How to Prepare When “Winter Is Coming”
Text ‘bulletproof’ to 345345 to stay in the know about our upcoming book release and the Bulletproof Summit on October 12-13th 2018 in Atlanta!
Bulletproof Dental Practice Podcast Episode 69
Hosts: Dr. Peter Boulden & Dr. Craig Spodak
Key Takeaways:
- A lot of general dentistry practices see a slump in the summertime. Kids are off school so parents focus more on their dental care.
- Boulden predicts what is done in March will predict business for April, May, and June.
- Cycles happen and they are normal.
- Oral surgeons tend to have busy months, so take advantage of those procedures.
- During downturns pay attention to pre-appointment rates. What % of your patients are leaving with another appointment scheduled? If you’re in the 90% range you have an iconic practice.
- Pre-appointment rates have the highest correlated number for profitability and overall practice size.
- Have your providers with high pre-appointment rates train those who are lower on how they do it.
- Also look at your revenue per patient and work on growing that number.
- Focus on the # of visits, avg production per patient per visit, and profit rate.
- Only 11% of what can be maximized on dental insurance is being used.
- Marketing isn’t print ads anymore; it’s influencer marketing, spending on patients, social media, etc. Focus your dollars on where people’s attention is.
- Today it takes about 20 impressions of an ad before people choose to act.
- Influencer marketing is currently very low-priced attention.
- Authentic testimonial videos are GOLD.
- Videos don’t have to be super-well produced. People respect unpolished testimonials and often weight them as more authentic.
- Find a dental advocate who wants success for you. Bounce your ideas off them and share tips and tricks.
References:
Tweetables:
Use pain as a motivator. – Dr. Craig Spodak
You get what you focus on. – Dr. Peter Boulden
Influence is the difference. – Dr. Craig Spodak
Blog
, June 15, 2023
, June 8, 2023
, May 31, 2023
Look at These 3 Stats if You’re Thinking of Going Out of Network with Teresa Duncan
, January 11, 2023
, December 28, 2022
Knowing What You Don’t Want with Judy Kay Mausolf of Culture Camp and Erika Pusillo
, November 30, 2022
Cabo This Week, Immersion Learning, Biggest Breakthroughs, Your Personal KPI is Net Worth
, November 2, 2022
, October 19, 2022
Business is not Productivity, Productivity is not Profitability with Chris Salierno
, September 22, 2021
3 Biggest Bottlenecks of an Entrepreneurial Dentist: PART 2 with Perrin DesPortes of TUSK Partners
