Gems Publishing - February 2020

Gems Publishing - February 2020

By Dr. Tom “The Gems Guy” Orent

You’ve heard the old adage, “If you don’t have a plan, you’re planning to fail.” And then there’s “hindsight is 2020.” In this article, I’m going to reveal the simplest way to plan for your success in 2020.

firing, motivating, and above all else, holding team members accountable for performing their day-to-day jobs. Without a top-notch team upon whom you can depend to help you keep your practice moving in the right direction, the No. 1 and No. 2 issues can be overwhelming. Running a dental practice depends in large part on Maslow’s hierarchy. Staff issues aren’t your biggest problems until they are! But when your Dental Assistant gives her notice the same day as your most knowledgeable business staff member … not coincidentally the same day your Hygienist asks you for a raise … staff issues trump everything else. "What if I told you the only way to ensure success in 2020 is to invest at least 72 hours in a 'Think Tank' crafting a 37-point multivector business plan. Seriously?"

only recently landed on Planet Gems). I’m allergic to complicated strategies and shun trying to focus on more than one or two things at once. So, I’m going to reveal three SIMPLE KEYS to ensure revenue growth in the coming year and beyond. These keys are aimed at battling what you told me are the three biggest issues you’re currently facing in practice. If I were to suggest that you totally pull out of managed care network plans, for some, that may be so far from reality you’d shut down altogether and take no action at all. Instead, I’m going to share what should be a very realistic goal for the next 12 months. Reduce your dependence on managed care by dumping the worst 20% of the plans currently holding you hostage. 1. REDUCE YOUR DEPENDENCE ON PPOS BY 20%. Let me clarify “20%.” That does not mean if you have 10 plans, you should drop two of them in the next 12 months. Not all plans are created equal. My suggestion is you walk away from enough plans to reduce the percentage of patients you treat for ridiculously low fees by 20%. For example, if you have 1,500 active patients and 1,000 of them

DENTISTS REPORT FACING TRIPLE THREAT

Last week, I asked over 35,000 Dentists to answer a one-question survey: “What is the biggest issue/problem you face in your practice today?” I’m sure you can guess which issues were at the top of the list (by a landslide): managed care, network insurance, PPOs, time wasted, money down the drain, unreasonable write offs, and bullying. The No. 1 issue we face in practice today is mis-managed care (a term I coined) dental insurance. No. 2? New patient flow is a distant second place behind managed care insurance. No surprise there, either. In fact, it’s because of concerns about new patient flow (and thus busyness) that many Dentists make poor decisions about joining network plans. It’s a vicious cycle. “Maybe I’ll just add the best one or two PPOs.” It’s like hoping you contract the least deadly form of cancer in a misguided effort to fight the common cold. Bad idea. The “cure” could kill your practice.

A 37-POINT MULTIVECTOR PLAN FOR MAXIMUM SUCCESS IN 2020

What if I told you the only way to ensure success in 2020 is to invest at least 72 hours in a “Think Tank” crafting a 37-point multivector business plan. Seriously? You know me way better than that (even if you

Finally, coming in third … our colleagues reported problems with staff/team: hiring,

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are in-network with PPOs for whom you are a provider, then plan on reducing by 200 patients in the coming year. That might be one larger plan or three smaller plans. The 20% goal represents the number of patients by which you’ll reduce your obligation to accept cut-rate fees. How do you decide which plans to cut first? Cut the plans that require you to take the deepest discounts off of your fees. Let’s say there’s one plan that represents 20% of your managed care patients, but that plan only requires you to reduce your fees by 10%, whereas three other plans making up another 20% of your managed care patients require you to sacrifice an average of 28% of your fees … that’s where you begin. "A very realistic goal for the next 12 months: reduce your dependence on managed care by dumping the worst 20% of the plans currently holding you hostage." Be smart. Don’t dump any plans until or unless you’ve first replaced those patients with additional new patient flow. Read my “Delta Resignation Strategy” report and letter which should be used as you exit any plans (not just Delta) … in order to retain the highest possible number of patients on the plans you’re leaving. Be prepared to lose them all (by adding more new patients), but do your best to retain the highest possible number. Ask your Personal Gems Concierge to help you find this resource, or go to InsidersCircle. com SITE MAP STRATEGIC DOCUMENTS DELTA resignation letter to patients v3.

