The goal of most dental practices and many providers’ questions is, “how do I attract more new patients?” New patients are how you grow your dental office. And by new patient, we mean a patient whose goal is to establish a relationship with you. Not a person in discomfort and seeing you on an as-need basis. We want the person or family who will see you routinely every six months.
New patients can be the lifeline of growing your existing business. Depending on your demographics, you will have families who move, kids who graduate college and leave home, and older patients who pass. You will always want to be growing to make up for attrition.
What do you take into consideration when you are calculating the value of a new patient:
Recall Appointment Revenue
Restorative Revenue
Referred Patient Revenue
Elective Services
Why does the value of your patients matter? If you are in the growth mindset of your business, this will help you make better decisions about your marketing plan. You do not want your marketing expenses used to obtain a new patient to cost more than the value a patient brings over their lifetime. If you are aware of how much a new patient is worth, it also gives you a metric to set new goals. The goal is to continue growing.
As stated in our recent blog, you want to attract the right patient. The patient who will be your patient for years to come will bring their family as it grows. You have probably heard, “you can’t be the dentist for everyone.” More dentists should try to live by that motto. The goal is not to have one-time patients. You are not trying to attract the transient patient who is just passing through. You want the person who will grow to trust you and be your best community advocate.
