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The Rise of the Corporate Dental Machine
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Patient Attraction Episode 1124
I’m not a huge science fiction fan. But I do know that one recurring theme is that our machines rise up against us, and we have to fight for our lives. I don’t want to sound alarmist, but the machines are already rising up against private dental practices. I’m referring, of course, to the corporate dental machines – the chains. If you think they’re not machines, you need to take another look. The corporate offices have systems that put yours to shame. After the break, I’ll be back to tell you how to not only survive but actually thrive in the face of the corporate dentistry uprising.
– Thanks for watching the Patient Attraction Podcast.
– I’m Colin Receveur.
– I’ve been sounding the alarm for some years about the rise of corporate dentistry.
– One existing model may serve as a guideline for what the impact of the corporate offices will mean for private practice dentists.
– And that model is Walmart.
– Corporate dentistry isn’t Walmart – yet – but there was a time when Walmart wasn’t the Walmart we know today.
– When Walmart moves into an area now, small businesses that try to compete suffer.
– That’s because Walmart has one of the world’s greatest advertising budgets.
– They also have economies of scale in operational costs that small businesses can’t possibly match, and price points that are ridiculously low on thousands of items.
– In fact, trying to compete has driven many, many small businesses out of business.
– Like I said, corporate dentistry isn’t Walmart yet.
– But many of the chains are forecasting phenomenal growth.
– And just as with Walmart, if there’s money to be made in a given market, corporate dentistry will be in that market.
– The only question is when, not if, they’re coming to your area.
– You’ve got a couple of choices.
– You can do what too many dentists do and try to ignore the whole thing.
– And if s ome of those dentists get out of the business soon enough, that strategy may work.
– But it’s not the best course of action for several reasons.
– One reason is that you typically won’t have much warning that one or more of the chain practices are moving into your market.
– Whether you plan to stay and fight or try to sell your practice, you’ll be reacting instead of acting.
– And in business, that’s not the position you want to be in.
– Businesses succeed when they have a plan and stick to it, modifying that plan only when needed.
– But the odds are that the plan you’re using to promote your practice won’t work when corporate dentistry arrives.
– Are you advertising low prices, specials, insurance acceptance, and availability?
– Those are exactly what the chains market their practices on.
– Once the chains arrive, you’ll be the small store trying to compete with Walmart.
– And Walmart has notched up a huge tally in the win column.
– The small stores, not so much.
– I mentioned that you have a couple of choices.
– The second choice is to learn to compete in the areas where corporate dentistry is weak.
– There’s one area where the chains really struggle, and that’s trust.
– There is story after story about patients not seeing the same dentist twice.
– There are even more stories about patients being gouged by unscrupulous chain practices.
– Corporate dentistry is short on trust.
– You can capitalize on that fact.
– Here’s your winning strategy: Let corporate dentistry market to the low case value patients.
– You focus on attracting the segment of your market that wouldn’t be caught dead in a chain practice.
– That segment is at least 20 to 30 percent of prospects in most areas.
– Those better patients have the ability and willingness to pay more for the right dentist.
– And once they’re patients, they’ll be your patients for a long, long time.
– Now, you’ve probably figured out that you can’t attract those better patients by advertising on low price.
– It takes time and a great deal of work to position yourself as the best and only logical choice to solve better patients’ dental problems.
– That’s time you won’t have when corporate starts sniffing around.
– SmartBox helps more than 550 dentists on 3 continents get more and better patients.
– Our industry-leading Patient Attraction System sets our dentists apart from their competitors and helps them get more patients, more profits, and more freedom.
– Don’t wait for corporate dentistry to force your hand.
– Go to smartboxdentalmarketing.com and reserve your free Practice Discovery Session.
– We’ll show you a Patient Attraction System that can double or even triple your practice.
– Don’t try to fight corporate dentistry on their terms.
– Take the struggle to another level where all the advantages are yours.
– Join me for our next podcast.
– Until then, keep moving forward.
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