Should I Share Practice Numbers with My Whole Team?
Dental Drills Bits
English - June 14, 2023 08:00 - 21 minutes - 19.9 MB - ★★★★★ - 37 ratingsManagement Business Education dds dentistry owner bit bits classic dental dentist drill management Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Sponsors:
Do you need a new website or marketing agency, check out what Docsites can do for you: https://www.docsites.com/landing-pages/ddb/
In this episode, we explore the question, "should I share practice numbers with my whole team?"
We say yes!
From the perspective of embracing transparency and utilizing numbers to establish concrete goals for employees in the dental office, we think sharing your numbers is a valuable asset. We address the common fear among doctors that sharing production numbers may lead to associates demanding higher compensation, and debunk this notion by highlighting the industry standard of 25% of collections going to employees(that's the largest expense in any dental parctice.) We emphasize the benefits of open communication, suggesting that employees can have fun reporting their key performance indicators (KPIs) for their respective departments during meetings. Ultimately, we conclude that since the team already discusses production numbers, there is no need to hide them, as they can serve as a valuable tool for fostering collaboration and driving success in the dental office.
Listen to our conversation on practice numbers, associates, and how to bring your team together this week!