Cliff's Notes

The Business of Dentistry

The Bus Is Leaving The Station

honeymooners

A lot of people that read this this week’s rant will have no idea who is in this picture but it is a seen from one of the most iconic TV shows ever. It’s Jackie Gleason & the Honeymooners. On October 5, 1951 the first episode aired and history was made in a time when more than one half of the country didn’t have a TV set but everyone wanted one. Ralph was pretty cheap and this episode was a classic.

In this seen Alice is complaining about not having a TV and Ralph didn’t want to spend the money so to justify his decision he yells out “I’m waiting for 3D TV”, that was in 1951. What are you waiting for.

Dental School … Do you have a digital radiography system? If there was a time that you used x-ray film you can appreciate the technology and think about all those years you didn’t have it. Today, most dentists under 40 don’t know how to use x-ray film and in the very near future (5 years) new dentists won’t know how to use impression material. Can you see where this is going? Dental impression scanners are NOT bells & whistles, they are the tools you will need to stay relevant.

Staying Relevant … Last week a well established dentist pulled me aside and told me that a new patient that came by way of referral was told that it was a great office but not to expect any bells & whistles. That was concerning to the doc and with good reason. What are your patients seeing and what are they thinking? Look around at what is evolving, technology is rolling like a freight train and if you don’t jump on-board you will be left behind. But just don’t jump!

Don’t Just Jump … So many offices spend a lot of money on dental impression scanners and don’t use them? The scanner your friend bought may work efficiently in their office but it may not fit the way you work. Step one is to consult with sellers that represent multiple brands this way you will be getting a more bi-partisan view. Step 2 is to demo several brands to see what feels best in your hands and integrates seamlessly with your current network. There is no “one size fits all”. Also, the industry landscape is changing with more dental labs accepting images and Invisalign’s patent on clear dental aligners expiring late in late 2017. And, be aware that Generation Z is on the way.

Generation Z … One fifth of today’s US population will change the way we see the world. The 20 year old that was in for a hygiene appointment is the front line of generation Z (born after 1996). Now,  you have to redefine your marketing program to relate to the mindset of this new patient base? Marketing 101, packaging is 95% of the sale. We all know Millennial’s look at things different than their parents did and their has been plenty of marketing research to guide organized programs. However, Generation Z is different. Their word is technology, virtual reality, instant information , and very soon artificial intelligence. What will your practice offer because today’s “WOW Factor” will be the expected standard tomorrow.

Tomorrow comes fast … Planning for the future of your dental practice is very scary. It requires dedication and a financial commitment, both of which are usually much more than a currently successful dental practice owner is willing to invest. But, as Albert Einstein simply stated “energy in motion tends to stay in motion, energy at rest tends to stay at rest”. The motion of your business must continue to move forward or it will stagnate and fade away. Maintain the quality of your investment.

Your investment … You are so afraid of spending money that you will justify the status quo. Ralph did, he wanted to wait for 3D TV. So many dentists tell me that they are waiting for the next upgrade but you know what, they will always be waiting. Your investment in school and business is too important to not be managed correctly. The bus left the station but you can still catch it if you want to be part of the future. The value of your practice depends on it. Please feel free to contact me at any time with any questions or concerns.

 

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August 19, 2018 Posted by | Uncategorized | Leave a comment