Monday, December 24, 2018

MAKE 2019 THE BEST YEAR YET FOR YOUR PRACTICE

TWO RESOURCES FOR BETTER MANAGEMENT

Perhaps you've attended a practice management seminar this year in which the speaker challenged you and your team to set a stretch goal for growth in production for 2019. Good idea—go for it. Keep in mind, however, that growth in production alone will not result in increased profit. Growth in profit requires sound management, well-organized business systems, and constant monitoring. Please consider the two resources described below to help move your practice from poor/fair to excellent on the practice management scale, thereby assuring increased profit.

First, subscribe to the best practice management newsletter on the market, The McGill Advisory. Month after month, this publication from the McGill & Hill Group includes ways to manage all aspects of your practice and control personal finances wisely, as well as other resources to help you meet your goals. The information in The McGill Advisory includes practice management advice, dealing with personnel issues, money-saving ideas, marketing methods, adviser selection, and so on, to help you streamline your office management systems. Common-sense recommendations also enrich your private life, with such topics as financial and tax planning, family matters, practice transitions, and retirement planning. A one-year subscription is $297. This could be the best money you'll spend in 2019 to help you get a handle on managing both your practice and personal financial situations.

The second suggestion is free from Practicon. Why free? For over 35 years, I have enjoyed working as a resource for dentists in all stages of training and practice. I have written scores of articles, dental textbook chapters, educational pamphlets, and a wealth of letters for use by dental offices. I have developed forms, designed interpersonal exercises to help teamwork come alive in offices and dental schools, and adapted the wisdom of generations of business writers and human resource experts to serve the dental profession. I love and respect the profession of dentistry and its practitioners, and now I have the opportunity to give back as a way of saying "Thank you for the support you've given to me and to all of us at Practicon." You are welcome to use any and all of the material posted on Practicon's website: forms, letters, spreadsheets, detailed explanations of all aspects of managing and monitoring the business side of your practice, etc. So visit Practicon's Free Resources for your Practice site and choose from six topics to find the information you need to manage your practice to its maximum potential.

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