Accelerate Your Year-End Revenue with Mary Hughes
The Dental Industry is a Dynamic One
With constant changes in patient behavior, technology, and business dynamics, staying profitable requires a proactive approach. As 2023 nears its end, it’s time to put the pedal to the metal and maximize your revenue. Using suggestions from high-performance practice leaders, here are three strategies recommended by Mary Hughes, owner of Dental Education Partners, to bolster your dental practice’s bottom line before the ball drops on December 31st:
Comprehensive Treatment for Every New Patient
To elevate the standard of care and simultaneously drive revenue, adopt a comprehensive approach to treating new patients. Instead of focusing on isolated issues, consider a more holistic view of dental health. Collaborate with both dentists and hygienists to draft treatment plans, with attention to priority quadrants. This not only ensures that patients receive thorough care but also that all potential revenue-driving treatments are identified and discussed.
Optimize Hygiene Exams and Communication
A significant revenue leakage in many practices is an overlooked opportunity during hygiene exams. Ensure that a dentist performs an exam during every patient visit. More than that, it’s vital to establish a clear communication protocol between the dentist, hygienist, and office manager. Train your hygienists to identify potential restorative or elective procedures, and create a seamless hand-off process. Also, it’s shocking how many practices don’t bill for the hygiene services they’re already providing! Statistics on periodontitis prevalence don’t match up with how dental practices are coding, billing, and communicating with patients. Objections and misunderstandings within the team can lead to this gap. Addressing this disconnect can help recapture significant revenue.
Tactical Scheduling and Goal Setting
Cancellations and no-shows can severely impact revenue. One underutilized solution? Side-booking against “unconfirmed” patients. This doesn’t mean disregarding the original patient but slotting another patient just in case. To ensure everyone is on the same page, revamp your confirmation process. Simultaneously, set clear end-of-the-year production and collection goals. Break these down by month, week, and even day. Always schedule over the goal by 10-20% to offset potential cancellations. Additionally, morning huddles can help strategize on meeting daily goals, considering any same-day inclusions. To motivate the team, consider introducing an end-of-the-year bonus if the practice meets its revenue objectives. Finally, kick off end-of-the-year patient communication campaigns, reminding them of available appointments and incentives.
The end of the year is always a flurry of activity, but with the right strategies in place, it can also be incredibly fruitful for your dental practice. As always, work smarter not harder. Vyne Trellis Campaigns can help your practice create lists to campaign with three easy steps. Just build your list with simple-to-use filters, write your content, review, and send. That’s it, it’s as easy as 1, 2, 3! Strategies and planning to accelerate revenue before the year ends don’t have to be daunting, lean into systems that are designed just for this.
Don’t wait for the New Year to make changes; start now and finish 2023 on a high note!
Schedule a time to speak with a Vyne DentalⓇ Practice Revenue Advisor today to see how our solutions can cut the amount of time you spend pulling lists and accelerate revenue back into your practice.
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