Top 5 ways to prepare your dental practice for tough economic times

It's always a good idea to be prepared for unexpected economic challenges, but the recent government shutdown has added a new level of uncertainty to an already tumultuous economic climate.  Read on to find out what to expect - and how to be best prepared - when faced with the unexpected.

1. Be ready when it happens

If another recession does indeed hit our economy, it will be amazing how many people will be caught off-guard and not prepared. Don’t let you and your team members be among that group. Talk to your accountant. Look at the financial numbers of your practice with a close eye. See where you are and where you have been, then visualize where you want to be. There are financial professionals who can help you get there … if you know your numbers.

2. Make a pact in your office to stay positive

As you can read in an earlier quote by Dr. Guy Gross, you need to make sure that, as an office, you’re prepared and willing to take the “glass half full” approach. Perception really is reality and if you believe things are not good, they won’t be. Make sure that each of your team members is ready to be positive and do whatever it takes to stay that way. Hold regular team meetings and make sure everyone is moving forward in a positive direction. If you have a Debbie Downer, it’s a great time to confront that person and his or her negative attitude.

3. Take your training to the next level

Some dental practices will do nothing but sit around and wring their hands about what might happen. Don’t be that practice. Have lunch-and-learns to discover new procedures that could be incorporated into your practice. Talk to your sales rep and get some ideas on local courses where your entire team can hone their skills. If patients become choosy with their dollars, make sure they know they are investing in your team and practice because you are up-to-date with the latest techniques.

4. Find out what your patients want

When is the last time you took a survey and asked your patients what they would like to see in your practice? Maybe it’s short-term orthodontics. Maybe it’s more whitening options. Whatever it is, make sure you know and you’re prepared to offer your patients exactly what they are looking for.

5. Discover where you can be more efficient

It’s never a bad thing to look at your systems and see where you can improve. Are you wasting minutes doing something that could be put to good use in patient relations or another technique? Take a look at how everyone (yes, everyone) in the office is using their time and see where you can improve. You only have a certain number of hours in the day. Why not make the most of it?