Tips from Business Development Specialist, Stuart Stephens
Running a successful dental practice requires more than skilled dentists. A dental practice is, at the end of the day, a business, and all businesses should aim to grow and develop. The risk of not doing so and of simply plodding on, year after year, is stagnation, or even going backwards.
If what you’re currently doing is not creating enough revenue, or not leading to the kinds of growth you want as a business owner, then why would you keep doing things the same way?
When Henry Schein One Business Development Specialist Stuart Stephens sits down with a new client, the first things he asks them are:
Do you know what your recall effectiveness is?
Do you know how many new patients you average per month?
Few people know the answers to these questions because they’ve been focusing on the oral health of their patients. But running an effective practice requires more than this.
“Not only do you need to worry about oral health, you need to worry about your business and how you’re going to build that.”
Don’t shy away from change
Stuart emphasises that the first step towards growing your dental practice is to embrace the idea of change.
Henry Schein One’s Business Development Specialists, like Stuart, conduct business reviews. They take a snapshot of dental practice data and analyse it to highlight areas of importance for improvement. They then develop a strategy on improving those areas of importance, with the goal of generating more revenue. The key to successfully implementing the strategies of a Business Development Specialist is being open to change.
“If you don’t change, you’re not going to grow. To be able to take that next step in business, you have to create new ideas, and that requires changing in some way.”
Book a business review with one of Henry Schein One’s Business Development Specialists here.
Increase recall effectiveness
Once you’re open to change, Stuart emphasises that it’s important to devise a strategy to increase recall effectiveness. Dental practices that don’t successfully draw clients back to follow-up appointments or for further dental work are potentially missing out on an enormous amount of income.
The strategy for improving recall effectiveness will be different for every practice. Increasing your recall effectiveness will bring more patients into your practice, but it’s not easy.
That’s where a consultation with a Business Development Specialist comes in. Whether you need to upgrade and improve your software and booking systems, or implement some other tactic, Stuart can find the best approach for your practice.
“Whatever the tactic, you have to change the way you do things in order to get new and existing patients in.”
Improve staff retention
Don’t underestimate the power of your support staff in drawing clients back to your practice (or pushing them away), either! Many patients return to a dental practice because of familiar faces and personalities. If your front desk staff help a nervous client feel at ease, or make it easy for them to book or re-book an appointment, that client is more likely to return to you.
Stuart emphasises that it’s important to find ways to keep your staff happy at work. Incentivise them, provide them with feedback to help them grow at work, and invest in them. Offer training courses for administrative staff so they learn how to effectively deal with customers.
This doesn’t stop with administrative staff. If you can’t retain your dentists or your nurses, you’ll have to continually train new hires. If you can’t retain your staff, you need to find out why, and then be prepared to act on what you find.
“To be successful, you need to be able to change every day, to implement something new. To get yourself out of that comfort zone, to provide a different solution.”
Better management, better business
As much as you may want to focus on patients and their oral health, ignoring marketing strategy isn’t sustainable. It isn’t a strategy at all, in fact. Checking in with a Business Development Specialist will help you fine-tune a strategy that works for you and your business.
Are you ready to make the change?
To book a complimentary business review with Stuart Stephens or another of Henry Schein One’s expert Business Development Specialists, click here.