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It may come as a surprise, but there are only a few key factors that make top-tier practices stand out from the pack.
It’s obvious to expect that practices with production in the Top 10 percent will do certain things differently than most other practices. What may be unexpected is that only a few key things set them apart. However, over time this small collection of differences allows them to build superior practices that operate efficiently with low-stress and high production.
Understanding the Top 10 percent
Over the last 30 years, ongoing research by the Levin Group Data Center have resulted in a better understanding of Top 10 percent practices and how they differ from others. Our objective in this study has been to evaluate what they do differently and which of those aspects can be replicated by other practices. Our findings show that the vast majority of the differences that contribute to the success of Top 10 percent practices are simply that they do certain key operations only slightly better than others. Their real secret of success is that they do them consistently and continuously and that builds on itself over time.
Differences of the Top 10 percent
It would be wonderful if I could outline the one thing that every practice should do to be a top-performing practice, but that is mere fantasy. Practices that perform in the top 10 percent did not get there overnight and there was no one thing that propelled them into that success. These are doctors who focused on creating a well-run and efficient business, and through experimentation, education, or consulting were able to put together enough operational processes at a high-level. Most of these practices gradually moved into the Top 10 percent and have remained there.
There are approximately 25 key areas where Top 10 percent practices outperform others. While they do not always outperform in all 25, their secret is, again, that they do them consistently. Over time that leads them toward long-term success. Here are five of those key areas where top 10 percent practices perform well:
Top 10 percent dental practices are not vastly different than other practices. They simply do certain things slightly better. The difference is in their consistency, which helps them build success over time. Consider the five areas listed above as ones that can be improved for greater consistency in your practice. When you do, you could be well on your way into the Top 10 percent.
ROGER P. LEVIN, DDS
Roger P. Levin, DDS is the CEO and Founder of Levin Group, a leading practice management consulting firm that has worked with over 30,000 practices to increase production. A recognized expert on dental practice management and marketing, he has written 67 books and over 4,000 articles and regularly presents seminars in the U.S. and around the world.
To contact Dr. Levin or to join the 40,000 dental professionals who receive his Practice Production Tip of the Day, visit www.levingroup.com or email firstname.lastname@example.org.