TheWealthyDentist.com™ Newsletter Archive – TWD – 007

News From The Wealthy Dentist #7: August 23, 2006

This is a Bribe


Let’s cut to the chase…

The bribe is simple. In exchange for 90 seconds of your time, I will provide you with a link to our new Dental Marketing Campaign Advisor. This online utility will totally automate your dental marketing analysis by showing you how many new patients you need to break even, earn a profit and your ROI on any marketing campaign.

Let’s say your local phone
book salesman, generally referred to as the “Scum-of-the-Earth,” wants you to spend $2,000 a month on a half page ad. Go The Wealthy Dentist’s online Dental Marketing Campaign Analysis program, then enter the cost of the marketing program ($2,000 a month) and the average gross production value of a new patient in your practice. We’ll show you a complete graphic analysis of the number of new patients you need to break even, your ROI and multiple profit scenarios on both a one-time and annual basis. What more could you ask for in a bribe?

Now, let’s get back to the
90 seconds of your time. To refine our new marketing utility for maximum accuracy, we need to know the average value of a new dental patient in your practice. Not just any new patient either; we want to know the average value of your top three high-value new patients.

Let’s be honest, not all new patients are equal in value. There’s a big difference between the new patient who comes in for a prophy and two fillings and a cosmetic/restorative, implant or ortho new patient. We want you to tell us the  average production value of the top three high-value new patients for the first nine months they are in your practice.

Why nine months? Two
reasons. First, it can take up to nine months to complete most major cases. (Yes, I understand there are multi-year treatment plans.) Second, and most importantly, is that you have a limited amount of time to generate a profit/return-on-investment while paying hard dollars to bring that
high-value new patient into your practice. How long can you carry on the expense of your marketing campaign before you start earning money back?

If you can’t come up with three high-value new patient types in your practice, list the top two. If you can’t list two, list just one – you may be a specialist. If you can’t list one high-value new patient type, you have a serious marketing problem.


– Jim Du Molin


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Kitty Gets some Gold

Kitty Goes Gold Rappers and gangsters do it all the time. Why can’t pets?

Tooth flare has been in the news quite a bit lately, from a Palm Beach jewelry store  ‘bling sting’, to the growing tooth jewelry trend. Flashier smiles are more popular than ever – why not let pets join the party?

Indiana dentist David Steele
did just that when he strengthened his cat Sebastian’s two protruding bottom canines with gold crowns. Dr. Steele says he made an impression and sent it to a lab for humans, which undoubtedly raised eyebrows (and chuckles). The procedure itself took just 15 minutes. Just think – you could give Fido a more menacing grin over your lunch hour.

While the procedure was in kitty’s best interest, Dr. Steele notes his furry companion didn’t ‘speak’ to him for two days. Talk about temperamental!


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Are You Prepared for a Pandemic?


Are
Do you know what to do if the bird flu knocks on your door?

By now you’ve probably heard that scientists discovered a form of the avian flu in two wild swans in the United States. It turns out this strain wasn’t

much of a threat, but it is cause for pause. Would your practice be prepared in the event of a true-blue pandemic?

There’s no doubt that fear has transformed infection control into a  booming business, but there’s a big difference between keeping protective kits on hand and truly preparing for the impact (financial and otherwise) a real threat could have on your office.

It’s critical to cut through the hype and find truly valuable resources designed to protect you.  Pandemicflu.gov was created to help business leaders (including dentists) protect their employees, customers (or patients) and themselves should medical disaster strike. It provides a checklist to walk you though each step, including:

  • Planning for the impact of a pandemic on your dental practice
  • Planning for the impact on your dental team and patients
  • Establishing clear policies to be implemented during a crisis
  • Allocating resources Communicating with and educating your dental team
  • Coordinating with external organizations and helping your community.

While protecting yourpractice is essential, there’s nothing more important than protecting your home and those you love. Fortunately, the U.S. Department of Health and Human Services has established guidelines for that as well. This guide discusses steps that must be taken to plan for a pandemic, tips for preventing the spread of germs and infection and a list of items to have on hand for an extended stay at home, such as food, medication and manual appliances.

While some would argue that media hype and fear mongering related to a potential avian flu pandemic are outrageous, the truth is nobody really knows what the future holds. You’ve worked too hard to get to where you are today to take chances.


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Heroes and Zeros


The Rise of Mobile Dentistry

Fancy some poker? How about a root canal? Yet another mobile dentistry program has launched, this time in Las Vegas. The mobile unit will allow those who work along “the Strip” to get some much needed dental care without fighting tourist traffic. (I could comment at
more depth here regarding people who work “the Strip”, but I will leave that to your imagination.)
In a related story, Citigroup donated $35 thousand to help launch another mobile program in Kentucky, though its target patients are underprivileged children.


Learn more about Kentucky’s mobile program


Farewell to a Legend

John Haase, a
dentist and author whose 1966 novel was turned into the film “Petulia,” the dark, offbeat ode to the swinging ’60s, has died at the rip age of 82. Dr. Haase, who treated a number of stars in his practice, penned chapters between appointments. In the end he had published 11 novels, though he never approved of the adaptation of Petulia. He once wrote that the screen writer “wrote about a world I’d never known existed, and if it does, I’d strongly suggest he keep it to himself.”


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Across the Pond


Dental Professionals’ Misconduct Could Lead to Sweeping Changes in Bermuda Law

A Bermuda judge has overturned a decision by the Bermuda Dental Board to suspend a dentist and his hygienist after the latter performed procedures for which she was not qualified. The judge deemed that the five governor-appointed dentists who oversaw the hearing did not constitute an ‘independent and impartial tribunal;’

that acting as both ‘judge and jury’ was unconstitutional. The result? A call from the bench to overhaul the region’s dental laws, transferring authority from
the board to the courts. Ever see The Butterfly Effect?

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