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All Posts By

Phil Cole

Are You Achieving Your Goals? What Keeps You Up at Night?

By | Associateship, Mentorship | No Comments

I have had the privilege of working with dentists who seek to become better dentists for their patients, stronger leaders for their business, and happier in their personal life.

Let me start by telling you a story:

Dr. A and I were talking, and he said, “I am struggling.”
This was surprising to me as the doctor had a great reputation and a successful practice. I asked him, “Tell me more about this struggle.” His response was a response that I hear much too often. He said, “I have a successful practice. However, I feel like I am working harder and harder. I feel like a gerbil going around and around in a cage, but my efforts are not being reflected in my cash flow or bank account.”

He then went on to say what he thinks he needs: “I think I need an associate or maybe I need to add another room or two to help with the schedule.” After a three-hour discussion, I found that Dr. A. felt that his business was not only causing HIM extreme stress, but it was also affecting his family life. In order to pacify his home life, he tried to “buy” his way out of the stress with vacations and “toys” to make the family happy; however, as always that is short lived. Through our discussion I led him to understand that having effective strategies and goals with accountability, allows for peace both in work and family life.

I ask you, does this sound familiar or at minimum something similar to what you may be experiencing in your life or practice?

We all have those nagging voices in the back of our heads reminding us of the things we want to do, or are supposed to do, or have to do, but we simply, for whatever the reason or rational, are unable to complete. We all have sleepless nights wondering how did this happen and how do I fix it. Frustration and anxiety build as we don’t seem to get any closer to completing those projects or tasks. In many cases, dentists don’t even know where to start. I have the answer.

The answer is: YOU NEED AN ACCOUNTABILITY MENTOR COACH!

It may be working on your business development and understanding how your business numbers coincide with you practice numbers. It may be getting your business financials in order, or getting your practice KPI’s (Key Practice Indicators) the same. Maybe it is to reach your goal of adding additional rooms or hiring an associate. However, the stress or thought of the extra monies, more work, or lack of time keeps you in this paralyzed state.

As a mentor, I coach dentists first to create or believe in their vision. We set goals to make sure they are systematically put in place and upheld. Follow a detailed action list while monitoring your progress. As your mentor, the most important aspect of the program is holding you accountable, making sure your vision and goals are a success.

Structure in a systematic non-threatening environment is the purpose of a mentor coach.

The mentor program includes:

    • A thorough practice assessment.
    • Monitors with over 60 KPI’s
    • Monthly action item list that is tailored to your vision and goals “that you commit to getting accomplished by a specific date.”-We keep track of what you actually have completed.
    • Scheduled accountability and support calls.

Going to the gym after years of neglecting exercise is tough. We crawl out of bed dreading the pain we are going to endure. However, after a few days, weeks, and months we breathe easier, feel stronger, and see ourselves toning up.

As much as the concept of hiring an accountability coach is somewhat strange and maybe to some, unfamiliar, there is no doubt that it gets results.

I end this article as I started, with a question, are you ready to turn purpose into prosperity?

KLAS Solutions coaching is what will set you and your dental practice apart from the masses. Contact us today, let’s discover your possibilities. Call 844-552-7100 or email us at [email protected]

Want to Take Action?

Email our coach Nancy your concerns and let’s do something about it!
Email: [email protected]

Ask Yourself – What was our biggest practice accomplishment

By | Coaching | No Comments
  1. What was our practices biggest accomplishment in 2017?
  2. What were the barriers that prevented the practice from reaching its potential?
  3. What will be your practices focus for the year 2018?
  4. What needs to happen to achieve those objectives?
  5. My personal goal for this practice in 2018 is?
  6. How will I obtain this goal?
  7. How will reaching this goal benefit the practice?
  8. How will I benefit by reaching this goal?
  9. My personal goal for this practice for the next 5 years is?
  10. How will I obtain this goal?

Performance demands strong and healthy systems and synergy.  In a dental practice, we must incorporate specific systems to increase production, collections, and create a strong leader that motivates his/her team.

