Patients and Profitability

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There is a positive correlation between focusing on patients and profitability. The more you can focus on the needs of your patients in unique ways, the better return you will see down the line. In practical ways, this makes sense: dental practices make their profits from the services they offer. If you have a consistent and solid relationship with your patients, especially if it’s built on mutual trust and respect, you can expect to see increased profit over time. Here are three ways that patient satisfaction and profitability are connected.

TRUST AND RELATIONSHIP

Every good relationship is based on trust. The same is true with business, especially dental practices. When it comes to establishing trust with a patient, start slow. Get to know your patients during their hygiene appointments. Learn more about them if possible before rattling off the services they might need. You can even introduce yourself quickly while a new patient is in the waiting room before their appointment. These small gestures can go a long way in building rapport and trust with your patient over time.

REPEAT BUSINESS

What’s the difference between a dental practice that’s thriving and one that’s merely surviving? In many cases, it’s the repeat business from the same patients, or who share about their experience via word of mouth or on social media. Repeat business is valuable for several reasons. The first is that a patient’s willingness to return to your practice over another shows that they trust you. Secondly, it does give you the opportunity to provide profitable services as necessary over the course of many years. If your practice treats both adult and pediatric patients, the value of established repeat patients is obvious.

NEW TECHNOLOGY AND SERVICES

It’s a good idea to keep on top of any trends or services that your competitors might offer. For example, many dental and orthodontic practices offer Invisalign as a service for patients who want to improve their smiles. If you only offer traditional braces, you might lose out on potential business from patients who want the newest and up to date products and dental technology. The same goes for services like digital video and images to give your patients a glance at their mouth in real time. These kinds of products and offerings put you in a unique position to get ahead of your competitors while providing your patients with state-of-the-art, beneficial services that include them in the process.

The relationship between patient services and profitability is clear. If you focus on your patients and their needs, you will see an increase in your bottom line. The important thing is to remember that your patients are ultimately what drive your success. For more in-depth information on how to measure your dental practice’s profitability and growth, book a consultation with Dr. Coughlin today.

4 Trends in the Dental Industry

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Trends come and go in the dental industry like any other, but it can be helpful to know popular treatments and products to offer if it makes sense to do so. While trends may not be as fluid in dentistry as others, there are still patterns to follow and take advantage of. By noticing and implementing popular trends, you can attract more potential customers and increase your revenue. Read on to learn about four current trends in the dental industry.

3D PRINTING

Want your practice to be efficient and up to date? 3D printing offers a way to develop products in-house instead of relying on another company to contract for their services. This also results in greater patient satisfaction because of the decreased wait time and duration of treatment. For example, retainers, crowns, and other models are some products that 3D printers can develop either in the practice or nearby.

LASER DENTISTRY

One of the leading trends in the industry so far has been the push towards laser dentistry. The process of laser dental technology means less pain for your patients and more efficient service options. Lasers can work on both hard and soft tissue, making them a great choice for almost any treatment, and are particularly effective at killing bacteria around the teeth and gums. There are also fewer complications and better surgical recovery periods. If your practice does not offer laser services, now is a great time to start.

AUTOMATED SERVICES

In light of the impact of COVID-19, automated services have become the norm for many dental practices. Automated chat, appointments, and other customer service functions can help speed up processes and free up your time. You don’t have to automate every service, but even choosing just one can make a difference in terms of efficiency and your overall bottom line. Save money and time by implementing some automated services in your practice this year.

TELEDENTISTRY

Like automated services, teledentistry has become an important and necessary trend to implement in many dental practices. With technological advancements, you can provide high-quality virtual dental care without having your patients physically come to your practice. Whether it’s a consultation or for a specific dental treatment, teledentistry can expand your reach to new potential patients. By offering telehealth services at your dental practices, you provide your patients with several benefits. These include greater flexibility with scheduling, less time away from the office or home, and provide space and availability for emergency situations.

For more information on how to navigate and implement any of these dental trends, contact Dr. Coughlin. You can also explore his coaching programs, books, and seminars for dental practice management. Whether you want to sell your practice or start one, we are here to help you every step of the way.

Which Practice Management Software Should You Choose?

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In today’s technological world, it’s not surprising that there are myriad options for dental platforms. Advancement in technology has made it simpler to run, manage and access virtually anything about your dental practice. Most software options popular with dental practices include cloud-based features, making it easy to access charts, appointment scheduling, and billing information from anywhere with an Internet connection. Thinking of trying out or upgrading to a new technology platform for your dental practice? Here are some features you should consider when evaluating which platform to use.

PATIENT RECORD MANAGEMENT

For any dental practice, the patient experience is vital. This is why choosing a platform that is easy to use, accessible and seamless for the patient is so important. The easier your patients can access dental records, scheduling appointments, etc, the more engaged they are likely to be. This kind of customer satisfaction affects not only your reputation but also your bottom line. By focusing on your patient’s needs and experience, you can set yourself up for success both now and down the line. For an all-in-one cloud-based practice management platform, consider Denticon.

