolyn Ghazal, two renowned PDS®-supported clinicians in the world of dentistry, teamed up to provide the secret to business success in the dental practice. These five practice-management tenets are vitally important, and every practicing dentist should cut them out right now and tape them to their car dashboard.
Here are the 5 Tenets of Practice Success: Try a new one each day this week!
- Monday: Prioritize excellence, while becoming excellent at prioritization.
- Tuesday: Build systems to decrease stress, instead of stressing about decreases.
- Wednesday: Focus more on increasing revenue, and less on decreasing costs.
- Thursday: Be better, not cheaper.
- Friday: Be willing to take what others are willing to give and give what it takes.
Tenet #1: Monday: Prioritize excellence, while becoming excellent at prioritization.
In this tenet, PDS-supported Drs. Guyton and Ghazal touch on the core of what being a clinician entails – commitment to clinical excellence: “If the fundamentals for a good team and business model are in place, and if we focus on making the lives of our team and patients better every day, the money will follow.” (dentaltown) Achieving this clinical excellence involves profit, trust, case acceptance and the prioritization of patients. According to Guyton and Ghazal, “it is almost impossible to build trust based on profit. However, prioritizing patients over profit builds trust. Trust enhances case acceptance. And improved case acceptance equals profit” (dentaltown).
Tenet #2: Tuesday: Build systems to decrease stress, instead of stressing about decreases.
“The two professionals note that the top three stressors consistently observed in the dental office are: conflict among team members, understanding practice financials, and marketing the practice. Ever wonder:
- Why, when we arrive home after a long day at the office, we sometimes feel like it takes every ounce of effort just to make it to the couch?
- How other dentists seem to have boundless energy and are off running marathons and traveling the world?” (dentaltown).
Tenet #3: Wednesday: Focus more on increasing revenue, and less on decreasing costs.
By highlighting the three revelations below, Guyton and Ghazal are able to open up to the idea of increasing revenue, not necessarily decreasing costs.
Revelation #1: Sales is patient education and patient acceptance.
Revelation #2: Trust drives sales.
Revelation #3: When trust drives sales, sales drives revenue. Period.
An important and relevant note in this tenet is, “To be exceptional, dental practices don’t become great by killing the coffee bar or switching impression materials. Instead, we earn our way to greatness by investing in ourselves, our practices, our team, and our patients” (dentaltown).
Tenet #4: Thursday: Be better, not cheaper.
Guyton and Ghazal highlight how their choice to have a high-tech practice with digital X-rays and CAD/CAM technology in their offices early on has helped their practices survive the economic turmoil of six years ago. Their choice “to invest in education and commit to offering the best solutions for (their) patients” has also given them the opportunity to “improve quality and enhance margins” (dentaltown).
Tenet #5: Friday: Be willing to take what others are willing to give and give what it takes.
It’s simple – “Dentists learn best by shoulder-to-shoulder coaching” (dentaltown). This particular tenet highlights leadership and the importance of personal and professional growth reflecting in one’s career. “We all have to show some vulnerability and remain open to improvement. Continued growth over the course of our careers is necessary for evolving in a positive way. When a leader is open in such a way, he or she is better received by the team members he or she is trying to lead. In return, the team members will follow and even step up to lead by simply following the example that we set” (dentaltown).
1. dentaltown. Guyton, B. and Ghazal, C. “The 5 Tenets of Practice Success“. http://dentaltown.com/, Sep 2015. Web.