Endo Mastery

4 ELEMENTS THAT MAKE A GREAT DAY

CYNTHIA GOERIG

CHIEF EXECUTIVE OFFICER

At 200 days per year over the course of a 40-year dental career, you have 8000 work days to look forward to. That number alone is an incentive to get things right as early in your career as possible. Allowing for the fact that different doctors will have different visions of success, here are the four universal elements that go into having a great day, everyday:

Arrival Energy

A great day starts before you even arrive at the practice, when you wake up feeling engaged and excited about the opportunity to help patients and do the best you can for them. This happens when you are free from stress and you feel that your practice offers you a meaningful and worthwhile purpose for the day.

 

You know the practice is aligned to your personal goals, and you walk in the door feeling happy to be there, and confident that you will have fun regardless of how challenging the day may be. Equally important, your team members arrive with the same positive forward-looking mindset.

Flow and Teamwork

A great day is one where you are usefully active with patient care all day. Your time feels like a valuable resource, but you never feel needlessly pressured or overwhelmed … nor do you feel idle with time to kill. You move smoothly from patient to patient and experience a satisfying productive rhythm and flow. You spend the right time with each patient, doing each procedure at the right pace and feeling like you are “in the zone”.

 

At the same time, you are confidently relying on your team. They are trained to the highest professional level and you trust that each of them individually is a qualified, examplary representative for your standards when interacting with patients and referrers. Everyone on the team is choreographed and synchronized. They are in the right place at the right time, and they know what is happening and what needs to happen next. As a team, you feel fit and capable to enjoy yourselves during the day without stress.

Schedule and Productivity

A great day is when the practice performs at a high level of efficiency and productivity. This begins in the days leading up to today, when the framework for a great day was programmed into your patient schedule using a template designed to accomplish your goals while creating flow. Patients are properly prepared for their appointments, so they arrive on time and prepared financially to accept treatment today if diagnosed.

 

Downtime and lost time are avoided. Not only did you complete the cases scheduled in advance, but you and your team adapted with effortless court sense for same-day emergencies. You feel everyone on the same page and making a positive effort to help patients and move the practice forward too. At the end of the day, you compare yourself to your goals and you knocked it out of the park, allowing you to easily achieve your daily economic goals for the practice while delivering high quality endodontics!

Completion Mindset

At the end of a great day, you and your team feel a sense of closure and success in accomplishing everything. You feel complete and satisfied, and your incredible teamwork ensures that everything today is finalized so that nothing incomplete carries over to the next day.

 

Most of all, far from feeling worn out, you feel as energized as ever. You leave the practice thinking, “What an incredible day!” and you feel pumped with enthusiasm. You go home to your family or personal activities as happy as you were when the day started.

Why You Need Great Days Everyday

Before you say this sounds like an unrealistic fantasy, let me say that not only is this how most of your days could be; it is how most of your days should be. Forty years is a long time in a career as demanding as endodontics. The saddest thing is doctors who feel de-energized, worn down and want to escape the profession. It’s so unnecessary.

 

Great days don’t happen by accident. They are created with intention. If you feel great days are few and far between, or need to be more consistent, give us a call and let’s talk about how we can transform your practice.

ELIMINATING PRACTICE AND PERSONAL DEBT

DR. ACE GOERIG

OWNER & CO-FOUNDER

Almost everyone takes on debt at some point. For dentists, educational debt is usually just the beginning, soon followed by practice start up or acquisition debt. Then comes all the personal debt: mortgages, cars and consumer spending associated with the expectation of living a good life.

 

For many doctors, debt is rationalized as a temporary necessity that ends up becoming a permanent fixture, with debt payments as a constant drain financially and emotionally. Banks and financing offers seduce doctors to take on more debt with “low interest” loans that perpetuate the cycle.

 

Consider a $310,000 mortgage at 4.5% over 30 years. In the first year of loan repayments ($1571 monthly x 12 = $18,849 annually), only $5001 goes to pay off the principal. $13,848 goes to paying interest. So, 73.5% of your payments go to interest. By the time you have finished paying the loan after 30 years, you will have paid $255,461 in interest. That’s 82.4% of your original principal amount.

 

Neither of those percentages sound remotely close to 4.5%. Any time you take on debt, you must realize that (regardless of the interest rate), you are going to pay through the nose for it. Debt may be a necessary evil for school and getting started. However, once you are in practice, continued debt is voluntary self-sabotage.

ELIMINATING DEBT FOREVER

There are many advisors who will give you strategies to pay down your debt, such as paying off the debts with the highest interest rates first, etc. However, none of these methods actually address the fundamental issue that drives debt for most doctors: persistent debt problems are actually income problems in disguise.

 

Your ability to pay off your debt quickly depends on your available cashflow over and above your current financial obligations. That means the fastest way to get out of debt forever is always based on growing your income, which means growing your practice.

 

At $1450 per case, the addition of one case per day (working 4 days per week, 48 weeks per year) results in $278,400 additional revenues, which is easily over $250,000 in added profits after clinical supplies and other variable costs on those cases. Two additional cases per day results in over $500,000 more profit annually, which is $2.5 million over 5 years.

 

With $2.5 million more in income, I would bet that completely eliminates your debt and sets you up with such a strong cashflow that you could self-fund all your future needs without ever having to resort to borrowing money again.

 

This is why Endo Mastery talks about transforming the practices and transforming the lives of doctors. We consistently help doctors get out of debt quickly, eliminate their financial stresses, and empower them with success that lasts a lifetime.