What is Operational Equity®?
In business, you have funds that are already produced and funds that are waiting to be produced. Oftentimes, these funds are left sitting in inefficient operational modules of your practice. Our Operational Equity® analysis will locate the areas of your practice that are underperforming and impeding collections.
Since each operational module of your dental business has specific tasks, standardizing and organizing processes may be difficult, but inefficiencies and a lack of standardization may be costing your dental business revenue. An analysis of your Operational Equity® will show you where your dental practice’s hard-earned money can be regenerated or reactivated to serve your business in a more effective manner to increase revenues. At Dental Performance Institute, we will help you locate your Operational Equity® to transform your dental business into a highly profitable practice.
What We Do During An Operational Equity® Analysis
Dental Performance Institute’s custom analysis will evaluate your dental practice, specialty business, or multi-location (emerging DSO) practice to assist each dental practice in developing a customized strategy for recovering a portion of those funds, with top focus on the four-five operational modules that positively impact your business’ bottom line.
As dentists, you attended dental school to learn how to practice the art of dentistry, not to necessarily oversee the business aspects of dental practice management. Dental Performance Institute can help with the business aspects of your dental practice to standardize your business operations to help your organization optimize profitability and growth. Allow Dental Performance Institute to analyze the operations of your dental business to ensure the standardization of each of your operational modules and increase your Operational Equity® for optimal profitability, growth, and continued success.
During our Operational Equity® Analysis, some of the aspects we review and evaluate are:
How We Perform An Operational Equity® Analysis
We perform our Operational Equity® analysis using the following protocol:
Step 1— Interviews: To get a better view of all aspects of the business, we interview owners, associates, and team members to assess their experience, skill level, and understanding of their roles in business operations.
Step 2— Report Generation: We analyze the practice’s systems and customized reporting tools in addition to the Profit & Loss statement to complete a comprehensive financial and operational analysis of all components.
Step 3—Observations: We will examine your office operations to identify existing areas in need of improvement. We also identify modules that encourage the practice’s business growth and customize tracking solutions to keep them working efficiently.
Step 4—Customization: We create an analysis report of the practice, including the practice’s outstanding Operational Equity®. Furthermore, we develop a customized Implementation Action Plan to address areas requiring improvement.
Dental Performance Institute does not believe in a one-size-fits-all solution for our clients. Each of our Implementation Action Plans are developed to suit our individual clients’ vision, goals and practice requirements.
Step 5—Guidance: Pending your approval of the proposed plan, our coaches direct practice owners and their team members through the customized Implementation Action Plan by means of on-site visits and virtual meetings. Hands-on operational module implementation is imperative for success.
Discover and optimize the Operational Equity® available to your business today! Call us at (630) 549-3224 or fill out our contact form and schedule a time to request your complimentary consultation.