Having trouble watching this video? Click here.
Patient Attraction Episode 855
In yesterday’s podcast, I told you about the trifecta of dental competition – new dental graduates and dentists delaying retirement, corporate dentistry, and large group practices. Today, I’m going to dig a little deeper into why larger practices are becoming more common and what that means for you. Stay tuned.
– I’m Colin Receveur, founder and CEO of SmartBox Web Marketing.
– Thanks for watching the Patient Attraction Podcast™.
– Here’s some interesting news from the ADA’s Health Policy Institute.
– Between 2008 and 2012, the total number of people working in very small dental practices – less than 20 people – stayed pretty much the same.
– In the same time frame, practices with 20-99 employees grew by more than 10 percent.
– Large practices with 100 to 499 people increased their employment by nearly a third.
– And even practices with more than 500 employees had employment growth over 20 percent.
– The writing is definitely on the wall, and you should read it carefully.
– Because those latest figures are nearly four years old, and you can bet that things have gotten even worse for the one- or two-dentist practices.
– Dentistry is “going big” through mergers and acquisitions, and the rise of corporate dentistry is adding fuel to the fire.
– Depending on your market, larger practices are your competition now, or they will be in the near future.
– They’re going to take your new dental patients, and even some of your current ones.
– How are you going to meet that challenge?
– Because when it comes to advertising, the large practices can do what you do AND do a lot more of it.
– You can keep throwing marketing dollars at your competition, but the odds are good that it won’t work well enough.
– And like anything, you’ll reach a point of diminishing returns.
– It’s time to do something different to get the patients who will help you grow your practice.
– The patients who aren’t driven by price but instead want a dentist they can trust and relate to.
– Those are the patients who stay, pay, and refer.
– If you’re not getting the new dental patients you want, check out my book “Attract More Patients in the Next 6 Months Than in the Past 6 Years.”
– The book is the culmination of all my marketing expertise, and it can be yours for only the $4.97 cost of shipping at www.MoreAndBetterPatients.com while supplies last.
– There’s a new way to get the patients you want, and the book will tell you how to do it.
– Or, you can contact SmartBox Web Marketing.
– We work with more than 550 dentists on three continents to help them get more patients, more profits, and more freedom.
– And we can do the same for you.
– One thing’s for sure – if you keep doing what you’ve always done, you’ll get less and less as time goes on.
– Tune in to our next podcast.
– Until then, keep moving forward.