Path of Excellence: Uncovering Opportunities to Thrive
There’s no doubt that recent years have brought a combination of challenges to the dental industry. From uncertainty about the bowling ball effect of COVID-19, clinicians and practice owners have had to be constantly on their toes.As a result, uncovering and maximising opportunities has never been as pertinent to dental practices than it is today. The complexities of the current landscape which include factors such as long waiting lists, patient demand, remuneration and staff shortages, mean having a clear plan is essential.
Know which way to turn
Actively looking for ways to better the situation is key. To thrive in the “new normal” we need to effectively deal with the issues we all face. Often, during challenging times the best solution is to have a long-term view and although it can be difficult to see the best route or take the right steps when everything feels overwhelming, it’s a comfort to know that the tools and advice to help are available.
Technology means we are fortunate to have access to software that can simplify convoluted tasks and streamline processes. We all recognise the importance of having information at our fingertips. The ability to book appointments, order products for same or next-day delivery and manage our finances online has brought a freedom to people’s lives that earlier generations wouldn’t have thought possible. In the same way, using technology to streamline workflows can revolutionise a dental practice and provide clarity, helping define a path to a better future.
Today’s powerful software provides features that benefit the whole practice and its patients. Far from being a functional addition, dental software can process huge amounts of data and then extract in-depth insights and report into performance. And this is the ‘jump-off’ point because it provides an impetus that enables success to be put into perspective, resulting in a realistic and actionable plan.
Every business owner knows the importance of key performance indicators (KPIs) and in the context of an industry in a state of flux, having a handle on KPIs is crucial, yet time pressures can often lead us to take our eye off the ball.
This is just one example of where the right software can do the heavy lifting. MyPractice Cloud provides a snapshot of practice performance and how activity aligns with goals. Using a customisable dashboard, KPIs can be viewed at a glance, and changes made based on any obvious shortfalls.
KPIs include the metrics that matter most to an individual business, such as hourly rate, predicted revenue, FTAs (Fail to Attend) and chair time utilisation. But far from simply showing the areas of threat, it also provides a way of sharing goals with the team and rewarding success to keep staff feeling engaged and included.
Tap into demand
One of the interesting effects of COVID-19 has been the huge latent demand for dentistry. The money people saved during lockdowns together with the “Zoom Boom” mean that there’s a huge opportunity to market services to patients of a certain profile. Of course, the looming cost of living crisis may reduce the disposable income of many. This means that communicating with an attentive audience, using marketing messages that resonate, at the right time, is crucial.
Understanding how and where leads are being generated is an important first step, but often other opportunities go unchecked, leaving marketing success unattributed. EXACT's Campaign Plus is a software module that provides a full view of which marketing channel and campaign is best performing. It calculates factors such as how many patients booked in for the treatment that was promoted and total Return on Investment, enabling business owners to make sense of which activity is providing the best value for money.
Seize the moment
History shows us that during difficult times, the businesses that flourish are the ones that seize the moment. Through acting strategically, practices can offer patients the care they desire, whilst at the same time building business growth. This is only possible by using insightful data, gained using tools that are fit for purpose.
Empowering your practice with the software to thrive is easier than ever, and the door to opportunity is open. Find out how EXACT can help, contact us now.