Hey, I just got finished with my haircut and I was thinking about how doctors need to cut their costs. And I've looked at many, many different P&Ls and I could tell you that it's really hard to cut costs. I mean, most of your expenses are fixed—your overhead consisting of your rent, your utilities, payroll.

It's really hard to cut those things. So looking at them, the most important thing to do is actually focus on growth. Now, unlike my hair, which I can't really grow much, you can grow your business. And the best way to do that is doing these three things:

  1. Patients who haven’t been in there in a while, over the last six or eight months, call 'em up, see how they're doing. If they're still having some issues, get them on the books and get them rescheduled.

  2. Ask your patients who they know, friends and family that could use your services.

  3. Do things like a live webinar for your patients and get them to bring other patients onto this webinar.

Social media, increasing SEO on your website—these kinds of things will really help grow your practice really quickly. And instead of just focusing on every single little nickel and dime, focus on growth.

Now, of course, if you're spending too much money on expenses such as supplies, and that's another big one—if you have more than 45 days’ worth of supplies and inventory in your office, then you need to cut that out. But otherwise, most people need to focus on growth, and that's my tip.

Those are my tips for the day. Stay focused, my friends, and have a great day.