Is Your Practice Stagnant or Declining? Revive It With This Proven Solution…

Many doctors believe that they don’t need any more new patients. They think that their schedules are MAXED out; their office building is MAXED out; they themselves are MAXED out… They can’t physically work any harder! They are literally wearing themselves down trying to grow the Practice, and they just don’t understand how “more new patients” could possibly be the answer.

But they are making a HUGE mistake.

If you are one of these doctors (–and I promise, you’re not in the minority,) then I’m going to help you change your perspective on new patients right now.

You might’ve noticed that your Practice has hit a subtle plateau. (Or you might be wondering, “What the heck is this guy talking about?”) Well, let me give you a simple illustration. All businesses, Practices included, follow a very particular model over their lifespans. This model is called the Sigmoid Curve.

  • Phase 1 of the curve is a period of rapid growth and expansion.
  • Next, in Phase 2, you’ll notice Practice growth beginning to slow.
  • After that, your Practice will become stagnant. This is Phase 3—the plateau—and it is a very stressful time for any business owner. Many doctors will try to bring their Practice OUT of the plateau phase by tinkering—that is, by making small, menial changes that they hope will revive the business. Consider this a “last ditch effort”. The problem is, none of these changes are big enough or consistent enough to actually create a SECOND curve… And restart the growth process of Phase 1.
  • Consequently, the Practice continues its plateau until it finally reaches Phase 4—the decline. Production drops, collections decrease, and most Practices will be forced to lay off team members, and eventually close their doors. In an industry as competitive as the one you’re in, the likelihood of staying open after you hit the decline phase just might take a miracle. (But we’ll come back to that!)

Let’s do a quick diagnosis. Do any of these statements apply to you?

  1. You’re working harder than ever, but you just can’t seem to work hard enough to get ahead.
  2. You feel like the ceiling is coming down on you.
  3. Your daily schedule look very “busy” but you sometimes struggle to afford to pay yourself after payroll.
  4. You don’t have the same passion for practicing that you used to have.
  5. Your work stress has begun to affect your home life; you find yourself stressing about the Practice when you’re with your family.

Chances are, if you answered “Yes” to any of these questions, your Practice has not only reached the Plateau Phase, you’re probably desperately trying to “tinker” your way out of it! The fact is, that strategy just won’t work. Giving your office a facelift, hiring a new team member, or buying new signs will NOT drastically change the future of your Practice…

But remember when I said “staying open after you hit the decline phase just might take a miracle”? Okay, well—I don’t exactly have a miracle for you, BUT I do have the one and only solution that has been tested and proven to revive your Practice once it has hit a plateau… AND even prevent the plateau phase entirely! Are you interested?

You have got to make new patients your Number One priority.

I’m not exaggerating when I say that new patients are the lifeblood of your practice—they are what keep your doors open and keep you in business. They are what provide your team’s salaries, and money for you to take care of your family. The truth is you aren’t too BUSY for more new patients; you simply aren’t operating with maximum efficiency, which is causing the “treadmill effect”. Think about it. You work and work and work, but you don’t feel like you’re making any progress! The inefficiencies in your Practice and your schedule are actually cannibalizing the lifeblood that’s going into your business… And making it impossible for your Practice to grow!

In case study after case study we have observed this to be true. Thousands of clients whose Practices were in plateau—some even in decline—decided to pour all of their energy and motivation into scheduling new patients. That means not only getting new patients to CALL, but making sure their teams were fully equipped to properly handle the conversation and schedule the new patient for an appointment. Keep in mind, these are two TOTALLY different things… A new patient that calls but is never scheduled falls right back out of the bottom of the bucket! (But that’s a whole long conversation on its own…)

You DON’T need to wait until your Practice has reached plateau or decline to start focusing on new patients… In fact, the Sigmoid Curve model dictates that the IDEAL time to start a brand new curve and virtually double the life of your business is before plateau— when your Practice is still experiencing some level of growth. If that statement applies to your Practice, then take this advice: learn from the mistakes of hundreds of thousands of doctors before you, and start implementing positive changes NOW, rather than waiting for the downward spiral. Trust me… It will be much, much harder to grow the business if you wait. Start Now.

