Focusing on key business areas and making a few adjustments will result in a more profitable practice....
To date, the biggest obstacle during the COVID-19 pandemic has been maintaining a full and effective team through hiring and training protocols. Previously, the obstacles were government shutdowns, economic uncertainty, fear, illness, and an emotionally and psychologically rattled workforce.
All these obstacles have frozen practice owners and dentists with uncertainty. Countless new office buildouts have been suspended, DSO investment deals have gone cold and offices have halted growth plans, with many dentists looking for exit strategies.
Though we are still struggling to maintain a standard of outstanding employee training, we are seeing a resurgence of patients advocating for themselves. While some patients are scared and delaying elective care, others are rushing to get treatment that will improve their overall health. This seems to be the national trend for multi-practice owners.
Owners who are fighting to keep their teams working are experiencing a busy push. Many office owners who were able to retain team members are seeing as much as 80% to 110% of pre-COVID collections. I have talked to many doctors who are experiencing huge boosts in Invisalign starts. In July alone, our group started more cases (74) than any month prior.