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Are Seniors a Viable Dental Market?

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Patient Attraction Episode 934

Recent research from the ADA suggests that the incidence of untreated dental cavities in patients age 65-plus has increased since 2004. After the break, I’ll be back to tell you why seniors in your market might be an untapped source of revenue. Stay tuned.

– Welcome to the Patient Attraction Podcast™.

– I’m Colin Receveur.

– According to an October release by the ADA, untreated dental caries in seniors is about 4 percent higher than it was in 2004.

– The reasons seem to come down to the fact that Medicare doesn’t cover most dental procedures.

– And that the vast majority of seniors are on fixed incomes.

– The first point is certainly valid, although for many people, the value of dental insurance is questionable.

– It’s common to get about a thousand dollars in coverage for an annual fee of several hundred dollars.

– Still, insurance can make the difference in whether someone calls your office or not.

– And seniors often don’t have dental insurance.

– The second point – that seniors are on fixed incomes – is debatable.

– After full retirement age, there are no restrictions on how much seniors can earn.

– So just like someone in their 30s who takes a second job, seniors in good health can also work for the things they want.

– Let’s say that you have a senior patient who needs 2 teeth replaced.

– You quote a total cost of 10,000 dollars for 2 implants and restorations, just to pick a figure.

– Their immediate reaction is, “I don’t have that kind of money!”

– But if you offer low- or no-interest payment plans, they can easily earn that money.

– Working half-time at 10 dollars an hour, seniors can earn a little more than 10,000 dollars in a year before taxes.

– So, a healthy senior could pay off those 2 implants in a little more than a year.

– I’m not suggesting that we send a generation of seniors back to work.

– I am suggesting that many seniors without dental insurance have options to pay for the work they need.

– And that makes them a potentially profitable market for you, if your marketing makes it clear that you have pay-over-time options.

– Going a little wider with this idea, don’t be too quick to dismiss the notion that a certain demographic can’t afford you.

– History has shown that if people really want something, they’ll often find a way to get it.

– Join me for our next podcast.

– Until then, keep moving forward.

READY TO THRIVE?

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