5 Ways to Increase Profits for Your Dental Practice
It’s hard to believe that 2018 is nearing its end—it’s been a whirlwind year for many dental practices. Some have seen a decline in profits, however, which can be disheartening to say the least. Fortunately, there are a handful of techniques that can not only help reverse this pattern,but push profits in a major forward direction.
Not sure where to start? Here are five ways to increase profits for your dental practice before 2018 comes to a close.
- Bring On More New Patients
There’s a lot to be said for not overwhelming your staff with too many responsibilities so as to allow them to do their jobs as effectively as possible. This can sometimes mean laying back on the amount of patients that get taken on, which—while wise in theory—can quickly lead to a reduction in revenue. Fortunately, the solution is as easy as not turning away patients any longer. Once you begin to see signs of overload, however, be sure to step things back for the sake of your staff.
- Remind Patients of Unscheduled Appointments
Chances are you already have enough patients at your practice—you’re just not seeing them often enough. It’s easy for people to forget to schedule appointments when they haven’t been in for a while, which is why reminders can be so important. Email is an excellent vehicle for sending out appointment reminders, but you can also get a lot of mileage out of simply scheduling follow-ups at the end of each appointment.
- Provide Additional Services
Cleanings and checkups may be the most common reasons for visiting the dentist, but if they’re the only services you offer, you may be losing out on potential revenue. By providing additional services such as root canals or crowns, your practice can become a “one stop shop” for all of your patients.
- Hire More Hygienists
Speaking of cleanings, are you struggling to keep up with patient demand? It could be due to simply lacking enough hygienists, which can severely cut down on how many patients can be seen on a given day. Hire one or two additional staffers, however, and you’ll be able to address more patients’ needs in no time.
- Accept More Insurance Plans
Dental insurance can make or break whether or not a patient decides to come in for an appointment. Even if they have it, however, doesn’t mean your practice accepts it. Dealing with insurance companies can certainly be a pain, but if it means bringing in more patients, it’s likely very much worthwhile.
So don’t just assume your practice has to continue living with declining profits. Put in the right work, and the results will follow.
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