There ARE Better Dental Patients In Your Market

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Patient Attraction Episode 1256

– Thanks for watching the Patient Attraction Podcast™.

– I’m Colin Receveur, CEO of SmartBox.

– One of SmartBox’s employees works remotely from Evansville, Indiana, about 120 miles from SmartBox.

– 2 of my sisters-in-law went to school at University of Southern Indiana (USI) in Evansville.

– It’s a city of about 120 thousand people, and the average household income is well below the Indiana state average.

– You probably wouldn’t think there’d be many better dental patients in that market.

– You’d be wrong.

– Using city-data.com, I found these numbers from 2016, the most recent available.

– Evansville’s median household income in 2016 was about $39 thousand compared to the state average of $52 thousand.

– Doesn’t sound very promising, does it?

– To be fair, the cost of living is also lower than the state average.

– But take a slightly deeper dive into the numbers, and the results are surprising.

– Looking just at household incomes over $75 thousand, roughly twice the median, here’s the breakdown.

– 5,270 households have income between $75 thousand and $100 thousand.

– That’s 10.3 percent of households.

– 2,462 households, or 4.8 percent, have income between $100K and $125K.

– And 2,471 households, or 4.8 percent, have incomes over $125 K.

– Put those numbers together for this small city, and about 20 percent of households – around 10,000 – have more than double the median income.

– Evansville probably represents the extreme lower end of the percentage of better patients. 

– For instance, using 2016 figures, Cincinnati is 24.1 percent over $75K. 

– Nashville, Tennessee, is 34.7 percent.

– Waco, Texas, is 23.2 percent.

– And Salem, Oregon, is 30.5 percent.

– If your market is in or near a decent-sized city, you might be able to pull up the same city-data.com information for your area.

– Here are the patients-per-dentist numbers for Evansville, Cincinnati, and Nashville.

– Evansville is 1470 PPD, which is great, while Cincy is 1694 and Nashville is 1388 PPD.

– Those are all good to great numbers.

– But let’s take Evansville as a worst-case scenario for better patients.

– I’ll arbitrarily set the average household size at 2.5 persons in the demos we’re talking about.

– That’s 25,000 better patients, and getting just 7 percent is another 1750 patients.

– What would you do with 1750 loyal patients who don’t rely much on what dental insurance will or won’t cover? …

– … Who represent far higher lifetime value to your practice? …

– … Who have the ability and willingness to pay more for the right dentist? …

– … Who stay, pay, and refer?

– The odds are that you would work less, earn more, and enjoy life again.

– You could handle more of the cases you love instead of thousands of routine drill-and-fills.

– You could take extended vacations with the family – maybe even retire early, if you want.

– However, you won’t get many of those better patients by advertising low price or insurance acceptance.

– SmartBox will get them for you.

– We provide a steady stream of better patients so our doctors can focus on actually doing the dentistry … which is how dentists make money, after all.

– That’s why we say that the road to dental practice success runs through SmartBox.

Visit smartboxdental.com and reserve your no-cost, no-obligation Practice Discovery Session™.

– Invest 25 minutes of your time in a phone call that shows you the path to success.

– After the session, you’ll receive your free Patient Attraction Roadmap™ as well. 

– It’s yours to use however you wish – there’s no obligation.

– Significant numbers of better patients are in your market.

– Count on SmartBox to get them for you.

– Join me for our next podcast.

– Until then, keep moving forward.