Archive for September, 2009
Maximize Weekly Staff Meetings
Posted by: | CommentsOne of the goals of the Schuster Management Program is to teach your team to better define your practice systems, thereby enabling you to work in unison toward a common goal of success. Staff meetings not only allow opportunities for enhancing communication within your practice but they give your employees an environment of predictability and stability. A common comment we hear from our graduates is that after they have completed the Management Program, they are not certain what they should be working on during staff meeting times. The purpose of this article is to give you some suggestions and topics to ensure the success of your staff meetings for years to come!
1. Case Studies - Many of our clients have told us how much they have benefited by reviewing a completed case as a team. Questions such as, “What could we have done better relative to the patient’s treatment”, and “Clinically, what could we have done to improve the outcome?” are great customer service questions.
2. Recare Review - Once a month, the hygienist should report on the patients who were due for hygiene this month, who is accounted for and who is now missing in action. What is their strategy for contacting those patients and more importantly, why did they not respond to the retention efforts?
3. Structured Messages - This should be an ongoing project. You created a number of messages during your Management Program but your practice has an enormous opportunity to refine and create more as a team. Many offices only use structured messages for phone conversations but you can use these for virtually any face-to-face interaction. The format can be used to help with your pre-clinical interviews, chair-side education, and financial arrangement conversations.
4. Communication – Your ability to communicate your thoughts, feelings, ideas, values and beliefs are determined by how well your practice runs. We often limit ourselves by only thinking about how we communicate person to person. However, you might consider reviewing all of your printed materials to check for the consistency of the appearance and the message you are sending. Your web site, yellow page ad, signage, phone messages, collection calls, etc. should be evaluated on a consistent interval.
5. Career Development - The best practices hire and retain the best people as employees and are responding quickly to changing market conditions. The doctors are not satisfied with the status quo. They continually upgrade facilities, processes, and the skill of their employees. Many of my doctors lament about not having enough time to get trained on power point or digital photography. Why not send a team member?? Don’t forget to invest in talent and keep them intellectually challenged. Many of my best clients have mismanaged very talented team members by not investing in their development. Take time to plan out your employee’s career path so they continue to be renewed and recommitted to your practice.
The opportunities for creating the practice of your dreams are unprecedented. But so are the difficulties, for competition is more intense than ever. The critical success factor for your practice is the quality of your team. Authentic team members who are mature and committed will make your vision become a reality. However without meaningful staff meetings in place, your opportunities for success will be limited.
Schuster – All about the money?
Posted by: | CommentsYou know, it’s hard not to be offended when I read blogs online about The Schuster Center that speak from negative hearsay vs. direct experience. Recently I’ve come across some naysayers that proclaim Dr. Schuster is all about the money. This is somewhat humorous to me, as I’ve spent the last 2+ years here listening to Dr. Schuster’s philosophies and teachings…and what he shares is so much MORE than MONEY! In fact, I imagine very few learning institutions even touch upon the concepts that are encompassed underneath this roof. But far be it for me, Schuster employee, to enlighten the uninformed. Here is a short video from one of our graduates telling it like it is. Maybe this can help separate truth from fiction for those who just don’t understand. Please listen to Dr. Fred Arnold here…
Hiring Exceptional Dental Staff
Posted by: | CommentsThe major ingredient to successful leadership is effective followers. Effective “followership” begins with the leader’s decision to hire an individual for a specific position. Your ability to choose effective people will not only determine your ultimate success as a leader but will greatly influence the amount of energy you expend to achieve that success.
Peter Drucker says that, “to make a decision is the specific task of an executive; effective executives, therefore, make effective decisions.” People decisions are not only the most important and difficult decisions a leader will make, they are time consuming and complex.
People, not plans or products, are the wellspring of organizational success. Individuals are the basic building blocks of any group or organizational effort. Your success will ultimately be determined by the quality of people you recruit.
The objective of any placement decision is to obtain the best possible fit between the person and the position. The better the match, the greater the potential to succeed. To achieve the greatest match, the decision maker must know the demands of the task as well as the gifts, skills and temperament of the people being considered for the position.
