Managing time
Roger Levin, D.D.S., M.B.A.
Most people do not realize that time management is a mathematical science related to the goals and values of an individual, allowing each of us to accomplish significantly more in our lives. While human intelligence, charisma and pure talent play a large part in achieving success, there is no question that the better individuals manage time, the more likely they are to achieve established goals.
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TIME MANAGEMENT
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In the last 18 years, I have compiled numerous case studies that compare two seemingly similar practices. However, doctors in one practice are shown to actually produce double the services of the other and have even more than twice the practice profitability. A careful examination of these case studies reveals a number of differences that inevitably all relate back to the use of time. The following points will be helpful in establishing excellent time management in your practice.
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DENTISTS DO NOT SELL TIME
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Although the word "selling" is not popular in our profession, it could be defined simply as patient education plus patient motivation. Following this definition, we begin to realize that, as dentists, we do not sell products. We sell services, and our obligation is to provide the highest quality of care to every patient and to do the best we can to help each patient achieve optimal oral health.
As dentists, we do not sell products. We sell services, and our obligation is to provide the highest quality of care to every patient and to do the best we can to help each patient achieve optimal oral health.
It is easy, therefore, to understand that dentists are not reimbursed for time. I have never analyzed a practice in which the dentist has a set fee per hour that is charged to patients. Instead, the standard is to have a fee for each service provided. The first step in understanding how time can best be used is to recognize that we have a finite amount of time and that practice production will be directly related to what we do in the time that is available for patient diagnosis and treatment.
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THE SERVICE MIX MAKES A DIFFERENCE
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The service mix can be defined as which services patients are provided, how many times those services are provided and the fee charged for those services. At this point, it is easy to understand that the service mix will have a tremendous impact on practice production.
Our statistics indicate that 81 percent of all dental appointments are single-tooth treatment. That quickly reveals that the level of volume and fees that can be achieved by most practices is limited on the basis of the number of appointments it takes to complete all of the single-tooth procedures. If your practice is providing 81 percent of services as single-tooth treatment, your practice production is probably below the 50th percentile unless you have a tremendously high volume or practice a disproportionately high number of hours each week.
On the other hand, a practice that is providing only 64 percent of its treatment as single-tooth services per appointment often will produce in the 70th percentile or above, depending on the week. Compare this with a practice with a high volume of low-fee services that will have to work many more hours with more physical effort by the dentist and team to have the same practice production as a practice that has a service mix that allows for more higher-fee services per patient over the same number of hours.
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FEE LEVELS AFFECT PRODUCTION
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Although most dental practice fees in a given region are within a reasonably similar range, fees do make a difference. Practices with fees in the top 30 percentiles often will significantly outproduce practices with fees below the 50th percentile. It is critical to understand that it is not simply about how high a fee is charged to each patient. It is really about the relationship between fees and practice volume. Practices with higher fees typically tend to provide much more comprehensive service and less single-tooth treatment for patients. This means that the practice more likely is providing services that are more productive in the hours available for patient care.
Practices with higher fees typically tend to provide much more comprehensive service and less single-tooth treatment for patients.
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SUMMARY
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As you can see from these examples, there are many factors that must be considered in the relationship between time management and practice production. However, it is important to understand that there is a direct correlation among various factors—including how time is used, which services are provided, the volume of services provided and other factors—in establishing a practice with excellent financial results. As always, dentistry is about excellent patient care, but it still is important for the dentist and team to examine the day-to-day use of time and its effect on the business side of the practice.
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Dr. Levin is chief executive officer, Levin Group, 10 New Plant Court, Owings Mills, Md. 21117, e-mail "rlevin{at}levingroup.com". Address reprint requests to Dr. Levin.
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FOOTNOTES
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The views expressed are those of the author and do not necessarily reflect the opinions or official policies of the American Dental Association.
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TIME MANAGEMENT
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