How to Predict Profit with System Design

Leona Meditz interviews Tara Groody, CEO of Fortress Business Advisory about how to predict profit with system design.

To get the CEO Skill Wheel Assessment offered in the video, scroll down and rate each question. You will get your CEO Skill Wheel Assessment report in a few days after submission.

Set a call here with Leona to help you understand how to improve profit with a new system design.

Skill Wheel Assessment

There are 5 system components that must work together to increase profit, reduce stress, and improve patient care.

The 10 questions per component will tell you what is missing or underperforming in your practice design.

Set a call with Leona Meditz to determine how to design your practice based on your values and you will also get a plan determining which component to work on for fast results.

Systems Skill Assessment

First Name

Last Name

Practice Address

Address Line 1

Address Line 2

City

State

Zip Code

Owner verification

I am the owner and understand this assessment is complementary and for my learning only.

Operations

We have 15 or more new patients per month

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

We have a written policies and procedures manual that we use to train team

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

We have a written standard operations manual outlining each process we perform

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

Doctor’s schedule is 80% or more full two weeks out

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

We have weekly staff meetings

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

We have daily huddles to prepare for our day

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

We have daily huddles to prepare for our day

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

80% of our team stays more than 2 years

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

Most team would agree that stress is not a factor in this office

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

Our hygiene schedule produces $150 or more per hour

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

Sales

At least 50% of patients accept cases presented over $1500

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

Collections are at least 15% higher than the 12 months previous

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

We offer at least three payment plan options to our patients, not counting credit cards

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

We offer at least three payment plan options to our patients, not counting credit cards

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

My treatment coordinator has had training on how to present cases

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

Less than 50% of collections are from insurance companies

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

Collections are at least 98% of Production

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

At least 50% of my patients have a next appointment scheduled with the doctor

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

At least 50% of my patients have a next appointment scheduled with the hygienist

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

All of the treatment diagnosed is presented to the patient

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

Marketing

I can predict ROI for every marketing campaign within a specific timeline

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I track how every new patient “discovered” our practice

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

Over 50% of New Patients came from a marketing campaign

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I am confident which marketing tools to use to attract the best patients for my practice

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I know the demographics of my best patients, including the zip code that they live in

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I know how long to let a campaign run before pulling the plug on it

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I know how much to spend on marketing

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I know the difference between SEO, social media and Web presence

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I know how to collect and evaluate marketing data

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

Finance

I know how much it costs to operate my business each month

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I know how much I need to take home and keep my practice healthy

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I know how long I need to work before I can exit the practice

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I have a budget in place to manage spending

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I am confident I have enough cash flow to keep the practice fiscally healthy

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I am confident I am maximizing every tax write off available to me

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I know when I can offer raises to my team and how much is healthy to give

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I know how much debt is healthy for the practice

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I know which insurance plans to “join”

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True

I have three months of practice operation costs saved in the bank

1 Never True

2 Rarely True

3 Sometimes True

4 Mostly True

5 Always True