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Patient Attraction Episode 1185
Too much of anything isn’t good, and dentists across the country are realizing the truth of that saying. They’re swamped with patients thanks to the economic boom. The problem is that most of those patients don’t represent high value to the practices. Dentists are getting price shoppers, insurance-driven patients, and one-and-dones with little or no loyalty to the practice. There’s a better way to run this railroad, and when we come back, I’ll tell you why getting better patients will put your practice on the right track.
– I’m Colin Receveur, CEO of SmartBox.
– Thanks for watching the Patient Attraction Podcast™.
– Following the Great Recession of 2008, dentists were struggling to keep their chairs filled.
– The massive unemployment caused families to prioritize food, clothing, and shelter over dental care.
– Now, the U.S. is near or at full employment, and the dentistry business is booming.
– And the patients are back with a vengeance.
– However, just because someone is employed and has dental insurance doesn’t mean they have money to spend on dentistry.
– Wages haven’t come close to keeping pace with the increased cost of providing dental care.
– So it’s not surprising that dentists are getting a flood of low-value new patients.
– That’s not to say you can’t make money in this scenario.
– But with dental insurance companies cutting reimbursements, your margins will be thin.
– So you’ll have to see a huge number of patients to compensate.
– That’s happening now – the dentists I talk with say they’re practically on roller skates, flying between rooms to keep up.
– When it comes to long-term success, this is the wrong track.
– It’s too hard on you, your staff, and your equipment.
– It keeps everyone on staff working too long for too hard for too little.
– It doesn’t provide enough return for all your efforts.
– And it keeps you chained to your practice.
– Dr. Michael Abernathy, founder of Summit Practice Solutions, has this to say.
– “If you’re not working towards something that’s going to give you freedom, what in the world are you working towards?
– “I’ll tell you: MORE WORK.
– “There’s a better way. You just need the blueprint to build it.”
– The better way is to get better patients, patients with the ability and willingness to pay more for the right dentist.
– Better patients aren’t overly concerned with low price or insurance coverage.
– They’re generally fee-for-service and more than happy to pay.
– Typically, they’re also very loyal to their chosen dentist, so their lifetime value to your practice is huge.
– However, you won’t get better patients with your current marketing approach.
– You need an integrated system to position you as the only logical choice for the better patients in your market.
– SmartBox works with hundreds of dentists on 3 continents.
– We provide a steady stream of better patients so our doctors can focus on doing the dentistry and more of the dentistry they love to do.
– SmartBox dentists can work less, earn more, and enjoy life again.
– The takeaway is that low price, discounts, or insurance don’t attract better dental patients.
– Shifting your marketing to appeal to the better prospects in your market pays dividends.
– Dr. Thomas Feder of Belleville, Illinois, discovered just that after he became a SmartBox dentist.
– “Our average case value has increased,” Dr. Feder said.
– “People are coming in looking for dentures and implants.
– “The practice is now overwhelming our dental lab.”
– Discover what SmartBox can do for your dental practice.
– Visit smartboxdental.com and reserve your no-cost, no-obligation Practice Discovery Session™.
– 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.
– Better dental patients are the cure for working too hard for too long for too little.
– Join me for our next podcast.
– Until then, keep moving forward.