There will be 3 stages of the COVID-19 crisis. Practices that have reopened will be in which stage?
During the recovery phase and turnaround practices should maximize the following _______________.
A. postcard advertising
C. janitorial expenses
How many months of cash should a practice strive to accumulate?
A. 1 month
B. 60 months
C. 4 months
D. It does not matter
Dental practices should _______________.
A. prepare their schedules for reopening now
B. wait until they are back in the practice to begin reappointing patients
C. market heavily for new patients before reopening the practice
The first 2 months of recovery after a practice reopens will be characterized by _______________.
A. very low production
B. an unhappy team
C. pent-up demand (patients)
The recovery phase will be _______________.
A. short, because practices will return quickly to pre-COVID-19 normality
B. approximately 12 months long, with a return to 80% of pre-COVID-19 average monthly revenue
C. highly profitable, because most practices will grow to higher revenue than pre-COVID-19
In the first few months after reopening, one strategy to increase practice capacity is _______________.
A. expanded hours
B. expand the practice building size
C. cancel all hygiene appointments
According to the presentation, during recovery every practice needs to know _______________.
A. the closing level of the Dow Jones Average
B. the number of patients each competitor has
C. the mean and median salary of general dentists in that market
D. the practice’s break-even point
Many patients returning to the practice after the coronavirus crisis will _______________.
A. accept most recommended treatment
B. have COVID-19 infection
C. have new insurance coverage
D. face financial challenges
As explained in this presentation, the 80:20 principle states _______________.
A. 80% of results come from 20% of the effort
B. it takes 80 phone calls to schedule 20 patients
C. for every $80 of revenue you should pay out $20 in staff bonuses