If you’re serious about seeing major results in your Practice, you need to get serious about assessing your Practice’s inefficiencies. Thinking that you don’t need any more new patients is an inaccurate, even DATED perspective… And it will give you a significant disadvantage against your competition. I should know, because a lot of them are my clients, and their new patient numbers are skyrocketing—allowing them to invest in enormous buildings, buy new and better equipment, hire associates, and multiply their marketing efforts!

Do yourself a favor. Call 866-917-2808 today– by tomorrow, you could be creating a different future for your Practice, yourself, your team, and your family.

Until next time,

jaysig

Jay Geier

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The 3 Backstage Spaces That Will Drastically Improve Your Office’s Productivity

Imagine that you’re a patient. When you walk into a dental office, what’s the first thing you notice?  Probably the waiting room, or the reception desk, full of phones and friendly faces… right?

Ok, but what about the spaces you don’t see? Would you believe me if I told you that some of the most IMPORTANT areas of your Practice are never even seen by your patients? These three behind the scene spaces are proven to drastically improve efficiency and productivity in your office… leading to a much better experience for your patients! Check them out below…

Staff lounge…

Every Practice needs a space to gather as a team, go over the schedule for the day, discuss the patients to be seen and any anticipated actions that will be required.  You need a staff lounge large enough to accommodate your entire staff, a place to meet, interview, strategize and celebrate.  Also – a staff that eats together stays together!

Call center…

Absolutely essential for multi-location Practices and fairly essential for any Practice focusing on increasing new patient numbers and patient recall percentages!  The call center needs extreme privacy for focus, and can be remote from the actual practice.  However, in my experience, having the call center directly and conveniently manageable by administrative staff is a far better alternative whenever possible.

Marketing director’s office…

You do have a marketing director…right? He or she needs a space that allows for manning the phones, negotiating contracts and planning for future campaigns, etc.  This office should be very close to the entrepreneur doctor’s office, if at all possible.

Trust me – the addition of these spaces in your Practice will improve your patients’ experience and satisfaction IMMENSELY!  For more information on how to add to your overall experience for your patients, call my team of experts at 866-917-2808!

Until next time,

jaysig

Jay Geier

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The One Decision That Increased Dr. Davis’ New Patients by Over 82%

At some point over the last few years, you might have received a flier for the Financial Freedom Weekend that I host every year. Some of you read the flier and decided to attend, and some of you threw it in the trash. It seems like a tiny, insignificant decision… But do you realize that one split-second decision has the power to change the course of your entire life?

Dr. Mark Davis of Perfect Smile Tulsa received that same Financial Freedom Weekend flier in January 2013. He could have thrown it away… It’s just “junk mail”, right? But instead of rolling his eyes and tossing the flier, Dr. Davis began to read. A split-second, random decision. By the time he’d finished reading, the moment had become significant, something to remember for the rest of his life. He had seen a life raft.

Let’s rewind to where the story starts.

Shortly after marrying his wife, Marianne, in 1984, Dr. Davis had the opportunity to open his own Practice in a small office space with a prime location. The Practice averaged about 15 New Patients and $16,000 of production per month—with two young children and a newborn at home, finances were TIGHT. If anything ever broke in their home, and they needed something fixed at the office, the office always took first priority. Still, they were determined to make things work.

In 2000, Dr. Davis got word that the office building was going to be demolished to make room for a chain restaurant. Instead of assuming defeatist attitudes, Mark and Marianne decided it was the perfect opportunity to build a new office—their own office—that they could design from the ground up. So, they built the new Practice. They carefully decorated and equipped the rooms. Then, they waited for New Patients to pour through the front door… And they waited…

“Our big problem was that our New Patients weren’t going up. You have to think of it as a bucket, and your New Patients are going in the top. Well, we always had a HOLE in the bottom of our bucket—they were coming out just as fast as we were putting them in,” said Marianne.

After a few months, it became clear that the new building was not going to help their situation. What should have been a great success became a very apparent flop. Ernie, Perfect Smile Tulsa’s Practice Manager, admitted, “The direction was not always clear. We knew we had goals that we were shooting for, but there wasn’t real purpose and passion and drive to reach those goals. Most importantly, there wasn’t the skill set and the leadership to help us get there.”