35–40 new patients per month to 50 and up. The reason for the range is that some offices may be doing only bread- and-butter dentistry and low fees while another practice may be full fee-for- service and routinely performing full- mouth reconstruction. Regardless, if you want to boost your revenues in 2020 and reduce your dependence on managed care, then increasing your new patient flow by 20% is a good goal for your next 12 months. Of course, you’ll want to focus on strategies that target new patients who’ll pay fee-for-service. Ask your Personal Gems Concierge to assist you with the following resources: a. Dr. Chris Phelps’ targeted marketing to active seniors using the Wine and Cheese events (see the article in the “Recently Unearthed on Planet Gems” column in this issue titled “Laser- Focused Target Marketing Fee-for- Service New Patients”) b. Reverse engineering your patient list to identify local businesses that don’t offer dental insurance then reaching out to those businesses and offering all of their employees their first year of your Dental Benefits Savings Plan for FREE. If you don’t yet have an in-office Dental Health Benefits Savings Plan, ask your Gems Concierge to have our graphics folks help you create one today. Although the need to hire new team members is an issue from time to time, more often than not, Dentists reported their biggest concern with their teams was accountability: getting the team all rowing in the same direction and continuing to row hard without having to be asked! If your team members don’t see your vision and aren’t focused on helping you get there … it’s not their fault. They need you to be the leader who defines the vision, maps a plan to get there, and BECOME THE LEADER YOUR TEAM NEEDS YOU TO BE.

then leads them along the way. That includes a system for accountability. If you’re not yet using the Gems Action List at every team meeting, ask your Personal Gems Concierge to give you access to your Google shared Action List. Once you begin using this tool, you’ll never look back. It’s one of the simplest, most powerful tools on the Planet! Finally, watch (or if you’ve seen it in the past, then revisit) “An 18-Step Plan for Leadership Excellence.” In this video, I reveal exactly how to develop your vision of your perfect practice, how to share that vision with your team, and how to lead your team along that journey. For this resource, ask your Concierge or go to InsidersCircle.com SITE MAP GOLDMINE UNDERGROUND TEAM TRAINING TOOLKIT 029 AN 18 STEP SYSTEM FOR DEVELOPING LEADERSHIP EXCELLENCE. order to make 2020 your best year ever. There are three pieces to the equation: increase fee-for-service new patient flow, decrease the number of patients for whom you’re required to accept reduced fees, and define and share your vision with your team. Become the leader they need in order to help you achieve the practice you desire. This is a simple plan, one which I’m confident you can accomplish in the next 12 months in

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2. INCREASE NEW PATIENT FLOW BY 20%.

I’m going to use a solo practitioner as an example. However, if you have three Doctors, simply multiply these numbers by three. A healthy new patient flow for a typical solo Doctor ranges from

Remember … you’re only one Gem away!

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Dr. Kevin Norige, Platinum Member

I’ve been a member of the Gems Family for the past several years, but I didn’t have a chance to really get to know Dr. Tom Orent until the Fall Members’ Retreat. It was there that I was able to interact with Dr. Orent on a personal level, and I was amazed at how considerate and personable he is. I’ve always been impressed with the accessibility and dedication Dr. Orent and his team have shown to my team. I have learned a tremendous amount from my work with Gems, and every new Gem we deploy makes me excited for the next. But it was our interaction this fall that really put into perspective how meaningful and powerful this work can be. It makes a real difference when you create a personal connection with someone — my practice’s latest venture with the support of the Gems Family is proof. In October 2019, Dr. Orent suggested we celebrate veterans throughout the entire month of November rather than just honoring these brave men and women on Veterans Day. As a man in a military family, this struck me. My father and father-in- law served in World War II in the Navy and the Merchant Marines, respectively. I’m also the proud brother of an Air Force veteran, and these men inspire me as I serve my community in many different

ways, including through my church and as a longtime Boy Scout leader.

