Levin Momentum
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Levin Momentum

Dental practice production: Don’t fritter away early momentum

June 26, 2017
"Past results do not guarantee future performance." You've likely heard this phrase before, but have you considered applying it to your own dental practice production? Don't assume the last six months of the year will go well just because the first six did. Here's are a few things to keep in mind.
Roger P. Levin, DDS, CEO and Founder, Levin Group

"Past results do not guarantee future performance." You've likely heard this phrase before, but have you considered applying it to your own dental practice? Don't assume the last six months of the year will go well just because the first six did. Here's are a few things to keep in mind.

Nearly two-thirds of dentists (64%) said they believed they would increase annual production, but only 55% actually did, according to our analysis of recent Dental Economics-Levin Group Practice Surveys. That’s a 9% drop.

Why the decrease? One reason is that most dentists are optimists. You’ve got to be if you’re an entrepreneur. The survey takes place in the first half of the year. If things are going well for the practice then, it’s logical to project that good fortune will continue for the entire year.

But, as they say in those financial ads, “past results do not guarantee future performance.” This is also very true for dental practices, especially in the current economy. Competition is steadily increasing. Patients are rethinking the need for twice-yearly hygiene appointments. Insurance providers keep cutting reimbursements.

Despite these challenges, dentists can still increase their production, but it requires constant vigilance. In the past, many practices grew automatically, much like a tree in the forest. There was little need for oversight or maintenance. Growth occurred naturally. Now your practice is more like a seedling in a nursery… it needs constant attention and watering to grow.

Even when the practice is off to good start, conditions can change quickly. To continue the momentum, build on your successes, minimize weaknesses, and make adjustments as needed.

Author’s note: Want to increase production? Attend a seminar by Dr. Levin. To see his speaking schedule, click here.

Roger P. Levin, DDS, is the founder and CEO of Levin Group, a leading dental consulting firm. A nationally recognized speaker, Dr. Levin presents practice management seminars throughout the country.

CATCH UP ON PAST DATA BITES

"Data Bites" is a monthly column in the Apex360 e-newsletter. The column presents findings from the Levin Data Center and analysis by Roger P. Levin, DDS.

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Editor's note: This article first appeared in the Apex360 e-newsletter. Apex360 is a DentistryIQ partner publication for dental practitioners and members of the dental industry. Its goal is to provide timely dental information and present it in meaningful context, empowering those in the dental space to make better business decisions. Subscribe to the Apex360 e-newsletter here.

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