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indicators) is like flying a jet airliner through a storm at night without the use of the cockpit dashboard: reckless endangerment. You may think you know where you are and where you’re headed, but chances are (very) high that you are (or will soon be) off course. And make no mistake … even if your practice is successfully crushing it today, you can do even better when you have a clear picture of exactly where the untapped opportunities were hiding! How often should you look at your practice dashboard? The answer is easy. How often would you want the pilot of your next flight to glance at his or her instruments!? In order to run your practice most effectively, you should be looking at your dashboard at least once per day. Of course, there are some KPIs that don’t need daily attention. Looking at them once or twice a month during your weekly team meetings will be fine. But there are other KPIs from which you will gain clear advantage by at least a quick glance every day. For example, consider the following: TEAM BONUS SYSTEM The only way to take full advantage of the motivational power of your Team Bonus System is to have your Team Bonus System Cheerleader show a few key numbers to your entire team every day during the morning huddle. This used to require some effort on the part of the team member to find those numbers from a spreadsheet and then make some calculations. Now, with the advent of the Gems Dashboard, your TBS Cheerleader need only log in and all of that is calculated and displayed for you! Now, instantly, at a glance, you can see your weekly goal and how many days and dollars are left to go to hit that goal. You’ll see the numbers, and you’ll see it visually in the form of a Team Bonus System Thermometer. The image shown is a screenshot from the new Gems Dashboard. It is exactly what you’ll see each morning just by logging in. No more Team Bonus System spreadsheets! Instead, at the end of each day, your •
team simply types in production to date for the week, and everything else is done for you by the Dashboard.
of better care or service, and your practice enjoys increased income and/ or smoother operation, etc. Fast forward one year. Remember that “Gem” you and your team successfully deployed a year ago? It worked well, patients were happier and healthier … it was great for the practice, etc. Did you notice you’ve not been doing that Gem for quite some time now?! The classic comment from the Doctor to the team (when he/she realizes it’s no longer being done) is “Hey … when did we stop doing X?” Nobody seems to know when or why. All we know is that it’s no longer being done. What if there were an INSTANT VISUAL ALERT warning you within SEVEN DAYS that there’s a problem?! How cool would that be? Well, once you begin any of the challenges, you will see a VISUAL ALERT when you cease entering the most recent data … within just one week of the time it stopped! These are just a few of the exciting new features and benefits available to you as a Gems Member through the new Gems Dashboard. The Dashboard is live in beta testing right now. As soon as we are confident we’ve worked out most (you’ll never get ‘em all at once!) of the bugs, we’ll begin to roll it out to all Gems Family Members. I’ll be creating various video trainings to help get you and your team up to speed on best use of your Dashboard, and your Personal Gems Concierge will be performing one-on- one training with you as well. Stay tuned!
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GEMS RATIO If you’ve been here on Planet Gems for any significant length of time, you’ve heard me speak about the huge opportunity of long-term, in-house financing … “Financing the Unfinanceable,” but, of course, only with certain patients and certain critical guidelines in order to best mitigate the risk. This is all explained in GoldMine UnderGround Team Training Toolkit Episode 15. In that GoldMine episode, I also explain that the only time I would recommend internal long-term financing is when your Gems Ratio is less than or equal to 1.2:1. That is, your True Accounts Receivable is no more than 20% bigger than your average net collections.
"What if there were an INSTANT VISUAL ALERT warning you within SEVEN DAYS that there's a problem?! How cool would that be?"
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THE CHALLENGES Tell me if the following scenario is at all familiar: You go to a seminar, read a book, or watch a video about something new you’d like to implement in your practice. Let’s call it (no surprise) a “Gem.” You meet with your team, discuss how to deploy it, and voila! Your patients get the benefit
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