and tied it up with a gorgeous purple bow. On the tag, we had printed, “Thanks for Your Service. –Team South Windsor Smiles.” Andy had posters made up for the office to alert patients and visitors of this special promotion. In each step of the process, we grew more excited about the project. With everything set up, all we had to do was wait in eager anticipation for November to roll around. But on Halloween, I couldn’t wait any longer. He was the last patient of the day. In fact, this was his first visit to our practice. But when I learned this man was a pilot during the Korean conflict, I knew we couldn’t pass up an opportunity to thank him for all he did for this country even though it was “technically” still October. I said, “You know, we’re starting this tribute to our veterans tomorrow, but I’m going to give this to you today.” With that, I handed

In the past, my practice, South Windsor Smiles, donated toothbrushes and toiletries to various veteran programs, but honoring the brave heroes who have defended our country for generations throughout the month was the least we could do. I passed the idea along to my son, Andy, who manages the marketing, creative, and administrative work for South Windsor Smiles. What happened next is all because of Andy’s creative thinking. Andy connected with a local chocolatier to create dozens of custom-made boxes of chocolate. We wrapped each box in gold

"I handed him the golden box … I may as well have handed him a gold brick. The man was so appreciative of our support and gesture, and I was proud to recognize him in such a simple, unassuming way."

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WED 3/4/20 to SAT 3/7/20

REGISTER FOR YOUR GEMS FAMILY RETREAT TODAY!

MARCH 4-7, 2020

Don’t Miss Special Pre-Event DayWithMr. VanceMorris! “Systematic Magic LIVE! FromWalt Disney World”

A Disney Insider’s “Behind the Curtain” System for Service, Development, Growth and Profits. Unvarnished Behind the Scenes Service and Profit Truths (not found in a Disney Institute seminar) Who Should Attend this SPECIAL PRE-EVENT DAY? This “Deep Dive” peel back the curtain on EXACTLY HOW Disney consistently delivers legendary service is mission critical for Dentists, Office Managers, or those with the authority to affect change in your practice

Create an environment where the outside world melts away, inhibitions to price are lost and patients become raving fans. Inspire, encourage and impel your team members to ACTIVELY deliver consistent, superior and best-in-class service Create a more efficient (profitable) process for delivering best-in-class service to your patients day in and day out Become recognized as THE expert “Go-To” dentist in your area What sets you apart from all the rest of your local competition Create service standards that consistently deliver profitability far exceeding today’s dental profesion norms.

Mr. Vance Morris GKIC Reigning Marketer of the Year

What’s Included in this SPECIAL PRE-EVENT DAY: Exclusive ½ Day Meeting building your own Disney Style Service System. At the end of the day you will have a blueprint to implement in your practice the following Monday. Value ($3497) Resources, Guides, Blueprints andWorkbooks (Value $297) Exclusive VIP reception with current Disney Leaders . Ever want to know how “the rubber hits the road”? You will have unprecedented access to these Disney leaders to ask any question you want to. We will also be serving a feast of hors d’ oeuvres menu that will certainly be your dinner. (Priceless)

Dr. James Metz is a 1973 graduate of The Ohio State University College of Dentistry. He maintains a restorative dental practice with an emphasis on dental sleep medicine and reconstructive dentistry. Dr Metz’s current research with Oral Appliance Therapy for Obstructive Sleep Apnea, and Headache have led to the completion of a 136 consecutive patient study was just published in Frontiers in Neurology. The outcomes, using his techniques, have compared favorably to CPAP therapy for mild, moderate, and even severe OSA patients.

