- According to an article in the USA Today, dental spending will continue to head south into 2021.
- Now, that's not great news for dentists, but there is a solution.
- A recent USA Today article cited ADA figures revenue declined 38% in 2020.
- And they're predicting another 20% decline in 2021.
- Now, 15 to 20% of dental patients won't book appointments, until there's a vaccine. - That matches the current 80% of patient volume that most dentists are reporting.
- And if the volume is going to continue down for an extended period, dentists need a way to make up for that missing 20% of volume, so that you can get your numbers back to where they need to be.
- Now getting more patients to say, yes, to more of your presented treatment and higher value cases is going to be crucial.
- One principle, the 80/20 rule as you may be more familiar with it. If 80% of your patients are showing up, you need to figure out how to close the last 20%.
- And you're going to find conversely that 20% of your patients are producing a disproportionately large amounts of your revenue.
- Now, doing this requires that your patients have a high level of trust in you and in your practice. And that process begins with the first contact.
- Look at how your phones are answered, how many calls are being missed, how many new patients are being appointed, and then check out your new patient attendance rate. - How many holes do you have in your schedule?
- If you're going to really regain and grow back your collections to where they were, you're going to have to focus on your team.
- We've put together a program to help you do exactly that and more. We call it our Success Academy and we base all of our training around the five A’s.
- If you want to get your team optimized and supercharged to following the five A's process, and understanding your Money Funnel and where that 20% of your money is leaking out, clicking here
Created by Smartbox
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.
"Running your practice by yourself can feel overwhelming. With our help, you can increase the quality and quantity of your new patients, which will allow you to get back to enjoying life."