Having trouble watching this video? Click here.
Patient Attraction Episode 1212
– I’m Colin Receveur, founder and CEO of SmartBox.
– Thanks for watching the Patient Attraction Podcast™.
– As of February 2017, the ADA estimated that roughly 8 percent of dental practices in the U.S. were aligned with a dental service organization.
– Or a dental support organization – the terms are used interchangeably.
– Regardless, roughly one in 12 practices nationwide are aligned with some form of corporate dentistry structure.
– That may not sound like much, but corporate dental practices represent a trend that’s catching fire.
– I mentioned that Pacific Dental Services plans to add at least 50 more practices a year.
– Over 8 years, that would represent 40 percent growth for that company.
– Heartland Dental is another chain that’s on fire with over 1,000 dentists.
– Then there’s Aspen Dental with over 600 offices, and – well, you get the idea.
– Those practices enjoy discounts from consolidated purchasing services, state-of-the-art practice management services, and a host of other benefits.
– That’s tough for a truly independent practice to compete against.
– When you consider that the Association of Dental Support Organizations alone has 50-plus members right now, you’re talking serious numbers of dental practices.
– So the odds are pretty good that you have one or more corporate practices in your market.
– You might be thinking that you should join a chain.
– Reports differ on whether dentists who join a corporate dental chain are truly independent in their clinical decision-making.
– Reports also differ on whether they’re under pressure to maximize profits.
– I know quite a few dentist entrepreneurs who simply hate the idea of being told what to do for their patients.
– If you’re one of them, you need a strategy to help you succeed against dentists who enjoy economies of scale that you can’t hope to match.
– Let’s face it – practices that spend less can afford to cut prices.
– If you don’t have those economies, you can’t afford to cut prices to the same degree.
– But why should you compete where corporate practices are strong?
– That makes no sense.
– Instead of focusing on price in your marketing, you need to be focusing on the segment of your market that doesn’t see price as a motivator.
– In just about every market, that segment is around 30 percent of your prospects.
– These are people who wouldn’t be caught dead in an Aspen Dental office.
– These are people who want to establish an ongoing relationship with the right dentist and dental practice.
– They’re also people who are able and willing to pay more.
– You’ll need to retool your marketing if you’re going to attract those better patients.
– Because the right dentist for your better prospects is someone they like, relate to, and trust.
– It’s someone they regard as the dental expert to solve their dental problems.
– Establishing yourself as the right dentist for better prospects is a long-term process.
– And it’s a lot of work, frankly.
– You’ll almost certainly need to revamp your website, your social media, and your blog.
– You’ll need email content streams for each specific condition and a way to manage your drip email marketing effectively.
– You might need to update your office and add some comfort amenities.
– People who are willing to pay more expect more.
– Like I said, attracting those better patients is a lot of work.
– Of course, you could outsource that marketing to an innovative, full-service dental marketing firm with a proven track record of success.
– That’s what Dr. Raleigh Pioch did when he partnered with SmartBox.
– Here’s what he said about his experience.
– “SmartBox helped me take my practice from $800K to $3.2 million in just 6 years.
– “We couldn’t stop the growth.”
– Discover what SmartBox can do for your dental practice.
– Visit smartboxdental.com and click on the “Get Started” button to reserve your free, no-obligation Practice Discovery Session™.
– Invest 25 minutes of your time to discover how you can get more patients, more profits, and more freedom.
– You can join the 550 dentists on 3 continents who enjoy the benefits of working with SmartBox.
– And you can stop worrying about what corporate practices are doing.
– Join me for our next podcast.
– Until then, keep moving forward.