How to Prepare When “Winter Is Coming”

How to Prepare When “Winter Is Coming”

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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:

Dental Intel

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Spodak Jeff’s Reaction

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

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