N. Texas Dentistry Special Issue 2014 Inside the Exceptional Practice | Page 15

HUMAN RESOURCES The most successful practices attract and retain a team that can support the operational activities of the practice and help drive the practice towards its profit goals. Developing well-defined operational protocols, policies and procedures and training the staff in their implementation allows the practice to operate at peak performance without sapping time and energy from the dentist’s primary role as a care provider. The practice is better served when the dentist provides guidance and inspiration for employees to perform at their full potential as individuals and as a team, and remains focused on providing excellent dentistry. Of course, there are numerous other operational activities in a dental practice besides actual dentistry that cannot be neglected. In order to function, a practice must hire, train and manage staff, develop marketing plans and utilize social media, maintain computers and other equipment, monitor licensure and compliance, work with suppliers, and take care of the physical facility. Managing stress levels and optimizing the efficiency of the practice operation dictates that some or all of these oper- Staff contentment leads to better retention and a team culture of service, which is a major factor in patient satisfaction. to enjoy a comfortable lifestyle and grow the practice, while fully funding retirement programs and accumulating savings. Sometimes, a change must be considered in order to improve performance and reach profit goals, such as adding an operatory, adding a staff member, moving to a new location, or purchasing equipment. These decisions should be made only after consultation with a financial advisor who can help you conduct a careful analysis of the projected costs and anticipated returns, as well as perform an analysis of the impact on the other systems in the practice. A practice management consultant can help guide key decisions like selecting the ideal location, marketing, interior design, and office policies. They can improve the operational efficiency of an existing practice or ensure that a new office is up and running quickly and smoothly so patient retention and cash flow are minimally impacted by the change. MARKETING Plainly put, marketing is communication. Every interaction, from a simple discussion with a patient about a new service, scheduling an appointment, answering a phone, greeting a new patient, or presenting a case – is an important marketing opportunity. Most practices also utilize internal and external forms of marketing including brochures, advertising, direct mail, social media and websites ational duties must be delegated to qualified and motivated team members. Sometimes, temporary staffing is necessary to help cover important tasks. Seeking an agency that specializes in dental staffing can help you ensure that unemployment tax and documentation required by the Texas Workforce Commission is handled properly to avoid penalties. When operational systems work well, it creates a happy, low-stress work environment – which is not only wonderful for staff but also creates the foundation for a great patient experience. Here again, the doctor’s leadership is invaluable – good things happen when staff are respected, valued and appreciated for their contributions. Staff contentment leads to better retention and a team culture of service, which is a major factor in patient satisfaction. Patient satisfaction is your best marketing tool, since it drives word-ofmouth referrals and positive online reviews. It it easy to see how these factors all work together to drive profitability. FINANCIAL MANAGEMENT Excellent financial management is necessary for the practice to achieve its potential. Well-managed finances enable a dentist www.n