dental practice

What Are Dental Practice Profit Leaks and How to Stop Them

What if you didn’t even see the biggest threat to your business?

For a dental practice, the biggest threats are profit leaks. Unfortunately, many businesses don’t know what these leaks are. And even if they know what they are, they may not know how to stop them.

Our guide will walk you through how to identify these pesky leaks and plug them before your dental practice sinks altogether!

What Are Dental Practice Profit Leaks?

Profit leaks refer to slow but steady declines in profit for your dental practice. Due to the nature of running your practice, it can be difficult to detect these leaks.

For example, you have many patients that you only see twice a year. If one of these patients were to move or find another dentist, you may not know about it for months. Many such patients add up, causing profit to “leak” right out of your business.

To fight this, many dentists invest in reputation management software to help with their dental marketing. And the tips below can help you start plugging profit leaks as early as today.

Offer Rockstar Treatment

In any given town, your patients have multiple dental practices to choose from. Assuming that the prices and services are similar, they usually choose to stay with the dentist that treats them the best.

Therefore, you can prevent profit leaks by treating each of your patients like a rockstar. This helps build patient loyalty, and that patient will brag about the service they received to their friends and family. Basically, rockstar treatment turns patients into brand ambassadors that can help improve your offline and online reputation.

Focus on Longterm Relationships

It’s one thing to treat someone like a rockstar when they first visit your practice. But to really stop profit leaks, you need to focus on long-term relationships.

This is where good reputation management software comes in. You can use this software to keep track of patient schedules, send reminder emails, and generally stay “top of mind” for your patients. This will keep them coming back instead of going to another practice.

A Better Recare Ratio

The final way to plug profit leaks is simple. You need to focus on patient recare and your overall recare ratio.

This means never looking at a patient as a one-time visitor or as a patient you can afford to lose. Instead, look at each patient as an opportunity to provide them with the dental care they deserve.

Remember, though, that patients will be turned off if they think you are just coming up with excuses for them to come back. But if you get patients onto a care routine that genuinely addresses their issues, you can keep them coming back every 12-16 weeks instead of losing those patients forever. 

Stop Leaking Patients Today!

Now you know what dental practice profit leaks are and how to plug them. But do you know who can help you handle looks and boost your online reputation?

Here at DSO, we specialize in taking your practice to the next level. To find out how, all you have to do is contact us today!