The selection process may appear straightforward, yet we tend to blow it for a few reasons:
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FIRST, the selection process involves many more unknowns than knowns. Jobs are difficult to define, and the people who fill them are infinitely complex and their behavior somewhat inconsistent. People decisions are frought with subjectivity, uncertainty and risk.
- SECOND, the selection process is hard work, the complexity of which prompts many leaders to unfortunately make too QUICK decisions, leaving the results to chance.
- And FINALLY, making good people decisions is a skill. It involves knowledge of human nature and proficient application of certain processes and principles. Not knowing the process and how to apply it causes us to fall back on the old standbys of intuition and gut feeling
Generally, mistakes in people decisions aren’t immediately obvious. But when they do become apparent, we invariably go through a long, drawn out expensive process of analysis and attempted solutions. Instead of taking fast action to solve problems, we often delay, hoping the problems will solve themselves. They seldom do. When the basic fit between the person and the position is flawed, things usually become worse over time, not better. Often, another cause of delay is some feeling of guilt on the part of the person who did the hiring – usually the doctor.
Cost of Mismatches
Poor hiring decisions are the costliest mistakes practices make. The doctor too frequently finds that a newly hired employee performs unsatisfactorily on the job. Both the doctor and the hiree suffer the consequences. A poor hiring decision effects productivity and morale and can have grave economic consequences.
By definition, the selection process means choosing one applicant in preference to others. This decision is based on a set of characteristics which the doctor believes must be present in order for the job to be performed satisfactorily. The question is whether or not an applicant’s suitability for a job can be predicted with any measure of success. The answer is YES!
These statements we know to be true:
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Exceptional people are less accessible and are difficult to find.
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Finding exceptional people is hard work, but worth the effort.
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We are often too quick to settle for acceptable versus exceptional ones.
Steps in the Selection Process:
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Determine critical or essential job requirements
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Screen resumes
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Interview candidates
- Check references
- Evaluate all data
- Make the offer
There is no guarantee that by using these suggested practices you will hire only winners or avoid personnel problems. However, by considering the issues presented here, you will be improving your abilities, as a professional, to hire effective performers.
–If you’ve enjoyed this article, visit our website for more free practice success tools. www.SchusterCenter.com
Fraud? In MY dental practice?!
Posted by: | CommentsSmall businesses are the most vulnerable to occupational fraud and abuse. According to a report by the Association of Certified Fraud Examiners, small organizations suffer higher median losses than large organizations. Based on its survey, which was conducted between January 2006 and February 2008, small business losses averaged $200,000. Check tampering and fraudulent billing were the most common small business fraud schemes.
Considering the potential losses, it behooves small-business owners to make the prevention of fraud a priority in their business. Though no business owner wants to feel it employs unscrupulous people, sometimes temptation or personal financial pressures can push even the hardest working, most trusted employee into perpetrating fraud.
The first step in preventing employee fraud is letting employees know you’re watching for it. Perception of detection is a very powerful deterrent. Create a way to let your team know that you are educated about the cash flow systems in your practice.
The Schuster Center has identified a few methods you can use to minimize your risk. Some methods seem common sense. But when taken into consideration with other preventive measures, they help fortify a business against fraudulent activity.
First and foremost, hire the right employees. Conduct background checks for people handling inventory and money. Check past employment, criminal convictions, references, and education and certifications. Remember to always get the written consent of candidates before doing research since many federal and state laws govern the gathering of such information.
Maintain strong internal controls. Have checks and balances in place. For example, you don’t want a signatory on the bank account balancing the checkbook. If that employee can write checks on the account, they can reconcile the bankbook and would be free to manipulate the check register.
Make sure expenditures are approved. For every expense, the doctor should approve it. The doctor will ensure that the expenses are valid, while your accounts payable officer will run the math.
Monitor cash situations. If you don’t have a petty cash control policy/system, you should consider writing one.
Balance your accounts receivables daily. If you do not know how to do this, get the training.
