Dental companies are not regular businesses so do not follow business models and strategies that other businesses do. These dental companies need to benchmark their practices in a different manner that takes into account the philanthropic need for their patient. There are several strategies that a dental company can follow for boosting its revenues. Few of these are mentioned below:

Patient Financing

There is a lack of structural management when it comes to financing options for these dental companies and the responsibility thereby is given to third party lending companies such as credit care. This is why most dentists lose money on patient financing and therefore they prefer in-house patient financing options these days.

Tooth decay & gum disease are common problems which affect people throughout the globe. As a result, people need to make frequent visits to the dentists for the treatments. But the problem is that the dental treatments without discount plans are very expensive. Even opting for an insurance plan might not help. Infact they make them expensive. As a result, patients need discount plans to ease the financial challenge.

 

But to find cost effective dental treatments, most people end up having dental insurance. But that does not solve the issue too. First, it is not very cost effective plus it can not be availed by anyone. Moreover, when you contact your insurance companies for coverage, you find that many treatments are not covered by dental insurance. And you find yourself stuck.

 

So what’s the solution – Low cost dental plans, also called private dental plans.

What is a Private dental plan?

Private dental plans are designed for individuals, groups, and families who, by enrolling in private dental plans, can get themselves medically secured and save costs by paying a small monthly payment. When patients enroll in a dental plan, they only need to pay a small or even no cost for a set of treatments.

What is the difference between private dental plans and insurance plans?

http://www.medloft.comFor a dental insurance plan, the patient needs to apply for it. Then the insurance company would approve or disapprove the case. But the trouble with dental insurance is that the company could deny, who could be a potential customer for your practice. The premiums are very high as compared to private dental plans. Over that, dental insurance plans have annual limit and deductibles, limiting the benefits you can derive & making dental insurance useless.

All these problems are not existent for patients who enroll in private dental plans. Patients get treatments at discount price. You get coverage for treatments that might not be covered under dental insurance.

Dentistry is not only about the technical aspects of tooth, but is a lot more. It takes a lot of planning & execution of several management principles to gain control over the operational & financial challenges. This article will touch upon some of the major blocks for dentists & what you can do so that these obstacles don’t come in your way.

1. Failed Marketing Efforts

The best and most trust worthy marketing is the word of mouth. If you have a good public image, you don’t need to invest too much to market your practice. But depending on word of mouth would not be safe for all. Thus you have to advertise in the initial years until you build your brand and become a key opinion leader.

Starting a new dental practice takes a lot of planning and forethought. Of course, patience too! You cannot expect to be successful overnight. To be successful, you need to hire right people, have the right instruments and figure out the right financing options for the patients. Here are some tips that can help you plan a successful dental practice: The Importance Of Precision Tools Dental instruments are the biggest investments a dentist can...

Many patients who have a dental problem firstly get scared of visiting the dentist and then the thought of huge bills deters them from visiting the dentist. Although the dental problem is not always urgent, a patient might want to delay or ignore the procedure. But what about the urgent scenarios? There are times when the patient needs to undergo the treatments immediately. What does the patient do then?

Dental financing…the best way!

Just as in today’s world, you can take a loan to pay for anything you wish to buy, there are third party companies who finance you for your dental procedures. When you finance patients, you as dentists don’t need to worry about the total costs too much. Even if it is a bill more than your competitors would charge your patient, it does not matter much unless you let them pay in small monthly payments.

A good website for a medical practice serves two major purposes. First, it creates an online presence for the dentist so that the patient can find you in the online world. Second, it creates an emotional connect with your prospect patients. This emotional connect should leave a feeling in the mind of the patient that this dentist can solve the problem for which the patient has visited the website. Take the...

Have you ever wondered how tech startups could be worth so much? Back in 2014, WhatsApp was bought out by Facebook for close to $22 Billion! It turns out that their yearly revenue for that year was only $10.2 million! So why is it like this? Part of the reason turns out to be potential customers. WhatsApp had 450 million users at the time of purchase. As of January 2017,...

To run a successful dental practice, it's important to attract new dental patients, but retaining old patients are also equally important as new. Fortunately, there are a few ways that not only keep your patients coming back but also increase the number of referral patients. #1. Build Strong Relationship with patients To build a relationship, it is important to know more about your patients like treatment process, hobbies, family, or other interests...

Are you planning to buy a dental practice? If you belong to this field, you know this is a big investment. Buying a dental practice for yourself can be very expensive, and you’ll want to make sure you have a solid business plan in place before you make the final purchase. Learn how to handle dental financing options, five tips you should know before buying a dental practice. 1: Reliable Cash...