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Bulletproof Dental Practice Podcast Episode 69
Hosts: Dr. Peter Boulden & Dr. Craig Spodak
Watch full video of the interview by clicking here!
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