The Performance Program incorporates leadership training– teambuilding – business and hygiene systems. Our coaches will come on site, into your practice, to teach and train you and your team on how to create and implement the tailored methodology of systems for your specific practice. Our customized systems allow for your practice to be successful and have your own personality and identity at the same time achieving your goals.

Contact us at 844-552-7100 and speak directly with one of our coaches about our programs and services.

Want to Take Action?

Email our coach Nancy your concerns and let’s do something about it!
Email: [email protected]

Protect Yourself from Dental Embezzlement

By | Communications | No Comments

Embezzlement is a serious problem that continues to grow in the dental industry. Depending on the surveys that have been done by multiple sources, the average amount ranges from $20K -$900K. Highs into the millions have been reported. Here are some examples of how it can happen and suggestions to prevent a loss.

How it can Happen:

  1. Payroll checks – hours not worked, vacation & sick days, salary increase, and/or “ghost” employee.
  2. Adjustments – with payments received and/or expense items.
  3. Expense reimbursement – Non-legitimate expenses
  4. Patient Payments – adjusted or not entered, and checks being cashed.
  5. Practice “Dummy” Account – part of checks to deposit going to a second unauthorized checking account. There are thousands of ways this can be done.
  6. Cash payments – reduce the charge amount in the patient’s record but charge the accurate amount.
  7. Write offs – post the charges, but keep cash.
  8. Refunds – written to “fake” or “test” patients.
  9. Computer – payments backdated and/or deleted.
  10. Vendor/Supplier Payments – pay vendor twice and then use refund.

Suggestions:

  1. Be the Boss and owner of your practice. No one that is directly involved with you practice on a daily basis is immune to this problem. As an owner, the more involvement you have and strategic systems that are in place prohibit embezzlement.
  2. Know your practice software. Reach out to a practice consulting company to show you how to engage in specific reports to ensure proper handling of adjustments, payments and credits.
  3. Perform audits. Audits should be routinely done and can be password protected in the practice management software to ensure no tampering. Front desk team members should not be able to run these reports.
  4. Cross train employees. Make sure all front desk duties are able to be done by all of your office team.
  5. Disperse duties to more than one person. Don’t let the office manger or one specific person open the mail, make the deposits, or hold petty cash.
  6. All adjustments should be authorized daily by you the owner. A report should be reviewed by the owner daily.
  7. Make sure embezzlement is covered clearly in your employee handbook. If you do not have an employee handbook reach out to a consulting company right away.
  8. DO NOT SHARE ADMINISTRATIVE PASSWORDS!
  9. Do not have the idea or thoughts that it couldn’t happen to you. Remember over 50% of dentist are embezzled and many that were embezzled thought it would never happen to them.
  10. Surround yourself with dental professionals. If you do not have a thorough monitoring system in place, talk to a consulting company to implement a monitoring system.

Disclaimer : Materials that you will read were prepared for general information purposes and are not intended as legal, tax or accounting advice or as recommendations to engage in any specific transaction. Please consult your own counsel, accountant or other advisor regarding your specific situation.

Want to Take Action?

Email our coach Nancy your concerns and let’s do something about it!
Email: [email protected]

PPO or Not to PPO….that is the question

By | Insurance | No Comments

After assessing numerous practices, one of the first questions I’m asked is “Should I stay in network with the insurance companies.” There is not a simple yes or no answer. There are three options. Fee for Service….no participation with any insurance company; In network with all insurance companies (PPO’s) or Partial enrollment. As some of the insurance companies are lowering their reimbursement which will affect your bottom line, it will be necessary to seriously consider your options.

Fee for Service: Full fee and full payment. No write-offs and no negotiating. Patients come to see you, you diagnose, patients decide on treatment and you get paid 100% of fees charged. Sounds ideal but there are factors that must be taken into consideration. Your location, your competition, your patient base, patient demographics, timing, your fees and your vision for the practice,

PPO – sign up with every PPO….work twice as hard for half the money, use double the supplies and double the time in sterilization because you have to see double the patients just to meet your goals. Creates a chaotic atmosphere not to mention the lousy taste it leaves in your mouth. Pun intended.