ONLINE SCHEDULING AND TELEHEALTH

Given the impact of Covid-19, telehealth has become a matter of necessity for most service-based businesses, and dental practices are no exception. Teledentistry is an option that benefits both your practice and your patients. For your patients, teledentistry offers flexibility when making appointments that might not require in-person evaluation. The option to provide remote dental care gives you the ability to see patients that otherwise may not be able to come in person. Although these services are popular during the coronavirus pandemic, consider keeping them as a service going forward to differentiate from your competition. Teledentix is an easy-to-use, HIPAA-compliant mobile and teledentistry platform option.

REVIEW GENERATION AND MARKETING TOOLS

One of the benefits of technological advancement is how easy it is to market your dental practice. Gone are the days of having to go from door to door or sending out mailers. While marketing is made simpler and easier with the use of technology on its own, a platform that generates features to promote return on investment and/or grow your practice through word of mouth can go a long way. Look for features for software platforms with automated email campaigns, reminders and prompts for patient reviews, and even SEO tips to bring traffic and potential customers to your website. As an example, Dentrix offers these options through their Practice Marketing feature.

QUESTIONS?

If you’re looking for a new dental practice software or want to learn about the benefits they can bring to your practice, now is the time. Contact Dr. Coughlin today for more information and insight on the importance of marketing, growing, and sustaining your dental practice.

Tips for a Successful Dental Practice Website

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In today’s virtual world, it’s important that your dental practice stands out and sends a clear message to potential clients. In most cases, your website is the first impression someone will see of your practice. Make sure it’s a good one! Read on to discover some of the most important features of any dental practice website to attract clients and get them in your doors.

RESPONSIVE

Now more than ever, any business website needs to be mobile responsive. Responsiveness refers to the ability to view content on any size screen, like a phone, tablet, or computer. If you only develop the website for computer viewers, mobile users may be frustrated trying to access the information about your practice. This can even lead some to search elsewhere. Since many Americans use their phones to access the Internet, having a mobile responsive design on your practice website is imperative.

CLEAR AND CONCISE

Although most people think they know what to expect when it comes to dental offices, your practice is unique. When you think about what to include on your website, what makes your practice stand out among the competition? Do you offer the newest products and services? Would a potential client be able to understand what you do by the information on your website? These are all questions to address. The clearer and more concise your content is, the more professional and credible your practice appears. That leads to more clients in your business.

SOCIAL PROOF

Social proof refers to using the positive experiences of other clients to boost your image and credibility. You can incorporate reviews from across the Internet, including Google, or ask current clients for feedback on their experience at your practice. The power of social influence should not be ignored. The more social proof your business has, the more you can expect your practice to be shared organically, resulting in more clients for your business. Whether it’s a testimonial section or a client highlight feature, make sure to have some form of social proof on your website for optimal success.

OPTIMIZE FOR CONVERSIONS

All of these tips, especially when combined, make for a website that is optimized for conversions. This means that a client who comes across your practice website is persuaded to book an appointment or just to call your office with questions. On a practical level, including a “Contact Us” box that links to the office email address is beneficial. Go a few steps further and have an appointment scheduling system directly on your website. You can also provide access to any paperwork a client might need to fill out before their first appointment.

WANT FEEDBACK OR IDEAS?

Inspired by these tips and want to learn more about how to implement them? Reach out to Dr. Coughlin today. Ensure your dental practice website is optimized to bring you success and targets your ideal clientele.

3 Business Resolutions for 2021

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As we near the end of a long 2020, there’s no doubt that you are looking forward to a new year. Whether you own a dental practice or you want to implement strategies to boost your success in the coming year and beyond, planning for the goals you have in mind is helpful. Want to know some examples of no-fail “resolutions” you can make for 2021? Read on.

MAKE BIG PICTURE DECISIONS

One of the biggest struggles of any business entering a new year is navigating the balance between focusing on long term or short-term goals. Both are important, and they each have their place in determining the success of your practice. This exercise is beneficial for anyone in your practice, although certainly most useful for those in leadership positions. Consider the daily goals you have for your practice and see how they might fit into a long-term strategy. Evaluate the unique struggles your business might have and brainstorm how to approach them both on a daily basis and throughout 2021 (and beyond!)

DELEGATE

Have you ever found yourself wishing you could hand off some of the time-consuming work to a more efficient employee or team member? Lack of effective delegation is a common issue that most if not all businesses face. If your dental practice is small, for example, are all staff members working as efficiently as possible? Are you spending time doing tasks that someone else on your team might be faster or more skilled at? Have you spent time investing in your employees to figure out how to utilize their skill sets? All of these questions fall under the need for proper delegation. When duties are assigned to the best person for the job, the higher the overall productivity – and subsequently, profit – your business enjoys.

INVEST IN TECHNOLOGICAL TOOLS

While heavy reliance on technology might cause added stress for some people, there are benefits to taking advantage of resources that can ultimately help your productivity. As we enter 2021, do some research into programs that could make your job a little easier. For dental practices, some good examples are systems that manage payroll, HR benefits, appointment scheduling, billing and patient reminders. There are several options on the market, so make sure to take your time doing the research. The right software can give your dental practice the extra push in 2021 and beyond, both in productivity and increasing revenue.

CALL DR. COUGHLIN

Do you want expert advice on how to prepare your dental practice for success in 2021 (and beyond?) Want to avoid making mistakes before they happen and ensure your business resolutions actually happen? Contact Dr. Coughlin directly, or pick up one of his books to start the New Year on the right foot for you and your business.