A warranty is a powerful and flexible tool that can help your dental practice grow, especially during the major health care changes on the horizon that will affect patient loyalty. It is no coincidence that the most respected brands in the world provide a strong written warranty on the products or services they provide.
Here are 9 ways dentists use their warranty to grow their practice:
1. Build Patient Trust
A written warranty spells out how the patient's restorations are protected after the work is completed. Dentists use this clarity to build patient trust. Patient appreciate the peace-of-mind knowing what to expect up front, and there's no confusion about what is or isn't covered in the event of breakage. It's a much better experience for the patient.
2. Accelerate Marketing
You do great work, but how will a patient know the difference between you and another dentist unless you have something to set you apart? Dentists use the warranty as one more way to set themselves apart from other dentists in their market.
3. Increase Treatment Acceptance, Especially Big Cases
The larger the investment, the greater the desire to know that you are making the right decision. Dentists use a written warranty as part of the case presentation to provide assurance and peace-of-mind to patients deciding, "should I move ahead with treatment?"
4. Improve Hygiene Retention (And Prevent Cancellations)
Why do patients really keep coming back? First, because they enjoyed the experience they had in your office, and second, because they have a compelling reason to return. Ideally this reason is to keep their oral health in tip-top shape, but dentists are also using their warranty as one more reason to come back on time... the warranty requires that patients return for their continuing care appointments to keep their coverage active.
5. Add to Production Numbers
If designed and used correctly, instead of costing money, a third-party warranty program will add to the practice top and bottom line every month. Top line revenue comes from the practice's share of the warranty fee paid by patients.
6. Reduce Lost Chair Time
Dentists use a third-party warranty to cover the costs associated with repairs and replacements. When a third-party covers these costs, the practice doesn't have to worry about unpaid chair time.
7. Planning for Transitions
Dentists who are preparing to retire or sell their practice use a warranty to prepare for that transition. A third-party warranty can continue to protect patients even after the dentist has transitioned out of the practice.
8. Increase Patient Satisfaction
Patients who repeat and refer are those who are "very satisfied" with their experience in your practice. Where does satisfaction come from? Satisfaction comes when you meet or exceed patient expectations, meaning what they thought they were going to get when they walked in your door. If you don't set expectations, how can you exceed them? A written warranty puts a line in the sand.
9. Turn the Front Desk Into a Production Center
In most general dentist practices, "production" comes from the dentist and hygienist providing treatment. The other positions in the office are important because they support this activity. By offering a warranty, you can turn your front desk team into another production center. The revenue created from the warranty could be enough to pay for a front desk person's salary for the year.
There are more ways to use a warranty in your dental practice, but hopefully this gives you some ideas for how you could use this simple but powerful tool to reach your practice goals.
For more information about Dental Warranty, click here.
To request an estimate on how Dental Warranty could benefit your practice, click here.