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Those Dangerous New Dental Grads

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Patient Attraction Episode 810

Most new dental school grads have a boatload of debt, and that poses a double danger you might not have thought about. I’ll be back after the break to tell you why you should be concerned and what your best threat-management strategy is.

– Welcome to the Patient Attraction Podcast.

– I’m Colin Receveur, founder and CEO of SmartBox Web Marketing.

– Today’s new dental school grads are often struggling under a mountain of debt.

– A recent article in ADA News gave the average cost of dental school as of the 2014-2015 academic year.

– Including all tuition and fees, the average cost for dental school was between $217,000 and $288,000, depending on residency status.

– What that means is that new grads have no choice but to hit the ground running.

– That urgency poses a two-sided threat for established dental practices.

– One is an upsurge in new solo practices, because these new grads can’t afford to waste time.

– But that depends on each new dentist’s personal resources and ability to secure a substantial line of credit.

– A more serious threat is all the new dental school grads joining corporate dentistry.

– An April 2015 article in Dentistry IQ stated, [start quote] “It has been and continues to be a trend for doctors to join a corporate structure right out of dental school.” [end quote]

– These debt-laden new doctors are grist for the corporate mill, and that’s one of the greatest threats facing established practices.

– Corporate practices have deeper pockets than you do.

– They can price-cut you to death and out-advertise you easily.

– And because their costs are lower, they can weather declining reimbursements better.

– Basically, corporate is coming for your dental patients.

– But there is a solution.

– Our industry-leading Patient Attraction SystemTM can help you double your practice growth.

– If that sounds like something you want, visit smartboxdentalmarketing.com to learn more.

– Join me for tomorrow’s podcast.

– Until then, keep moving forward.

READY TO THRIVE?

If you’re ready to begin getting the only result that matters from your marketing - more and better patients in your chairs - get started today and schedule your Practice Discovery Session™. They’re free to serious dentists who want to see a Patient Attraction System™ that can double or even triple their practice.