Attracting New Patients Is More Important Than Ever

Starting towards the end of 2014 and continuing into 2015, there has been a significant increase in the amount of active patients in the dental marketplace. Two factors seem to be driving this trend: higher employment rates; and the introduction of the Affordable Care Act (ACA). Both of these catalysts mean there are a significant number of people who now have insurance and are looking for service. The graph below is a representation created by Sikka Software displaying the increase in amount of active patients. Looking at the graph above, how does that impact how you understand your local dental market, find new opportunities for revenue, and more importantly ways to grow your business? An increase in the number of active patients can also mean that there are fewer cash patients. Cash patients are valuable to a practice because patient production revenue is realized much quicker and more directly, as opposed to dealing with the insurance providers. The graph below displays the number of cash patients compared to insured patients from 2012-2015. What does this all mean? Cash patients as opposed to insured patients would mean that a dental practice is making less based on adjustments. You need to put an emphasis on adding new patients to increase revenue. Don’t miss out on future patients; UIC Dental is available when those patients call looking for you. The data clearly shows there are more people looking for service. UIC Dental positions you to realize every possible opportunity you can!

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