Conduct surprise audits. Catching an employee off guard could be your best bet in discovering fraud. The key is that an employee generally doesn’t know what’s coming and won’t have the time to change the records to hide the fraud. If you suspect it, hire a professional auditor. Using sampling and analysis techniques, auditors can quickly examine invoices in detail, including invoice numbers, to whom payments were made, when payments were made, and quickly determine those that are suspicious.
We heard of a practice with an employee that actually created a phony dental supply company, submitted invoices to the accounts payable officer (doctor’s spouse) and then sent the payment to a P.O. box! A surprise audit also can uncover duplicate invoice amounts and duplicate invoice numbers, both of which can be red flags for possible wrongdoing.
Create a fraud policy. Simply inform employees during employee orientation, training programs, memorandums, or other communication, that fraud is not tolerated. Be sure to inform employees of the actions you will take if you suspect or determine that fraud has been committed.
Enforce mandatory vacations. Our clients have found that if their employees don’t take time off, they may be afraid to go on vacation because someone may notice that something is not right. Requiring employees to take time off can aid in the prevention of fraud.
–For help with dental practice management, dental case presentation, hygiene as a profit center, business plans for the dental practice, dental continuing education seminars and more, go to www.SchusterCenter.com or call 1-800-288-9393
A Business Model for Wealth
Posted by: | CommentsIf you ever Create Wealth, it will be from your Dental Practice, unless you inherit it.
If you aren’t going to inherit enough Wealth to be able to support yourself for 20-25 years of retirement(which is a minimum of $3M for a dentist), then your practice has to become your source of Wealth Creation.
Herein lies the importance of a BUSINESS MODEL.
Most PRACTICE MODELS are production based models. The thinking is that if you produce enough revenues, eventually you will Create Wealth. This MODEL not only fails to Create Wealth, it destroys lives in the process.
Other PRACTICE MODELS focus on the DOCTOR LIFESTYLE and these models also fail to Create Wealth. This model also fails to Create Wealth and the Freedom that Wealth brings.
Anyone could make money in the 1990’s and then the GAME CHANGED.
There is ONLY ONE BUSINESS MODEL that allows for the Creation of Wealth in ANY ECONOMY. Up, down or sideways…and this is the MODEL that The Schuster Center has been promoting and teaching for over 30 years.
This is a HIGH QUALITY–RELATIONSHIP DRIVEN–HIGH PROFIT PRACTICE MODEL.
We are so sure of the predictability of this MODEL that when you learn and apply this MODEL to your practice, WE GUARANTEE you will DOUBLE YOUR NET PROFIT!
Register for The Science of Creating Wealth™ or one of our other CE events at 1-800-288-9393. Or just call us directly and ask how YOU can DOUBLE YOUR NET PROFIT.
Dr. Michael Schuster
1-800-288-9393
Marketing/Sales in the Dental Practice
Posted by: | CommentsI read an article this past week that said that of the 4,000 Colleges and Universities in the United States, only 40 have SALES Curriculums. This BLOWS MY MIND.
Nothing happens without someone selling something.
Everyone sells.
The Priest Sells.
The Rabbi Sells.
The Minister Sells.
The Teacher Sells.
The High School Football Coach Sells.
Every team member Sells.
Most dentists focus too much energy and effort on logos, external marketing and yet have no training in SALES and NO DOCUMENTED SALES PROCESS or system. It is amazing, simply amazing how much money we spend on DENTAL TECHNICAL TRAINING and yet spend little or no money on SALES TRAINING and creating a DOCUMENTED, PROVEN SALES PROCESS.
I’ve always said that we dentists were set up for failure. By our statistics, data we collect every week (and I know you think you are an exception), the average amount of dentistry done per patient by 95% of the dentists in the United States is less than $1000 per new patient.
Now here’s the tragedy. A young dentist graduates from dental school, $200,000 or more in debt for an education; then adds $500,000 to $750,000 in debt ( or more) to buy or start a dental practice. And, maybe rents or buys a small home. So, here we have a dentist who now is in business who:
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Is operating without any sound MARKETING PLAN which documents the results of marketing spent.
