BY JANE KOLLMER
Most orthodontic practice owners want the secrets to driving revenue quickly, but there is no one key to success. But there are ways to save money, attract new patients, and manage financials efficiently. Fortunately, there is software that can help you do just that.
Practice management software is getting more robust, with tools that go beyond tracking patient records, storing images, and scheduling appointments. The following are ideas a new practice can use to leverage practice management software to grow their business.
Use software that can manage billing and process insurance claims. Many offer financial tools to manage the billing process so that private pay and insurance claims can be processed quickly. These tools can be a lifesaver for those offices that struggle to manage billing well and may be subject to a high delinquency rate of collections. Practices simply can’t afford to make mistakes because the consequences can affect their bottom line. If these additional features of the software are a mystery, ask the vendor or trainer for a demonstration of these capabilities.
Use tracking and reporting to transform prospective patients into new starts. For orthodontics, it’s all about maximizing every patient opportunity. Software can help by giving you the tools for tracking and reporting interactions with patients. It accounts for various situations and sorts patients by status, such as evaluation, observation, pending, active, and retention. This way, you can easily identify new starts to follow up with and ultimately bolster your conversion ratio.
Get the most out of marketing. New patients are the lifeblood of your business. Practice management software makes this easier by tracking where your referrals come from, whether by dentists, or a website, social media, or an external referral source. Tracking the source of new patients can help optimize marketing tactics. Pay attention to how patients hear about the practice and evaluate the results in order to learn new insights about what works best.
Provide a quality patient experience and ask patients to leave reviews. Patients are also customers and their opinions can influence others. Ask them to write reviews. Most people looking for an orthodontist will begin their search on Google. Prospective patients are looking at every aspect of the practice when deciding whether it’s the right place for them. If it seems the doctor and the practice aren’t on top of the latest technology, that potential new start might go somewhere else. Practices that have a lot of favorable reviews on sites like Yelp or Google will stand out and make a positive impression. Also, be sure to address negative reviews professionally and in a timely manner.
Practice management software offers a number of ways to increase the value of your new practice. By leveraging technology, you can drive revenue in a short period of time.
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