Profitable Practiceson 10th August 2018
Do you feel that your practice could perform better, but unsure how to go about changing this? Lindsey O’Neill and Kevin O’Neill of Profitable Practices explains how they can help.
Are you wanting someone to help you who has been there as a practice owner and understands the realities of dealing with staff and patients and running a business? Someone who won’t judge you or make unrealistic suggestions that just don’t apply to you? Someone who recognises that every practice is different and requires an individual approach?
We help you create excellence within your team. We do this by helping the whole practice learn new skills and systems. The practice will learn to adapt and change, embracing what the change brings rather than shying away from it. We will help you weave within the fabric of your practice, a certain ethos, and a pursuit of excellence. This will make your practice stand out above your competitors. We help you manage this through constant repetition, and as a result these beliefs and behaviours become second nature. This will enable you to make a special place for your team and patients to visit. As a result you will have new patients requesting to join your practice to become a part of what you have created.
This is a journey that we take together, we will be with you from our first visit, spending a full day within your practice so that we can really get a feel for where you are, and then find out from you where you want to be. We then create a bespoke report detailing our findings and outlining our suggestions. It is then up to you how long you want us to help you, a one-off visit, support for six months, 12 months, or beyond. With our monthly support plans, we will visit regularly to provide support and training, to help you implement your report. We are also available via telephone or email to answer any questions, queries or problems you encounter.
We are fully aware that during the day you are busy seeing patients and dealing with the issues of running a practice, which is why we are happy to take calls out of office hours. We can help you make the changes you need to become a profitable practice, with an excellent team and happy patients.
Private Dentistry speaks to both Kevin and Lindsey about how Profitable Practices can help you perform better.
PD: Where did the idea for Profitable Practices come from?
Kevin: I’d noticed that whenever we went on courses, Lindsey and I were coming away with more and more contact details of other course participants wanting to know how we had grown our practice.
Lindsey: It was great helping other practices and hearing about how the ideas we had suggested made such a difference to their working lives.
Kevin: I had already witnessed the difference Lindsey had made to our own practice. With a background in finance rather than dentistry, she applied business principles to the practice, and challenged why we did things in a certain way. She made us see things from our patient’s perspective and made us understand what our patients actually wanted.
Lindsey: I was starting to spend more and more of my time answering emails and phone calls from other dentists, giving them advice and suggestions on ways to tackle the problems they were facing. Kevin had suggested that I should charge for my time, which made me start thinking if I could make a business out of the idea. It was then suggested by a third party, who had witnessed how our practice had grown, that I should start helping other practices achieve their potential, and the idea of Profitable Practices was born.
PD: What is it about your company that sets you apart from your competitors?
Lindsey: When we were looking for help with our practice we struggled to find anyone who really understood the day to day challenges we were facing. They did not listen to what we wanted to achieve, and the issues we had. They had a set of business principles that were the same for every practice but were not right for us. We were not listened to and felt judged.
This is where we are different. We
recognise that no two practices are the same, and every practice will need an individual bespoke approach.
Kevin: We also have the benefit of being practice owners, and will recognise the day to day challenges you are facing. It is not unusual that we have faced similar problems and can share our knowledge to help find a solution. We also recognise that you are seeing patients during office hours, so are happy to answer questions and queries at times convenient to our clients.
PD: What are the most common mistakes you see being made by practice principals?
Lindsey: The biggest mistake I see is people not spending time to develop their business. They are too busy being clinicians and not spending time on how to develop and grow their practice. They are working in their business rather than on their business.
Kevin: I can certainly identify with that, as it is exactly how I used to be. If I could just see a few more patients, work a bit more efficiently, I could increase my revenue. With hindsight this was foolish, as I was just burning myself out and inevitably my patients weren’t getting the quality of care they deserved.
Lindsey: Another common mistake I see is a lack of leadership. I often speak with a practice principal and they tell me about the aims and goals of the practice, yet when I speak to their team they have no idea of what they are.
PD: How can your services improve the working lives of practice principals?
Lindsey: By helping practices improve their performance, profitability, staff morale, and patient satisfaction, we create somewhere special to work and for patients to visit. This inevitably improves the working life of everyone at the practice including the practice principal.
Kevin: Our ongoing support and regular practice visits ensures we can support you to implement the recommended changes and help the practice principal reach their aspirations. Change can be daunting and we can help practice principals lead their team through the challenges involved in delivering excellence in everything you do.
PD: What are the three most common ways in which practices can be made more profitable?
Lindsey: Establishing aims and goals. Think of this as a map of where you want your practice to go, and then set out the route of how you, and all of your team, are going to get there. Then ensure your team know this is where they are heading and how to get there.
Kevin: Create somewhere exceptional for your patients to visit and your staff to work. By ensuring a loyal following of patients who wouldn’t dream of going elsewhere, they will happily recommend you to family and friends, and will generate a wow factor about your practice.
Lindsey: Give patients options. How can a patient decide on which treatment they would like if they have not been presented with all the possible choices? Don’t assume what treatment plan someone wants.
PD: What sort of results can be achieved in the short- and long-term?
Kevin: Short-term we can help you set your goals and put in place a plan. We can also put in motion a structure for staff to work to ensure consistency. You will see an increase in revenue and new patients.
Lindsey: Long-term we will guide and coach your practice towards your end goal ensuring that everyone is polished in their role and you don’t have anyone dropping the baton. By spending time in the practice on a monthly basis we gain trust and develop rapport with your staff and associates. We spend time with every member of the team helping them work out their strengths and develop their skills. By the end of the 12-month programme we would expect that you will have seen a significant increase in new private patients, higher staff morale and generally a strong team working towards a shared goal. As a guide we say you can expect anything from a 25 – 100% increase in profits, however this is very much dependant on your commitment to following our advice. The sky’s the limit.
Contact us by phone or email, to find out how we can help.
Telephone: 01937 326032