Gems Publishing August 2018

9 Keys to Rapidly and Consistently Increasing New Patient Flow. Part III Precious Gems That Will Transform Your Practice By Dr. Tom “The Gems Guy” Orent

Without further ado, let’s dive into the “9 Keys to Rapidly and Consistently Increasing New Patient Flow and Adding at LEAST $150,000.00”

The last two editions of the “New Frontiers” newsletter have laid the foundation you need to maximize new patient flow. We discussed capacity and the fact that very few practices are truly at their limits — there are many more hours potentially available to schedule and often more operatory space to serve patients. Practices truly running at capacity are generating $3,000,000– $6,000,000 per year per location. 1. You have to consistently deploy at least 6–8 strategies simultaneously. 2. You need a barometer for your cost of acquisition. 3. ALL MARKETING IS A TEST. 4. It’s important to preframe expectations. 5. Using the 20/20/20 New Patient Exam will help you retain new patients and gain a higher acceptance of treatment while safeguarding your most valuable asset: your time. 6. You must have a system in place to track the source of every new patient. Each one of these 6 Gems is crucial to achieving tangible results from the “9 Keys to Rapidly and Consistently Increasing New Patient Flow and Adding at LEAST $150,000.00.” I strongly recommend you take the time with your team in your 90-minute internal staff meetings to review these two articles. You can find them by heading over to www.InsidersCircle.com. Click on “Site Map,” and under “Additional Resources” you’ll find a link labeled “Newsletters.” The June and July issues of “New Frontiers of Dental Practice Success” will have all the information you need to get the most out of this month’s edition. In our last issue, we explored “6 Marketing Gems You Can Take to the Bank” that will help prime the pump.

1. ‘071 Retreat Part III — How to Triple New Patient Referrals’

If you want to increase referrals, make it a priority to watch this video in the GG12 Monthly Team Training Toolkit. In order to understand the video’s reference to Cialdini’s moment of reciprocity and how it relates to your practice, you must first know your referral rate. An average one-doctor/one-hygienist practice has about 1,500 active patients (active patients defined as those who have had at least one visit in the last 18 months). Your referral rate is the percentage of those patients who are driving new patient referrals back to your practice during any given month. You can stimulate new patient flow from other sources, such as advertising, but your referral rate pertains directly to new patients who come from referrals. To illustrate this, you can follow along with the math I provide, but it’s important to apply this Gem directly to your practice by using your own numbers. Both of these scenarios are based on the traditional one-doctor/ one-hygienist practice with about 1,500 active patients.

Scenario 2:

Scenario 1:

• 1,500 active patients, 20 new patients

• 1,500 active patients, 60 new patients

– 6 came from outside sources

– 15 came from other sources such as a billboard, website, or advertising

– 14 are referrals

– 45 are referrals

• 14 / 1500 = 0.0093

• 45 / 1500 = 0.03

– Less than 1% monthly referral rate

– Your monthly referral rate is 3%

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