I recently listened to a Dentaltown podcast that featured Bill Rossi of Advanced Practice Management in the Twin Cities. Mr. Rossi is a well-known practice consultant with a great reputation and the podcast highlighted the common traits he saw in successful practices. He provided his professional opinion, but also employed a statistician to review his clients’ numbers and back-up his assertions.
I agreed with many of his points, but also found a few other similarities between our highly successful dental clients - that is, practices that collect at least $1,000,000 per full-time doctor and have overhead of no more than 60%. Of course, there are many ways to define success, and I won't claim that revenue and take-home pay are the only measures. However, if you want to create a high-volume, high-profit practice here is what I believe needs to be done.