North Texas Dentistry Volume 7 Issue 4 NTD 2017 ISSUE 4 CONV DE | Page 25

P R O F I L E KEEPING YOUR PRACTICE RELEVANT IN A HIGHLY COMPETITIVE MARKET Let’s face it – the North Texas dental community is highly com- petitive. Whether you operate a general practice or a specialty practice, there’s plenty of competition in your immediate area. In addition to the number of start-up offices, the influx of cor- porate practices has made it crucial for a private practitioner to keep their practice relevant. The goal of the established practitioner is to create a practice environment where staff can be proud of their office and patients can feel welcome, well cared for, and comfortable. This requires the office to have attributes which allow patients and staff to be active ambassadors of the practice. Whether you are preparing your practice for a sale in the near future or if you simply want to stay competitive, here are some strategies that might help in this ever-present task of staying relevant and continuing to build your brand. Practice Reputation. All dentists desire to achieve an excellent reputation for their practice. In the business world, this is called “goodwill.” Goodwill is what brings patients back to your prac- tice year after year, and what generates additional patients through referrals. Goodwill is the sum of many practice attrib- utes including the dentist, their staff, the facility, practice philosophy and treatment. Making the most of every patient contact is a vital part in creat- ing and enhancing goodwill. The receptionist, assistant or hygienist who greets the patient with a voice of familiarity, com- passion and genuine interest significantly enhances practice goodwill. Remember that on average, a patient spends more interactive time with staff members than with the practitioner. Facility Condition. First impressions are even more important today in this competitive world. Be the patient and walk through your practice as a patient does every day. Is the reception room in need of paint? Is the furniture worn and/or outdated? How does the business office look from the reception room? If clut- ter, trash, soda cans, papers everywhere is what a patient will see, then that’s not creating the image you need today. Active Patient Base and Active Hygiene. The old saying is, “You need more new patients coming in the front door than are leaving through the back door.” Keep that in mind every day. Remember that every day is a day to keep a patient of record or to send them on their way to another office. The best indicator for patient retention is hygiene activity. Strong hygiene is accomplished with dedicated, long-tenured hygienists. We’ve transitioned practices where hygienists are now working for their third owner! Patients are just as loyal to staff, especially hygiene, as to the owner. Therefore, find quality staff (especially hygien- ists) and retain them. Keep in mind that patients need to be given a reason to leave, not a reason to stay. Creating a Relationship-based Practice. The trend in many offices today is to actively and sometimes aggressively promote dental enhancements and technology rather than maintaining traditional, patient-centered care. We all want to promote our practice as being advanced, but keep in mind that an overly assertive campaign to promote these “new techniques” can backfire. Patients perceive quite astutely when the emphasis turns away from their care in favor of your care. Dan and Aaron Lewis of Lewis Health Profession Services, Inc., have specialized in dental practice sales, appraisals and tran- sition structuring for North Texas dentists since 1982. Having served approximately 2,000 clients, LHPS has appraised more than 1,800 professional practices and been involved in the sale of over 1,000 dental practices. Lewis Health Profession Services prides itself on transparency and integrity throughout the transaction, with a very “hands- on” approach. LHPS represents one party in each transaction, but works to ensure all parties are satisfied with the outcome. Dan and Aaron Lewis go beyond the typical brokerage firm to provide all services necessary to sell the practice and work to get the most value out of your investment. Lewis Health Profession Services, Inc. 101 W Renner Rd., Suite 165, Richardson, TX 75082 [phone] [email protected] www.lewishealth.com www.northtexasdentistry.com | NORTH TEXAS DENTISTRY 25