Why do some dental practices seem to have it all together? Whatever they touch turns to gold. Meanwhile, others are left struggling – especially when a crisis hits, like COVID-19. If nothing else, this pandemic has taught us the value of preparedness.
Running a successful dental practice takes constant work and attentiveness. If you can master a few key elements, your practice will thrive. The consultants at Dental Practice Enhancement are here to tell you what the top 1% of dentists know so you can apply these concepts to your own business.
#1: Have a Clear Vision
Seems simple enough, but a detailed business plan is the first thing you need to make your practice a success. But it’s not enough to say, “I want to be successful”. You need to identify what you’re willing to do to make success happen.
Sometimes dentists realize that they actually don’t want to make a lot of changes. And that’s okay. Just understand that your greatest, truest wants will be your reality. So, identify those desires and commit to achieving them.
#2: Perfect Your Pitch
Increasing case acceptance is one surefire way to become more successful. If you’ve been in dentistry for a while, you’ve probably honed your speech and use it during every consult. Getting patients to say “yes” to treatment is dependent on a few factors. But primarily, it’s about patient education and emotion.
Some individuals don’t want to know they whys and hows. Instead, they want to know how your proposed treatment will improve their health and quality of life. Learn to read and mirror your patients. Speak to them in a language they understand – one that will evoke emotion. Our consultants can show you how.
#3: Build a Solid Marketing Plan
The most successful dentists understand that marketing is not an expense, but rather an investment. Now is a prime time to take advantage of social media marketing. As businesses slowly reopen in the wake of COVID, many people are still working from home, spending more time in front of their screens. Take advantage of this time to connect with your community and share important information.
#4: Maximize Revenue with Hygiene
The hygiene department should ideally be generating about 30% of your total revenue. This may not necessarily be a “secret”, but many practices are not even close to this goal. As a result, hygiene can end up draining your practice instead of being a primary profit generator.
Make sure that you have a proper recall system in place. If at all possible, no hygiene patient should leave your office without scheduling their next visit. Furthermore, it’s important to ensure that periodontal patients are undergoing perio maintenance and scaling and root planing (when necessary), not just prophys. Simply using the correct codes can increase your revenue significantly over time.
#5: Understand Overhead and Adjust Accordingly
Instead of focusing on overhead reduction, set your sights on increasing revenue. Cutting costs will not lead to wealth. Understand that if you double or triple your revenue, your overhead will only go up a fraction. This comprehensive understanding of overhead will help you increase profits substantially over time.
Schedule a Meeting with a Dental Consultant Today
Whether you’re a new practice or you’ve been in business for decades, now is an excellent time to re-evaluate your strategies and adjust as necessary. The consultants at Dental Practice Enhancement can help you determine your unique practice goals and build a plan tailored to those needs. Call us at (833) DPE-FOR-U for more information.