Best Practices for Post-Recession Bounce-back: Dental Industry
To determine tips that realte to the recovery of the dental industry from recession.
While our research was not able to recover much information that talked specifically about the current situation, other than general best practices about what to do and how to address the patients, we were able to get some information specific to the dental industry from past recessions.
Offering Affordable Payment Options
- One of the biggest reasons patients opt-out of appointments or use dentists less frequently is because of the lack of money during and post-recession.
- During the 2009-2010 recession, a lot of "patients postponed more expensive procedures such as restorations in favor of less expensive preventative care", showing a 5% decrease in restorative procedures.
- As such, offering affordable payment plans and providing outside financing options would help customers' feel more comfortable using dentist services when their budget is tighter than normal.
- The practice would allow patients to restructure the fee through financing into smaller monthly increments, which is easier for those on tight budgets.
Focusing on Patient Retention
- As stated above, during the 2009-2010 recession, dentist saw a decrease in patient visits.
- To remedy that, dentist practices need to focus on implementing more efficient patient retention programs.
- One way to do that is to use a referral program that uses the regular customers as a way to promote your business.
- Being innovative and using cutting-edge technology is another factor that can help in customer retention, as patients always want to receive the best care possible.
- When it comes to the current situation, as "patients look to healthcare providers, such as dentists, for guidance, information and reassurance", it is important to remain positive and supportive in order to instill confidence in the practice and keep patients coming back.
Proposed next steps:
You need to be the project owner to select a next step.