A Toolkit To Design Your Best Year Yet
By Dr. Greg Grillo
As we face 2021, we juggle an underlying uncertainty about the future in a changing world. We share that underlying anxiety with our patients who juggle new routines, budgets, and concerns.
Despite an unprecedented shutdown in 2020, almost all clinicians are providing care again, including hygienists, assistants, and admin staff. But reduced volume may continue, and altered patient psychology may create lasting effects. Marko Vujicic, ADA chief economist and vice president, has analyzed the landscape and helped formulate projections.
“I don’t see an imminent solution to the COVID problem,” Vujicic says. “ADA projections show a 38% reduction in the dental industry overall for 2020 and up to a 20% reduction for 2021—assuming no major changes to the status quo over the winter.”
At the start of 2020, independent dentists already faced pressure from growing Dental Service Organizations featuring aggressive growth plans, brand power, and proven systems. Projections suggest that DSOs may account for 30% of the market by 2022. Increasing student debt, falling reimbursement, and climbing supply costs combine to form a steady headwind for our profession.
Looking Forward, Looking Up
Despite the challenges, innovative private practices will thrive by offering exceptional service and consistently engaging their patients through multiple channels. But a proactive approach is mandatory, and it requires focus as a business leader. Sitting back and waiting for patients to choose our practices doesn’t work. We must execute with intention. As leaders, we must fit critical pieces together to draw patients to us and keep them there.
We don’t need an MBA to design a strategic plan and execute it. But we do need to think like a CEO. If we take time before the year begins to clarify the way forward for our brands, we’ll reap the rewards over the next twelve months and beyond.
Strategic planning and budgeting threaten to put us to sleep just after sunset, but it doesn’t have to be complicated. Set aside dedicated time to walk through a few steps, and you’ll face the new year with new optimism and security.
If you need an easy guide to develop a smart practice plan for your dental practice in 2021, I’ve created a toolkit that helps the process. Inside you’ll find:
- 10 Steps To A Strategic Plan for 2021: This eBook contains a step-by-step approach to review, assess, and plan key components for your practice.
- Annual Planning and Review Checklist : A must-do checklist to set your course for growth and fulfillment
- Dental Roadmap Report: A customizable, interactive spreadsheet to analyze overhead, profitability, and ROI. Enjoy this essential tool used by consultants.