Economic uncertainty has many businesses seeking ways to increase same-store growth without burning out their team. In part one of this two-part series on innovative ways to increase revenue, we asked dentists and dental service organization (DSO) executives to share their clinical initiatives.
In this article, we asked dental industry leaders to share the changes they made to streamline operations, increase capacity, and boost revenue.
New patient appointments within five days
When somebody finally remembers they need to make a dentist appointment, they typically want to be seen quickly.
"Ensuring you have reserved new patient slots within five days reduces no-shows and starts the patient off on the right foot," Bree Elliott, senior director of project management for InterDent, a DSO with more than 150 affiliated practices, said.
Extended hours
Another way to increase same-store revenue is to increase capacity.
"We've been hyperfocused on our scheduling templates, and the goal is to have multiple teams in the same practice. Right now, the average dental practice runs Monday to Thursday, the good ones are open five days, and the most productive practices are working six days. We do a lot of emergency dentistry and a lot of walk-in patients, so we have to be available," Dr. Alap Choksey, vice president of clinical services of North American Dental Group, which has about 300 affiliated practices, shared.
Fill scheduling gaps
Practice management technology can help fill gaps caused by last-minute cancellations.
"We use QuickFill in Denticon to identify patients who meet certain criteria -- such as they recently had a missed or canceled appointment or those who would like to come in sooner than they are scheduled for -- and then send a mass text letting them know we have an opening available," Elliott said.
"The first patient who responds is then booked in that time slot, and all other respondents receive an automated reply to let them know that the opening has been filled, which is very efficient," she said.
Many dental groups include their phone number in the automated reply, with a request to call the practice to schedule another convenient time.
Well-trained treatment coordinators
Many DSOs, including Dental Care Alliance, send new hires through a specialized training program designed to teach soft skills, psychology, and case acceptance techniques. Treatment coordinators learn how to take patients on the journey from insurance verification and welcoming them to the office to treatment plan presentation and available financing options.
Increase collections
There are many ways dentists and DSO executives are achieving same-store growth through a tighter focus on revenue cycle management (RCM). Dee Fischer, CEO of Fischer's Professional Group, ensures teams know how to use new RCM features that have been added to their practice management system, such as automated text-to-pay reminders with links that allow patients to pay online.
Dee Fischer.
Fischer also trains team members on the soft skills needed to politely and effectively discuss the fees associated with treatment, overcome concerns, and collect payment.
Using simple phrasing like, "We have a lot of options to help you fit the cost of the healthcare you need into your family budget," can make people feel more confident about accepting treatment.
Customized payment plans
Retailers, including Amazon, offer monthly installment payment plans, and people expect the same convenience for big-ticket items in healthcare. Advanced practice management systems have built-in or add-on features that allow you to create a customized payment plan for patients.
Allison Hale.
"We recently lost our payment coordinator and we didn't need to replace her because everything can be done through the automation suite in Cloud 9. We start patients with $200 down and then a monthly payment plan," Allison Hale, the chief operating officer (COO) of Parks Orthodontics, a private practice in Virginia, said.
Third-party financing options
"It's crucial to facilitate patient acceptance of treatment plans by providing them with financing options that break down the total cost into affordable monthly payments," Elliott stated.
"There are several third-party financing partners who can assist you in offering solutions that meet your patients' needs, including those with subprime credit scores," she added.
Card-on-file technology
Sophisticated practice management systems offer encrypted card-on-file capabilities, which enable practices to securely save a primary method of payment and a secondary method of payment for automatic payment plan withdrawals.
"We set up an automated process in Cloud 9 so if the payment doesn't go through, it automatically sends a text message and email to the patient to let them know there was a problem with the primary payment method and we're charging the backup method we have on file," Hale said.
Renegotiate reimbursements
When was the last time you negotiated fees with insurance carriers?
Thomas Passalacqua.
"We focused on getting a PPO rate adjustment for our providers," Thomas Passalacqua, director of business development of The Smilist Management, which has almost 100 affiliated locations, said.
Membership plans
Many dental practices and organizations have driven same-store growth by introducing a membership plan.
"We have a really solid membership model with Subscribili; it's now our second-highest segment of commercial payers, and our per-visit output on our membership model is much higher, by 20% to 25%,” Dr. Himesh Kana, chief marketing officer and managing partner of Dental Depot DFW (Dallas-Ft. Worth), said. Dental Depot has 37 doctor-owned practices.
Combining innovative strategies with a back-to-basics approach
Dental practices and groups have many levers they can pull to increase revenue. The secret is to measure where you are currently, set a reasonable goal, ensure everyone knows what they need to do to obtain it, and then track the impact of the changes you implement.
If you achieve the desired impact, then keep using the strategies. If they aren't effective, then receive feedback on why they didn't work and make the necessary adjustments.
The dental community is full of incredible leaders who are willing to share their knowledge. In this video, nine dentists and DSO executives share what they've implemented to increase same-store growth in their practices.
Beth Gaddis is the editor in chief at Planet DDS, a dental technology company specializing in cloud-based practice management systems, digital imaging, and dental marketing services. Previously, Gaddis was the marketing director for two large dental service organizations. Prior to entering the dental industry, Gaddis was a journalist for 16 years in a variety of roles, including as a TV news producer at the CBS affiliate in Boston. You can connect with Gaddis on LinkedIn.
The comments and observations expressed herein do not necessarily reflect the opinions of DrBicuspid.com, nor should they be construed as an endorsement or admonishment of any particular idea, vendor, or organization.
