Focus on: the team Everyone on your team could use some extra cash going into and coming out of the holidays, so incentives are especially motivating at this time of year. But they do have to be done right. It is statistically proven that incentives drive behavior, so be sure you're driving the right behaviors. The easiest and most profitable incentives reward people for things within their control-smaller numbers within the practice that ultimately add up to collections. Incentives should be paid only when you improve an existing number, not just maintain or hit the status quo. A great example is for the number of new patients who cross the threshold of the door. 50 Incentives are investments that provide a positive return on investment because the payouts come from new revenue generated. That's why effective incentives are such a win/win for you and your people. Now is when a fun incentive will keep the team focused on business priorities at a time when it's particularly beneficial to them. It will also give them the opportunity to partner with you in not allowing the bottom to fall out of the bottom line in the last few weeks of the year! This is also an excellent time to be honest with yourself about the caliber of your team and replace those who need to go. Is each individual engaged, committed to delivering an outstanding patient experience, and respected by other team members? If someone isn't contributing in positive ways, they're detracting in more negative ways than you probably realize. The labor pool is excellent right now, including a great many hospitality and retail workers who already have a strong customer service attitude. Don't feel bad about making a good business decision just because it's this time of the year; remind yourself that it's not personal, it's what is best for the practice, the team and ultimately your patients. Elements of your fourth-quarter plan should also include setting up for growth next year-which necessarily includes staff training. Paying for first-quarter training now is a tax-deductible investment you can make this year that will provide considerable ROI to your bottom line early next year. NOVEMBER 2020 // orthotown.com OT1120_Geier_New-Year.indd 50 10/27/20 9:09 AMhttp://www.orthotown.com