Tag Archive | dental performance institute

Are you opening a New Dental Practice, but need assistance with completing the puzzle prior to opening? Our proven customized methodology WILL assist you to complete your dream.

Puzzle pic

Congratulations!!! Your dream is finally becoming a reality as you look forward to starting your own dental business (single location, single location to grow into group practice, or multi-site locations). You are in the process of finding that initial location that will suit your needs. While searching, you start to think of all the tasks, operations, and logistics that must be put into place prior to opening your doors and you start to get that overwhelming feeling. You know what each puzzle piece is, but are not sure how or even where to place the pieces on the board to complete the puzzle. This is where Dental Performance Institute can assist you. We’ve created a customized methodology to assist dentists, dental specialists, and oral surgery start-up practices in setting up their logistics, trusted advisors, operational modules, team dynamics, and standardization, which then leads to a smooth Grand Opening Day!

To start the process, we schedule a time to meet with you or speak by phone to discuss your Start-Up practice vision and goals. During our meeting, we start with the design of your customized operational, logistical, and trusted advisor task checklist, which allows us to understand the tasks you have already completed and tasks that still need to be put into place.

Below is a basic list of tasks (just to name a few) we focus on to get your practice ready to open its doors.

  • Business Plan Review and Guidance
  • Business / Practice Organizational Structure Creation
  • Registration of Name and Address of Business. Obtain Tax ID
  • Create Branding – Logo, Tagline, Website, Marketing, Promotions, and Advertising Guidance and Implementation
  • Business Services – Accountant, Attorney, Business Banking, Credit Card Processing, etc.
  • Create / Enhance Advisory Team
  • Business Insurance
  • License Information Updated – Address
  • Insurance Credentialing and/or Renegotiation
  • Human Resource Management and Compliance – Employee Handbook, State and Federal Labor Laws, Job Descriptions, Rules, Regulations
  • OSHA & HIPAA Compliance
  • Associate to Owner Mindset Mentoring Workshop
  • Budget Planning
  • Goal Setting
  • Sourcing for Team Members, Interviewing, Proper Staffing and Training, Personnel Forms
  • Practice Management Software Implementation and Training
  • Operations Module Implementation, Workshops, Hands-On Training, and Role-Playing
  • Treatment Planning, Presentation, Scheduling, Collection, and Influence
  • Remote Scheduling Prior to Opening Day
  • Metrics Tool Creation & Monitoring Services – Customized to your business and model.

After getting a solid understanding of where you are within your Start-Up Practice process, we then work diligently to customize your New Start-Up Program. Once created, we discuss with you the schedule and steps involved, come to agreement, sign paperwork, and get your New Start-Up Practice Program underway.

Trusted advisors are an imperative action task that must be part of your New Practice Start-Up process. We will assist in directing you to the following Trusted Advisors that will help to complete your Start-Up Practice experience – without headache and continue working with you as you grow your business.

  • Healthcare Bank Loan Consultant – Secure a loan that works specifically for your financial circumstances.
  • Corporate Real Estate Advisor – Partners with you to not only locate the perfect dental property, but assists in area demographics as well.
  • Attorney – Focus on setting up your entity properly, facilitating commercial real estate transactions, advisor for lease negotiations.
  • Business Insurance Advisor – Dental specific.
  • Dental Office Design & Build-Out Experts – Works with you to build out your dream space, while offering ideas to design your practice.
  • Dental Specific Accountants – Creates projections for the 1st and/or 2nd year in business, then consults / coaches you in a proactive fashion to keep your business profitable.
  • Branding, Marketing / Advertising, Website Creators, & Internet Marketing Consultants.
  • Dental Specific Equipment & Supplies Vendor – Specializes in New Practice Start-Ups.
  • Practice Management Hardware & Software Vendor – With the Electronic Dental Records mandate, the proper technology environment is imperative.
  • Practice Management Software Trainer.

Your ideal location is chosen, lease is signed, sealed, and delivered, and the build-out is underway. Now is the time that our team immediately starts working with you to get your practice infrastructure, logistics, and operations in place prior to your Grand Opening!!

Q. What happens after I open? Does Dental Performance Institute continue to consult and coach us throughout the first 6-12 months?

A. Absolutely

The first few months after opening is when you, the practitioner and your team are working diligently to find your place in your dental world…your practice. You’re getting an idea as to the lay of the land, getting to know your team and their personalities, getting a feel for the equipment and practice software, observing and tweaking the previously implemented operational modules. Everything is taking shape. You’re getting into a routine. But, are the implemented operational modules, the logistics, and the team dynamics taking ‘proper’ shape?? This is where we continue to work with you, your team and practice. We schedule a handful of days with you while working with patients to observe your environment, course correct or make enhancements where needed to keep you on track.

Dental Performance Institute’s main focus is the growth of your practice and the success of it in the future. To inquire about our New Practice Start-Up Program e-mail us at Diana@DentalPerformanceInstitute.com or call us at 630-549-3224. http://www.DentalPerformanceInstitute.com

Diana Thompson invited to be Dental Practice Management Panelist Speaker for McGuireWoods Law Firm’s ‘9th Annual Healthcare Provider Conference’ – 9/18/14

9th Annual Healthcare Provider Conference Agenda.