“It was hard to watch Mark lose interest… motivation… Not because he didn’t want to make the Practice a big success, but because he didn’t know how,” Marianne explained.

 

Until one day in January of 2013, Dr. Davis opened his mailbox and saw a flier for the Financial Freedom Weekend. Rather than finding reasons NOT to go (we can’t afford it, it’s too far, what about the kids?), he and Marianne decided to make the trip to Atlanta. It was a LEAP of faith (or desperation)…

On the flight down, they agreed that they wouldn’t buy anything while they were there. They also decided that if they didn’t find some answers over the weekend, they’d consider selling the Practice and getting out of dentistry. “We were sick of being on a treadmill and running as fast as we could all the time. We were pedaling and pedaling, and getting nowhere except older,” said Marianne.

But dentistry wasn’t through with them yet. Over the weekend, they learned new ways to manage their finances, and got a fresh outlook on the future of their Practice. “We were hooked,” Marianne confessed. “Jay outlined a plan where you can be a giving person, and have fun, and make your Practice into what you’d always wanted it to be.” At the end of the second day, they looked at each other and said, If we don’t do this… We’re crazy!

Dr. Davis enrolled in the 5X Coaching Program that day.

For the first time in 30 years, Dr. David finally understood what it meant to be a leader, and wasted no time turning up the heat. Instead of waiting around for New Patients to show up, he began to actively market to them. Finally—for the first time since opening the new office—New Patients flooded into the reception area. I’m proud to announce that Perfect Smile Tulsa has seen over an 82% INCREASE in New Patients since joining the 5X Program, and the number continues to rise.

But MORE New Patients mean more room to grow in other areas, right? That’s why Dr. Davis expanded his all-star team to include a Patient Experience Coordinator, additional office assistants, and a skilled associate who will help him to DOUBLE production. Additional changes include: rebranding the Practice, creating a home office, implementing a VIP Program, buying new and improved signs, giving out patient appreciation gifts, and holding patient referral drawings (which have caused referrals to skyrocket by 156%!)

That’s a LOT of change in a short amount of time, but I’m sure Dr. Davis and his wife will tell you that every second has been worth it. The once struggling Practice has seen such enormous success over the last few years that they’ve maxed out their usable office space, and are opening a second location this year.

Your day is filled with thousands of tiny, forgettable, split-second decisions. You can always choose to do exactly what you’ve been doing. You have the choice to be unhappy at work, and let that seep into your home life.

But don’t fool yourself. That’s all it is—a CHOICE.

Which means you also have the choice to change… to try something different that could take you places you never thought possible. What will you choose?

Call 866-917-2808 today to find out more information about our 7-Time Award Winning Coaching and Training Programs. Don’t let the fear of change prevent you from having the life you deserve.

Until next time,

jaysig

Jay Geier

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How to Actively Increase Your Net Worth

Many Practice owners seem to think that income is the number one factor in measuring their financial success… but actually, net worth is a MUCH more accurate measurement of how well a person is doing financially. It’s the number that every single businessperson in the top 1% cares about the most—the number they track, and use to make important financial decisions.

You can find your net worth by solving one simple equation: what is OWNED minus what is OWED.

So, let’s do a quick exercise. Get a sheet of paper and a pen, and write down a list of every single asset that you own, including your house, your Practice, investments, cars, etc. Beside each item, write its estimated dollar value (in the current market). Not what you hope it’ll be worth someday… But how much you could actually get for it if you sold it today. Now, add up all of those amounts—THAT’S the value of your assets.

On another sheet of paper, write the word “Liabilities”. Liabilities are what you OWE on those assets—so, credit cards, car loans, mortgages, student loan debt, etc. List everything that you can think of, and calculate the total.

Finally, subtract your liabilities from your assets, and Voila!–you’ve found your net worth. That is how much liquid cash you would have if you sold all of your assets to pay off your debts. In this imaginary scenario, you’d be homeless, without a Practice or a job, or a car to get around in—but (possibly) very rich.

So, what’s the secret to increasing your net worth?

It’s common sense, but very few people approach it strategically. You need to actively work towards INCREASING your assets, while DECREASING your liabilities. Let’s start with your liabilities.

