1.19.18 Issue #828 info@mckenziemgmt.com 1-877-777-6151 Forward This Newsletter
 


Nancy Caudill
Senior Consultant
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Why New Patients Are So Important to Your Success
By Nancy Caudill, Senior Consultant

Dentist Case Study #489

The Doctor’s Concerns: “After working with McKenzie Management to improve case acceptance and recall, my practice has grown significantly in the last year. More patients are going forward with the treatment I recommend, which has given the practice a huge boost financially. The problem is, production has started to slow down over the last six months or so. I need to find a way to increase practice production again so I can continue to reach my financial goals.”

After having so much initial success, this doctor was frustrated to see practice production start to slow down. He had no idea why it was happening, so he turned to McKenzie Management again for guidance.

To get a better feel for this practice, let’s take a look at the statistics both before working with McKenzie Management and after:

Before:
-The practice saw $75,000 a month in collections
-The doctor brought in an average of $4,750 a day in gross production
-Hygienists averaged $1,750 a day with an assistant
-24 new comprehensive patients visited the practice every month
-The practice collected 94% of net production

The first six months after working with McKenzie Management:
-Collections increased about 35%
-The doctor’s daily gross production average increased 28%
-The hygienists no longer needed an assistant, and began to exceed their new goal of $1,600 a day in gross production
- 30 new patients visited the practice each month
-The practice began collecting 108% of net production

Not bad, right? Unfortunately, the practice began to see a decline in production in the second half of the year.

Here are the numbers for the next six months:
-Collections only increased by 3%
-The doctor’s daily average production only increased by 1%
-Hygienists experienced a 5% decrease in daily production
-The number of new patients coming to the practice decreased by 25%
-While the practice still collected 108% of net production, part of that was old debt from the previous year

Why the Decline?
Like our doctor, you’re probably wondering what happened. Let’s break it down. After receiving professional help from McKenzie Management, the doctor learned how to get patients to say yes to recommended treatment. He improved patient education efforts and hired a Treatment Coordinator to handle case presentations for all producers in the practice. The coordinator also followed up with every patient to address any lingering concerns. This all led to a fuller schedule and more productive practice.

Patients were finally accepting treatment, but after about six months, there was no additional treatment to diagnose. So while they returned to the practice for their routine hygiene visits and periodontal maintenance appointments, current patients had no need for any other treatment.

The other problem? The dentist wasn’t investing much in marketing, which meant the practice wasn’t attracting new patients. The number of new patients visiting the practice began to decline, further limiting the amount of treatment the doctor could diagnose.

Because the practice developed a strong recall system with the help of McKenzie Management, hygiene production only saw a slight decrease and still provided the doctor with steady, dependable income. Still, it wasn’t enough to maintain the production levels the practice had achieved earlier in the year. Once all existing patients completed their treatment plans, only emergency patients and new patients were left for the doctor to treat. Fewer new patients were coming through the doors each month, so of course production numbers, and revenues, began to fall.

The Fix
We sat down with this doctor again to determine the best way to attract more new patients to his practice and ultimately increase production numbers. Together, we decided it was time to focus more on marketing. Like most dentists, he wasn’t comfortable developing a marketing plan on his own, so he opted to invest 4% of his collections into a direct marketing campaign with a well-respected national company that specialized in dentistry. Instead of relying on one-time promotions and word-of-mouth referrals like he had in the past, this doctor now has a targeted campaign that’s designed to keep a steady flow of new patients coming to his practice each month.

With his new-found dedication to marketing, our doctor is once again seeing about 30 new patients a month. He’s continued to use the techniques he learned from McKenzie Management to improve case acceptance numbers as well as recall, and is enjoying high production rates once again.

Find out how a tailored marketing campaign can benefit your practice – take our free Marketing Assessment HERE.

If you would like more information on how McKenzie's Consulting Coaching Programs can help you implement proven strategies, email info@mckenziemgmt.com

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