For Practice Owners – Valuation Factor: Quality of Systems. Dental practices with excellent systems merit a higher practice value. It’s a matter of sustainability. CEOs understand that sustained performance can only be achieved with repeatability… thanks to efficient step-by-step systems which make it easier for current team members, new team members and a potential buyer’s team to run the practice smoothly.
What is your practice’s brand personality? Market research indicates that people think of businesses, products and services in human terms. If your practice were a person, how would you describe him or her? Shy or outgoing? A perfectionist? Warm and thoughtful? By figuring out your practice personality, you’ll be able to create a brand that’s true to your nature and appealing to your market.
Scripting Tip – If possible, avoid saying “no” to parents. When you say “no,” the only thing parents hear is that you aren’t going to help them. Instead of saying “No, we can’t see Bobby on Tuesday,” you can certainly say “We can see him on Thursday.” Notice that instead of telling parents what isn’t available, you are sharing with them what is available. It allows you to focus on what is possible versus what isn’t.
Make a great first impression on parents and patients. When new parents and patients present to your office, they’ll judge your practice on the basis of the “feel” they get rather than on clinical factors. Whatever your role on the team, help make a positive impression. Be warm and welcoming, informative, supportive… whatever it takes to convince them they’re in the right place.
Friday Freebie: Watch Dr. Levin’s video, “The New Patient Experience – How To Impress The New Patient” by clicking here.
Increase efficiency with time studies. Annual procedural time studies examine exactly how much time the pediatric dentist or team member needs for each type of appointment. Measure every procedure 10 times. Average each type of appointment to determine how much time to allow per procedure when scheduling patients. This is particularly important for pedo offices due to the high volume of patients seen daily.
For Practice Owners – Valuation Factor: Profit. Profit matters more than production for the purpose of valuation. A practice can have high production undercut by high overhead or poor collections, resulting in lower profit and practice value. However, when production and profit are both increasing, this is a very healthy sign for your practice. Tracking for three years is important because it shows a trend rather than a snapshot.
Improve telephone skills through scripting. Even in the age of the internet, the telephone is still the pedo practice’s main lifeline for new patients. When parents of prospective patients call, the practice should make them feel welcome, build value for pediatric dental care, and gather essential information, including how they heard about the practice. Powerful verbal skills will help win over parents and turn calls into appointments.
Shake hands with patients. Upon meeting patients, shake hands—regardless of their age. This simple gesture creates a sense of connection, showing respect and encouraging trust. It’s especially important for patients who are uneasy about seeing the dentist or are worried about experiencing pain.
Management Monday: Check out Dr. Levin’s whitepaper, “5 Ways to Improve Interpersonal Relationships with Patients,” by clicking here.
Ask for testimonials. Encourage parents to send emails and letters to your office with their feedback and to post comments on social media and review sites. Positive statements from parents build credibility for your services, encouraging new parents to commit to your practice. When you receive positive comments from parents, ask their permission to display their testimonials in your office and on your practice website.
Advice for the Scheduling Coordinator – Keep track of hygiene patients. Most pediatric dental practices see a high volume of patients. In such a fast-paced atmosphere, it can be easy sometimes to forget the simple things, such as scheduling the patient’s next hygiene appointment during checkout. If that happens, follow up with parents in the next 48 hours to get their child scheduled.