measuring dental business success rose&co advice

How to Measure Success in a Dental Practice

The most recent high profile mis-selling scandal (a mere £29m fine imposed by the FCA in March 2019) specifically references ’spin selling’ (a method of persuading customers to purchase the service based upon selling the features and how to overcome objections*) and that the focus was on the end result (the sale) rather than assessing whether it was suitable for the customer.

History has repeatedly shown us that spin selling in regulated sectors, where the focus is upon converting as many leads as possible, can drive behaviours that a regulator may subsequently penalise. Imagine working in these environments at the time, and it conjures up images of rewarding behaviours that are exclusively focused on the sale, which is great if that is your only measure of success. There are plenty of businesses that have thrived with this model.

What you measure gets managed as they say, and of course you need to measure stuff in a dental practice too. It is normal to prefer the numbers to be heading in one direction rather than the other, and apply labels to measure and understand how well you convert leads into customers for example. But be careful, and think about not just what success is for you, but also for your patient too. Imagine if the regulator had uncovered a business that balanced its interests with those of the customer too, with some controls and checks that measured the suitability of the service being sold. Now we have a different picture, a happy regulator where the focus is upon doing the right thing for the business and for the customer.

It’s not just about measuring more things, we need to measure better things.

 

*fca.org.uk

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