Are you ready to embark on the thrilling journey of opening your own orthodontic practice? Excitement, anticipation, and a pinch of trepidation are par for the course. After all, while your clinical skills are second to none, the business aspect might seem like uncharted territory.
Enter Luke Infinger and Harrison Bagdan, your guides to navigating this new terrain. Their invaluable insights will empower you to devise a potent plan and budget that will turbocharge your orthodontic practice’s growth.
What’s Your Vision? What Are Your Goals?
Start by crafting a crystal-clear vision and setting achievable goals. Do you see yourself as the sole practitioner in a single location, or do you dream bigger, envisioning multiple locations with a team of providers? How fast do you wish to reach your first million in annual production? Remember, the more ambitious your goals, the more you’ll need to invest in marketing and systems right from the get-go.
Here’s a guideline: Aim to channel at least 10% of your first-year revenue goal into marketing. So, if you’re targeting $1 million in year one production, earmark $100k for marketing. This way, you’ll generate enough leads and appointments to hit your targets.
Speed and Convenience — The Name of the Game
In today’s fast-paced world, consumers crave speed and convenience. If you delay following up on a new patient inquiry or cannot schedule them promptly, you risk losing them. The most successful orthodontists prioritize patient needs and preferences over their own schedules.
How about implementing a system that ensures internet leads receive a callback within five minutes and new patients get scheduled within 72 business hours? Assign dedicated team members to handle lead follow-up and inbound calls. A records tech could help streamline your new patient exam process.
Powerful Branding and Online Presence — Your Ticket to Standing Out
In a sea of competitors, your brand and online presence are your lifeline. Collaborate with experts to craft your unique brand identity, design your logo, build an engaging website, devise a robust SEO strategy, manage your social media, and maintain a stellar local online reputation.
Ensure your website not only attracts visitors but also converts them into leads. Own the first page of Google for relevant searches by optimizing your SEO and listings. Respond promptly to all online reviews to manage your reputation effectively.
Paid Ads and Marketing Automation — Your Growth Catalysts
Leverage the power of paid ads on Google and Facebook to drive more traffic to your website and generate more leads. Use marketing automation software like Practice Beacon to convert more leads by contacting them as soon as they inquire.
Invest in Training, Accountability, and Coaching — The Cornerstones of Success
Marketing activities alone won’t fuel growth. You need the right team training and accountability. Collaborate with a coach who can hold you and your team accountable for lead follow-up and exceptional customer service. Adequate training and ongoing support are vital to converting new leads into patient starts.
Embarking on the journey to start an orthodontic practice involves meticulous planning, budgeting, and execution across clinical operations, marketing, sales, staff training, and more. Adhering to the recommendations in this post will propel your new practice off the ground and aid in achieving your growth goals.
And remember, we’re here to help, every step of the way. Got questions? Need assistance? Reach out today!