Pretend for just a moment that it’s the last day of the year.
Imagine that you’re just wrapping up the best year for your dental group.
You’ve increased your revenue and/or locations. You’ve comfortably transitioned out of the chair and into your executive role. You’ve reduced overhead and increased cash flow. You’ve implemented a robust hiring system, bringing in top associates/team members. You’ve aligned your operational systems and added KPIs and metrics to drive growth. In short, you are growing successfully!
Can you see it? Can you really feel it? You are on your way to achieving your scaling vision.
Okay, back to the present. How will you get to that place of achievement in December?
You need a plan. Check out this resource by clicking here: “How To Grow a 20+ Location Dental Group/DSO”.
It will offer you tactics for growth — whether your plan is to grow in locations or revenue or both, this downloadable PDF is a great reference to accomplish your goals for the year.
It’ll help you reverse engineer your next steps with strategies divided into each of these components: your vision, your self, your team, and your business.
These make up The Dental Organization Growth Model™, a framework that helps you determine where you need to spend your time, where your biggest issues are and where you need to level up.
1. Grow yourself — peer connection, executive capabilities, and consistent clarity
Build a support network for dental groups / DSOs (peer connection): Group dentistry is not a one size fits all. Some groups grow through de novos, some pay on production rather than collections, etc. The DEO has found the mastermind formula is key to our members’ success — because they are surrounded by accomplished dental group owners and able to cherry-pick the strategies they need.
Establish a clear vision (consistent clarity): Your vision will be at the core of every quantitative and qualitative metric, dictating your yearly goals, core values, culture, etc.
Take a look at the guide for more tips about how you can level up your leadership development.
2. Grow your team — build talent, leaders, and alignment
Develop a true recruiting strategy (build talent): A robust “recruiting strategy” is key to hiring both ‘junior’ level positions (front desk, dental assistant etc.) and ‘senior’ level hygienist/ associate level positions and must result in consistent “A” players with less than 5% turnover.
Formalize an associate ownership model (build leaders): Ownership is often the biggest determinant related to retaining key associates. Withholding equity options could lead to turnover. Furthermore, when associates have a stake, they perform better.
3. Grow your organization — bottom-line, top-line, and cash flow
Establish associate KPIs (grow top-line): Treatment acceptance rate is a critical metric for each associate. Consider tracking their production or collections. Review weekly, monthly, and quarterly.
Review monthly budget variance reports (grow cash flow): Supplies and lab costs are easy items to ‘budget’ carefully, but there are many other metrics that need to be budgeted and monitored including labor vs production, labor efficiency rates, and others.
In addition to those above, you’ll want to check where you are on the DSO growth matrix and the other tried and true strategies in the “How To Grow a 20+ Location Dental Group/DSO” guide.
I hope this guide will be one tool you can use to achieve your goals, helping you imagine yourself twelve months from now reflecting on the best year of your practice!
(When you get this guide, make sure to also schedule a free growth accelerator call with Darin Acopan, The DEO’s VP of Business Development — he can point you even more in the right direction to accomplish your goals. Doing so will also give you access to extra bonuses.)
Here’s to your success and achieving your vision for the year!
Dentist Entrepreneur Organization
CEO / Partner