Dr. Albert Goerig, owner and co-founder of EndoMastery, says that recent new endodontists need to be more focused than ever on the “business side” of endodontics.
I’ve had the opportunity to speak with many residency classes over the past year, and I am struck by how the new generation of endodontists is so different. Due to the unbelievable level of education debt they carry (and the nearly prohibitive level of additional debt that comes with a practice acquisition), recent new endodontists must be more focused than ever on the “business” side of endodontics.
They recognize they must navigate through the start-up phase and quickly close the knowledge gap created by the missing year of business education that every endodontist should have but no one gets. This thirst for rapid business knowledge is so acute among new endodontists that Endo Mastery has created a tailor-made program combining clinical and business coaching to get them up to speed and successful as quickly as possible. It’s paying off because the determination of new endodontists in the program is resulting in them achieving much more productivity and practice growth than many of their more experienced colleagues who have been practicing for a decade or more.
The average endodontist completes about 3 to 4 cases per day, working 4 to 5 days per week — an insightful statistic about the current state of endodontic business practices. Given the advances in clinical techniques and technology, most endo cases can be completed clinically in less than an hour if the doctor remains efficient and focused. What is the rest of the time spent on?
In an 8- or 9-hour day, doctors should be able to comfortably and easily complete 6 to 7 cases per day on average without stress and with plenty of time remaining for the other doctor essentials that need to occur daily. That level of productivity would also more than double take-home income, which would quickly eliminate financial stress and transform their lives.
It seems like a high incentive for doctors to invest in improving their clinical efficiency and business systems, yet many remain unchanged in their comfort zone without making progress. I’ve met many doctors with 20 or more years of experience in endodontics, but when I look at their numbers, I see 1 year repeated 20 times. Lack of true growth (above fee increases and inflation) for years in a row is the symptom of doctors who have not put all the clinical and business components of their practices together in an effective way.
The heart of practice growth is team-driven clinical efficiency. It is my favorite part of the coaching process to work with doctors and reveal to them how to optimize their clinical techniques and treatment process for better patient outcomes and better business outcomes that naturally follow. Combining that with improved referral marketing, team productivity, and business systems results in practices shedding their comfort zone and doctors experiencing the best that endodontics can offer at all levels.
Dr. Albert Goerig
Dr. Goerig shows how EndoMastery can help you cultivate a more successful practice in “Empowering your practice and team for growth and freedom.” Read it at: https://endopracticeus.com/empowering-your-practice-and-team-for-growth-and-freedom/
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