Competition in the dental industry is nothing to sneeze at, with patients having more choice than ever. Whether you are just about to open your first practice or you want a revamp to how you usually do things, the following tips will help you run a successful business.
Invest in Your Team and Equipment
Many dental practices underinvest and try and save money to improve the bottom line. Perhaps a better way to increase your profit line is to invest in the right places.
Your team, for example, should not only consist of highly qualified dentists, but you should also ensure you prioritize the recruitment of competent receptionists, managers, dental hygienists, and so on. This will lead to a more efficient business, happy patients, and increased custom.
Your dental practice should also feature the latest equipment, to ensure safe and optimal results. Do not try and skimp when it comes to dental equipment, but instead focus on care and maintenance to extend the lifetime of your products.
Think About Your Target Customer
Dentists can be a little precious about what they offer, when the practice opens, how patients book in, and pretty much everything else. Instead, try and put your ‘customer hat’ on and prioritize what they need.
For example, are you offering the best range of services for your area? Do you provide flexible payment options? Think about expanding your business hours to cater to those in full-time employment.
The trick is in being flexible in how you approach your business. Don’t be rigid and stubborn, but open your eyes to new possibilities. Find ways to fine-tune and improve what works, and don’t be afraid to get rid of what doesn’t. Just make sure the patient is your priority in all of your decisions.
Optimize Business Practices
Ensuring your dental practice runs smoothly will improve the efficiency of your processes across your business, and will also lead to optimal results for your patients. Do the following:
- Hire a competent manager. We have already emphasized the importance of all of your staff members, but special mention must be given to your manager. The entire practice will rely heavily on management, so make sure you hire the right person.
- Confirm appointments. Patients cancel and are no-shows to shocking levels. In the United States alone, it is estimated it costs $150 billion per year. You want to try and minimize this by sending automated appointment reminders.
- Optimize paperwork. Paperwork for the sake of it causes a lot of lost time and money. Instead, try and streamline your processes. Invest in decent software, improve automated communication, and try and digitize as much as possible. Of course, don’t leave those who cannot use apps or websites and always provide alternatives.
Prioritize Your Marketing Efforts
Many practices tend to focus on what they do well, which is dental work. Makes complete sense, to a point. To run a successful business, you need to go beyond your bread and butter.
Marketing should take an important place on your priority list. It’s not an extra, an add-on, a detail, or a bonus. No, you need to consider marketing a critical component of your success. Here are just a few ways you can achieve it:
- Search engine optimization. Ranking on Google is one of the best ways to get new business. Just make sure you don’t spam and focus on buying keywords.
- Ads. Google and Facebook ads can get expensive, but if you get ROI, does it matter? An agency will charge a pretty penny, but it may be worth it.
- Old school tactics still work. Especially because your competitors underutilize them. Think snail mail marketing, for example.
- Don’t forget current patients. It’s easy to overemphasize new business over existing patients. They’re not only important for your core practice, but you may find it’s easier to sell to existing customers.
Ultimately, It’s About Dental
Our final piece of advice is to always keep the patients and the level of your dental service at the top of the list. It’s what really matters, after all. You can get all other items on the list right, but if you’re not providing top notch dental care, nothing is going to work.