What To Do When YOU Want A RAISE
How dental marketing services increase profit
By Joanne Bishop | October 1, 2017
Want a raise?
You need to increase practice revenue.
Want to increase practice revenue?
Attract more new patients. Book more repeat visits. Increase patient value.
Don’t worry about it. We’ve got you covered. You go treat patients. Live your life outside of the practice. Our dental marketing services will keep your practice growing and thriving. And gaining in profitability.
To give yourself a raise, you need more revenue and more profits. That requires attrition control and a gain in new patients over the rate at which you’re losing patients. And everyone is losing patients – patient attrition averages 20% for most dental offices, and that is expected to increase in the coming years. Even boomers, who are viewed as very loyal customers, are more likely than ever to switch providers.
Today, you need to deliver absolutely stellar customer service, convenience, and care.
When it comes to new-patient acquisition, not only does your practice need to attract more patients to call your practice, but your team must also be GREAT at call conversion. In our experience, most offices really do need to continually work on improving the rate at which their front desk teams turn calls into appointments.
The art of call handling specific to new-patient conversion takes effort and training. It’s not just about having a friendly receptionist. Most of you do. The responsibility of the people who answer your phone has radically changed. Today your team must have a skillset that is far beyond being cheerful (not that this isn’t a key ingredient) – one that is closer to a sales skillset than you think. And you should reward accordingly.
When you start tracking and scoring your inbound calls, you will see exactly where the gaps in your system are occurring. Are your new-patient calls being answered live … or are too many being lost to voicemail? Do you have one team member that is out-converting all others and who could take on more new-patient call handling responsibilities? Is everyone on your team receiving perfect scores for their greeting, but falling short on knowledge about the practice benefits, your offer strategies, or failing to even ask for the appointment?
This is an ugly truth for many practices. Some doctors don’t like to manage. They can’t figure out how to approach what is constructive feedback. Some (we’ve had clients like this) are actually willing to lose money, lose market share, and lose practice security rather than address the training needs of their front desk teams. Don’t be silly. You must take control of your future, and your account manager at Patient News is here to help. Just ask – we can show you what your numbers mean and what they would look like with incremental improvements.
Many of our clients provide their front desk teams with a minimal spiff. Think about this scenario:
- You currently get 50 new-patient calls per month
- Your team currently books 25 appointments (this is industry average)
- Each new patient is worth $700/year – and stays at least 5 years = $3,500
- You implement a $25 spiff for every new patient over 25 per month
- Staff converts 40 new patients – you pay $25 x 15 = $375
- 15 extra new patients per month = 180 per year x $700 x 3 = $400,000.
A $375 investment just earned your practice AT LEAST $400,000 in contributed revenue. BEFORE REFERRALS!
When it comes to dental patient retention and reducing the impact of attrition on practice revenues, there are many things you can do. Number one – consistently let patients know you appreciate their business. The number-one reason that patients leave (when they don’t have to) is because of poor customer service and a perceived indifference. Be repetitive. Say thank you for everything – did you know that so few people say thank you anymore that this simple statement can make your practice stand out?
Take the effort to MAIL a patient newsletter. Yes, we have email newsletters, but the mailed piece still kills it. Not only is this valued by patients (85% of patients appreciate receiving their dentist’s newsletter in the mail), but it also strengthens patient loyalty, increases referrals, and helps you seed information about elective services, increasing awareness and improving case acceptance. Like your community newsletter, it has an amazing shelf life in homes. Things like this create a great patient experience that will result in repeat visits, higher treatment acceptance, and more referrals (an increase of new patients from your existing patient base – low hanging fruit)!
Here’s how you can give yourself, and your team members, a raise.
- Generate more new patients
- Book more repeat appointments
- Increase average patient value.
Get everyone on your team focused on your goals and share the wealth with everyone. The better your front desk team converts patients, the happier your hygiene team will be ... and the happier hygiene is, the more they will talk up your services and promote the procedures you want to perform – making your entire team happier. The happier your team is, the happier your patients will be. Happy patients = more patients = more revenue. That’s it.
That’s why our dental marketing services go well beyond one aspect. We complete a deep dive on your market area prior to campaign implementation, we carefully analyze the results from your campaigns, and we help you monitor your key performance indicators, like call conversion, to help your practice get the best results possible resulting in a Stand Out experience for your practice.
BTW – THANK YOU for choosing Patient News. We really value your confidence in us, which is why we continue to push hard to improve the effectiveness of all our dental marketing services to help your practice stand out and grow.