You may be experiencing an influx of patients, which is probably something you have seen many times in the past. Spring, summer, and fall break — not to mention the last few weeks of the year — are traditionally very busy times for dental offices across the nation. These times of the year result in a full schedule, high productions, and increased collections…but why are you not seeing this growth month after month all year long? Which dental billing step is being missed?
With a great number of patients comes a great number of cancellations. The majority of patients that cancel do not reschedule, and the front desk staff doesn’t have the capacity to follow up to make sure they come back to the practice. This means your patient retention rate is suffering and your patient attrition rate is stunting your practice growth.
What is the average patient retention rate?
According to the Journal of the American Dental Association (ADA), the average general dentist keeps only four out of ten patients beyond their first appointment.
This means that more patients are leaving your practice than are coming in, resulting in the lack of growth you are aiming for. You undoubtedly work daily to ensure the very best patient experience in your office, but that is only one half of the equation. If you’re not retaining your current influx of patients, your practice is leaving money on the table, and your full schedule of recare patients falls to pieces right in front of your eyes.
What should my patient retention rate be?
Your patient retention rate should be at 85%, which is nearly nine out of every ten patients coming back for their next visit. This retention rate could result in substantial and sustainable growth for your practice.
Did we mention the benefit of easier scheduling for your administrative staff? A full schedule means less time scrambling to fill holes in the schedule all day and more time focusing on patients. And if there is a scheduling conflict every now and then, use your morning huddle to problem-solve them with same-day treatment or family members that are overdue.
How can the eAssist Dental Billing platform help?
Our personal research shows that an average hygiene appointment, and ensuing production from the doctor’s exam, leads to an average of $471 of income per visit. And a new patient will generate at least $4,500 in revenue (excluding referrals) in their lifetime with a practice!
At eAssist, our Full Schedule platform specialists can work with you to get your schedule filled and increase your practice profits. We have real people providing a real service to give you peace of mind. This pairs perfectly with the eAssist Dental Billing platform, where the dental billing specialists work diligently with you and your staff to collect 100% of what you are rightfully owed by streamlining the dental billing processes.
Did you catch our most recent webinar, Creating Dynamic Strategies to Increase Practice Production and Profits? Our amazing panelists dove into patient retention, patient acquisition, and how to avoid the last-minute empty chair expense. Click here to watch!
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