TESTED ways to improve your finances

Many principals, practice managers and associates have indicated thatthe have challenges relating to the financial aspects of dentistry or are interested in learning more about how to improve them.

Common areas that people, like you, approach me to assist them include;

• Budgets and financial projections
• Having sufficient at the end of the month
• Management reports and understanding them
• How to run a monthly financial review meeting
• Debt and accelerated debt repayment plans
• Income, profitability and cashflow
• Sales and pricing
• Salary structures and remuneration packages

What are your areas of financial challenges  or opportunities for learning more?

The numbers that count is a full day workshop that gives you tips and tools that you can implement immediately to improve the finances of your practice in the short and long term.

https://tp10d-module-3-2020-the-numbers-that-count.eventbrite.co.uk

We use the word PRICES as a framework to support you in understanding all the numbers that count for you and your practice.

One of the many tools that we will give you relates to our TESTED piggy banks that practices have used to transform their finances

T-= Tithing

E = Essentials

S = Savings

T= Transformation

E = Education

D= Delights

If you would like to know more about our TESTED piggy banks, how to use them and much, much, more, join us on Friday 13^th March

See you soon.

If you would prefer not to discuss your finances as part as a group, we can work togeher on a 1-2-1 basis, call 07989 757 884 or e mail Jane@IODB.co.uk to find out more.

With kind regards

Did you stress or struggle to pay your tax on time?

Did you stress or struggle to pay your tax on time?

31^st January deadline for paying your tax has now past, did you manage to pay it on time? If you did and can always pay on time you do not need to read any further.

However, if you like many dentists did struggle to pay their tax on time, please read on.

In December and January, the journals are filled with ads from companies offering loans to pay tax bills. Some people pay in staged payments with HMRC and others us 0% credit cards.

Have you now taken on a large debt that needs to be serviced, as well as having enough money to save for next year’s bill and to live a life worth living in 2021?

Experience shows that those dentists who take out loans to pay tax bills, very quickly they find they are caught in the annual debt cycle with all the stress, worry and fear that it generates.

Financial challenges with dentistry are very common either on a business or personal level or usually both.

There is another way, it is possible to be free of financial anxiety, and the Institute of Dental Business is here to help you.

We work with practices to

• Increase turnover

• Increase profitability

• Create stable cashflow

• Build financial reserves.

• Create financial freedom

Together we will make your good practice great.

We create a safe place to support people like you using

• 1-2-1 coaching

or

• In-house training

or

• Open workshops

Your success, its your choice.

The numbers that count - is a financial workshop, designed by dentists for dentists to enable you to experience financial freedom.

If you would like to know more about how we work with our clients, call today 07989 757 884

Your success is our business.

Why do a BPE?

Why do a BPE (Brilliant Practice Evaluation)?

As a dentist you will routinely screen your patients’ periodontal health at every examination and hygiene visit.

Why do we use a BPE?

• ·         It helps us diagnose disease
• ·         It helps us create the best treatment plans
• ·         It helps us create accurate estimates
• ·         It helps us monitor health improvements or deteriorations
• ·         It helps us educate the patients
• ·         It helps the patients understand their disease
• ·         It helps patients choose what is best for them
• ·         It helps patients engage in the process of health improvement

We have created a Brilliant Practice Evaluation (BPE) which you can complete online. This survey will take approximately 20-30 minutes and is an invaluable tool for you to obtain an independent, objective evaluation of the performance of your practice. You will receive an easy to read pictorial summary of your results.

Clients report our Brilliant Practice Evaluation

• ·         Helps you understand your practice.
• ·         Helps you with an independent, objective assessment of the practice
• ·         Helps you identify areas where your practice is performing really well
• ·         Helps you identify areas where your practice is under performing
• ·         Helps you understand the health of your practice
• ·         Helps you identify key areas for development, training or coaching.
• ·         Helps you design and engage in a practice development plan
• ·         Helps you choose what is best for your practice.
• ·         Helps you monitor improvement
• ·         Helps you engage the team
• ·         Helps you make the best decisions
• ·         Helps you by putting you in the driving seat
• ·         Helps you by demonstrating you are CQC compliant especially with KLOES E2.4, E3.2, E3.3, E3.4, W1 W2, W3, and W4
• ·         Helps you be in control
• ·         Helps you reduce your stress
• ·         Helps you improve your finances
• ·         Helps you improve your team
• ·         Helps you be successful

Complete your BPE on-line today. because,  

Patient Care Coordinators keep you safe

Patient Care Coordinators keep you safe

Many dentists. Hygienist and therapists are very anxious and fearful about being sued and referred to the GDC.

