Why Small Practice Dentists Will Regret This Boom Economy If They Don't Act Now
Dental Service Organizations (DSOs) are the future of dentistry in the US, only small practices that prepare now will survive.
NEW YORK, Aug. 9, 2018 /PRNewswire/ -- "There's a hidden rot eating at the foundations of small practice dentistry in the US and the current boom economy is throwing fuel on the fire. Small practice owners that don't act now risk becoming 'corporate drones' of DSOs overtaking territories," says Wealthy Dentist Marketing founder, Murray Hughes.
The American Dental Association found DSOs have a yearly growth rate of 13-14 percent while solo small practices are shrinking at 7 percent per year. The number of dentists working as 'corporate drones' in DSOs grew 12 percent in just 12 months from 2015-2016. The Borg are coming!
DSOs grow quickly because their operations are highly systemized. They can activate ready-to-go promotional campaigns at will and then absorb the sudden increased patient load seamlessly. In the current economic conditions, they will grow rapidly.
Small practices tend not to have ready-to-go promotional campaigns and struggle with sudden increased patient load.
This contrast is explained by the under-reliance on systems in small dental practices. Or in other words, small practices are run by people, whereas, DSOs are run by systems.
Without an executive level of management, it's challenging for small practice owners to find the time to systemize their business. They also lack the experience, since they're trained as medical professionals, not business executives.
The workaround for small practice owners is to comprehensively systemize a handful of high-yield processes to dominate the local marketplace, even against DSOs.
For example, develop a reliable system for increasing the number of highly profitable treatments performed monthly, like dental implants. Others are automated systems for dominating the reviews and ratings for a region (reputation management) to attract the bulk of walk-in patients or using an automated-webinar system for perpetual expert-positioning and branding.
Working with a provider specializing in dental practice marketing systems, such as www.WealthyDentistMarketing.com, can shortcut the road to results and keep small practices competitive against rapidly growing DSOs.
The founder of Wealthy Dentist Marketing, Murray Hughes, has an impressive track record as a very successful online direct marketer. He created his service when he saw most dentists have as much as 35% of untapped revenue in their practices, remaining latent because of poor systemization, particularly of marketing and prospect-nurturing processes.
Media contact:
Murray Hughes
[email protected]
+61466994924
SOURCE Wealthy Dentist Marketing
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