An EFFECTIVE PROCESS drives all 3 growth strategies: Yesses from conversions, Yesses from compliance, and gets you lots of new patient referrals from satisfied patients and clients who enthusiastically say “Yes!” when asked if they know a great doctor or dentist!
Would you like to know how effective your current process is? Just follow this example by filling in your gross collections and new patients for the past year… then doing the math to determine your average revenue per new patient:
($900,000 gross collections) ÷ (600 new patients) = $1500 avg revenue/new patient
For the sake of discussion, let’s say these are your figures. What that means is, the “value” of your process is about $1500. This figure will vary widely between Practices, so it’s important to know your own figure as a baseline for your own relative improvement. De-emotionalize it and objectively realize that your process is what it is… it does what it does… so you get what you deserve.
If you decide to “deserve more” then change the process so it delivers more. For example, instead of $1500 average revenue per new patient, why not “decide” you want to average, say, $2500 per new patient? That extra $1000 for 600 new patients would equate to $600,000 in additional revenue in a year. THAT’S a great decision!
($2500 avg revenue/new patient) x (600 new patients) = $1,500,000 gross collections!
Now that I have your attention, let me repeat… getting Yesses is the result of a very consistent, well-orchestrated process that leads to conversion and compliance, and more new patient referrals. Everyone in the office does their part, and everything is done just right, each and every time. Everything matters if you want to hear Yesses.
If you’re not getting the results you want, you have to CHANGE YOUR PROCESS so you get better results.
You also have to recognize that even a good process has to change as times change. The best example — in periods of economic slump, conversion and compliance get harder. More patients will tell you they have to think about it… they have to discuss it with their spouse… they want a second opinion… they don’t have time… or maybe next time. Once you hear things like that, you’ve lost your opportunity for a Yes. It’s too late to be influential.
Something that hasn’t changed, though — and never will — is people’s desire to look their best… to keep looking young and healthy. Call it pride, ego, even vanity. We ALL want to look our best as long as we can, and we always will. It’s human nature. And as the population ages, there’s an ever-growing need.
As a Dentist, Plastic Surgeon, Orthodontist, Dermatologist, Chiropractor… you help people look and feel their best. They want your services! You just need to present options and costs in the right way.You have to anticipate the consumer mindset, and adapt your process so you stay in control— stay in control of how you process a new patient… present treatment options… and explain costs. If you do, you WILL hear Yes, Yes and Yes!