Are there really laws that govern practice growth? In 24 years of helping dental practices grow, we have realized that all consistently growing practices follow a number of proven laws. We will share four of these laws that we believe, if followed, will keep your practice on the top side of the growth curve.
We make it our expectation that every practice we serve grows by a minimum of 7% annually. That may not seem like a significant number, but that growth rate enables our clients’ practices to double every 10 years. In other words, if 20 years ago you had a $300,000 practice, at this realistic rate it grew to a $600,000 practice 10 years later and is now a $1.2 million practice with one doctor and no associates.We find that to be a reasonable and attainable expectation for every dental practice. These laws may not double your revenue in 90 days, but you will be on course for long-term, consistent annual growth.
Source: 4 proven laws for practice profitability | Ken Runkle
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