Top photo: AFTER mini-renovation
Right photo: Before renovation
Office of Robert Spreen, DDS;
It is time to get some positive information out on the dental industry because it is out there and we don't hear enough about it. In conversations with our dental clients again and again I hear how strong their earnings are, and even growing in this challenging economy. Comparison of their 2008 to 2007 income was strong and their 2009 year-to-date income against previous years looks good too. And, while orthodontic and prosthedontic practices are experiencing the impact of discretionary spending cuts our oral surgery, endodontic, and general dentistry practices are doing well, really well, and nearly without exception. And THAT is the REALITY!
These positive financial results are not accidental. The common thread between all of our client’s practices is that they invested in their office, in moderate ways, to create optimal functionality for their staff and a patient friendly aesthetic design. Their investments have ranged from micro-remodels (new carpet and paint), to mini-remodels (renovation of a poorly functioning room along with office finish updates) and even phased, operational renovations on a larger scale.
Does this really matter? Yes it does-because dental patient’s have a choice. Frequently practice-to-practice cost comparisons yield only a small difference in prices. So when a patient is investing their dental dollars, why not choose a nicer, nearby, up-to-date office and have a great experience if the cost difference is negligible? A fresh, current design with comfortable seating, warm colors, and an overall clean and organized appearance to the office makes a huge difference in the patient’s perception of a dental practice. And our client’s are utilizing their offices to attract new patients and enhance their existing patient’s experience in their office. The outcome? A return on investment they are literally taking to the bank!
If the financial situation in your practice is a declining then this is a great time to objectively evaluate your competitor’s offices and see where you stand. Is it time to differentiate yourself by improving your practice's environment in small, cost effective ways? While the overall economy is out of your control, your investment in your practice is one area you can control and gain a 20-30% return on your investment. Now, isn’t that is a much better reality?
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