Is it possible to reorganize an office to maximize income, job satisfaction for every team member, and the amount of time performing dentistry? Gary Kadi believes it is and he explains how to get started with this one step: turn your payroll expenses into investments.
This psychological shift is subtle and extremely important because nobody likes expenses. In theory, if expenses are reduced, it is believed that income will increase. Kadi points out that this “shrinking thinking” has never grown a practice.
Instead, view team members’ salaries as an investment rather than an expense. As an example, Kadi explains that the more salary the member doctors in his Complete Health Dental community pay, the more money they make. That’s because these doctors have come to view many of their expenditures on payroll, equipment, and technology as investments in their practices, and they see the stunning return on investment that’s possible for them and for their teams. (Of course, their practice model is set up to ensure this return, as is the Complete Health model being installed in practices around the world.)
In no way is this a suggestion to lavish huge salaries on a team in order to motivate them. Rather, pay appropriate base salaries combined with extremely generous bonuses based on performance above the agreed upon DAILY return on investment you pay them.
This combination of appropriate salary plus daily bonuses creates a team highly motivated to make a difference for patients; bring in new patients and return current ones; and close, insert, and arrange payment for the maximum amount of dentistry that your patients truly need. That’s what happens when salary is viewed as an investment rather than an expense. Read more for more information.