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MORE WITH LESS
WEBINAR
October 16th - Register
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THE POWER OF METRICS
The Second Element of 'More with Less'
"More with Less" is the Second Step in our Six Steps
to VALUOCITY© - a practice management technology
designed to ensure viability of dental practices in the
current economy.
In More with Less, first and foremost is Effective
Communication, which we addressed in our last
newsletter. Next is applying the methodology
of 'metrics' to areas of poor or underperforming
aspects of the practice. The third step is a natural
extension of the first two, Reduce Mistakes. In this e-
newsletter we're going to address the methodology of
Metrics.
There is a difference between a measurement and a
metric. A measurement, the way we distinguish it in
our work, is a standard measure for any dental
practice. Most consultants, including our company,
use customary measurements to look at a practice, to
evaluate a practice's performance as compared to
other practices. A measurement in this context is an
industry acceptable standard such as measuring
production, collection, overhead or new patients.
Now a number of very good consultancies like
Schuster, Mercer and Pankey get much more
granular, using a host of finer and finer
measurements - but all these measures are applied
equally to each and every practice they work with, big
or small, multi provider or single provider, urban or
rural. The same ruler is used on every practice. They
allow comparison, benchmarking, etc., but that is not
what I'm addressing here. These are all
measurements, not metrics.
When I did my corporate consulting as an
independent contractor for some very successful
consulting companies and their Fortune 100 company
clients, I noticed that companies like Intel, GE Capital,
Boeing and Merck used additional measures
internally. Sure they used the standard numbers, the
ones that were in their quarterly reports, the ones that
Wall Street used to assess their performance, the
ones their competitors used. But in working with them,
I noticed they applied other measures which were
used only internally, measurements that were unique
to the company and used for very select purposes.
They were using the methodology of metrics.
A metric is different than a standard measurement. It
is an invented way of measuring a particular aspect of
a business or practice. It is a generated, numerical
assessment of some area of the business that
requires improvement or upgrading. It is "made up" by
the constituents of the unit, division or practice.
In our work, we have clients with pressing issues or
concerns, particularly during these economic times.
For example, a practice is showing continuous holes
in the hygiene schedule. When I ask the client to tell
me about their concerns, they say things like, "It's
really slow, the last four months have gotten worse,
the recession has finally hit us, we're calling, but
they're not responding, lots of illness and so on."
These are simply descriptions, generalizations,
nothing useful that will change anything. They are
reasons, excuses and justifications for why people
are not showing up for their hygiene appointments.
We work with our clients to develop an internal
measurement that will demonstrate activity in
resolving this concern. We let them know straight
off, "In business and life, you get what you measure."
We assemble the responsible individuals in the group
who have their hand in recall patient showing up for
recall - the front desk, the hygienist, and yes, the
dentist. We look at their current interactions with
patients about recall; is the dentists speaking the
fundamental and critical importance of recall to the
patient or "just shooting the breeze." Is the hygienist
speaking the importance of making sure the patient
makes and keeps their six month recall? Is the front
desk confirming information or is she using the
language of commitment?* Is the patient asked what
confirmation procedure works best for them? Each of
these actions steps is measurable.
Then we ask them to choose one or two of the actions
steps to measure; i.e. they may choose the number of
times per day the doctor speaks directly to the patient
about the importance of keeping their recall
appointment and the number of times the front desk
confirms patients using a committed interaction*. We
ask them to measure the frequency of these events.
In this way, their metrics will generate effective action
so that a particular future will happen. A measurement
such as how many no-shows occurred is after the
fact. It is past based and this measurement won't
change your results.
A metric is a powerful and unique tool you can apply to
any area that is not performing, or underperforming.
It's an invented measure. It promotes actions that
directly address the concern or issue. If there is no
improvement in the area of concern, then we change
the metric until we find one that produces the results.
Knowing how deep the lake is, knowing how far you
are from shore, doesn't get the boat to shore.
Counting the number of strokes you and your other
oarsmen take, well, that will get you to shore.
Whatever you focus on expands. Whatever you
measure you focus on. It's as simple as that.
NOTE - We educate and train our clients in
managing conversations such that committed
speaking occurs. Committed speaking generates
highly effective action and dramatically increases the
likelihood for results to be produced.
Dr. Marc B. Cooper
The Mastery Company
MasteryCompany.com
MORE WITH LESS WEBINAR
This Webinar will address the cardinal elements of
applying specific principles and processes to your
practice to get more output with fewer resources.
Please join us on Friday, October 16th for our 3rd in
this series of Webinars.
Start Time: 11:00 AM (Pacific)
Duration: 90 minutes
REGISTER NOW!
SOCIAL MEDIA
UPDATE
Check Out Marc's Blog! You'll find things there he
doesn't say in the eNewsletter! Blog me up,
Scotty!
Marc is also dabbling in Twitter. Take a peek!
Follow Marc
to Twitter
Copyright © 2004-2010 Dr. Marc B.
Cooper &
The Mastery Company - All Rights
Reserved.
Comments or Questions -
metrix@emisar.com
Please feel free to forward this Newsletter to your
colleagues, staff and acquaintances.
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