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Dental Practice as a Business. Negotiable Value. Operational Value. Is Worth Increasing?. Is It Making Money?. Dental Practice as a Business. Competition. Business Functions. Marketing. Cost. Capital. Management. Leadership. Value of Service Market. Employees. Access. Economy.
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Dental Practice as a Business Negotiable Value Operational Value Is Worth Increasing? Is It Making Money?
Dental Practice as a Business Competition Business Functions Marketing Cost Capital Management Leadership Value of Service Market Employees Access Economy Technology Politics
You don’t get what you want, you get what youmeasure.
onPARC thinks you should measure these regions of a dental practice for business success: Patients Business Performance Staff Dentist Compliance
Who are onPARC’s People? Principals Dr. Marc Cooper, DDS, MSD Dr. William Hayden, DDS, MPH Dr. Daniel Shugars, DDS, Ph.D., MPH Mr. Chris Creamer Advisors Dr. Mike Farley Dr. John Lohse, DDS Dr. Mark Silberg, DDS Dr. Randy Nolf, DDS Technical Advisors Dr. Daryl Rasmussen, Ph.D. Dr. Pam Smith,Ph.D.
onPARC is a privately held company thatprovides online surveys and assessments that automate dental practice management and credentialing. onPARC’s surveys assess, report and deliver actionable recommendations on the core business elements of a dental practice.
What is onPARC’s Business Model? • onPARC is an ASP - Application Service Provider. • onPARC designs and delivers surveys that assess and report on the regions required for business performance of a dental practice, its personnel and its patients. • onPARC provides the training and direct support for their customers to implement these surveys successfully.
Dentist Patients Staff Business Marketing - + E F - + E F Driving the Business of Practice Chart Review Risk Assess- ment Third Party PPO Surveys Are the Gauges and Signs for the Business of Dental Practice
onPARC’s Core Package onPARC instruments assess the following areas of dental practice: • The Patients / Patient Satisfaction or Parent-Patients Satisfaction Surveys • The Dentist / Dentist Satisfaction Assessment • The Employees / Staff Satisfaction Survey • Business Management / Business Performance Assessment
What other surveys does onPARC provide? Branched Surveys Performance Reviews Staff Satisfaction Dentist Satisfaction Chart Review Credentialing Business Performance Regulatory Compliance
Who are onPARC’s customers? • Private practice dentists. • PPOs, IPAs, DPMs and DHMOs • Companies or organizations whose customers are dentists & these associated practices are directly or indirectly tied to their success. • Companies and/or practices that realize, enabling dentists to be successful at their business is an intelligent strategic objective.
What are onPARC’s outcomes? • Provides an online and automated practice management utility that is economical and reliable. • Using these tools will improve a dental practice’s productivity, satisfaction and margin.
How do onPARC surveys produce these outcomes? • Reveal to dentists, executives and consultants, specifically where the problems exist within a dental practice’s core business functions. • Define necessary conditions for results. • Offer specific recommendations to the dentist - about how to correct or adjust poorly performing areas - that are identified in the surveys. • Allow dentists to compare results over time - quality improvement. • Remind dentists on scheduling and implementing future surveys.
What is onPARC’s ‘value proposition’ for dentists? • Saves losing patients. Enhances attracting new ones. • Informs dentists where and what to work on to improve business performance and practice revenues. • Allows for successful credentialing. • Improves staff satisfaction, retention and performance. • Improves dentist’s satisfaction and well being. • Offers a reliable, economical and reproducible practice management system.
