Well, I hear it almost on a daily basis: “Woody if I could just motivate my staff… we’d have a great dental practice and have a nice profit each and every month.” But here’s the problem… WIIFM?
From a staff person’s perspective, it all boils down to What’s In It For Me? A program based on any other concept is doomed to failure.
Dr. Bill Kimball is a former practicing dentist who has spent the last decade of his life coaching dental teams to greatness! An area of special interest for Bill has always been leadership and staff development. Lately his expertise has been focused on bonus systems. And through that research he has developed what I feel is the best bonus system in dentistry.
Maybe your production is “stuck” at $42K/month (or less)? The doctor across the street isn’t any better clinically than you, yet his/her “team” is on fire! They are collecting twice as much as you are, leave the office at least an hour earlier than you, and the ladies have a smile on their faces… because some months their bonus checks are LARGER than their regular checks!
And, that doctor doesn’t even mind paying out all of that money because the big checks are rolling in for him/her as well. With a team “on fire” you (the doctor) just show up for work and let them lead you through a stress-less, highly productive day. Sounds great doesn’t it?
You see, the problem is, most doctors don’t have a clue how much it costs to open and run their dental office for a day. A quick way to do this is to take all of last year’s expenses and divide that by the number of days worked. Let’s say you had $500K of expenses and worked 16 days per month. Here’s the math:
16 Days X 12 Months = 192 Day/$500K / 192 Days = $2,604/Day
What this means is that you must produce and collect at least $2,604/day to break even that day. So ideally, you would produce and collect at least $2,000 - $3,500 above that amount to add to the profit column?
As Dr. Earl Estep used to say, “Some days I made more money by staying home.”
Well, with this system in place I doubt that you’ll ever fall into the “stay at home status.” The reason? Staff people are energized when they feel they are richly compensated by bonuses.
Here are some key parts of this revolutionary bonus system:
· Bonus is calculated in NET collections NOT production
· Team members must be employed at least 30 days to be included in bonus systems
· The bonus is calculated at the end of the month… then paid on the second pay period in the following month
· Have only two pay periods per month
· Always use a graph to track the bonus
· A bonus system must be easy to understand… or it won’t work
· What about the Whitehall Management bonus system?
And much, much more!
This program contains an audio CD by Bill and myself, a complete written transcript of the CD, plus Bill’s 8-page handouts. These handouts provide all you need to understand and implement the system. And, if you order within five days, you’ll also get a laminated, dry-erase graph board that can be posted in the staff lounge or the “War Room.”
I’ve coached 100s of dental offices, and without exception every office that incorporated a bonus system produced more dentistry and, in the process, created a motivated and staff-driven practice.