What SmartBox is hearing from dentists across the United States is that their biggest business worry is the possibility of having to shut down again. That possibility can’t be dismissed out of hand, but as of this writing, the likelihood of another broad shutdown – regional or national – seems to have diminished.
However, all dentistry is local; it’s not possible to calculate the odds of your state experiencing a severe enough rise in new cases, hospitalizations, and/or deaths that state or local government would reinstate shelter in place orders. If your area experiences a significant flare-up of cases, a shutdown might be in the offing.
But let’s run with this question: what if there isn’t another shutdown? Are you going to be content with reduced case numbers (due to mandates) and roughly 75 percent, if that, of your previous revenue?
Or will you look for ways to ethically maximize the value to your practice of every new patient?
Let’s Lower The Volume, Raise The Quality
If your practice is in one of the states that allows a full load of patients, count your blessings. But you’re almost certainly not seeing as many patients as you were before, what with PPE changes and disinfection requirements between appointments.
You’re probably more tired at the end of the day, too.
If the volume of patients is limited, your income is limited. You could extend hours of service or even add another work day. But that solution is hard on you and on your team.
If you’re a GP, your average case value might be somewhere in the mid-to-high hundreds of dollars. It might be lower, or even significantly lower. So that begs the question: what would your revenue look like if you saw 10-15 percent more patients with an average case value of $1500-1800 or more?
You can run the numbers for your practice, and you’ll almost certainly be most pleasantly surprised. And if you consider that adding more higher-value patients will let you earn more even with reduced capacity, the idea looks better yet.
The Volume Model Of Dentistry Is Dead
Many dentists have been pushed into the low-value, high volume model of practice by dental insurers. Some dentists adopted that model from the outset as they didn’t know there was another one.
However, few dentists have the skill set necessary to attract those higher-value patients. And they are out there; in almost any given market, between 20 and 40 percent of prospects have the ability and willingness to go fee for service for the dentistry they want from the dentist they want.
Getting more, high-value patients for dentists is something SmartBox has done for more than a decade. If you’d like to learn more about how we accomplish that, and how we help dentists make their practices run smoother and earn more, have a look around our website at SmartBoxDental.com.
SmartBox employs the best minds in dentistry to help you grow your practice. Our Practice Growth System™ is proven to help dentists in every market area across the country achieve predictable year-over-year growth.