Episode 664

Are You Overstaffed or Understaffed? Where is the Sweet Spot?

Host: Gary Takacs | Published Date: October 2, 2024 | Listening Time: 0:44:16

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Are You Overstaffed or Understaffed? Where is the Sweet Spot? In this episode, we’re tackling a question many dentists struggle with: how do you know if your practice is overstaffed or understaffed? Finding that sweet spot is tougher than ever, especially after COVID, when practice expenses shot up and revenues haven’t quite kept pace.

We’ll dive into how inflation and rising interest rates have tightened everyone’s budgets, and why hygiene wages, in particular, have skyrocketed. Too much staff can drain your profits, but too few can impact patient care—and in today’s world of instant Google Reviews, a slip in patient experience can spread fast. Join us as we break down the challenge of getting staffing levels just right, without hurting your bottom line or the experience you want to provide your patients.

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    Timestamps

    • 00:00:27 – Introduction
    • 00:01:06 – Announcements
    • 00:03:20 – Marketing Tip by Ryan Davies on “How can I use Reciprocity to get more Google Reviews?”

    CIA Segment

    • 00:08:09 – Are You Overstaffed or Understaffed? Where is the Sweet Spot?
    • 00:11:11 – Five expenses that make up the majority of your total expenses
    • 00:12:13 – Team compensation
    • 00:15:11 – The culprit for PPO practices
    • 00:22:13 – What kind of practice do you have?

    Q&A Segment

    • 00:25:56Q1 – We’ve been struggling with high turnover lately, and I’m worried we’re understaffed. What are some warning signs that my team might be stretched too thin?
    • 00:30:00Q2 – What’s the best way to use payroll as a percentage of revenue to guide my recruitment decisions? I want to make sure I’m financially stable without overworking my team.
    • 00:32:06Q3 – How can I improve my practice’s team culture to help retain team members and reduce the risk of becoming either overstaffed or understaffed? I want to create an environment where my team feels valued and engaged.
    • 00:38:54Q4 – How can I determine when I need an additional admin team member? Some days I feel   we are staffed appropriately and other days I think we need an additional admin team member. Your thoughts?

    Resources

    Grow your practice with high-quality patients using high-quality marketing tools.

    More About EKWA Marketing!

    Thriving Dentist Coaching
    Learn how to create a thriving dental practice step by step by joining the Thriving Dentist Coaching sessions.

    More Information On Coaching!


    Gary Takacs

    Gary Takacs Gary became a successful practice owner by purchasing a fixer-upper practice and developing it into a world-class dental practice. He is passionate about sharing his hard-earned insights and experiences with dental practices across the globe.

    As a dental practice coach, Gary provides guidance for dental professionals on how to create a healthier practice style that lets them deliver excellent patient care while reducing depending on insurance.

    More importantly, Gary’s insights are not just based on theory – as a co-owner of a dental practice, he has first-hand experience in making this transformation from a high-volume and low-fee insurance model to a fee-for-service approach that is more sustainable and promotes a patient-centric and financially healthy dental practice, and he is dedicated to sharing this knowledge with other dental practitioners via the popular Thriving Dentist Show!
    Connect with Gary Takacs on Linkedin
    Podcast Assistance by Jodey Smith, Rodecaster Expert