Having trouble watching this video? Click here.
Patient Attraction Episode 1240
– I’m Colin Receveur, CEO of SmartBox.
– Thanks for watching the Patient Attraction Podcast™.
– There are more dentists practicing now than at any other time in U.S. history.
– Given that there are numerous areas of unmet need, this next statement might sound strange.
– But dental practices are a glut on the market.
– No, seriously – the sheer number of private, group, and corporate practices has changed the dynamics of selling a dental practice.
– Back in the day, the number of available practices was far lower, so sale prices were much higher.
– Today, it’s common for practices to sell for 70 percent or less of earnings.
– Your $3 million practice is worth maybe $2.1 million at sale.
– That probably isn’t the kind of retirement you planned.
– So if earnings aren’t the key to a fulfilling retirement anymore, what is?
– It’s making more money now and investing for your retirement.
– You might be thinking, I’m already slammed with patients and practically on roller skates rushing between rooms.
– How am I supposed to make more money than I’m making now?
– There’s a 2-word answer to that question: better patients.
– Better patients make up at least 20 to 30 percent of almost every market.
– These are prospects who have the discretionary income to pay more for the right dentist.
– They represent much higher lifetime value to your practice than what you’re getting now.
– With better patients, you can work less, earn more, fund your retirement, and enjoy life while you’re getting there.
– Does that sound too good to be true?
– Not according to Dr. Sean Hanson of Salem, Oregon.
– He said, “I will be able to spend more time away from the office, and that’s really my biggest thing.
– “Ultimately, I can go and take a week vacation with my kids and take them to Europe or go somewhere farther away than just California.
– “That is ultimately the goal: that I’m not spending my 40s and 50s slaving away doing dentistry.”
– Dr. Hanson is positioned to enjoy the day-to-day practice and getting himself set for retirement because he partnered with SmartBox.
– SmartBox provides a steady stream of better patients so our dentists can focus on doing the dentistry.
– If you’d like to enjoy life as well as the practice of dentistry while preparing for a very comfortable retirement, here’s your first step.
– Go to smartboxdental.com and reserve your free, no-obligation Practice Discovery Session™.
– We’ll conduct a 25-minute phone call with you.
– We’ll take the results from that call to create your completely personalized Patient Attraction Roadmap™.
– The free, no-obligation Roadmap will give you recommendations for thriving in spite of the competition in your market.
– It’s yours to use however you wish.
– The time to take action to secure your retirement is now.
– Don’t gamble on selling your practice to fund your retirement.
– Put your practice on a better-patient footing with SmartBox.
– Join me for our next podcast.
– Until then, keep moving forward.