... continued f rom cover
are in-network with PPOs for whom you are a provider, then plan on reducing by 200 patients in the coming year. That might be one larger plan or three smaller plans. The 20% goal represents the number of patients by which you’ll reduce your obligation to accept cut-rate fees. How do you decide which plans to cut first? Cut the plans that require you to take the deepest discounts off of your fees. Let’s say there’s one plan that represents 20% of your managed care patients, but that plan only requires you to reduce your fees by 10%, whereas three other plans making up another 20% of your managed care patients require you to sacrifice an average of 28% of your fees … that’s where you begin. "A very realistic goal for the next 12 months: reduce your dependence on managed care by dumping the worst 20% of the plans currently holding you hostage." Be smart. Don’t dump any plans until or unless you’ve first replaced those patients with additional new patient flow. Read my “Delta Resignation Strategy” report and letter which should be used as you exit any plans (not just Delta) … in order to retain the highest possible number of patients on the plans you’re leaving. Be prepared to lose them all (by adding more new patients), but do your best to retain the highest possible number. Ask your Personal Gems Concierge to help you find this resource, or go to InsidersCircle. com SITE MAP STRATEGIC DOCUMENTS DELTA resignation letter to patients v3.
35–40 new patients per month to 50 and up. The reason for the range is that some offices may be doing only bread- and-butter dentistry and low fees while another practice may be full fee-for- service and routinely performing full- mouth reconstruction. Regardless, if you want to boost your revenues in 2020 and reduce your dependence on managed care, then increasing your new patient flow by 20% is a good goal for your next 12 months. Of course, you’ll want to focus on strategies that target new patients who’ll pay fee-for-service. Ask your Personal Gems Concierge to assist you with the following resources: a. Dr. Chris Phelps’ targeted marketing to active seniors using the Wine and Cheese events (see the article in the “Recently Unearthed on Planet Gems” column in this issue titled “Laser- Focused Target Marketing Fee-for- Service New Patients”) b. Reverse engineering your patient list to identify local businesses that don’t offer dental insurance then reaching out to those businesses and offering all of their employees their first year of your Dental Benefits Savings Plan for FREE. If you don’t yet have an in-office Dental Health Benefits Savings Plan, ask your Gems Concierge to have our graphics folks help you create one today. Although the need to hire new team members is an issue from time to time, more often than not, Dentists reported their biggest concern with their teams was accountability: getting the team all rowing in the same direction and continuing to row hard without having to be asked! If your team members don’t see your vision and aren’t focused on helping you get there … it’s not their fault. They need you to be the leader who defines the vision, maps a plan to get there, and BECOME THE LEADER YOUR TEAM NEEDS YOU TO BE.
then leads them along the way. That includes a system for accountability. If you’re not yet using the Gems Action List at every team meeting, ask your Personal Gems Concierge to give you access to your Google shared Action List. Once you begin using this tool, you’ll never look back. It’s one of the simplest, most powerful tools on the Planet! Finally, watch (or if you’ve seen it in the past, then revisit) “An 18-Step Plan for Leadership Excellence.” In this video, I reveal exactly how to develop your vision of your perfect practice, how to share that vision with your team, and how to lead your team along that journey. For this resource, ask your Concierge or go to InsidersCircle.com SITE MAP GOLDMINE UNDERGROUND TEAM TRAINING TOOLKIT 029 AN 18 STEP SYSTEM FOR DEVELOPING LEADERSHIP EXCELLENCE. order to make 2020 your best year ever. There are three pieces to the equation: increase fee-for-service new patient flow, decrease the number of patients for whom you’re required to accept reduced fees, and define and share your vision with your team. Become the leader they need in order to help you achieve the practice you desire. This is a simple plan, one which I’m confident you can accomplish in the next 12 months in
2. INCREASE NEW PATIENT FLOW BY 20%.
I’m going to use a solo practitioner as an example. However, if you have three Doctors, simply multiply these numbers by three. A healthy new patient flow for a typical solo Doctor ranges from
Remember … you’re only one Gem away!
2 InsidersCircle.com | 1-888-880-GEMS (4367)
Made with FlippingBook Annual report