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No SALES TRAINING or SALES PROCESS or SALES PLAN.
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No organizational skills.
THIS BLOWS MY MIND. No wonder the average dentist spends his or her entire life simply chasing the money, or in most instances, chasing the overhead.
So, here we are now, in the midst (not the end) of the most severe recession since the 1930’s and dentists are now throwing money at MARKETING but still are only capable of closing less than $1,000 per patient and most of that is covered by some plan.
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This isn’t MARKETING—it’s MADNESS.
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This isn’t SELLING—-it’s IGNORANCE.
Outside my office is a little poster I have hanging for myself. It seems appropriate now:
“IGNORANCE IS OUR GREATEST THREAT”
And indeed it is.
–Dr. Michael Schuster
Schuster Student and Graduate Unite for a Cause
Posted by: | CommentsSchuster Center student, Dr. Brett Thomsen is a handsome, unassuming dentist from Nebraska. He recently joined forces with Schuster graduate, Dr. Mark Frill in a very worthy cause. The Mission of Mercy helped thousands of needy patients for free over a two-day period in Omaha, Nebraska. We are incredibly proud of our Schusterites! Please view the links below for this wonderful story:
Dental Practice Followership
Posted by: | CommentsDentist – Being a good leader requires good followers!
At first glance, Followership seems to be the antithesis of Leadership. In sharp contrast to leadership, there is a dearth of writing on the art of following. The superhighway is replaced by the dirt track. While some authors make reference to it in their writings on leadership, relatively few have focused on the follower as a key player in successful leadership.
Developing an adequate definition of a “follower” is made difficult because the concept is seen as trivial, obvious and lacking substance. The words “minion”, “subjection”, “underling”, may come to mind when conceptualizing followership. The following definition draws on the thoughts of R. Kelley (not to be confused with the singer), a major contributor to the literature on the role of the follower.
“A follower is one who pursues a course of action in common with a leader to achieve an organizational goal. Effective followers make an active decision to contribute towards the achievement of the goals and demonstrate enthusiasm, intelligence, self-reliance and the ability to work with others in pursuit of the goal. Effective followers recognize the authority of the leader and limitations this imposes on their own actions, consider all issues on their merits, make their own decisions, hold their own values, speak their minds and hold themselves accountable for the consequences for their actions.”
In other words, effective followers, given the necessary information and room to move, can be trusted to take independent action to achieve a specific objective, subject to their receiving ongoing assistance and support to resolve issues beyond their spheres of competence and influence and to their receiving recognition for the work they are doing. It is important to note that while the behavior of the followers may be seen to be simply doing as they are told, their actions are the result of independent thought and decision making and would have been seen the same in the absence of the direction from the leader.
Followers actively evaluate their leaders and in many cases find their performance below par. Often it is the limitations imposed by a leader that stops the follower from performing at their best. From the follower’s viewpoint, effective leaders embrace them as partners and are influenced by their words and actions. Effective followers choose to follow a good leader (regardless of whether their participation in the team is a matter of choice) and accept all the consequences of that decision. In exchange, followers want their leaders to share information, involve them in decision making and create working environments in which the efforts of the followers are recognized, respected and rewarded.
Principles of ideal followership include:
*Demonstrating respect
*Thinking win/win
*Working within the system
*Acting proactively to fulfill or exceed expectations
*Appreciating differences
*Striving for a common goal (one shared with leaders)
*Recognizing authority leaders possess
*Being enthusiastic about organizational goals without complete reliance on the leader
*Recognizing the hierarchy of leadership while becoming a self-motivated mini-leader
Followers must have the confidence to speak out. They understand the necessity of the discomfort they may feel while communicating concisely with the leader, and they realize their role in helping the leader to make better decisions. Having the fortitude to speak candidly with the leader also comprises a leadership trait. Followers, according to this point of view, must regard silence as unacceptable. Becoming an “effective” follower within the leader/follower conceptual universe takes just as much work as becoming an “effective” leader.
–For more information on effective dental practice management and team development, go to www.SchusterCenter.com or simply call 1-800-288-9393.
