Strategies to Increase Profitability in Your Practice

Running a successful dental practice isn't just about attracting new patients; it’s about maximizing the potential of every patient visit. Tiffanie Trader and Kristy Treasure, consultants with Dental A Team, share powerful strategies to help dental practices increase profitability, streamline financial arrangements, and tap into overlooked revenue opportunities without overburdening the team!

1. Convert Limited Exams to Comprehensive Treatments

Too often, limited exams focus solely on the immediate issue – a toothache or a chipped tooth. But what if that visit became a comprehensive exam? Kristy suggests using these appointments as opportunities to provide a complete oral health assessment. While addressing the patient’s main concern, take the time to review other potential issues. This not only improves patient care but can also increase production by identifying treatments that the patient may not have considered.

2. Implement Pre-Collect Policies

One of the most impactful changes Kristy has helped offices implement is a pre-collect policy. This involves collecting a deposit or reservation fee for appointments, even for smaller procedures. For instance, instead of allowing patients to leave with a balance of $500, consider offering them the option to pay $250 upfront and $250 at the time of treatment. This approach eases financial stress for patients and reduces the risk of unpaid balances.

3. Financial Arrangements: Clarity and Consistency

Financial arrangements are not the same as treatment plans. While a treatment plan outlines the necessary procedures, financial arrangements specify how the patient will pay. Kristy emphasizes the importance of setting clear payment expectations upfront.

  • Break Down Payments: Offer structured payment plans for extensive treatment plans, such as Invisalign or full-mouth reconstruction.

  • Reservation Fees: Require a deposit for major procedures, which helps patients commit to their appointments and minimizes cancellations.

  • Flexible Payment Options: Provide third-party financing options like CareCredit, Proceed Finance, or Sunbit to make high-ticket treatments more accessible.

4. Unscheduled Treatment Plans: A Hidden Goldmine

Many practices overlook unscheduled treatment plans, which can be a significant source of untapped revenue. Kristy recommends running unscheduled treatment reports monthly and assigning a team member to follow up with patients.

  • Scripted Follow-Ups: Train team members to use empathetic, patient-focused language during follow-up calls. Instead of, “Are you ready to schedule that crown?” try, “Dr. Smith recommended we address that cracked tooth to prevent further discomfort. Let’s get you scheduled to keep your smile healthy.”

5. Morning Huddle: Align the Team’s Focus

The morning huddle is a powerful tool for aligning the team’s focus on daily production goals. Kristy advises using the huddle to identify unscheduled treatment opportunities, celebrate recent wins, and strategize how to fill gaps in the schedule.

  • Review Daily Production Goals: Break down daily targets based on overall monthly goals. If the practice is $1,000 short of the target, brainstorm ways to close the gap.

  • Highlight High-Value Appointments: Emphasize treatments that can significantly boost production, such as same-day crowns or implant consultations.

6. Squeeze the Juice – Don’t Add More Work

Kristy’s consulting philosophy centers around maximizing the existing schedule to increase profitability rather than overloading the team. By focusing on converting limited exams to comprehensive treatments, implementing pre-collect policies, and reinforcing financial arrangements, dental practices can increase profitability without adding extra workdays or new patients.

7. Gamify Production Goals

Motivate the team by turning production targets into a fun, engaging game. Create a leaderboard, track progress, and celebrate wins – even small ones. This not only keeps the team focused on daily goals but also fosters a sense of camaraderie and collective achievement.

Strategies to Increase Profitability

Profitability doesn’t always come from working harder – it often comes from working smarter. By implementing Kristy’s strategies, dental practices can squeeze the juice out of existing resources, enhance patient care, and significantly boost their bottom line.

Want to learn more about how you can increase profitability? Schedule a call! We love nothing more than to make sure YOUR dental practice is truly thriving!

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