Four Savvy Ways to Spend Surplus DSO Budgets
Whether you manage a group practice or a larger DSO, you may find that your scale gives you more opportunities for investment. That could mean new practice management platforms, updated equipment or even add-on modules for your existing software and hardware that can aid with ROI. As the seasons change and your mindset shifts to the end of the year, consider a few ways to make your office spend go further.
1) Invest in Your Patients: Doctors and team members in the busy DSO environment can still find ways to connect with their patients. Notes in the patient chart can provide little reminders about patients that help oral healthcare providers personalize each exam: “Is Sofia back in school? Third grade now, right?” “How’s that pup doing? Did the training you mention on your last visit help?”
Patient solutions can even help you connect with patients before they even arrive at the office. Send personalized reminders, communicate through two-way texting, and even provide helpful traffic alerts before appointments to let patients know you’re excited to see them back. With one in three Americans indicating they prefer to communicate through text, you’ll be communicating to patients the way they like best.
2) Replace On-premises Software: When was the last time you used a CD to install something on your computer? Today, you most likely access email, banking, and stream movies via the Internet. Your experience is the same whether you’re on your laptop or your phone—thanks to the consistency of cloud computing.
It’s the same for dentistry. Rather than installing your practice management software on a single computer with a CD, you can now access all you practice and patient data online, hosted on a secure cloud-based platform. On the cloud all updates are automatic, so you’ll never wait for CDs in the mail again. Plus, the cloud is managed by your service provider, providing an added layer of cyber-security and likely lower fees since you won’t have to work through a third-party IT company. The cloud connects all your practices, so you have a high-level view of performance and KPIs, whether they’re in the same city or across state lines.
3) Marketing Matters! Look for ways to improve your current marketing strategies and get more patients in the door. Emails, ads and social media are all important, but research shows that 83% of people trust the word of family and friends. But, investing in patient solutions that help garner reviews from satisfied patients and bump up your practice in search engine results can validate your practice and help attract new patients seeking out dental care.
4) Update Outdated Equipment: Reviewing your practice’s equipment helps ensure you’re getting the most out of what it has to offer. That doesn’t always mean replacing an entire unit. Often a representative from your manufacturer may be able to recommend software updates or newer add-on modules that can help you do more, like adding airway analysis, virtual implant planning or surgical guide design. A certified trainer may help you discover tips and tricks within your current imaging software to help you operate more efficiently.
Between the busy back-to-school season and the onslaught of holidays, spend time now planning your next investment that will help your practice perform better. To speak to a representative to schedule an account overview, click here.