We know that patients complain when they are HASSLED

H         Hungry/ thirsty

A         Alcohol / drugs

S          Sick

S          Stressed

L          Late

E          Embarrassed

D         Disappointed

Introducing the role of a Patient Care Co-ordinator (not treatment coordinator) will reduce patient dissatisfaction and complaints.

Recently I have been at a series of social events and approached by a patient when she discovered that I am a dentist, business coach and trainer who is passionate to improving communication and patient care.

The background is that Choe (not her real name) had been visiting her dentist on a regular 6/12 basis and her hygienist on a 3/12 basis. She had been told that everything was healthy, and she had a healthy mouth.

A new hygienist joined the practice and Chloe was shocked to be told that she had active gum disease, with 9 mm pockets in her molar areas with significant bone loss. Chloe was devastated, in the absence of any explanation believed that the introduction of the use of tepe brushes by the new hygienist had caused the damage. As well as being devastated, Chloe was angry with her dentist, and hygienists and asked for her notes because she intended to sue and never go back. On receiving her notes Chloe’s was even more angry as she discovered they contained details about her forthcoming wedding and difficult relationships with a stepchild. She was even more determined to sue.

Chloe approached me to ask how to sue her dentist and hygienists. 

Instead, I asked her about why she wanted to sue and what she knew about her gum condition.

As a result, I was able to explain the aetiology of gum disease, the risk factors, including stress, burst theory, treatment options etc. etc. I was able to explain how information about her personal situation was useful to build rapport and to understand the stress factors in the disease.  At the end of the conversation Chloe was happy and I was able to reassure her that given what she had told me about her second hygienist, she was in very safe and competent hands.

“Why didn’t they tell me all of this before?” was a desperate plea

I know that in surgery you are busy, pushed for time and often not as much is explained as should  or coldbe and patient’s questions are often left unanswered.

What is said to the patient upfront is an explanation,  afterwards is an excuse.

Introducing a competent experienced Patient Care Coordinator will free up clinician’s time, enabling the patient to be given all the information that they need. This ensures the patient’s questions are answered, they have all the information they need, and a point of contact should they need it, will increase your patient’s feeling of belonging to your practice, improve retention and reduce complaints.

Whilst I am happy to speak to patients, allay their fears and prevent them suing, I would prefer that the appropriate conversations happen in your practice and not on my evening’s out.

If you would like to know more about the Patient Care Coordinator role and training

E mail Jane@IOB.co.uk or phone 07989 757 884.

Time management is one of the most common challenges that people have in dental practice.

Time management is one of the most common challenges that people have in dental practice.

Common experiences are

• Being too busy
• Not enough time to get everything done
• Not enough time to spend explaining treatment to patients
• No time for meetings to discuss urgent and important issues
• Running late
• Double booking
• No space for emergencies
• Being completely booked up for weeks in advance
• Not finishing work on time
• No work-life balance

When people are time pressured, they report noticing

• Stress
• Drop in quality
• Mistakes
• Complaints
• Less consideration
• Rudeness
• Feeling isolated
• Impact on physical al psychological health

If you are currently having challenges with time management, have done so in the past or worry about problems in the future, I wanted to let you know about a workshop, Planning time to succeed that will help.

This is a full day workshop that is appropriate for practice owners, Practice managers, clinicians and all members of the team.

It is part of our Transform your practice in 10 days suite of workshops and can be attended as a standalone module.

More information can be found here Planning time to succeed.

We look forward to you joining us on February 21^st and being able to overcome all your challenges and problems associated with time and appointment book management.

What impact will the Samira Ahmed / BBC ruling have on your practice?

What impact will the Samira Ahmed / BBC ruling have on your practice?

