5 Effective Tips to Boost the Revenue for Dental Services

Many dentists are making a lot of efforts to improve their skills and knowledge. They hope to provide better services and more efficient solutions for their patients. Nonetheless, you need more than just expertise if you wish to boost the revenue of your dental services.

There are many ways you can try to get more bookings and score higher revenues for your dental business. Here are some of the most useful tips:

 

• Provide Contactless Services

With the coronavirus pandemic still going on, people are getting more afraid to go to their dentists. They prefer staying at home to lower their chance of virus transmission. Considering how much exposure a person can be when going to the dental clinic, such a fear is understandable. Unfortunately, such a decision from a potential patient causes a dentist to lose their potential revenue.

As a solution, you can offer a dental service with minimized contact. Delete all the unnecessary exposure, such as dealing with administration forms and queueing. Transform all those things online, so your patients will need to come in person only for the treatment itself.

Start with an online booking for appointments, and then provide an e-form to fill in. Make a patient portal to help them find the service they need. If possible, conduct a pre-assessment virtually as well. And of course, online payments and satisfaction surveys will be a perfect finish for the whole experience.

Not only that the dental service with minimized contact can improve your patients’ confidence to book an appointment, but it also gives you a lower risk of getting contracted by the virus. It must be hard to resist such a win-win solution, right?

 

• Be Proactive and Engaging

 

Competitions between dental practices get even tighter. It will not be enough to just sit down in your clinic, waiting for a patient to visit. You need to be more proactive to boost the revenue of your dental services. Put up more effort to connect with your potential patients and attract them to your services.

There are many ways you can try to increase leads in your dental clinic, such as:

• Invest in advertisement
• Create an engaging blog and keep it updated regularly
• Create social media accounts and keep in touch with your audience
• Send targeted emails to your potential patients.
• Educate your patients about the benefits of treatment they are hesitant to take, as well as the risk they may get if not getting the said treatment
• Offer discounted rates for additional services

Bringing the offer right to your potential patients’ table will make them consider services they never did before. The trick is also useful in drawing people’s attention, so they will not check on your competitors. Be creative on how you can attract people to your dental services. But, be careful not to spam them too much because it will create resentment instead. 

 

• Financing Options

Many patients are reluctant to go to a dental clinic because they are worried about paying it. Sometimes, they need a service that is more than they can afford. Even with insurance, many people are hesitant about what and what is not under the coverage.

By providing financing options, patients may find a solution that works for them to afford the service. There are many dental loans and installment programs in the US. The more options you provide, the more patients you will be able to embrace. 

Indeed, having multiple financing options will give you more work on the bookkeeping. Itis, not a big deal because you can just hire a virtual bookkeeping service like NumberSquad. Furthermore, NumberSquad will also help you to review which financing programs benefit your dental practice the most. 

 

• Bookkeeping and Accounting Review

With so much work to do, many dentists have no time to keep track of their transactions. Meanwhile, knowing your credit and debit balance is crucial to boost the revenue of dental services. There are many things you can retract from your financial ledger, such as:

• Knowing which services are more efficient to generate profit
• Finding out which financing options are beneficial and which are giving a burden to your business
• Paying taxes is much simpler because the data is complete and well-organized

Reviewing your bookkeeping will give you insight on what strategy to apply to your dental practices the next month. If you are not sure how to conclude your ledger, you can ask a professional for it. NumberSquad provides virtual bookkeeping and accounting services that you can take advantage of. The service is much more affordable than hiring a full-time employee, but the results are just practical. 

 

• Tax Planning

Being a dentist with a business in dental practice comes with obligations to pay tax. The amount of money you need to pay depends on various things, including every decision and action you take in your small business plan. How much money you set aside for retirement, how much money you used for a clinic renovation, and many other things will result in a different tax calculation outcome.

Not having any estimation on your tax may give your business a financial burden if it turns out to be higher than your rough expectation. You also have the risk of paying your tax in the wrong amount. The calculation needs to be accurate. It is even better to plan a financial strategy to push down your tax obligation to the minimum amount and maximize the benefits you can get from your business.

NumberSquad can help you in this area. We have experts in bookkeeping and accounting who will also deal with all the taxes. Not only can we provide an accurate calculation, but we can also suggest a few ideas on how to get your leverage more in your favor. The whole process will be stress-free, yet the results would be much more advantageous for you.

With clever strategy and finance management, you can expect to generate higher returns from your dental practice. Our bookkeeping service will show you the differences between before and after implementing the tips mentioned above. You will be amazed by how easy it is to unlock your potential in your dentistry business!