In the midst of an evolving dental industry, maintaining growth while navigating various challenges requires strategic foresight and adaptive leadership. Recently, Amol Nirgudkar, CEO of Patient Prism, interviewed Steve Bilt, CEO of Smile Brands and founder of the Smiles for Everyone Foundation, to discuss the current state of the industry, the impact of technology, and strategies for sustaining growth. Steve’s insights provide a comprehensive look at how Smile Brands is addressing the complexities of today’s dental landscape.
Navigating Growth Slowdowns
Steve Bilt acknowledged the current slowdown in growth within the dental industry, attributing it to a perfect storm of factors such as minimal price control, labor inflation, and increased costs of debt. He emphasized the importance of accepting and understanding these challenges to navigate them effectively. Additionally, changes in workforce behavior post-COVID, such as doctors valuing work-life balance more, have also impacted growth dynamics.
Managing Doctor Days and Patient Demand
One significant issue discussed was the reduction in doctor days, not necessarily due to retention or hiring issues, but because of subtle changes in work habits. Steve explained that even minor reductions in working days can significantly affect overall productivity. Addressing these issues involves finding a win-win solution for doctors and ensuring the office can operate efficiently to meet patient demand.
Embracing Technology Wisely
While technology and AI are becoming central in dentistry, Steve warned against viewing them as mere shiny objects. He highlighted the importance of integrating technology in ways that enhance human-to-human interactions and improve patient experiences. Smile Brands is adopting AI in various capacities, from RCM to patient diagnostics, but always with a focus on supporting the core mission of improving patient care and operational efficiency.
The Power of Compounding Improvements
Steve discussed the concept of making small, incremental improvements across various aspects of the patient journey. He believes that even minor enhancements, when compounded, can lead to significant growth. This approach requires maintaining a stable base of operations and ensuring continuous improvement in patient care, staff training, and operational processes.
Fostering a Strong Culture
A strong organizational culture is critical to success, especially in challenging times. Steve emphasized the importance of returning to Smile Brands’ roots: focusing on getting closer to their internal team. In the past, the company was known for this people-first approach, but as new technology and processes emerged, some drift occurred. Now, Steve is refocusing efforts to strengthen internal alignment, ensuring that the team is engaged and fully integrated into the company’s mission. By nurturing this connection, Smile Brands ensures that technology serves its primary purpose: improving patient care and enhancing the human-to-human experience. This cultural reset fosters stability and drives sustainable growth.
Conclusion
Steve Bilt’s leadership at Smile Brands showcases the importance of strategic thinking, technological integration, and a strong organizational culture in navigating the complexities of the dental industry. By addressing challenges head-on and focusing on incremental improvements, Smile Brands continues to thrive and set a standard for excellence in dental support organizations.
