Ways to Increase Your Dental Revenue
As the world still reels under the effects of the ongoing pandemic, most dental practices have faced a substantial lull as people feared to undergo any procedures. However, things are slowly picking pace, and this is the best time to turn it around. Let us help you with four ideas to give the revenue of your practice the much-needed boost:
Increase capacity to accept more cases
Try to pack in more patients who can be treated at your clinic per hour. Some of the easy ways would be by adding more facilities, treatment rooms, better equipment, training the staff adequately to attend to more patients, and, lastly, welcoming one or more dentists on board. A well-equipped clinic and well-trained staff are marks of efficiency, which are automatic crowd-pullers. The more efficient you are in handling patients, the better it is for your practice. As the word spreads and referrals increase, a steady flow of patients is likely guaranteed, thus lifting revenue.
Include more high-profit procedures
The more well-equipped you are to handle complicated cases that need multiple high-end procedures, the better it is for your practice in terms of revenue. Procedures such as implants, orthodontics (braces, clear aligners, brackets), endodontics, cosmetic dentistry, etc., are mostly on the higher side in terms of expenses. Adding some of these facilities to your practice — of course, with the required expertise — and educating your patients about their needs can turn out to be beneficial in the long run.
Offer more patient-friendly packages
Good treatment plans and packages are always good news for patients who want to reduce as much out-of-pocket expenses as possible. No one would like to spend beyond their means, even if it means undergoing an important procedure for their oral health. But the moment there is an option to pay through installments, third-party loans, proper utilization of insurance coverage, etc., no one would look away. A clinic that offers patient-friendly treatment plans is always the first choice over one that doesn’t.
Spend a bit on marketing
A well-defined and powerful marketing campaign can make or break a brand. Unless people know about your existence and purpose for it — taking care of people’s dental health in this case — why would they even come to you. Hence, it is crucial to have a good marketing strategy, both internally and externally, to attract more new patients. A rise in the number of new patients will automatically translate to better revenue.
While ensuring healthy teeth for all should be the only focus for any dental practice, it is also important to increase your practice’s revenue to stay afloat. Remember, following some simple rules and staying consistent in delivering the best treatment can make a worthwhile difference.