TheWealthyDentist.com™ Newsletter Archive – TWD – 014

News From The Wealthy Dentist #14: October 11, 2006

In this issue…

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Across the Pond
UK pensioner takes dental care into her own hands (and pliers)

A 65-year-old woman from Wales became so desperate after suffering with an excruciating toothache for more than a week that she decided to take matters into her own hands.

After several unsuccessful attempts to schedule an appointment with an NHS dentist (shocking, we know), Val Shorter grabbed a pair of pinched-nose pliers to extract the tooth herself. Her anesthetic? A “couple glasses of wine and a little bit of Dutch courage.”

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Doctors Still Looking for Magic Marketing Bullet!

 

How much is your time worth?

I recently got a letter from a doctor’s spouse complaining about the amount of time it took to set up one of our Internet marketing programs – about 2 hours. This included a teleconference to customize the doctor’s Internet directory program with a practice profile and geographic markets, a complete email newsletter and patient communications program and the selection of their dental Web site options.

Wow! Two whole hours to set up a comprehensive Internet marketing campaign targeted at cosmetic patients – each worth about $3,000 net to the bottom line at a cost of just $280 a month. Has there been a mental disconnect here?

Even if this doctor’s time was worth $1,000 an hour net, one new cosmetic patient a month will net him $30,640 by the end of the first year. These people didn’t want a marketing campaign – they wanted a magic bullet!

I’ve seen this magic bullet syndrome before, and not just in marketing. For years we used a software program in our dental consulting business to manage practice statistics and team bonus programs. The time commitment? Two hours setup by the doctor and 45 minutes of team time a month. Net average increase in income? About $45,000 a year – and we still got complaints that it took too much time to administer.

The truth is that marketing and management are part of the doctor’s job description. Often a minor investment of your time in either can generate an outrageous increase in your bottom line.

In marketing, you are either pregnant or you’re not. There is no gray area. If you are going to professionally market and manage your practice – make the commitment or don’t. But if you do, follow through with it.

Jim Du Molin

P.S. If you are looking for a comprehensive Internet marketing campaign, call our support team at (888) 476-4886, or schedule an appointment online!

Heroes and Zeros

Retired UK dentist arrested for bomb plot

A retired UK dentist is accused of being part of a bomb plot after explosives were seized from his home. Police found rocket launchers, chemicals, British National Party literature and a nuclear or biological suit. His intended target is still unknown.

Suspended dentist gets busted for practicing without a license

A former dentist has been accused of extracting teeth without a license. Georgia resident Chester Kyle Little set up a discount dental office serving predominately low-income families without insurance. Authorities became aware of the clinic when one of his “patients” checked into an emergency room. Little lost his license in 1993 following a cocaine possession conviction and was later convicted in Texas of practicing dentistry without a license in 1999. Is there a three strike rule for stupidity?

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