Cliff's Notes

The Business of Dentistry

Surviving The Dental Health Industry “Learn Advanced Cosmetics!”

The rules have changed for the average dental office in the northeastern part of the country. The advancement of technology in the public sector is introducing the new patient base to high tech dentistry. Millennials are nearing their 40’s and Gen Z is moving into their 20’s. Large offices are advertising on TV and radio, insurance reimbursement rates are dropping, and the cost of doing business is rising in all areas. The U.S. Department of Health confirms that more dentistry is being done today than ever before but where? Question: Why should a patient come to your office and not the one down the street when you both participate with the same insurance?

Why … Did you ever look at your practice through a patient’s eyes? Why would you want to sit in your chair for an exam or procedure. When you go for healthcare what are you looking for. Take relationships out of the equation, they come later, focus on the environment you are in. Think about what the new patient base expects and what you can deliver today, you may just come up short.

What can you offer today … The magic words are “Perception & Cosmetics”. You are a real good dentist (Oral Healthcare Professional), you use top quality materials and stay current on new procedures and techniques but the new patient doesn’t know that. The perception you offer the new patient is the difference between you and the office down the street. Its not hard, its just an approach. Give the patient more than they expect, deliver an environment. Question: How advanced are your cosmetic skills?

Cosmetics … What type of dental practice do you have? Does it gain the most revenue from hygiene, crown & bridge, cosmetics, etc.? With insurance reimbursements trending down those everyday nuts & bolts procedures, if managed correctly, should cover your overhead but they won’t get you the gold ring. Today’s dental practice must provide a wide range of cosmetic options. We see it everyday on TV and hear it on the radio, Clear Aligners, One Day Smile, Smile Direct, etc. Every dental practice should be following the in the wake of this marketing jet stream and have all those same elective offerings available. Every elective procedure is added revenue. Look at every elective procedure as a profit center.

Profit Centers … Most of us do what we do for one of three reasons, Fortune, Glory or the Betterment of Humanity. Fortune is always first and it facilitates the rest. Everything in your practice must be looked at as a profit center. Sometimes there will be a negative but how that negative effects other profit centers may help increase their revenue generating abilities. Hygiene may show a negative but how does it relate to the revenue generated by Cosmetic Dentistry ? The patient believes the hygienist not you.

Cosmetic Dentistry … As a dental professional you learned how to create things. You construct and repair. There is an artistry about what you do and you love it. Elective procedures provide a “creative” opportunity and are usually private pay. That’s where the money is and you can offer money saving options, such as Care Credit, to the patient to help close treatment plans. Do you do clear aligners? There are several excellent options that are less expensive than advertised brands. New materials that give the patient a 3-5 year chairside crown or veneer and implementing facial fillers such as Botox are high profit centers that get patients talking and generate personal referrals.

Serving the Change … You can’t fight change, it is going to happen. It’s happening around us every single day. Separate yourself from the crowd and show off your talent. Please feel free to contact me at any time with any questions or concerns.

 

December 29, 2019 Posted by | Uncategorized | Leave a comment