Setting SMART Goals for the Practice

As many of us move into the New Year, we set resolutions. Many times these are grand statements to be a better person, lose weight or spend more time with family. As business owners, many dentists do the same thing.  Your goal may be to move away from that PPO or grow the practice so you can bring on an associate. Whatever it is you will need the help of your dental team to help you accomplish it.  This series of articles is designed to help you create a goal and to give you tools to better align your team behind that goal. First off how do you set a goal for your practice?  I am a big believer in SMART goals for any personal or business situation. My definition of SMART goals are:

Specific

Measurable

Achievable

Reasonable

Time bound

Suggestions for Setting SMART Goals

For example, the goal of getting off a particular PPO that has cut your reimbursement in a year meets this definition but getting off all insurance in 90 days may not be. The other suggestion I make to business owners trying to make a change with SMART goals is to limit themselves to one or two big goals for the year.  There is a lot that needs to be done to achieve one ambitious goal while still maintaining what you have done the year before. By narrowing your focus, you stand a much better chance of getting it all done. In addition, unlike many personal goals, you are going to have to depend on the work of others to bring your practice to the place you envision with these SMART goals.  By fine-tuning your focus, you are able to help keep your staff’s eye on the prize and your likelihood of getting the results you desire goes up.  In my next article, I will discuss strategies to motivate your staff and hold them accountable. Adam McWethy, MA-HRIR, SPHR, is the Director of Human Resources and Faculty at Spear Education.