Titan Web Agency
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Titan Web Agency
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Jan 6, 2023
Dental CPA: Why Hire a Dental Accountant for Your Practice?
Dentists who own their practices are highly trained professionals with the skill and experience to treat patients. Where a dentist’s professional training may be inadequate is in running a business, outside of dealing with patients. One such need may be in the dental practice’s accounting. While many dentists try to handle their accounting without assistance, it can be a costly mistake if you don’t have the proper training.
Read moreDec 28, 2022
Top 27 Dental Industry Trends & State of Dental in 2023
Are you prepared for dental industry changes in 2023? This post was originally published August 13, 2015, and updated December 27, 2022. At Titan Web Agency, we work with some of the nation's top dental practices. We consider it our responsibility to stay on top of the latest dental industry trends and what they mean for our clients. As the new year has almost begun, it is time to review the current trends in dentistry for 2023 and how they’ll impact your marketing. State of Dental 2023 The information below is from NexHealth’s 2022 survey, as the 2023 survey has not yet been released. We will update this post as soon as the new survey is available. NexHealth conducted a survey and released a report about the state of dentistry in 2022. Here are some key takeaways that we feel are relevant to what dentists and dental practices can expect in 2023. Year of the Patient NexHealth dubbed 2022 The Year of the Patient. The report notes that the dental industry took a hit because of the COVID-19 pandemic. Even patients who regularly visit the dentist were inclined to postpone cleanings and other treatments, even with dental offices already using sanitation precautions that would make spreading the virus unlikely. The focus in 2022 was on bringing patients back to dentistry by making it easy for them to find a practice nearby, book an appointment online, and make payments on their mobile devices. Prioritizing patient needs is the best way to attract new patients and – as the report notes – many people were expected to move in 2022 meaning that they’ll be looking for new dentists. Growing Faster by Focusing on the Patient Experience 65% of practices surveyed said they believe they will have more patients in 2022 than they did during the pandemic. It’s for that reason that improving patient satisfaction was the #1 goal of survey respondents. Today’s patients are savvy, and they know what they want. Dental practices have the best chance of growth when they focus on optimizing the patient experience. Survey Demographics To help you interpret the survey results, here’s a breakdown of the demographics of those who responded: 57.49% dentists 24.53% owner/dentists 8.99% office managers 3.63% practice owners 3.15% operations 1.81% marketing 6.15% other 70% of respondents worked in single-office locations while the remaining 30% represented multi-office practices. What are the Trends in Patient Experience In the report, three trends emerged for improving the patient experience. Improving the customer experience. More convenient payment options. Automating insurance paperwork/verification. Practices are focused on making every aspect of visiting the dentist more convenient for patients, from booking appointments online to making payments with a mobile wallet. How Dental Software Can Transform Your Practice Choosing the right dental software can transform your practice by allowing patients to book or change appointments easily, make on-time payments, and help your staff work efficiently. Patients want to book online, so it makes sense to choose software that will allow them to do so. The same is true of streamlining the payment process. Automating processes can make your office more efficient and leave you free to treat more patients. The Four “Deal Breakers” for New Dental Software One of the questions the survey asked had to do with the necessary features of new dental practice management software. The right dental software can help any practice attract new patients, but what features do dentists consider to be deal-breakers? There are four features that, if absent, would rule out software. Security and reliability. The survey respondents put security and reliability at the top of their lists. Patient information must be protected, and the software must work reliably and with a minimum of problems. Ease of implementation and management. Adopting any new software requires time and effort, so dentists are more likely to choose software that’s easy to onboard and manage. Excellent customer service. In a year when the consensus is that focusing on patients is essential, it’s not surprising that dentists expect top-notch customer service from software companies. Dentists can’t support their patients if they aren’t supported. Integrations. Many dental offices use software and tools for a variety of purposes. Respondents made it clear that they prioritize dental software that integrates seamlessly with the tools they’re already using. Items further down on the list included cost, new features, and brand recognition. Where to Invest to Grow Your Practice This section also references data from the 2022 NexHealth survey. We will update as needed. Respondents to the NexHealth survey mentioned social media and online scheduling as the top two areas where they plan to invest money in to grow their practices. Social Media 56% of dental practice employees and 59% of owners said their top spending priority was social media. The most popular outlets were image-friendly Instagram and community-based Facebook. Common goals included integrating posts with online booking and building brand awareness. Online Scheduling Second place went to online scheduling, with 44% of employees and 29% of owners calling it their top priority. We believe that online scheduling is an essential part of prioritizing patient needs since most patients say they prefer it. We should note that owners were more likely to choose to add more services or increase their marketing spending over online scheduling. First-Mover Advantage in the Year of the Patient How can your practice become a first mover and take advantage of patient growth in 2023? It all boils down to two things. Prioritizing online booking. Only 26% of survey respondents say their patients can book online and most of those are practices with high patient volume. Smaller practices are lagging. Using patient experience software. Patient portals are something today’s dental patients expect. They want to be able to schedule or cancel appointments online, view their dental records, pay their bills, and check the status of claims. When dental practice priorities align with patient priorities, they have the best chance of attracting new patients and increasing their profits. Dental Industry Statistics Now, let’s look at some statistics about the dental industry in 2022 that may help us understand what’s coming in 2023. The first thing you need to know is that the dental market in the United States is in a period of rapid growth. In 2021, dentistry was a $162.1 billion industry, including dental surgery, orthodontics, periodontics, and cosmetic dentistry. Final numbers for 2022 aren’t in yet, but experts predict that the industry will continue to grow at a compound annual growth