One of the most challenging parts of running a successful dental practice is deciding where to focus your efforts. You are only one person, and you only have 24 hours in a day. Growing your dental practice may be high on your wish list, but your plate is full with your current responsibilities. The good news is that you can grow your dental practice without increasing your current workload. With some discipline and creativity, you can earn more money from your existing patients and improve your patient turnover rates.
Hire a Marketing Specialist to Grow Your Dental Practice
If you want to grow your practice without increasing the number of tasks you have to complete each day, you will need to hire some help. Marketing is one area where you can see significant gains by outsourcing it to a specialized professional. Marketing is more than advertising. Marketing is about controlling how you share your story. A flourishing dental practice will not only have a marketing strategy focused on bringing in more patients; they also have a strategy for increasing the value of existing patients. It’s cheaper and more effective to market to people who already like and trust you than it is to convince strangers to trust you. A marketing expert can help you both get more patients in the door and increase the value of your current patients—all without you having to spend hours making flyers or blog posts.
Expand Service Offerings
One way to grow your practice is to begin offering new services to your current patients. However, instead of undergoing training yourself, bring on a part-time specialist to handle your expanded service offerings. Just like most dental offices use hygienists to add more value, you could do the same with other dental services such as teeth whitening. You leverage your patient list and the goodwill you have built up, and the outside specialist leverages their expertise. You create an additional income stream without having to increase your patient load. Your patients benefit from having more options and access to specialists that they would otherwise have to go elsewhere to find.
Invest in Alternate Payment Relationships
You already know that dental insurance is complicated, confusing, and not as widely available as it should be. The cost of treatment is one of the biggest obstacles for many people. You could help your patients get the treatments they need and increase your bottom line by investing in alternate payment options. You could create a membership plan that your patients pay into each month, similar to the way they would pay insurance premiums. But, under your membership plan, they can draw upon the funds they are paying each month to pay for dental treatments. A dental office membership plan works like a cross between a health savings plan and a dental services subscription plan. If you partner with the right vendor, you won’t even have to deal with the administrative burden of running the plan. Instead, you can be the hero for your patients by giving them another way to afford needed dental treatments. Your goal should never be to grow your dental practice just for the sake of growth alone. This will lead to burnout and can cause you to make decisions that will hurt your financial position over the long-term.
Instead, you should focus on smart growth that allows you to better leverage your existing assets and creates better outcomes for your patients. This type of growth can lower your daily stress while making your practice more profitable. OmniStar’s Dental Practice Management can also help illuminate any blind spots your practice may have. Talk to us today.