Practice Growth—There Are No Guarantees!

Last week I spoke to several hundred doctors at one of my two-day seminars . Here’s something that probably won’t surprise you—they had many questions about the economy. In the course of speaking to dentists and specialists on a regular basis, I have sensed a general feeling in the dental community that everything will return to the way things used to be just by “waiting it out.” Unfortunately, I’m afraid that’s not going to happen.

With so much practice data at our fingertips, we are seeing new patterns play out across North America. This recession has reset not only American values, but how and why Americans buy services. For example, patients have an entirely new set of principles as to how they approach treatment and payment options. OMS practices taking steps to become excellent businesses will be the ones that emerge from this current economy stronger than ever before.

Those that choose to simply “wait it out” should not be surprised when they continue to experience flat or declining production even after economic conditions begin to improve. There has been a shift in patient and referral doctor behavior. OMS practices must implement new systems to accommodate this shift and return to a profitable growth path.