You can decide on ‘Partial participation’ with the insurance companies that have reasonable reimbursement.

So how do you decide and where do you start? Know your numbers and know the demographics of your patient base. If you don’t know how to do it or what to assess, get someone to help you. I recently completed a ‘virtual assessment’ for a dentist who wants to drop a major insurance company that he felt “75% of my patients have”.

After I completed his virtual assessment we were able to determine the true percentage of patients with the various insurance companies he was in network with. We also created a plan for when his practice can support dropping the major insurance company!! (who is once again lowering their reimbursement to the dentist!) Through the assessment, I determined there was major problems with their computer recare system, their TRUE active patient base along with other issues that would ‘kill’ their practice if he just dropped it. However, we were able to put a plan together to slowly drop the PPO’s over a certain amount of time so that it would not financially impact his practice or the patient base. This was a dream come true as he has not felt good about going to work for a long time…it wasn’t fun and he had lost his passion for dentistry. Teaching the administrative team effective scheduling techniques allowed the practice to limit the write-offs on a daily basis. Over time, this adds up to thousands of dollars. Through my assessment, I was able to look at the significant discounts, write-offs, freebies, family rates and adjustments given to the ‘fee for service’ patients that was also making a significant impact on the bottom line.

Do your due diligence….know what you can do today to make an impact and have a plan to eliminate over time. 95% of the dental practices I work with complain about the write-offs, the PPO’s etc. but no one is doing anything to rectify the situation. It all starts with a plan. Stop complaining about all your write-offs and adjustments and take your practice back.

Nancy completes virtual and ‘on-site’ practice assessments to address your specific concerns about insurance participation, internal team stress, leadership concerns, incentives, policies, hygiene programs/liability, treatment coordinating, productive scheduling vs. a busy schedule, communication within the team and any other concerns you may have. You have to assess your patients in order to provide a short and long term treatment plan. Why aren’t you assessing your practice to have a short and long term business plan for the practice?

Want to Take Action?

Email our coach Nancy your concerns and let’s do something about it!
Email: [email protected]

Why Select Klas Solutions as Your Coaching Company?

By | Business, Clinical, Team and Leadership | No Comments

In business and in life, change equals growth. Growth in your personal life and in your practice, takes commitment and support. Drs and their team know there are systems that need to change, however they don’t know HOW. KLAS Solutions coaching creates a trusting, supportive relationship with you and your team. It starts with assisting you in creating a vision that will empower the dental team to support your practice now and in the future.

Without consistent, independent support from a coach even our best intentions get overtaken by the stress and circumstances of our daily dental lives. The professional support, insight and accountability of KLAS Solutions coaching can help you make lasting breakthroughs.

If you are considering some changes in your practice, we can assure you that working with KLAS Solutions coaches can make a huge difference.

As KLAS coaches, we focus on you and your team to implement the systems necessary for your practice to reach its full potential. “A system is not a system unless it is done consistently.” Our coaches create an environment where the new systems become the new norms.

Our goal is to create the ultimate team, leadership, and business solutions to achieve the goals and vision you, set forth for yourself and your practice.

Leadership starts from the top down ..Klas Solutions helps you discover your unique gifts and talents as a leader and dentist; what you are most passionate about, what are the strengths that contribute the most to your success as a dentist and what holds you back from creating your dream practice?

KLAS Solutions prides itself on its customized approach to coaching that aligns your strengths and passions to your ideal practice and helps you and your team grow with more meaningful and lasting results.

Taking advantage of our On-Site coaching program will help you accelerate your success and give your team the tools necessary to be the dream team you desire.

Want to Take Action?

KLAS Solutions coaching is what will set you and your dental practice apart from the masses. Contact us today, let’s discover your possibilities. Call 844-552-7100 or email us at [email protected]