Invest in the Growth and Stability of Your Practice

Reaching a point in your dental practice where operations run smoothly and business is stable is no small feat. However, this is only the beginning of the journey. There is more you can do to increase business and expand your practice if you’re looking to make the most out of your dental career. 

Sometimes, the best way to increase revenue is to focus on the business aspects of your practice, such as marketing, encouraging patient referrals, or analyzing your accounting books. Other times, it is the dentistry itself that can most benefit from your attention, like pursuing an orthodontics education and expanding your services. 

Regardless of the route you take, growing your practice requires investment. That investment will involve a combination of your time, your energy, and your money, all of which you may be short on while working to maintain a successful dental practice. Because of this, it’s crucial to choose where you use those assets carefully. 

If you’re unsure of the best option to invest in your dental career, consider the following four effective ways.

1. Keep the Patients You Have.

Repeat visits are not just more business, they are also more efficient and profitable business. These patients don’t require any onboarding, and you don’t have to pay for new advertising to acquire them. Additionally, word of mouth from loyal patients makes for organic, no-cost marketing.

If you want to retain your patients and develop a strong reputation, make exemplary service your priority. When you treat your patients, strive to demonstrate trustworthiness, compassion, and professionalism. Connecting with patients increases their confidence in your care, raising the likelihood they will want to return to you.

Because of this, developing a rapport with your patients is almost as critical as giving them excellent care, particularly if you plan on expanding your services by starting an orthodontic practice. Current patients with whom you’ve developed a strong relationship may be more likely to become your orthodontic patients too.  

If you’re looking to better understand how to retain patients, consider The Patient First Manifesto by Bryan Laskin, DDS.

2. Take Advantage of Technology.

Advanced technology, such as same-day restorations and 3D imaging, can vastly improve your services. If you would like to increase patient comfort as well as the efficacy and efficiency of your procedures, consider investing in laser technology. Up-to-date technology can also be an advantage when starting an orthodontics practice.

However, you don’t just want the most cutting-edge equipment at your practice you also want to use all of the technology available to you to optimize the patient experience. We live in an era of convenience and streamlined services, so you will need to match or surpass the competition in that area in order to gain and retain patients.

To do this, make sure your website is easy to navigate on a smartphone. Keep social media accounts well-managed and up-to-date, and offer a patient portal that is simple to set up and use. Both your patients and your team can benefit from advanced and convenient technology.

3. Hire a Dental Consultant.

Because much of your schedule and funds are likely dedicated to the daily management of your practice, you may consider bringing in extra help and a fresh set of eyes while attempting to expand business and take in more revenue. 

A dental consultant can take an objective look at your practice and identify both strengths and weaknesses. They’ll help you optimize your time, your team, and your talent and they’ll make sure you’re not losing any money through the cracks. They may also suggest starting an orthodontic practice.

Learning how to take advantage of your strengths and work to improve any weaker areas in your practice can prove to be a worthwhile investment.

4. Consider Orthodontic Continuing Education.

If you feel your business is optimized and stable, consider expanding your dental career by branching out with orthodontic continuing education. 

An orthodontics education can help you expand the services you offer, which gives you the opportunity to quickly and significantly increase your profit. Adding just three to five new orthodontic cases to your practice per month can increase your revenue by $150,000 to $300,000 per year. 

Keep in mind that many of your current patients can become orthodontic patients as well, which means that you don’t necessarily need to start from scratch when starting an orthodontic practice. This will save you both time and money dedicated to marketing and onboarding.

Interested in Starting an Orthodontic Practice?

Synergy Orthodontic Seminars offers online courses and hosts industry events that can help you start furthering your education and growing your practice. Contact us today to learn more.