Q4 of 2023 granted our consultants the pleasure of covering a significant portion of our great country of Canada with travels.  Regardless if we were in Toronto, Saskatoon, Vancouver, Kelowna, Calgary or Montreal, the messages from clients were fascinatingly similar:

·       “I wish I studied business in school to have a better understanding of how to run a business verses only being a clinician and <<fill in the blank on specific procedure>>.

·       “Dentistry? That’s the easy part.”  

AND this week someone shared:

          “After15 years of practicing dentistry, I now accept I need more training on running a business, as this profession is now running me.”

More and more Doctors are coming to terms with the reality that the business of dentistry has changed, and the demands of patients and the team are constantly increasing.  

The ripples created from the staffing shortages, the competitive market, and the pending recession have had an impact on our profession.  

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‍In short, doing business is harder than ever.

As a business owner, you have four choices:

1.    Do nothing and hope you survive until change passes you by and normal returns.

2.    Fear change and design mechanisms you hope will stop or prevent it.

3.    Waste energy trying to predict the future and plan the one big move to beat it.

4.    OR accept your new reality and develop a flexible strategy that allows you to define success, create your own future, and reshape your business.

We have witnessed one of our department stores, Sears Canada, closing their doors in 2018 after opening in 1953.  At the same time, we have all watched, and helped I’m sure, their competitor Walmart increase sales and dominate the marketplace with their “Low Price Guarantee.”  

I am not suggesting you need to run your business to parallel Walmart’s discount pricing business model, however:

·       Are you challenging yourself to ensure your image and value proposition is aligned with your market and ideal patient?  

·       Are you thinking outside your comfort zone, considering some direct-to-consumer marketing, and evaluating ways to differentiate you and your team from competition?

·       Are you working hard to earn the right to ask your existing patients for a referral?  

As much as your practice demands change, so have the Practice Management Consulting Services we provide. We needed to evolve and adapt to your needs to ensure we are aligned with the direction you want to take your practice. We got you!‍

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Reach out today for a complimentary consultation to discuss your business in more detail and how we can help with the ever-changing demands you face everyday.  

ALTERNATIVELY, register for Palm Springs Health and Wellness event inFebruary 2024 and we can chat poolside about getting started!

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Written by Lori William - Strategix Partner