Let’s talk about the most profitable dental services at your practice. It’s always better to understand the financial health of your business and then strategize to bring more cash flow to the practice.
Unless you are just starting out, you would know that not all dental services are the same. Some of the most profitable dental services disproportionately bring in more business, repeat customers, and the potential for greater value addition.
The fact is, a dental practice is a business, and like any other business, it has to remain profitable and continue to grow. Higher profits steadily improve the net worth of your practice.
One of the easiest ways to increase profits at your practice is to perform more of your money-making services. But first, you must identify the most profitable dental services, and then systematically market them to your patient base.
I’ve taken the time to conduct research on the top performing dental procedures, and listed them below along with the best ways to market them.
Marketing your 4 most profitable dental services
In a social media-led world where selfies are constantly seeking peer approval, is it any surprise that cosmetic dentistry is one of the most profitable dental services? From implants to veneers to dental crowns, patients are asking for cosmetic dental procedures to rectify both functional and aesthetic imperfections. As more and more people want to look better and have a perfect smile, it’s becoming a highly profitable avenue for dental practices.
Best way to market this procedure: Direct mail marketing
No patient looks forward to them, but root canals bring in substantial revenue for dental practices. On the plus side, root canals have become less painful as dentists have figured out efficient ways to perform this procedure. Thus, when you complete this procedure as painlessly as possible for patients, you’ll be able to develop a desirable brand equity as the right dentist to see and the best place to go for root canal treatments.
Best way to market this procedure: Google My Business (GMB) page
In today’s day and age, it seems like the majority of dental practices are offering teeth whitening treatments. If yours is among those practices not taking advantage of this treatment, you’re letting thousands of dollars slip through the pipeline. Teeth whitening is fast and devoid of any significant pain. More importantly, they are one of the easiest dental procedures to market, especially to existing patients. Another advantage of this high-margin treatment is that patients typically love to share their results on social media.
Best way to market this procedure: Facebook and Instagram
A booming aesthetic procedure in orthodontics, Invisalign fitting and maintenance is a profitable revenue stream for dental practices. As it makes patients feel less self-conscious, more adults are opting for Invisalign to improve the appearance of their teeth and to perfect their smiles. It’s also popular among teenagers who prefer them to traditional braces. Plus, when you offer financing options, you’ll have a higher rate on closing on treatment.
Best way to market this procedure: Video marketing on your website
Increase dental practice revenue
To increase dental practice revenue without having to disrupt your business, one of the best tactics is to focus on your most profitable dental services. Such as the ones listed above.
Marketing should be aimed at both new, and more importantly, existing patients. Concentrate on the possibilities of up-selling and cross-selling services to current patients through the optimal use of social media and other cost-effective, marketing-based platforms.
Given these are all procedures you already perform at your practice, all it takes is strategizing your approach, and then moving forward by executing it. To learn more about how to create a sure proof plan of action, reach out to the experts at Conversion Whale by visiting www.conversionwhale.com.