New Study by Sterling Reveals Dentists Cannot Move Their Practices to the Next Level
Sterling president today announces the results of a study of dentists which reveals key areas of stress in managing their practices.
February 20, 2014 (Newswire.com) - One of the top areas of stress for dental practice owners is "feeling like they cannot get to the next level" according to a study conducted by management consulting firm Sterling (www.SterlingDentist.com). The recently-concluded study was based on a series of online surveys of dentists throughout the United States.
The study also revealed these areas of concern for dental practice owners:
44% Not enough profit
42% Holes in the appointment book
38% Managing and motivating staff
"Most dentists wish they could just perform dentistry and not have to deal with the management end of the practice," says Sterling president Barbara Wilson. "That's only because they lack proven management tools to help them advance and achieve their goals. Those tools, which are part of our program, are just as essential to the practice owner's success as his or her dental tools."
The following is feedback from users of Sterling's management tools:
"When I started, our production was $12,000 to $18,000 per month which today would be a really bad day for the practice. We collect 98% of our production and profitability is at 40%. Instead of working endless long hours, I have time to spend with my family, coach Little League and go on family vacations. I know how to manage a profitable practice and enjoy life at the same time."—Robert Marx, DDS
"I learned that I can't put my practice on cruise control. It takes work to be successful but I love what I do and being well-paid for it. My consultant and I are now working out how to reduce my 4-day workweek so I can do more outside of the practice with my wife, while ensuring my practice continues to grow."—John Hackbarth, DDS
"With the marketing principles I learned, I could go into the most competitive area, just walk in, and have a new practice booming within four to six months. Doctors and marketing people call me all the time to ask who my 'marketing people' are. I usually just give them the name of my graphic designer. That's easier than explaining that I'm my own 'marketing guy.'"—David Cutts, DDS
Sterling is a consulting firm which provides customized management consulting and training to dentists to help them achieve a better practice for a better life. In business for over three decades, Sterling has twice appeared on Inc. Magazine's list of the 500 fastest-growing privately-held U.S. companies and has received an A+ rating from the Better Business Bureau. To date, the company has delivered management seminars to over 175,000 professionals and their staff and more than 70,000 training courses to clients and their staff. Sterling's courses cover all key aspects of having a successful practice including the essentials of practice management, executive basics, management by statistics and formulas for business success. Sterling consultants have delivered over one million hours of consulting, coaching and training. As a result, Sterling clients have seen their revenues and productivity rise to unprecedented levels. For more information on Sterling's training and consulting services, visit www.SterlingDentist.com.