How do the surveys work? The survey process:
Dentists directed to a Website Dentists Clearinghouses, 3rd Parties & Suppliers Sales or Rep Support Call Word of Mouth Website 1 E-mails Articles and Presentations Marketing or Conferences
onPARC’s Website Or hyperlink to customer’s Website
1-800-555-9723 ABC Insurance CompanyDentistry You Can Count On Patient | Staff | Business | Dentist Client login Online Practice Management Survey Tools Assess your dental practice’s core business functions. Produce “actionable” information which can directlyimprove: • Patient Satisfaction and Referrals • Staff Satisfaction and Performance • Business Performance - Revenues and Collections • Dentist’s Personal and Professional Satisfaction • Referral Satisfaction of Specialists Provide immediate impact. An easy to use and economical solution for practice management. Find out what’s working and not working in your practice and what -you can do about it. Surveys Patient Satisfaction Staff Satisfaction Business Performance Dentist Satisfaction Referral Satisfaction
Example ABC Preferred Provider Organization Empowering Our Dentist’s Success Online practice business performance assessment tools provided to our members: • Assess your dental practice’s core business functions. • Produce “actionable” information which can directly improve staff performance, management, marketing and financial performance. • Provide immediate impact. • Easy to use and an economical solution. • Please go to ABC’s Practice Performance Tools Overview. Sample Backroom Provider
Content of page describes the step-by-step process: Sales or Rep Support Call Website 1 E-mails Marketing or Conferences Welcome/Orientation Page 2
Sales or Rep Support Call Website 1 E-mails Marketing or Conferences Welcome/Orientation 2 Registration 3 Credit Card Transaction Credit Card Processed Password Issued
Sales or Rep Support Call Website 1 E-mails Marketing or Conferences Welcome/Orientation 2 Survey - Completed & Submitted 4 Registration 3 Credit Card Transaction Credit Card Processed Password Issued
Sales or Rep Support Call Website 1 Automated or Facilitated E-mails Marketing or Conferences Report Delivered 5 Welcome/Orientation 2 Data Analyzed Reports Generated Survey - Completed & Submitted 4 Registration 3 Credit Card Transaction Credit Card Processed Password Issued
Report of Findings Four Interconnected Elements • Data Reporting • Data Analysis • Characteristics of Condition • Recommendations
Report of Findings • Reports delivered to meet the customer’s requirements. • Reports can be configured in numbers of forms. Graphs, text and numbers.
Patient Satisfaction Survey The purpose of this survey is to inform dentist-owners of the condition of ‘patient satisfaction' in their practices. The survey discloses and measures those areas that are essential for patient satisfaction: - Relationship to Dentist and Staff - Quality of Care - Perceived Value - Financial Management
Patient Satisfaction Survey Here is how you scored by category on a 100% scale(10%=Completely Disagree and 100% = Completely Agree):
FINANCES: 7) Explanation of financial arrangements for treatment. 18) Speed in processing my dental insurance claims. 19) Attention paid to billing concerns.
Staff Satisfaction Survey Comparison Staff vs. Doctor - Overall Categories
Staff Satisfaction Survey Comparison (Front & Back) and Doctor
Staff Satisfaction “Snapshot” Overall Score: Each Category - “Struggling” Practice
onPARC’s “Black Box” Participation leads to ownership, responsibility and team spirit. If you are not including the staff in creating the future, they won't be committed to making it happen. Recommendation: Have staff meetings specifically to talk about possible ways to improve your care and your service to patients. Choose one or two items that can be implemented. Generate a plan and take action. We routinely meet as a staff to plan innovative ways to grow the practice.
Technology, science and materials are moving at rapid speed. If you are changing with the times, you are constantly reconfiguring what you do and how you do it. Your market is interacting with other systems that are changing with the times. They'll expect these changes from you. If you aren't ahead of these changes, then you’re behind. Harder to adapt to these changes later on, since the learning curve is steeper then. If you haven't reconfigured your strategy, odds are increasing you will lose market share and the asset value of your practice will decrease. Comparing today’s practice to 2-3 years ago, we have significantly changed our strategic position in the marketplace. Score: 40 Most people don't like "change," but the job of leadership to create change. Can't create change for change-sake. A leader creates change in order to better fulfill the vision and achieve the mission. Recommendation: Generate an authentic vision and compelling mission for the practice. A vision that you believe in and your staff is willing to commit to achieving. Then look at what changes you need to make to fulfill the vision and accomplish the mission. Then work on these changes.
What one thing about patient service would you most like to see improved? “Commitment to seeing patients on time.” “We (doctors and staff) tend to forget to continue to treat patients the way we do when we signed them up.” “I feel we do an outstanding job, but we can always improve in communication.” “Permanent hours they can count on.” “Assistants talking to parents at each visit.” “Staying within treatment time.” “Paying attention to every patient the entire time they are in the office - speaking with the patients, both on a personal level and about their treatment, not amongst ourselves (staff & doctors) or about other patients.” “Pt. seems to have to wait in chair for Dr. for long periods of times.” “See a little more improvement in patient not having to wait to long to see a doctor.” “Better structure around late appts (re-appointing) & pts. with broken items (reschedule).” “Some way to keep the doctors motivated to staying on time.” “In Their Own Words” - Open-ended Answers
In business and in life, you get what you measure.