Tips to Increase Your Business
Social Media & Smart Mouth Quiz
Sixty-seven percent of American adults use social media networks.* Social media has become a modern tool that can help dental practices reach their strategic marketing goals. The MDS Dental Practice Committee recommends that all dental practices consider utilizing an appropriate social media platform (e.g., Facebook, Twitter, Instagram, YouTube) to:
- Interact directly with your patients
- Provide patients with an outlet to comment on the services they receive
- Help you grow your practice through referrals
- Advertise your practice (a less expensive alternative to traditional media)
*Pew Internet Research Project
Ask Your Patients for Referrals
Your best source of referrals is your existing patients. Consider posting a sign in your office stating “We Welcome New Patients” and telling your patients that you would love to add their family members, co-workers, and neighbors to the practice. If you don't ask them, they might not think to mention your practice to their friends.
New Tip of the Week
How many active patients do you have? An active patient is someone who has had at least one appointment in the last 18 months. Tracking active patients is an important way to measure your growth and practice success. The MDS Dental Practice Committee encourages all MDS members to know your active number - and monitor it from month to month. Discuss with your team ways to improve patients following through with treatment plan recommendations.
Can Patients Find You?
Can patients find you in the MDS Find-a-Dentist search? Not sure? Log in to your profile and update your information. Many potential patients utiilze this search function on a daily basis.
Tips to Improve Efficiency
Create a maintenance schedule for all equipment and systems in your office. Create a list of tasks that must be completed daily, weekly, monthly, and annually to support the schedule. Assign tasks and make sign-offs mandatory so that nothing slips through the cracks. Update the schedule with new or replacement equipment as needed.
Credit Card Processing Fees
Many patients pay for dental care using credit cards, but credit card processing fees and related transaction fees vary considerably from company to company. How you process your credit cards (i.e., swipe or enter manually) also impacts the related expense. The MDS Dental Practice Committee encourages you to review your credit card processing system annually. Contact your credit card processing vendor to discuss options or speak with your accountant or adviser for recommendations. A difference of one-half percent on the discount rate can have a significant impact on your bottom line, so this annual exercise is well worth the time.
Accounts Receivable Management
The MDS Dental Practice Committee encourage you to establish a system for tracking accounts receivable for your office. The Committee recommends you appoint a team member to be the "tracking coordinator" and then meet at least on a monthly basis to discuss status and to make final decisions about individual account balances. Use the accounts receivable reporting tools your practice management or billing systems may offer. Getting on top of your receivables will help improve your bottom line.
What's in Stock?
To keep a handle on expenses, ensure proper product supply, and avoid overages and potential expiring items, the MDS Dental Practice Committee enourages dental offices to take inventory at least semi-annually. Add a full inventory check to your reoccurring items checklist to stay on top of your stock!