How to Prepare When "Winter Is Coming"

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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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Use pain as a motivator. – Dr. Craig Spodak

You get what you focus on. – Dr. Peter Boulden

Influence is the difference. – Dr. Craig Spodak