Episode 37 - Data-Driven Dentistry with Steven Jensen
Aug 28, 2024
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In this discussion, Steven Jensen, VP of Business Development at Dental Intelligence, shares insights into the evolving dental industry. He dives into the impact of COVID-19 on practices, revealing rising cancellation rates and the importance of integrating specialty services. Jensen emphasizes the necessity of data-driven decisions, discussing strategies for boosting patient retention and the critical role of tracking KPIs. He also highlights effective patient confirmation strategies and how personalized communication enhances engagement and appointment turnout.
Rising appointment cancellations in dental practices post-COVID necessitate proactive strategies and improved patient communication to mitigate their impact.
A strong focus on hygiene reappointment rates can significantly enhance financial performance and patient retention in dental practices.
Deep dives
Trends in Patient Behavior Post-COVID
Cancellations and no-shows have significantly increased in dental practices since COVID, rising from 6-7% pre-pandemic to an average of 14-15% currently. This trend reflects broader societal changes in how appointments are perceived, making it more acceptable for patients to cancel. It prompts dental practices to adopt proactive strategies, such as improved cancellation policies and patient communication, to mitigate the impact of these cancellations. Understanding this trend is crucial, as practices must adapt to maintain their schedules despite the rising prevalence of appointment cancellations.
The Importance of Patient Retention
Hygiene reappointment rates emerge as a critical metric for dental practice success, correlating strongly with financial performance and overall patient satisfaction. A practice’s ability to schedule patients for their next hygiene appointment before they leave can indicate their likelihood of healthy collections and case acceptance. Successful practices often aim for a target of 90% reappointment rates, emphasizing the significance of retaining existing patients over merely acquiring new ones. By focusing on reappointment strategies, practices can enhance their stability and growth potential.
Adapting to Market Changes in Dentistry
The dental industry is witnessing a shift towards higher treatment presentations per exam, with averages increasing from $1,400 to over $1,600. Despite this trend, case acceptance has been declining, potentially due to changes in patient spending behavior as economic pressures rise. As patient budgets are strained, dental practices must adapt their approaches to attract and retain patients, ensuring their offerings align with changing economic realities. This adaptation includes integrating specialty services into general practices to capture a broader range of patient needs and improve case acceptance.
Join Matt and Andrew in a deep dive with Steven Jensen, VP of Business Development at Dental Intelligence, as they explore the evolving landscape of the dental industry. Discover key data trends shaping practices, from rising cancellations to the integration of specialty services. Uncover the power of data-driven decisions, patient retention strategies, and the crucial role of tracking KPIs for practice success.
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