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Patient Attraction Episode 967
Dentists’ earnings hit their all-time high in 2005, and it’s been downhill ever since. A new report suggests that earnings may finally be plateauing. But dentists aren’t going to grow their practices on stagnant earnings. When we come back, I’ll tell you the solution to lack of income growth. Stay tuned.
– Thanks for watching the Patient Attraction Podcast™.
– I’m Colin Receveur.
– Dentistry is a lucrative profession for most dentists, but the fact is that dentists’ incomes haven’t rebounded from the Great Recession.
– According to a December report, the unholy trio of increased competition, reduced demand, and declining reimbursements have taken a toll on incomes.
– However, the report did show that incomes were stable in 2015, suggesting that things may be turning around a bit.
– Dentists also report that they’re slightly busier than they were during the slackest times.
– This is encouraging, but as the report mentions, the fate of healthcare in this country, including dentistry, is up in the air.
– What’s worse is that some experts are predicting another recession in the next couple of years.
– Whether that happens remains to be seen, but the fate of your practice is too important to leave to chance.
– Increased competition, decreased demand, and declining reimbursements affect almost all dentists.
– I say “almost” because there are more than 550 dentists on three continents who are thriving in spite of everything.
– In fact, they’ve found a way to make those factors irrelevant to their success.
– They’ve shifted from chasing prospects through advertising to attracting the patients who will help them grow their incomes and their practices.
– How’s your wallet doing?
– Are you tired of getting beaten up by dental insurance companies, getting low-value patients and having to fight tooth and nail for new patients?
– Go to smartboxdentalmarketing.com/blueprint and schedule a Patient Attraction System Blueprint™ Session. They are reserved only for serious dentists who want to see a patient attraction system that can double their practice. You can get more patients, more profits, and more freedom.
– And the Patient Attraction System™ is backed by our industry-leading $10K Guarantee.
– Dr. Piyuse Das of Houston, Texas became a SmartBox dentist, and here’s what he reported.
– “We’re averaging about 135 to 140 patients a month…
– “… but the good thing is even though our new patient numbers have stayed the same, our revenue has increased by 15% with our total marketing cost going down by 25%.”
– Join me for our next podcast.
– Until tomorrow, keep moving forward.