rate (CAGR) of 6.24% through 2027. The biggest drivers of growth continue to be the following: Cosmetic surgery Dental implants New dental technology We also have an aging population in the US and that means there’s more demand for dental services in general. Here are some other statistics to keep in mind as we head into 2023. The dental implant market in the US is $1.1 billion and globally is worth $4.6 billion and is expected to grow 9.8% annually. The global market for cosmetic procedures was $29.6 billion in 2021 and is expected to see an annual growth of 13%. According to the CDC, only 64.9% of adults and 85.9% of children saw a dentist in 2019, the last year for which numbers are available. What these statistics show is that there’s room to grow for any dental practice in the United States. COVID-19 Pandemic Impact on the Dental Industry We can’t discuss dental industry trends without talking about COVID-19 and its impact on the dental industry. Dental practices were already accustomed to using protective gear and maintaining sterile conditions. There have been multiple studies that indicate cases of COVID-19 have remained rare among dentists and dental staff. While dental practices in many areas experienced brief shutdowns at the beginning of the pandemic, they were able to reopen quickly because they already had significant precautions in place when working with patients, including wearing PPE. While initial predictions about the financial impact of the COVID-19 pandemic were dire, with the ADA anticipating a 38% decline in dental revenue, the final numbers from 2020 indicated that dental revenue was down 6% for the year. The industry has experienced a return to growth in 2022. The financial impact is clear, but we should also note that the ADA reported a study looking at the mental health of dental workers during the COVID-19 pandemic and found that rates of depression and anxiety had increased substantially during the pandemic. As of June 2021, 17.7% of dental workers reported experiencing depression and 10.7% reported anxiety, while 8.3% said they experienced both. How Much is the Dental Industry Worth? As we head into 2023, it’s worth examining the overall worth of the dental industry and where we see it heading in the future. According to the latest figures available as of the end of 2022, the United States dental industry is worth $162.1 billion. That number is based on the total combined revenue of all dentists in the US. The market experienced a growth of 6.1% in 2022. On average, the worth of the dental industry has increased by 1.9% per year since 2017. Marketing Trends for Dental Practices Now, let’s look ahead and review the top 27 dental industry trends for the coming year.
Read moreDec 21, 2022
Dental Fee Schedule: How to Raise Your Prices Without Losing Patients
Your dental practice needs patients to survive, but you also need to earn enough money to pay your overhead expenses, make payroll, update equipment as necessary, and market your practice to attract new patients. For many dentists, the rising cost of running a practice necessitates an increase in prices.
Read moreSep 27, 2022
Top 11 Mental Health Practice Management Software: Reviews & Pricing
Running a mental health practice requires a combination of clinical expertise and administrative skills, which are two areas that can be difficult to balance. For mental health professionals, patients’ needs come first—and that may mean that administrative and organizational tasks take a back seat.
Read moreSep 21, 2022
Dental Practice Valuation: A Guide for Dentists
Any dentist who owns a practice knows that their practice has value in the marketplace. Its value is based on a variety of things, including the owner’s reputation and experience, the number of patients the practice serves, the payment sources of the patients, as well as the physical equipment and assets owned by the practice.
Read moreAug 8, 2022
Patient Retention: 13 Strategies to Improve Your Practice Retention Rate
*This post was originally published April 6th, 2017, and extensively updated August 8th, 2022. Are you struggling with your patient retention rate? As a healthcare professional with your own practice, it can be disheartening to see your patients leaving and going to your competitors. Attracting new patients is far more costly than retaining existing ones, so focusing on patient retention is essential for practice growth. At Titan Web Agency, we work with dentists and other medical professionals every day, helping them to fine-tune their marketing and improve their practice retention rate. With that in mind, here’s what you need to know about patient retention, plus 13 strategies to increase your practice retention rate.
Read moreAug 7, 2022
11 Ways to Dramatically Reduce Dental Patient Cancellations and No-Shows
What is the best approach to handling patient cancellations? In any dental practice, patient cancellations and no-shows reduce profits and can impede efforts to grow a practice and attract new patients. While it’s impossible to eliminate all cancellations, it’s essential to put practices in place to reduce them and minimize no-shows. No-shows are even more disruptive than cancellations because there is no warning and thus, no way to fill the appointment ahead of time. At Titan Web Agency, we work with dental practices every day to help them attract new patients, retain existing ones, and increase their profits. To help dental practices minimize cancellations and no-shows, we’ve written this guide with 11 best practices and pointers on how to manage patient cancellations.
Read moreJul 9, 2022
7 Dental Reactivation Strategies to Supercharge Practice Growth
In any dental practice, it's necessary to balance the retention of current patients with the acquisition of new ones. When a patient hasn't seen you in a while, it may be necessary to make a concerted effort to get them back into your office for an exam and cleaning--something that can also spur practice growth and increase your profits.
Read moreJul 8, 2022
17 Creative Ways to Improve Patient Satisfaction
*This post was originally published February 2nd, 2016, and extensively updated July 8, 2022. How Can Patient Satisfaction Be Improved? Patient satisfaction is at the core of any successful healthcare practice. When patients feel respected, valued, and cared for, they are likely to remain with a provider for years. They may also help attract prospective patients by making referrals and writing positive reviews. Sometimes, providers lose sight of the patient experience even as they strive to provide excellent care. If it’s been a while since you reviewed your patient satisfaction scores and office procedures, it may be time to take a step back and see what you can do to improve the experience of visiting your medical practice. With that in mind, here’s some information about the patient experience plus 17 actionable suggestions to help create a practice that your patients love.
Read moreJun 23, 2022
11 Effective Ways to Market Drug Rehab Centers
* Originally Published Dec 29, 2016. Updated June 23, 2022 Addiction treatment marketing is a sensitive and complex subject. You want to keep your center as full as possible to help the greatest number of people and maintain a financially viable business, but at the same time, you need to be careful to use ethical drug rehab marketing tactics to protect your reputation.
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