Dental Performance Institute Announces the Launch of the ‘Entrepreneurial DNA’ – BOSI Profile Assessment Program

Chicago, Illinois– Dental Performance Institute is announcing the launch of a program tailored to assist the dental practitioner and dental business owner in understanding his/her Entrepreneurial DNA by completing and understanding BOSI’s Profile Assessments.

As a Certified Partner of BOSI Performance, (home of the book Entrepreneurial DNA), Dental Performance Institute is equipped to help the dental practitioner generate breakthrough success in their business while surrounding themselves with team members who will work with them to achieve their goals. BOSI stands for Builder, Opportunist, Specialist, and Innovator, which are the 4 behavioral DNA’s of an entrepreneur. BOSI’s research proved the simple but critical fact that not all dental entrepreneurs are the same. Each dentist possesses unique business traits and capacity.

“We are looking to assist the dental practitioner in understanding their specific business behavioral characteristics so they know which direction to take when focusing on certain operational aspects of building a successful practice.” says Dental Performance Institute founder Diana Thompson.

Discovering one’s Entrepreneurial DNA is the first critical step in understanding why certain operational areas of their dental business are not functioning at the levels they should. One’s distinct BOSI Profile will help determine entrepreneurial tendencies, strengths, and growth areas and will assist in choosing team members who compliment specific business behaviors. Whether one needs to optimize results within their current business plan or create a mapped strategic plan for a new venture, Dental Performance Institute will work with the dental practitioner and their team to formulate a game plan – mapped to their ‘Entrepreneurial DNA’.

For more information, call 630.549.3224 or visit www.dentalperformanceinstitute.com

Are All Dentists’ ‘Entrepreneurial DNA’ the Same?

If I had a dime for every time I was asked these three questions, I would be comfortably wealthy.

“Why is it that the dentist down the street is doing well operating his/her practice and I am struggling to make mine a success? We have the same sized practices and are operating them the same way!”

or

“I have a revolving door when it comes to my staff. How do I hire the right people to work with me?”

or

“My business partner and I agreed to part ways. Why is it that a large percentage of dental partnerships fail?”

 The Answer

Because there is no longer a ‘one-size-fits-all’ approach to operating a dental business, hiring the right team to complement or add to the success of that business, or choosing the ‘right’ dentist as a business partner. Let me explain.

I looked up the definition of an entrepreneur in The Merriam-Webster Dictionary. It reads, One who organizes and assumes the risk of a business or enterprise.’ So I think it is safe to say that the majority of dentists, who own and/or operate a practice or business, are entrepreneurs.

For many years, dental entrepreneurs have been placed in a jumbo box with the belief system that the techniques used or followed to operate a business; hire the right team members, and possibly form a partnership should be approached the same way, with the same methodology. This thought process and direction is just not true anymore because not everyone is genetically built the same way. Unfortunately, this notion has put some practices and companies out of business.

Point to ponder – Is Donald Trump the same entrepreneur as Richard Branson? Is Richard Branson the same entrepreneur as Dr. Oz? Is Dr. Oz the same entrepreneur as Steve Jobs? Think about their business behaviors, how they started out, the product or service they brought to market, and the road they chose to make a name for product and/or service.

In the 21st century, a new and different model, focusing on the approach and understanding of entrepreneurship is finally shedding its light. It’s called ‘Entrepreneurial DNA’ also called your ‘BOSI Profile’. BOSI stands for Builder, Opportunist, Specialist, and Innovator. ‘Entrepreneurial DNA’ and the BOSI Profile help the dental entrepreneur discover their distinct ‘mode of operation’ in both their business and personal life. So what are the characteristics of each profile?

The Builder or B DNA make up 10% of business owners. These are individuals who create highly scalable companies and grow them to millions (and billions) of dollars in revenues almost effortlessly. They are built to deploy high-growth systems and lead large teams.

The Opportunist or O DNA make up around 30% of business owners. They are drawn to ground floor opportunities and tend to dabble in multiple industries, often at the same time.

The Specialist or S DNA represents around 45% of all business owners. They go through years of schooling, apprenticeship or on-the-job training to develop expertise in an area. They tend to pick an industry and stay in it for 10-30 years.

The Innovator or I DNA make up around 15% of business owners. These are the ‘mad scientists’. They want to change the world with their innovation. They would much rather be in the lab of their business than in the office or around business operations.

These definitions offer a brief explanation to get you started on the path to discovering your unique ‘Entrepreneurial DNA’, while learning how to make it work specifically for you in your dental business and life.

What do you think your unique ‘Entrepreneurial DNA’ is? You can find out by completing your complimentary assessment at *BOSI Initial Assessment.

“Mr. and Ms. Dental Entrepreneur; you are unique. Your distinctive BOSI ‘Entrepreneurial DNA’ has and will continue to shift into action whenever a decision is being made. To make the right decisions, you must Discover your specific primary and secondary ‘Entrepreneurial DNA’ traits, understand the strengths and weakness of each, Design a plan of action just for you, and Deploy your customized plan into your marketplace. If you are interested in enhancing your current business plan or creating an action plan to work with your new business venture based specifically to your ‘Entrepreneurial DNA’, Dental Performance Institute can assist you.”