Dr. James Metz KEYNOTE SPEAKER

Dr. Metz was a member of the American Dental Association’s Scientific Investigation Committee Workgroup, which defined the role of the Oral Appliance for the control of Obstructive Sleep Apnea. Metz during the past 7 years has been a member of the Scientific Investigation Committee of the American Academy of Restorative Dentistry, which publishes their literature review yearly in the Journal of Prosthetic Dentistry. He has served on the American Academy of Dental Sleep Medicine board of directors, course development committee, public relations committee, chair for both the Introductory and Advanced Course of Dental Sleep Medicine, and vice-chair of the AADSM Annual Meeting in 2014. He is a board member of the Ohio Sleep Society. Metz is the founder and current chair for the Dental Interest Group of the American Thoracic Society. As a member of the American Academy of Restorative Dentistry and International Academy of Gnathology, he has pursued excellence in the field of Restorative Dentistry during his entire career. Dr. Metz is also a member of the American College of Dentists, American Dental Association, and served as president of the Muskingum Valley Dental Association. COURSE OBJECTIVES Breathing is basic. Our primitive brain controls the process, and we take it for granted. We as dentists can influence the available oxygen dramatically. An understanding of the physiology of breathing will allow for a more precise treatment plan of our restorative care. Considering that breathing well may increase your patient’s quality of life and possibly even their lifespan as well as the durability of the finished restorative case, this course will cover the process from intake to completed treatment. The overall objective is to present a logical and efficient way to incorporate Mandibular Advancement Therapy into dental practice.

5. Eval, analysis, & comprehension of polysomnogram reports & the necessity of med- ical eval & importance of a multidisciplinary team approach to treating snoring & OSA 6. Appliances 7. Building a delivery team in the office.

At the completion of this talk, participants will be knowledgeable in: 1. Why we sleep and how sleep impacts your day-to-day dentistry 2. Physiology of sleep (focus is the heart, brain, and basic pulmonology) 3. The terminology of Sleep Medicine 4. The pathophysiology, demographics, and sequelae of OSA

8. The appointment process – how to handle the flow. 9. Patient motivation – it is more than an appliance 10. Billing and Insurance

“SATURDAY AFTERNOON PRIVATE BEHIND-THE-SCENES Disney Tour Limited to the 1st 60 People to Register” Private Keys to the Kingdom Tour (not available to the general public)

An in-depth, 3 to 4 hour behind scenes look at the most iconic theme park at Walt Disney World Resort. You will experience exactly how Disney consistently creates the magic on a daily basis through this tour of the Magic Kingdom. You will go “underground” into the “utilidor” and see how the magic is created from the perspective of the cast members. The tour guides will also focus on the “business” of the park.

VIP Attractions experiences (at least one and maybe two behind the scenes look at the rides, depending on time) then of course; you’ll have a chance to ride the ride! The tour will focus on the FOUR key strategies that Vance introduced you to: Safety, Courtesy, Show and Efficiency. This will solidify your un- derstanding and ability to implement your own key strategies in your dental practice. Tours are small groups with plenty of time and opportunity for questions.

Disney has limited this tour to a hard count of 60. This is the maximum they can do in one day. So if you want to see the behind the scenes magic, SIGN UP TODAY! These spots never last! Please indicate on your form how many spots you need. We will be counting these at the back table. Once we hit 60, it will be sold out.

“The Secret to Using KPIs to Achieve Killer Practice Income!”

During this presentation you will discover:

The #1 activity you must do every day to avoid unpleasant and disastrous financial surprises Discover the single best tool for “Gems-centric” practices to always identify neglecated areas, track progress, and master their numbers How using your dashboard to implement and track a few simple changes can create massive and sustainable gains in profit The only time it’s remotely okay to ignore the numbers (“non-quantifiable criticals”)

The KPIs that matter most and how to fully leverage them to create more profit, happier team members, and healthier patients The critical leading and lagging indicators in your practice (and what to do about them) The 3 ways to get your team super-motivated and hyper-focused on your numbers How unhealthy business >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12

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