A multi-location dental practice hired MWA when it began struggling with cash flow. The client had heard about MWA’s unique understanding of why businesses perform at different levels and our ability to implement operational processes and strategies that improve overall company performance.
At first, the client’s owners and employees were completely overwhelmed and felt defeated. Although they were working incredibly hard and were passionate about the company’s success, they couldn’t determine why these factors weren’t having a positive effect on the company’s bottom line.
The Right Solution
After meeting with the clients and learning about every aspect of the practices – the roles of each staff member, the processes used for attaining and maintaining patients, the accountability of all staff inside the organization and many more – we then analyzed the financials to fully understand why such a great business wasn’t performing up to expectations. We convinced the owners that a one-page scorecard should be used to give the owners a better look at the critical metrics that were driving the company’s performance on a monthly basis. During the following seven-month period, the company experienced a 25% increase in profits, a 33% increase in patients, a 27% increase in production per patient, a 19% increase in collections per patient and a 10% decrease in payroll expenses.
Above and Beyond Results
We helped the client realize that to achieve its potential, it had to establish goals, track key performance indicators and hold itself accountable for doing the little things necessary to achieve its goals. We enabled the company’s leaders to finally understand how they were performing and to take corrective actions when necessary to keep the entire organization focused on constantly improving every aspect of the business.