Last week the high court found in favour of Samira Ahmed and against the BBC, supporting her claim that her salary was lower because of her gender.

In the world of dentistry, I see many messages on Facebook and other online forums asking colleagues how much they should pay their team members. In the absence of much more information, this is tout amount to plucking a figure out of thin air and risking a claim of unfair pay.

Pay claims are costly, time consuming and incredibly stressful.

Can you afford to take that risk?

Can you justify why you pay your team members the amount you do and if there is a difference why it exits?

In dental practice I believe greatest risk of unfair pay is in two areas

• Between receptionists and nurses
• Between junior and senior team members doing the same/ similar duties.

I have long been a fan of and encouraged the use of a points based salary system.

A points based pay structure ensure salaries that are clear, transparent and beyond any allegations of unfairness.

Benefits of points-based salary structure

• clear transparent, fair.
• Simple and easy to operate.
• Team members feel rewarded when they have extra skills and duties
• Encourages loyalty
• Helps with budgeting pay increases
• Provides career progression

If you would like to discuss fair pay structures in your practice call me and I will give you the help that you want. 07989 757 884 or e mail Jane@IODB.co.uk

Do you feel as if you are on the hamster wheel?

Do you feel as if you are on the hamster wheel?

have you ever wondered why dentists, and practice owners choose to work with a coach?

Because know if nothing changes, nothing changes.

They are fed up and want to make a change.

There is no denying dentistry and practice ownership is stressful.

There is always so much to do and so little time to achieve it. The skills needed for practice ownership or being a successful self-employed dentist are not taught at dental school.

Principals, despite having a practice manager, often find themselves ill equipped to deal with leadership and management issues, building and managing a team, defining and establishing values and practice culture, manging finances, complaints etc.

It is often described as being on the hamster wheel, going round and round dealing with the same stuff, at a faster and faster pace and nothing changes, the exhaustion and stress levels increase.

Now is the time to get off the wheel and get a coach.

There are three reasons people, like you, come to coaching

• Success
• Fulfilment
• Legacy

Success this is the tangible outcome, more income, more profit, more time off, better team, better dentistry, better materials and equipment, etc Success brings with it the trinkets and toys that many dentists are striving for holidays, houses, cars, awards, fame etc

Fulfilment. This is less tangible; many clients don’t notice that they had a lack of fulfilment until they work with a coach and start to experiencing the benefits. An increased sense of fulfilment is a positive by product of working with a coach. Clients report that the process helps them become better dentists,  better leaders, better partners, better parents, better friends, a ripple effect is created across all areas of their personal and professional lives.

Legacy the ability to leave something lasting behind. This could be something small for their family, friends or business or larger for their local or global community.

One of the many reasons why the process of coaching is powerful is because it gives you an oasis to stop and think. The opportunity to

• Think strategically
• Think about the impact your choices or lack of choices are having
• Think about the affect your actions or inaction are having on yourself and those you care for.
• Think about better options

In the next decade for you to be a successful dentist and practice owner it is essential that you are

• Aware
• Adaptable
• Agile

Coaching will enable you to do this. For more information call 07989 757 884.

The eight sections in the wheel above represent Balance in your life overall.  Seeing the centre of the wheel as 0 and the outer edge of the wheel as 10, rank your level of satisfaction with each area of your life by drawing a straight or curved line (see example below).

The new perimeter of the circle represents your life as it is at present.  How bumpy would the ride be if this were a real wheel?

How satisfied are you with your balance wheel? 
Are the scores too low,
Are the scores too inconsistent,
Are there one or two areas that are having a negative impact n the others?

Now is the perfect time to make the changes you want.

We are here to support you.

We have a range of courses and workshops for you to grow your practice and team.

find out more.

Transform your practice in 10 days and other practice development programmes

Transform your practice in 10 days and other development programmes – An overview

Patient Centred Sales -BEST CHOICES

Patient Centred sales BEST CHOICES – An overview

Want us to create something bespoke for your practice, just ask, call us on 07989 757 884 or e mail Jane@IODB.co.uk

If you want

• More patients
• More time
• More money
• More engaged team
• More freedom
• Rapid and sustainable results

Contact us today

Jane@IODB.co.uk

07989 757 884