Case History: The Cure For Flat Revenue (general dentistry)
After years of success and hard work, Dr. Howard Babushkin noticed a disturbing trend in his general dentistry practice: practice revenue began flattening out, then began to decline.
"Flattening out" was bad enough; when his revenue began to actually decline, Dr. Babushkin came to Practice Builders for help.
Dr. Babushkin outlined several ambitious goals:
- To increase his practice revenue 25%
- Reduce his work schedule to 4 days per week
- Bring in new business to keep his associate busy and productive
- Keep the office open 5-6 days per week
- Position the practice as a boutique, spa-like dental office, with amenities including aromatherapy, reflexology and a subdued, calming atmosphere
Several obstacles had to be overcome first: the practice was in a very competitive marketplace (Manhattan), they were doing little marketing, and their patients were reluctant to spend out-of-pocket, tending to do only what insurance covered.
Practice Builders developed a comprehensive Marketing Plan to achieve Dr. Babushkin's goals, focusing on four areas:
Brand Identity
Market research showed Dr. Babushkin's practice was located in the middle of a neighborhood of young urban professionals. These prospects, who tend to pay cash and be more interested in elective procedures and receiving state-of-the-art care than in finding the lowest price, were just the kind of prospects Dr. Babushkin wanted to attract. It was simply a matter of motivating them to come in.
A new promotional practice brochure, tagline ("Total comfort. Platinum service. Leading-edge dentistry"), new marketing resumes for Dr. Babushkin and his associate, new stationery, a practice folder with inserts, a pass-along invitation and a new website all worked to show these ideal prospects the unique benefits of coming to Dr. Babushkin's practice.
Dr. Babushkin was already building a new, state-of-the-art dental office, so the practice was renamed "Manhattan Oasis Dentistry" to reflect his new capabilities.
Internal Marketing
Dr. Babushkin's staff was trained to track the source of every inquiry phone call. Practice Builders provided word-for-word scripts for the staff to maximize appointment bookings and conversions.
A welcome letter was developed and sent to all new patients along with the practice folder, new practice brochure and resume. These instilled high expectation and a sense of excitement in new patients, established an emotional connection between patients and Dr. Babushkin and his associate, and reduced "no-shows".
Both doctors and all staff members began to ask patients for referrals. This is one of the most effective internal marketing strategy for any practice — and it costs you nothing. Practice Builders trained the doctors and staff to listen for certain statements from patients that would allow them to ask for referrals in a completely natural, confident way.
Many of the new marketing materials were placed in the waiting room. Quarterly "golden nuggets" were emailed to all patients who had agreed to receive them.
External Marketing
Practice Builders developed 2 new Yellow Pages ads for placement in key directories.
All callers to the practice were directed to the new website for future consideration, even callers who did not make an appointment.
The practice's new website was registered with search engines, local Chamber of Commerce, and various associations. Their domain name was prominently featured on all marketing materials.
Staff Support
Practice Builders held a one-day on-site training program for all staff members. This included advanced phone skills training, an explanation of the marketing program and use of all the new marketing materials to grow the practice.
Results
One year later, Manhattan Oasis Dentistry's revenue had increased 20%. Patient volume increased so much, they had to refer some patients to other practices. Many patients complimented their marketing materials.
What was the key to Dr. Babushkin's success? He followed a custom-designed marketing plan created to achieve his own specific goals. That was the foundation for all his later success.
Practice Builders can professionally create a marketing plan for your practice, targeted to achieve your goals, meet your needs and build the more-rewarding practice you have always dreamed of.
We did it for Dr. Babushkin. We can do it for you, too.
Call us toll-free at 800.679.1262 now to discuss how Practice Builders proven marketing methods can achieve your goals for your practice.