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A Minute (Or Two) With Colin Receveur, Episode 8

If there’s one thing that abounds, it’s misinformation. And trying to grow your practice with bad information is not going to get you where you want to go.

– I was talking to a doctor in a Midwest city last week.

– We’re talking about practice and goals and where he wants to get to, and I said, “What do you want to do?”

– He said, “Well, I want to I want to grow my practice.”

– I said, “Okay, how many patients are you seeing a month right now?”

– He said, “Well, I’m seeing about 30 new patients a month.”

– I said, “What’s an average value of a new patient to you?”

– He said, “Oh, we have a really great value. It’s about $2,400. We give great care, we have a great team, and when our patients come to us, we really take good care of them.” – I said, “Man, you’re seeing 30 new patients a month, $2,400 average value, this is great. Where do you want to get to?” and we established that.

– Anyway, jumped forward.

– We did a snapshot of his practice, looked at all of his data, analyzed everything, and then we came back to him with a plan to getting from where he’s at now to where he wants to be.

– What I thought was interesting in the plan was that when we actually looked at what his practice was doing, instead of doing 30 new patients a month like he thought, he was actually doing an average of 14 new patients a month over the last six months.

– He thought he was getting 30. He was actually averaging 14, which meant some months he was down in the single digits.

– His average patient value, what he thought was $2,400, was actually $1,580, almost half of where he was at.

– When I get asked the question, what do you think doctors are missing about growing their practice?

– I think the biggest component, the biggest piece of the puzzle are missing is the data.

– If I’m trying to fly a little Cessna airplane, I can probably get in it and figure out the joysticks, and how to fly, and the flaps, and I can probably fly with no instrumentation and I can probably take off and land it – I’ve never flown a plane in my life – with pretty reasonable chance of surviving and not dying.

– Much like many dentists are able to start up a practice and they do 500, or a million, or a million and a half, or some dentists that are exceptional business folks get to several million dollars without any kind of coaching or planner process.

– If you’re trying to fly a fighter jet and you’re trying to do it without dials and gauges and instrumentation, your dashboard in front of you, you’re going to crash it before you ever take off.

– That’s the difference between the practice that you probably have now and the practice that you want to get to, is what’s missing is where you’re starting.

– If you’re trying to get to Miami, the GPS is a lot different from New York versus Topeka, Kansas.

– If you don’t know where you’re starting, you don’t have the data to understand what you need to correct to go get to that 2 million, or 4 million, or $10 million practice.

– That’s the piece that so many dentists and small businesses are missing. It’s just understanding where they’re starting.

 

 

Colin Receveur

Created by Colin Receveur

“As a dentist, you don’t want marketing or websites or SEO, You want more and better patients in your chair. We know how to dominate your market area to make that happen.”

"Running your practice by yourself can feel overwhelming. With our help, you can increase the quality and quantity of your new patients, which will allow you to get back to enjoying life."
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