- Today, in just a minute or two, I'm going to teach you how to predict the future of dentistry by looking at the past.
- Now, take a good look at this chart. Do you understand what this chart is showing you?
- This is a chart of qualified new patient phone calls coming into dental offices across the country. We refer to these calls as NPOs or new patient opportunities.
- Now, if you see what's happening over the past few months, you see here that calls over the last couple of months are declining 15 to 20% week over week.
- Most dentists don't have access to this level of data like our clients do, so it's not quite as easy for most to put their hands on this type of business intelligence.
- But when you have it, seeing the future is pretty easy.
- What happens in the months following a sharp decline in calls? Now, that's not a trick question. This is common sense, a simple question.
- Fewer calls now means fewer appointments, which means fewer cases are going to be presented, fewer will be accepted, and that's going to mean less money in your bank account.
- This is about the marketing to cash cycle. And as you're turning these over, you have a 60 to 90 day period between when you spend the marketing, you generate the new patients, and then the money comes back into your bank account.
- And since many expenses in dentistry are fixed, this chart shows you that for the average dentist, a big cash crunch is on the way.
- Now, what's the solution? Well, you've got to stop being an average dentist in this country.
- First, you need to upgrade the system so that you have access to data that you need to make profitable decisions.
- Second, you need to install the system so you can adjust and tweak depending on what that data is showing you.
- Most dentists either don't have these things or they simply advertise, get new patients, treat, and then they rinse, wash, and repeat for the duration of their career.
- And while that's a great recipe for burnout, it's not so helpful for creating real and extremely profitable, repeatable success.
- Systems are the solution. Data-driven systems will keep you from having to fly blind and put you in the driver's seat of your own success.
- If you want help getting started on this journey, schedule a call with our team.
- Just be prepared to have your eyes opened to what's truly possible for you and your practice.
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."