Why some GPs struggle financially

If you are taking home as much as you can possibly handle, please skip this article. This is not for you. Dentistry is an incredibly lucrative profession. So, why do some dentists have such a hard time making a good living? In my twenty five years of practicing dentistry I have worked with, taken seminars with, interviewed, and met an extraordinary number of dentists who struggle financially. These doctors range from newly graduated, to those who have had decades under their belts, from experienced, to inexperienced, both skilled and unskilled. Why?

?I’ve thought long and hard about the answer and the conclusion which I have come up with is so simple it will be shocking to many. For most, the reason is that they create imaginary hurdles for themselves which directly hamper their own financial success. And they are encouraged to do so by the dental establishment who constantly beat the drum that general dentists need to be certified in implants, botox, ortho, sleep apnea, and the list goes on. They are told that they need to focus on the “big productive” cases. I disagree, I believe there is a much easier way to be productive. The following are just a few examples of these imaginary challenges:

?1. Doctors who believe that they struggle financially because they don’t know how to perform implants. They lament, “If only I could do implants I would be successful”. Sadly, many of these same doctors still struggle after they get certified to do implants. This mindset is so ingrained that even if I encounter these same doctors struggling to make ends meet financially and show them there is a much easier way, they cannot let go of their beliefs. As a result, they choose to keep struggling. I am finding that this belief is getting more prevalent and earlier. Even new graduates who cannot yet perform a root canal proficiently, tell me that implants are their passion.?

?2. Doctors who struggle because they feel that they don’t have the best equipment. If your equipment is functioning, this is not the real issue. Oftentimes, these doctors will take out a loan or stretch to buy the equipment that they believe will make their lives easier and are surprised to find that nothing really changed except for the fact that they are now out the thousands, sometimes tens of thousands or even in some cases, a hundred thousand dollars or more and are still right back in the same situation financially. After a couple of months, the new toy that they thought would turn things around sits in the corner and collects dust.

?3.?Doctors who think, “if only I had the right branding, pay per click advertising, SEO, billboard, website, social media, tv ad, etc”, then I would be successful. Internal (free) advertising is always better.?

?4. Doctors who believe that they do not have the perfect location or that there is just too much competition around them. This is true that there are some locations that are better than others. However, you can still do exceptionally well with a mediocre location.

?5. ?Doctors who believe the fact that they did not complete an AEGD or GPR program and they use that as an excuse to not know how to do difficult procedures. I have seen associates without AEGD or GPR certifications do just as well if not better than those who have them.?These may be the most common but, there are an infinite number of? excuses these dentists create in their minds and hold onto as excuses as to why they are not producing as they would like. The good news is that this is all they are, mental blocks in their minds and they can be turned around almost overnight if these same doctors choose to change their way of thinking. However, there are a few real challenges which cannot be overcome as easily:

1. Doctors who are not able to perform fillings with skill and speed. I was an incredibly fast practitioner. There was no procedure I could not complete with both an incredible level of speed and skill. However, the more I produced, the more I noticed that most of my production was composite fillings. If I had to guess, I would say that it made up about 65% of my total production. That means that the doctors who refuse to do fillings are losing out on 65% of possible production. So, if these same doctors decided overnight to remove all those leaky amalgams and address every single carious lesion they found instead of just placing a “watch” and actively tried to improve their speed and proficiency with composite fillings, how long do you think it would take them to increase their production by 65%? And that is without spending a dime on any fancy equipment or supplies.?

?2. Doctors who look down on performing fillings but at the same time, are unable to perform the more challenging GP procedures with skill and speed such as root canals (including molar), as well as fixed and removable prosthodontics. If I estimate 65% of my total production to be composite fillings, the remaining 35% would be made up of more technique sensitive GP procedures such as all types of endo, all types of extractions, crowns, bridges, and partials. So if you are referring any of these procedures, you are missing out and the specialists whom you are referring to may likely be wiping out the entire insurance coverage for your patient for the rest of the year. For those who say, they are looking out for their patient’s best interest, my answer is, this is the beauty of being a general practitioner.? You are licensed to do the exact same procedures. The only difference between you and other specialists is that they have had more practice. So, take the time and effort and practice so that you can take care of your own patients.?

3. Doctors who lack customer service skills and/or believe that they do not need them. As I mentioned before, there is no amount of money that you can spend on advertising which will bring you repeat customers. You have to provide a level of customer service that will keep your patients coming back to pay you exorbitant amounts of money so that you can cause them pain and discomfort, year after year.? How I treated my patients gave me exponential growth and I had patients still asking for me after twenty years. Can you change your personality and turn things around? Of course, as anything, this will also take time, effort, and most importantly, an intentional decision to work at it until you achieve success.?

?These three make up the most difficult challenges to production for any general dentist. However, these too can easily be turned around with resolve and practice. They are not like the imaginary challenges in which you can just wake up one day and decide to do a complete 180 degree turn around, but they are definitely changeable. Sadly, some doctors, due to their inability to do difficult procedures and their unwillingness to do simple procedures such as fillings, end up hardly producing at all. This is precisely the reason why some dntists struggle financially. The common denominator in all these excuses, whether real or imaginary, is that the patients suffer as a direct result.?

Dentists should always place their patient’s care first by taking care of their oral health, and the way to do that is by immediately addressing all caries, large or small, and then secondly addressing aesthetics. Making money should only be the end result of taking good care of your patients. The outcome can be tremendously rewarding both financially and professionally if only dentists would be willing to change their mentality on how to achieve financial success. I want to make life easier and less stressful for dentists, while showing them how to make a great living by delivering the best care for their patients.