Attracting New Patients Is More Important Than Ever

Starting towards the end of 2014 and continuing into 2015, there has been a significant increase in the amount of active patients in the dental marketplace. Two factors seem to be driving this trend: higher employment rates; and the introduction of the Affordable Care Act (ACA). Both of these catalysts mean there are a significant number of people who now have insurance and are looking for service. The graph below is a representation created by Sikka Software displaying the increase in amount of active patients.
Looking at the graph above, how does that impact how you understand your local dental market, find new opportunities for revenue, and more importantly ways to grow your business? An increase in the number of active patients can also mean that there are fewer cash patients. Cash patients are valuable to a practice because patient production revenue is realized much quicker and more directly, as opposed to dealing with the insurance providers. The graph below displays the number of cash patients compared to insured patients from 2012-2015.
What does this all mean? Cash patients as opposed to insured patients would mean that a dental practice is making less based on adjustments. You need to put an emphasis on adding new patients to increase revenue. Don’t miss out on future patients; UIC Dental is available when those patients call looking for you. The data clearly shows there are more people looking for service. UIC Dental positions you to realize every possible opportunity you can!

Turnover Can Cost You More Than You Expected

Do you track the turnover rate for front-office staff positions at your practice? How often do you find yourself filling those positions on the front lines? Dental practice owners may not fully understand the true costs when replacing an office staff member. Indeed, it can be very costly to replace employees because productivity suffers. It is going to cost your practice money to hire, train, and accept a slower productive day to get the new employees up to speed. Heather Boushey and Sarah Jane Glynn from the American Center for Progress stated:

“The typical cost of turnover for positions earning less than $30,000 annually is 16 percent of an employee’s annual salary.”

There are two ways that the UIC Dental service will benefit your practice in relation to turnover. For one, by offloading some of the phone calls that come into the practice, you are reducing some of the stress and juggling that a front-office staffer has to deal with on a day-to-day basis. Have you ever watched your front office deal with patients checking in, checking out, and the phone ringing all at the same time?

The second way UIC Dental shines with regard to turnover and training is that once your service is up and running- you never have to train us again! Our managed service concept means that we constantly train our staff, and review their performance.