On top of the usual challenges with owning and running a private dental practice, the current environment with Covid-19 and other volatile factors presents some new and unique ones. Per a national survey, almost 50% of dentists say their patient volume has decreased by more than 15% since reopening, and for many it’s been a lot more than that.
Questions dentists are asking themselves: Will I be able to bring back all of my patients, or are some gone for good? Will I be able to attract enough new patients to make up for the ones that are gone? How many people in my area have lost their jobs, are concerned about their finances, so dentistry is now a lower priority for them? How long will some people decide to stay away because of the virus? Does marketing work at all anymore, or are patients too distracted with everything else going on?
Then there are the staff issues. Many dentists lost staff in the aftermath of the shutdowns, and some practices have had difficulty replacing them. In some cases, additional staff have been needed to keep up the protocols, and finding these staff has been challenging. There is also the question of what to do if someone gets sick, how to stay open, and how to retain employees.
Obviously, there are increased costs for PPE and other necessary mitigation expenses. How do you make up for these costs, especially with having to limit the number of patients in the practice at one time, and needing to spread out your schedule for more stringent sanitization procedures?
Some dentists in private practice have gone down the route of selling out to big dental corporations as their only “solution”, or have at least seriously considered it.
But there is good news:
Practices that worked with us before Covid-19 hit have been able to come back rapidly, some of them even well above pre-Covid levels, while dealing with all of the above issues. Many of our client practices are reporting excellent numbers over the past few months, and the marketing strategies we had previously helped them implement are still working very well.
Practices we had started working with during and right after the shutdowns have reported very positive growth, that is continuing far beyond satisfying any “pent up demand” that may have existed.
What’s making the difference with these practices versus practices that are struggling?
Having the stability of our proven and established system (the Vanguard Blueprint) firmly in place – a system that has helped dentists weather recessions, natural disasters, and other societal upheavals, for more than three decades.
In every case, whenever we see a practice that is not providing the practice owner with the personal income and financial stability they desire, we find some element of our system missing or deficient. And this holds true in 2020, with everything we’ve been through.
Our system is presented in detail in our Vanguard Blueprint for Practice Prosperity Training Session (for more information, visit our Blueprint page).
If your financial situation and the future of your practice is causing you some concern, the answer is a practical, workable strategy to ensure you are set up to do as well as possible, now and in the months ahead. Our Blueprint for Practice Prosperity provides that answer – a proven system that has brought prosperity and financial stability to every one of our clients who has implemented it as laid out.
All the best,
Judy Marcus and Chris Marcus
PS: Implementing our Blueprint into your practice is economical, requires no travel, and when done correctly can produce noticeable and positive results – sometimes even in just weeks. Click here for more information on the Training Session.)