Matthew Loughran a best selling author and digital marketing industry expert has recently launched Dental Marketing Management a boutique dental marketing firm with the sole objective to help dentists optimize patient acquisition. A sought-after customer acquisition specialist Loughran’s agency challenges dentists to understand not all patients are created equal when it comes practice profitability.
Dental Marketing Management has developed the I.D. – P.A.S, the Integrated Dental Patient Acquisition System. This system takes the stressful process of patient acquisition off of the dental practice and into the hands of marketing experts. The system was created to optimize the mix of patients a dental practice services to ensure there is a steady flow of net revenue. Dental practices that only service private pay patients are at risk for the sharpest decline in revenue as was seen in the last economic downturn but on the other hand practices that only service insurance based customers for cleanings are forced to run businesses on very tight margins. “For a dental practice to maximize profitability and also mitigate risk they need a patient mix that satisfies both silos of consumers” added Loughran.
Loughran describes there are typically two types of dental patients, those who are looking for a provider solely on price and those seeking the best quality of service. The patients that are looking for quality are shopping for trust, Dental Marketing Management has proprietary systems in place to build, enhance and market that trust to attract the profitable patient mix.
When dentists do not focus on the right patient mix they find themselves in a business that requires massive volume of low margin patients to be successful. When running an operation like this dentists find themselves too busy to provide the level of chairside attention their patients crave. By not establishing that trust the dental practice tends to operate like a leaky bucket with less repeat patients and the stress cycle continues. In this situation, patients are more likely to give bad reviews. The bad reviews limit the type of clientele a dentist can attract. That is why having the right patient mix optimization is key for building and maintaining a successful practice.
By the way, if you are looking for more information or a demo of the Integrated Dental Patient Acquisition System please visit http://dentalmarketingmanagement.com/ or call (813) 393-1444.