In-House Patient Plans

 

 

 

Many dental practices look at credentialing with insurance companies as a way to attract patients, but there are other ways that dental practices can increase and grow their patient base. One of those is through in-house patient plans. On today’s episode of Beyond Bitewings, the team welcomes Katie Franklin, Program Director for Smile Advantage.

Smile Advantage helps dental practices implement and run in-house patient plans, and Katie is discussing why every dental practice should consider adding one as a resource for their patients. Not only are these plans attractive to those who may not have insurance, Katie has also found that even those with insurance many times take advantage of these plans.

Katie and the Edwards & Associates team also discuss what type of typical benefits are offered with in-house patient plans, what goes into implementing them and the costs involved, how to get the whole team on board, and why these plans don’t make sense in some cases.

If you’ve been considering implementing an in-house patient plan for your office and would like to talk to Katie, reach out to her at (314) 885-4640, or email her at katie@smileadvantage.com Or learn more by visiting: mysmileadvantage.com

If you’d like to have your question answered on a future podcast, contact Edwards & Associates. Or contact any one of the excellent ADCPA affiliates across the nation at www.ADCPA.org

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Beyond Bitewings: How To Hire the Right Dental Staff

“I have to hire dental staff.” Hiring can be a challenging event for any dental office, and it may sometimes feel like a hit or a miss when it comes to finding the right staff. However, it doesn’t have to be such a burden or a guessing game.

In this episode of Beyond Bitewings, the Edwards & Associates team welcomes Linda Allen, a Management Consultant for dental practices across the nation. Linda focuses on helping dental offices hire the right dental staff and guides them in creating atmospheres and opportunities to help keep those valuable team members onboard.

Linda discusses the current challenges with staffing for dental offices in addition to specific issues that have arisen because of COVID. She also talks about what to look for in potential staff members to make the absolute best hire.

This episode features discussion on topics like developing great interview questions, the importance of a working interview, understanding how to lead a team, plus so much more. If you’re looking for ways to hire smarter and build a better team, this is the episode for you.

Have a question? Contact Edwards & Associates to get your question answered and possibly featured in a future podcast. Or contact an ADCPA affiliate at ADCPA.org.

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How’s Your Dental Practice Doing?

Now that tax returns or extension applications are off to the IRS, increasing profits and managing overhead in today’s dental world of higher competition, lower dental insurance reimbursement and sluggish dental consumer spending is imperative.  Here are some things to consider that can provide more money in your pocket by the end of this year.

Review your procedure mix on both a Macro and a Micro level. This takes a little number crunching. Run a 12-month production report of all of the procedures done categorized by ADA code and provider.  Is your practice within the profitability ranges below?

Hygiene perio procedures total (those ADA codes in 4000) should be at least 30 percent of each hygienist’s total production (unless you are Pedo)

Dentist’s prosthodontic procedures need to be 50-75 percent of his/her production.

Increase Treatment Acceptance. Every year, you and your entire team should take a course or bring a trainer in to take your treatment acceptance up a notch or two. Increasing treatment acceptance of what you diagnose is a boost to profitability. Treatment acceptance processes and communication skills are NOT something you get in one or two courses. In fact, for the dental professional it requires a lifelong learning journey.

The COL (Cost of Living) percentage for this past year was only .8 percent (BLS CPI YE 2014). Most practices are going to a bonus system and doing away with automatic raises. Here is where your staff salaries as a percentage of your collections for the year should fall:

Dental General Practice Staff Overhead Model*

Business Salaries:  7-9%

Chairside Salaries: 7-9%

Hygiene Salaries: 4-9%

Increase new patient flow and patient retention. Truly look at your recall percentage and see if you have lost patients who are wandering around ripe for picking by other practices. Close any leaks in recall retention by looking deep into the administrative, customer service and clinical components of recall.

Know how many new patients you had, and then decide how many more you need to bring your profits up. Remember: New Patients ARE the lifeblood of your practice. Then, create a marketing plan with a professional who can help you increase the number of new patients.

If you want to develop your treatment presentation skills, call us to schedule a consultation with one of our practice management consultants.