Ask most “experts” in the field, and they’ll tell you that the way to grow your practice revenue is to stay open more days and more hours; offer more services; stay competitive on price; accept every dental insurance under the sun; and see a lot more patients.
SmartBox would respectfully disagree. That’s one way to grow your practice, and by no means the best one. There are some flaws in the “traditional” practice growth model, and they begin with the fact that dental practices aren’t factories.
You Can’t Automate Dentistry
Automated processes typically scale up easily. Add another line, some relatively unskilled people to work that line, and you can produce more of whatever you’re making.
Dentistry is nothing like that.
Dentistry requires skilled, trained, compassionate human beings to work. Those people – including the dentist – can only work so many hours in a day and so many days a week before exhaustion sets in. With exhaustion comes disillusionment, low motivation, and a high likelihood of mistakes.
The human factor is the limiting factor in dentistry, but it’s also the factor that provides the greatest opportunity.
Back to the factory for a moment. Any production line can be fine-tuned to produce the maximum amount of product within the limits of the machinery. What that line can’t do is to make something more valuable out of the materials at hand. You and your team can do far better… without working yourselves half to death.
Mining The “Gold” In Your New Patient Funnel
If you’ve ever seen the TV series “Gold Rush,” you know that gold miners run as much pay dirt as they can through their wash plant as possible. They have to “dial in” the perfect amount of pay dirt versus the speed of the plant, the water flow that removes the dirt. and the “sluice boxes” that trap the gold flakes or nuggets.
Run the plant too fast, and gold washes away and is lost. Run it too slowly, and those miners aren’t making all the money they could be.
You can dial in your new patient funnel, and it begins with answering the phone more frequently and effectively. SmartBox has hard data to show that dental practices routinely fail to answer 20-30 percent or more of incoming calls. Your front office team is undoubtedly doing the best it can. However, if there are two team members to answer the phone, and there are six or eight incoming calls, something’s gotta give.
That 20-30 percent figure doesn’t include the new patients who are placed on hold and then give up. That “gold” is lost to you.
That figure also doesn’t include the qualified new patients who aren’t appointed.
The Only Way To Reliably Grow Your Practice Revenue
SmartBox has created an online, on-demand, video-driven curriculum that covers every aspect of helping you and your team cohere as a focused unit to achieve remarkable practice growth.
There’s only one way to reliably increase your practice revenue, and that’s to improve your performance on the 5 A’s – Answer, Appoint, Attend, Accept, and Average. Those are the metrics that directly impact your bottom line.
The 5 A’s work together to drive your profits. More calls answered equals more new patient opportunities. More patients appointed means more patients in your chairs. More appointments attended mean higher case acceptance. And higher case acceptance drives both your hygiene and restorative average case value.
That’s the formula for lasting success and maximum practice revenue growth. SmartBox’s Success Academy will help you implement it in your practice.