Many dental practices invest their money in the wrong areas thinking it will help them increase their revenue.
When it doesn’t, they think they’re doomed to languish with low revenue and tight margins. The truth is, increasing revenue might be simpler than you think.
In fact, here are three ways you can increase your revenue without having to make drastic changes.
1. Call unscheduled patients every day.
The biggest red flag in dental practices is empty appointment times. This is wasted time and money. Reduce empty schedules by calling your unscheduled appointments every day.
Another issue is no-show patients or last-minute cancelations. To avoid this, keep notes of which patients are prone to miss their appointments and make sure they are last priority with rescheduling them.
If you don’t already, you might want to implement a cancelation or missed appointment policy where you charge a small fee to patients who don’t cancel their appointment 24 hours before their missed appointment. This will give your patients incentive to not miss their appointments and you will have fewer empty blocks in your schedule.
2. Add new services and procedures.
Stay up to date with the latest services and procedures. If you notice a specific treatment that you have to outsource for patients is common, consider getting training or training your team to allow you to add it to your practice’s services.
This could be anything from dental implants to cosmetic dentistry. Adding new procedures will allow you to attract a new customer base and seem more professional.
Don’t hesitate to ask your patients what procedures or treatments they might be interested in. Adding new services will increase your revenue and so this is a great way to earn some extra cash.
3. Use technology to reduce administrative work.
Utilize technology to your advantage as much as possible. When it comes to administrative work, simple tasks should be taken care of through advanced technology. This will allow you and your dental staff to focus on giving your patients the high-quality care they deserve.
One specific area of technology that can help reduce your administrative work is your phone systems. If you don’t have a smartphone system, you are missing out on a ton of integrations that can make your workday easier.
Our partner, Mango Voice, has tons of the latest integrations that are provided to make your job more efficient and easy.
Are you ready to increase revenue at your practice?
Don’t waste any more time. If you want to increase revenue at your practice, simply ensure that your schedule doesn’t have any free time, you add new coveted services, and you are utilizing your technology to your advantage.
Don’t forget to check out Mango Voice for top-of-the-line integrations that will make your workday a lot easier.