When it comes to paying off your debts, there is—sadly—no magic solution. You just need to start. List what you owe from smallest to largest, and start chipping away at the smallest one. Make paying off your credit cards every month a HABIT, or—if you’re too far in debt—put 15% of each paycheck towards paying them off. Alright, but what about increasing your assets?

For most Practice owners, there are three main vehicles for gaining wealth.

  • Purchasing real estate
  • Developing cash and investments
  • Continuously increasing the value of your business

Typically, increasing the value of your business FUELS the other areas… And there are TWO super effective, foolproof ways to supercharge the value of your business. Thousands of doctors have used one or the other or BOTH of them to see production increases of 200% (and higher) in one year!

If you’d like to learn how to supercharge your Practice and start actively building your net worth, call 866-917-2808.

Until next time,

jaysig

Jay Geier

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Are You LOSING 33% of Your New Patients Every Day?

Let me ask you a question.

What would you do if you knew that your receptionist was kicking 33% of your New Patients in the shins when they tried to come into your Practice? You’d lose it, right?! That’s a HUGE problem, and you would NEVER allow that to happen in your Practice… you would put an end to that immediately, no matter what!

Yes, I know that’s a pretty ridiculous example, but your staff REALLY is unknowingly turning away 33% of your potential New Patients every single day! The scariest part is that you aren’t even aware that this is happening.

On Tuesday, I wrote about how your telephones are by far the QUICKEST, CHEAPEST, and EASIEST way to boost all areas of your Practice, but the fact is, 75% of you aren’t going to take my advice. I feel so strongly about this topic that I wanted to take one more opportunity and spend a little more time and energy explaining it to you. Because I promise, for the 25% of you who DO take my advice, you won’t believe the amazing effects it will have on your New Patients, production, AND collections. You will be completely AMAZED.

I know you’re thinking “but my receptionist is so sweet and personable… surely she can’t be turning away my valuable New Patients…” I’m telling you, it’s happening. My team has surveyed and tested over 37,000 front desk schedulers, and the same mistakes happen over and over again (and the New Patients just disappear). So what is it going to take? Do you really need them to blatantly kick someone in the shins before you notice that there’s room for improvement at your front desk?

Here’s the GOOD news: If you’re part of the 25% of dentists that are smart enough to see that there is always opportunity to be better, then you can suture the holes in your Practice and stop bleeding New Patients. It’s not a “quick fix” solution, but if you invest a little bit of time into fixing this problem, you will see tremendous results. Here’s why…

You have a HUGE hole right at the beginning of your New Patient pipeline… it’s all about how you handle your New Patient inbound phone calls. This hole literally creates New Patient and profit leakage of epic proportions, and I don’t mean a drip-drip kind of leakage, I mean an actual HEMORRHAGE of income and profits that you should be taking home.

Here’s how it’s happening: Your phone is ringing, and (if it is being answered at all) your front desk is bungling the New Patient opportunity because you’ve never trained them on how to do it properly! Poor service, poor telephone skills, and poorly trained staff will always produce poor results for you, your Practice, and your patients.

It’s time for a big reality check.

Your front desk is not handling inbound calls effectively, but it isn’t their fault. It’s your fault. When you were looking to fill a front desk position, you probably hired someone to be “the friendly voice on the other end of the line.” Not caring if they know about streamlined scheduling, selling the value of treatment, or how to avoid verbal vomit! You haven’t invested in training them on “closing the sale” so-to-speak, or—if you’re one of the few doctors who HAVE— you’ve invested in minimal training because you didn’t see the big deal. They’re just answering phones, right?

WRONG. Just take a look at the math to see what your telephones are costing you! Every single New Patient you lose is worth about $1,500 to your Practice over their lifetime (and that’s a LOW END estimate). Let’s say that 15 New Patients call your Practice this week, 5 drop out of the “gaping New Patient hole” caused by your undertrained staff (which is another generous guess,) and this happens every week. That means that your Practice loses $7,500 each week… $30,000 each month… for a grand total of $390,000 in ONE year. Let that sink in for a second (and think about what you’d do with an extra $390,000 every year)!

