Making your vision come alive
Having the vision is easy – it’s the execution that’s difficult.
Translating a vision into a series of practical actions is one of the most difficult aspects of transforming a business. But in these days of fast-paced technology and increased customer expectations, there are a number of companies that have created a vision for being more relevant in a changing consumer world, and then integrated positive processes that have enabled them to successfully manage the change process.
Netflix is a great example of a company that has been through this challenge, and small business owners, including dentists, can learn from their experience.
Five years ago, Netflix was a competitor of Amazon, sending DVDs through the post to its customers. But a positive vision of future consumer needs, and the application of technological advances has enabled a transformation. This has resulted in a shift in its model to become not only a distributor of other people’s content, but a creator and distributor of its own material. And, by using its extensive knowledge of its customers’ preferences, it is now also able to create content that perfectly matches the demands of the audience. So, although customers still turn to Netflix to be entertained, the way in which it engages with its customers and delivers its service has changed – transforming the company and at the same time increasing revenue and gaining market share.
So how might the experience of Netflix be applicable to a dental practice on the UK high street?
The answer lies in how the application of software technology can be used to re-assess how a dental practice operates, and the ways in which this impacts on the delivery of services to patients in a way that differentiates it from its competitors.
In travelling the journey from good to great, practice owners must learn from their own experiences, those of others and be willing to accept the support and advice of consultants, who are experienced in applying change management strategies within dental businesses.
The ability to extract data and analyse Key Performance Indicators (KPIs) on a monthly basis now gives dentists a unique insight into their own businesses. Over a period of 12-months, the Good to Great programme tracks data, enabling dentists to gain complete visibility of how performance is improving and providing the catalyst for modifying behaviour where necessary.
Using a KPI dashboard has long been a favourite way for business owners to gain a quick snapshot of all the key variables that determine the success of their business. Now this information is also available for dental practices via EXACT practice management system in a dashboard format known as Mypractice Cloud.
This feature helps busy practice owners keep track of progress of multiple KPIs and performance areas at a glance, identifying those areas in which underperformance is occurring or could be a problem in the future; enabling action to be taken and future decision making to be informed.
“This is an absolutely amazing feature, giving you a quick once-over of all the major issues you want to look at such as hourly rate, predicted takings for the week, FTAs, patient distribution, chair time utilisation and issues with NHS courses (courses at risk of not being paid because close to two month cut off). This is an absolute must.”
“Before we introduced Mypractice Cloud, the practice’s FTA rate was around 10%. By analysing the reports I was able to identify that some of our associates had higher FTA rates than others. Once I was aware of this fact, I was able to take action in those surgeries and the rate has now reduced to approximately 7.4% across the practice. This in turn has obviously had a significant impact on our revenues.
The software reports enable me to see trends in terms of patient numbers and treatment delivered. This information has been a vital part of our future planning and on the back of the evidence we have built two further surgeries, both of which are seeing increasing numbers of patients each month. This data that tells me that we’re on the right track!”
Change is taking place in every area of our lives – changes to the dental landscape, improvements to communication and advances in technology are now directly impacting on the profession, and this type of rapid change can make people feel uneasy. The important thing is for dental business owners to rise to the challenge of disruptive change, rather than be disrupted by it. They can do this by embracing change and grasping how this can empower them to transform their businesses for the better.
The Good to Great is a journey in which hundreds of UK practices are now participating, motivated by others to appreciate how their own practice performance can be improved. With the help and support of consultants and using the modules and features built into Software of Excellence’s products and services, the change from running a good practice to having a great business is within the grasp of every dental practice.
If you want to know more about how you can take the challenge, or want to follow the progress of other practices already on their journey to greatness, visit the Good to Great Challenge website at www.g2gchallenge.com