At first glance, it may seem like adding new patients to your dental practice translates to growth and higher profits. The truth is that adding new patients only tells part of the story. Every day across the country, dental practices are losing patients. If you’re losing patients at the same rate as you’re gaining new ones, your dental practice’s growth is actually stagnating.
The key to true success is to keep as many of your patients as possible as you get new ones. This is called patient retention. Discover how to measure dental patient retention and ways to increase dental patient retention for your practice.
Your patients are testimonials of your skills as a dental professional and your dental practice as a whole. When your patients have a good experience under your care, they will tell others about their satisfaction. If they have a poor experience and leave your dental practice, that will be the story they tell when others ask who they should choose for their dental care. Retaining your patients means you have a higher rate of client satisfaction, which leads to more positive word of mouth and exponential growth.
Patient retention is also important because your patients are the easiest demographic for you to market to. Think about the more difficult, scattershot approach of trying to market to potential customers. You may see a low return percentage on your efforts. You’ll soon find that convincing someone new that your dental practice is excellent and the best choice for them can be challenging. This is especially true if attracting new patients means convincing them to leave their current dental practice.
Your best choice is to upsell your dental practice to your existing customers. Here are a few reasons why:
With these thoughts in mind, investing in patient retention should be the foundational approach for your dental practice. Trying to get new patients should come later. New patients will often come naturally as you have more satisfied clients spreading positive reviews about your practice.
Patient attrition happens when your patients stop visiting your dental practice, often to find the services of another. According to dental patient retention statistics, the average attrition rate is 17% in the dental industry. This means nearly 1 in every 5 patients stops going to a particular dental practice for their oral health needs.
If your attrition rate is around 17%, you’re at least doing as well as most other dental practices. But this also means you have an excellent opportunity for improvement by getting your attrition rate down. To do this, you first must know how to measure patient attrition for your dental practice.
To calculate your dental practice’s patient attrition rate, start by determining how many active patients you have. An active patient is anyone who had an appointment in the last 12 or 18 months. Then go into your records to find the number of patients who had an appointment within the last 30 months. Subtract the number of active patients from this number, then divide the difference by the number of active patients to calculate your attrition rate. For instance, if the answer is 0.15, you have a patient attrition rate of 15% for the 30-month period.
Once you know your patient attrition rate, you’ll have a deeper understanding of your dental practice’s performance. This number is crucial as it allows you to take the next appropriate steps to make improvements and increase your patient retention.
One of the first steps toward retaining your patients — and getting new ones — is knowing what patients are looking for in their dental practice. Here are five key factors every patient wants to see in their dental practice:
To overcome dental patient retention problems, you need to make the right improvements. Here are some ways you can increase patient retention and decrease patient attrition:
You must provide quality service to keep your clients returning to your dental practice. For that, you need the right dental instruments for the job. View the services and resources from ProDentUSA online to learn more about how we can ensure your dental practice has all the tools you need to get the best results for your clients. Contact us today for more information.