Not only are you LOSING New Patients, LOSING money, and WASTING time, but you aren’t providing your potential patients with the care and service they deserve. In my opinion, that’s the “cardinal sin” of dentistry! The patient should ALWAYS come first.

I can point at the problem all day long, but YOU have to be the one that decides to fix it. I know that 75% of you still don’t believe me… so I’d like to prove it to you. Take less than 2 minutes (yes, we timed it) and visit www.SchedulingInstitute.com/sign-up/readiness-rating/. Complete the QuickStart form and we’ll send you a FREE assessment of how your office is treating your New Patients on the phone.

When you get the rating, you can do whatever you want with it. You can ignore the truth, deny the results… what you do with the information is totally up to you.

But I hope, for your own sake (and for your patients), that you’ll realize that your phones are the missing piece to the puzzle—the one thing that can take your Practice to the next level. Then you’ll pick up that phone and call us at 866-917-2808because you want to be the best, and give the #1 Dentist in your town a run for their money.

 

Until next time,

jaysig

Jay Geier

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The Quickest, Simplest, and Cheapest Way to Fix a Flat-Lined Practice…

I’ll be honest. It is SO easy to lose focus on the “basics” when you think you’ve already mastered them. I’ve seen it so many times. Maybe you “fix” your phone problems, train your team once, and you think that they are set for life. Or perhaps you assume that they’ll be able to maintain what they’ve learned and never forget the training we gave them…

 I hate to break it to you, but that just isn’t the case.

It never has been true, and it never will be true. Everyone needs ongoing training and everyone performs better with accountability.

REMEMBER: Getting your team trained to effectively answer the phones is the quickest, simplest, and cheapest way to fill a flat-lined practice with new patients! 

So consider today a quick recap in your on-going education. Here are 5 quick tips that will ensure your team is actually BOOKING new patients! Read these with your team at lunch to help refocus everyone on the foundation of your practice… the telephones!

  1. Always keep a positive tone. Speak with a smile, trust me… the person on the other end of the phone can hear a difference!
  2. Avoid verbal vomit. There’s nothing worse than inundating a potential new patient, or an existing patient, with details and information that they don’t need. It’s a major turn off for a patient!
  3. Use the 3-part greeting. Your practice name + your name + “how may I help you?” = the perfect greeting. More than that just becomes a cluttered mouthful, less than that sounds unprofessional.
  4. Utilize the Role Play Hotline when you need to practice your telephone skills. Our experts are standing by to help you learn, practice, and fine-tune your phone skills.
  5. Always maintain your Scheduling Institute certification. Even the nicest, fastest, and greatest cars in the world require oil changes and maintenance. Your telephone skills are no different. Stay current with your certification to make sure that you are ALWAYS providing the best possible care and service to your patients.

Until next time,

jaysig

Jay Geier

 P.S. — I can have a Certified Telephone Training Specialist in your office teaching my world-renowned telephone training in no time. If you’re serious about growing your practice, you should be training your team on the phones every single year… Call my team to find out why: (855) 519-8880.

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Dr. Nick Cost’s Message on Impact

Today I am just going to take a moment to share some of the words of my client, Dr. Nick Cost, who has really had an incredible journey over the past few years and continues to impress me with his desire to grow, both personally and professionally. He sent an email to my team a few months ago and, as I reread his message this morning, I couldn’t stop grinning. It is one more perfect reminder that everything we do is about the IMPACT.

quotesSo, I’m sitting out in Scottsdale, AZ (I’m out here for a four day seminar) and I just took a break from some work to watch the Friday 5X Focus, and let me tell you this… The reason why I feel so blessed to be coached, work with, and collaborate with SI is because of the amazing sense of Giving and Gratitude that your company puts out into the world.

I think it’s amazing, and I can tell you this–I have never been so proud to work with such an amazing organization. I know I must have done something right to have been given the opportunity to work with SI and DDS Financial. I just want to let you know I am all in. I look forward to being in Jay’s 1000 docs making a million club and giving back 100K in charitable giving each year. And when y’all are ready and need an office to step up to the plate and give back and donate some top notch dentistry just say the word! Thank you so much for everything y’all do!

quotes

I hope everyone is having a productive, impactful Tuesday! Let’s all work our hardest to make the most of this week!

Until next time,

jaysig

Jay Geier

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