Are You Prepared?
July 30, 2024
The Blue Screen Of Death resulted in a worldwide IT crash. Its impact resulted in an estimated $1.9 billion loss in the healthcare industry alone. Delta Airlines lost over a half a billion dollars.
The value of having a “plan B” cannot be underestimated.
What’s your “Plan B”?
Hopefully, you were spared the impact of CrowdStrike’s glitch. But, what about another economic glitch?
Note how the increase in 2023’s non-mortgage consumer debt alone was 50%!
The previous record was a jump of 14.1% in 2000 – a year before the 2001 recession, according to the exclusive Kobeissi Letter.
None of the Presidential candidates are talking about this because they all know there’s nothing they can do. The die has been cast; the damage done. It’s just a matter of when, not if.
And what about this recent headline:
“CMS proposes 2.9% cut to physician pay for 2025.”
Think there might be a chance for a recession or some other economic slowdown?
When the last major one occurred in 2007-9, dental visits declined by 38.4%.
Can you weather such a decline?
Now is the time to act! What will you do when the proverbial S£¥T hits the fan?
Prepare your PLAN B now by knowing your numbers.
I realize that most docs don’t know these mission-critical KPI’s (key production indicators). But, if they did, and could increase each by only 2%, it could protect the practice from the loss of revenue when the poop hits the fan. A mere 2% increase in each would result in an average practice increasing its revenue by approximately 64%!
Best of all, the increase is nearly all profit, because most of the costs remain the same. How does doubling your profit sound?
Note that of all the items listed above, the dentist is primarily involved in perhaps only 1 of them, the treatment acceptance rate. And even there, the impact of the team on a patient’s acceptance shouldn’t be underestimated.
That’s why I started The Liberated Practice program. It’s a way to educate, inspire and influence your team to help you improve your practice’s critical KPI’s. Dentistry is a team sport. Why not empower your team to help you win?
Every month, we have 2 webinars on the timeliest topics impacting dental practice. Members can go back to 3 years of archived webinars, blogs, newsletters and other resources aimed at helping improve a practice’s KPI’s.
Every week they’ll get a newsletter about how to deliver exceptional patient experiences, a critical part of case acceptance and patient retention.
Because I believe that Pan B is more critical now than ever, I will be tackling each one of why above issues during the September thru December Coffee With The Coach webinars.
Sign up now for The Liberated Practice, pay for a year’s membership and get access to over $12,000 of materials and my new eBook, “In Pursuit of Implementation; The Art and Science of turning an idea into reality.” And, during the summer, you can use the code “Liberated24” and get $500 off the annual membership.
For less than your daily cup of coffee, you can protect yourself. Though its summer now, winter is inevitably coming. Now is the time to prepare and shield yourself, your team and your family from any economic challenge.
Don’t wait until you get the Blue Screen of Death. By then, it will be too late.
To your financial security,
Michael
Practice Success Insights

Dr. Michael Goldberg is one of the leading educators on dental practice management in the United States.
Michael ran and sold a prestigious group practice in Manhattan and has been on Faculty at Columbia University and New York-Presbyterian Medical Center for 30 years including Director of the GPR program and Director of the course on Practice Management.
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