Like any other non-demographic group, dentists have varied expectations of what they want to achieve in their profession. Providing good care for their patients is probably the only universal.
Otherwise, in no particular order, dentists want to:
- Make a good life for themselves and their families
- Achieve total domination of their market
- Expand to multiple locations and add associates
- Take on more challenging and rewarding cases
- Evolve their general practice to a specialty practice
- Increase practice valuation with an eye toward eventual sale
- Work less, but earn more
- Offer more charitable treatment
Those are all good and laudable goals, but they all have one thing in common: you’ll need money to achieve any one of them. You can make money treating low-value patients, but you’ll work yourself and your team half to death in the process.
What You Need To Grow Your Practice
There are five key metrics that are the true drivers of dental practice growth. Those metrics are:
- Calls Answered
- New patients Appointed
- Scheduled appointments Attended
- Treatment Accepted
- Average case value
Those are the 5 A’s that determine how well your practice grows. Even modest, 10-15 percent improvement in each of the 5 A’s can increase your top-line revenue tremendously.
More calls Answered (and most dental practices only answer 70 percent or so) mean more opportunities to Appoint more qualified new patients. Ensuring the more of those patients Attend their appointments provides more opportunities to present your case solutions which will drive your Accept rate. And greater case acceptance by patients other than one-and-dones will increase your Average case value.
The combination of a 15 percent increase in cases accepted drives a 20 percent increase in case value. Most importantly, the result is a 158 percent increase in revenue.
And all that’s required is for you and your team to do what you already do, but better.
We’re All About Better
SmartBox has created our online, on-demand, video-driven Success Academy curriculum to help dental practices drive the 5 A’s. The comprehensive curriculum covers every aspect of helping you and your team cohere as a focused unit to achieve remarkable practice growth.
However, Success Academy is only available to SmartBox dentists. So why tell you about it? It’s simple – almost any competent marketing company can get your phone ringing with new patients. But what kind of patients?
If your case solutions are overwhelmingly a crown, an extraction, or maybe minor cosmetic, your practice growth will be slow. But SmartBox helps dentists attract the patients they want, the ones who pay, stay, and refer.
Those are the patients that will grow your practice… if you answer their calls, appoint them, get them to show up, and get their acceptance of your case solutions.
Growth-minded dentists will take advantage of every opportunity to achieve the results they want, and only SmartBox will cover both ends of the “spectrum,” so to speak.
Discover what SmartBox can do for your practice’s growth. Schedule a Practice Growth Call.