Increasing your dental practice’s profitability doesn’t have to be complicated.
Sometimes, asking a simple question of your patients is all you need to do to increase profits by booking more appointments, selling additional services, or attracting new patients.
Other times, a simple adjustment to the way you run your business increases efficiencies, leading to higher revenue or lower costs.
Here are ten simple ways to generate more profits for your dental practice you can implement today.
1. Send a targeted email to patients with unscheduled treatments with an offer and call to action.
Patients rarely take the initiative to schedule treatments if they aren’t in the office. If you have patients who need treatments, email them to schedule an appointment to fill open time. You might also consider enticing them with an offer such as a free additional service, like basic whitening, if they come in within a certain period of time. If you have the technology, include a link to schedule the appointment online to make it easy for them.
2. Ask about family members who are not scheduled.
When a patient comes in, ask about other family members. Mention they’re due for treatment and see if they can get in touch with their family member to get on the schedule.
3. Create a strategic alliance with another business.
You can increase profits while supporting local businesses by forming mutually-beneficial strategic alliances with local businesses who serve the same people you want to serve and create offers to encourage their clientele to come to your practice.
4. Commit to talking to every patient with a missing tooth about the risks of not replacing it and the options to replace it.
Many patients mistakenly believe that having a missing tooth poses no risks. By explaining the risks of not replacing missing teeth and the options to do so, you’ll help your patients make wise decisions about their health while simultaneously increasing revenue for your practice.
5. Ask patients about optional services that could benefit them.
Patients sometimes don’t know what services are available to them or are too shy to ask for some cosmetic services. You can increase your profits by having helpful conversations with your patients, asking questions like “Have you ever considered teeth whitening?”
6. Add services.
Adding services has several benefits. At its core, adding services provides more ways to serve your patients, a natural revenue booster. Consider adding services to increase your revenue and profitability.
7. Add insurance plans.
Many patients find dentists from their insurance plan’s list of preferred providers. If you accept dental insurance, consider adding insurance plans; you could attract a large number of additional patients.
8. Implement block scheduling.
Block scheduling is one of the best things you can do to increase the profitability of your practice while at the same time protecting your personal time. In my practice, we moved to a block-scheduling system that split our days into “time blocks” depending on the services needed by our patients. This makes operations much more efficient. After we implemented block scheduling, we started regularly meeting up to 90% of our daily revenue goals before lunchtime.
9. Offer patients the opportunity to do all services in one day.
Offering patients the option to do all services they need in one day makes treatments easier to schedule and less of a disruption to your patients’ days. Because of that, it’ll be much easier to get patients to accept your treatment plans.
10. Create a featured service of the month.
Creating a featured service of the month gives you an excuse to talk with patients about services they may want or need. Having a featured service to let them know about also gives you reasons to reach out to patients by phone, email, social media, or in person.
What are your best profit-generation strategies?
These are ten of my favorite simple profit-generation strategies for dental practices because they’re simple things anyone can implement!
TAKE ACTION TODAY:
If you want help on implementing some or all of these strategies into your practice, check out the team of expert coaches, training, and resources we offer in our signature Delivering WOW Platinum Mastermind Program.
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