Celebrate 2020 and Reset for 2021: Your Dental Practice in Review
January 5th 2021
It’s a New Year and now is the time to Reflect on what you learned from last year and take the opportunity to Review, Reset and Realign your goals for 2021.
Take the time to review the following reports:
- Production and collection reports from last year. How about the adjustments? Take a look at them as well. You will be surprised how they add up.
- Review the outstanding dentistry or treatment plans remaining report. There is likely a staggering amount of work to do that needs to be scheduled.
- Review the Accounts Receivable report and see who is in the over 90-day category. Decide to collect or to Write off so you can start this year with fewer complications.
- Check the New Patient report and who they were referred by. This is very important for deciding on the 2021 marketing plan.
- And lastly, also review the attrition report. How many patients left your practice? Did you grow or stay the same?
There are what we call industry norms or benchmarks that you can compare your practice to. Benchmarks are reference points that you use to compare your performance against the performance of others. These benchmarks can be comparing processes, products or operations, and the comparisons can be against other parts of the business, external companies (such as competitors) or industry best practices. Have you set up your benchmarks for the new year?
The new year is also an opportunity to review your vision for your practice. Are you on track? Does your team know what the vision is and where you want to go? Now’s the best time to make sure everyone is on the same page.
Five Essential Areas to Reset for 2021
- Your team meetings should be revisited. Are they engaging and do they offer learning opportunities?
- What are your Continuing education goals for this year ahead?
- How many vacation weeks will you take?
- How many days and hours will you commit to working?
- What is your dollar per hour goal?
Take the time to reflect on this past year, to ensure that your new benchmarks, goals, and vision put your new priorities first this year.
Now most importantly, celebrate the accomplishments and the best memories of 2020!