HAVE YOU BECOME “COMFORTABLY NUMB”?

September 15, 2019
*This page may contain affiliate links. If you purchase from these links we may receive a commission at no extra cost to you.

The title of one of my favorite songs by Pink Floyd, “Comfortably Numb” describes the state of mind of many dentists.  They have acclimated to their status quo, become used to a “normal” that might blind them from outside threats and changes.

PPS recently had a front row seat witnessing such an implosion.  Doctor “S” had a generalpractice and enjoyed a worldwide reputation for  certain “NICHE” treatments.  People travelled from near and far to be cared for by Dr. “S”.  

Dr. “S” suddenly and unexpectedly passed away.  Even though he was in his 70’s and even though he had an associate, he failed to plan for a transition.

The result was that his wife was left with a rapidly devaluating asset.   9 months later, the associate has left and the practice is unsold.

I was asked what the value of that practice is now.  Fortunately, the real estate that the practice occupies is quite valuable.  But the practice?   While it was once worth 7 figures, it is now worth nearly ZERO, other than the value of the equipment.

Complacency can be a fatal disease for businesses.

Our world is changing and the rate fo change is exponential.  Businesses like AMAZON, GOOGLE, UBER, AirBnB and so many others were unthinkable a decade or more ago.  

Dentistry is not immune to such change.   And those who think “my business is different” are fooling themselves.   Their “comfortably numb” attitude could be their undoing.

PPS has also seen practices get “Blindsided” by corporate encroachment into their market.  We’ve seen Doctors dependent on too few referral sources see one or two of their main sources dry up resulting in severely diminished new patient flow.

The bottom line is that YOUR bottom line is not something to be taken for granted.  Being “Comfortably Numb” may be a great song to listen to but not a great state of mind for any business.

If you stop paying attention to what’s happening around you, you could be blindsided too.

YOUR PRACTICE IS AN ASSET.  If treated properly, it can be a growing, valuable and even liquid one.  If ignored, it could disappear.

Ignorance or Complacency is NOT BLISS.  Ignore your business and it just might just disappear.

Want to look at YOUR business from a “STRATEGIC” perspective?

Contact PPS at info@practiceperfectsystems.com

We can help open your eyes to both opportunities and threats, while showing you ways to capitalize on the former and help prevent the latter.

Michael, Laurie and the PPS team

Practice Success Insights

Sign up to receive insights into building a successful practice via email with the free Practice Perfect Pearls Newsletter.
Image
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.

Book a FreeStrategy Session

Latest Articles

How to Stop Cancellations... without spending more.

Learn how successful practices ensure their appointment slots are filled... and their patients keep coming back!

GET THE FREE GUIDE

The Proven Way to
Reboot Your Practice...

Increase profitability, decrease stress and achieve your goals with proven ways to ensure your practice thrives

GET THE FREE GUIDE

FREE BOOK:
From Hello to Hugs

Get the sensational book on how to turn callers into raving fans. A guide to making MORE from LESS in your dental practice.

GET THE FREE BOOK

Join Michael LIVE for the FREE Monthly Coffee With the Coach Webinar

Invite your entire team and get expert advice from an industry expert on a new, timely topic every month that you can implement in your practice right away. 

SAVE YOUR SPOT