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Staying in Touch
In the modern era, it is critical for practices to build relationships with their patients. Retention, increased case acceptance, and new patient referrals are all results of establishing and maintaining strong patient relationships. Yet, today it is more difficult than ever to get and stay in touch with patients. Sending postcards and calling patients seems to be the norm for most dental practices, yet it is very time-consuming, expensive and becoming less and less effective.
There is no question that technology has changed the way that we live, especially in regards to the choices we make on how to use it. Hearing and using phrases such as “just send me an email” or “you can reach me on my cell” have become commonplace in our society. Keeping up with this technological paradigm shift is paramount in running a successful practice in terms of providing a higher level of patient convenience while at the same time increasing office efficiencies. Technology can provide a way to automate much of our communications to keep us squarely in the minds of our patients without sacrificing one ounce of the ‘personal touch’. Messaging (email, text messaging to cell phones, pagers) is the most popular and rapidly growing form of communication today.
It is clearly time to send patients email. According to Neilson/NetRatings, there are now over 204 million (75 percent) Americans with access to the internet from home with over 55 million having broadband access and “checking email” listed as the primary use for their online activity.
Further, 75 percent of the age group 30-49 accesses the internet as well as 22 percent of the group over the age of 65 which makes them the fastest-growing group to embrace the online world. Women are also increasing in email usage with over 34 million women between the ages of 35-54 accessing the Internet at home. (Nielson/NetRatings March 2007.)
Email messages can be extremely effective for confirming appointments, sending post-op care, new patient welcome and even birthday wish messages.
Cell Phones & Text Messaging
More patients depend on cell phones, pagers, and email for their communication needs than ever before. In fact, according to an article in 2003 by CNN, “43 percent of homes in the U.S. use cell phones as their primary phone”.
Text messaging, also called SMS (Short Message Service) is a service available on digital mobile phones that allows short text messages (up to 160 characters) to be received and displayed on the phone. There are currently 182,140,362 US wireless subscribers, 52 percent (ages 25-34) of which sent or received text messages in the previous month. Among younger subscribers “texting” is ubiquitous with 68 percent of those aged 18-24 sending and receiving text messages. Even older folks are getting into the act, with 14 percent of those over 65 using text messaging. (Mark Donovan, VP M:Metrics, March 2007)
The unique benefits of being able to send a text message to a cell phone are the ability to reach patients wherever they are, the speed of delivery of the message reaching the patient in nearly real-time, and reaching the patient directly rather than someone else “giving them the message”. Cutting down on forgotten appointments with same-day reminders as well as being able to quickly fill last-minute cancellations are two examples of how effective this type of communication can be.
There are some companies out there that focus on sending email and text messages. Smile Reminder (www.smilereminder.com) is one that specializes in dentistry and can completely automate the process as they are integrated into the scheduler of the practice’s management software. Another benefit of a service like Smile Reminder for emails is that they use a secure server to send emails out. There has been a lot of press recently about the new HIPAA regulations as it relates to transmitting sensitive patient information online, so dentists need to be aware of how their “regular” email (Outlook, Outlook Express) might be at risk.
Personalization
Practices can actually increase the “high-touch” factor by making a good impression in their email messaging. HTML email enables the ability to embed a digital image (office logo, team picture, before & after) as a jpeg, tiff or other file type within the message. Messages can also include hyperlinks to the practice’s web site.
Many practices have started to realize the benefits of these services and it is highly recommended for the modern digital practice.
Lorne Lavine, DMD is the Founder and President of Dental Technology Consultants. Dr. Lavine holds two prestigious certifications, the A+ Certified Technician designation and the Network+ Certified Professional. These designations demonstrate proficiency in computer repair, operating systems, network design and installation. Dental Technology Consultants provide dentists a full range of services relating to the implementation of technology.
Dr. Lavine can be reached directly at 1.866.204.3398.
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Turn Short-term Windfall into Long-term Gain
Remember when you were a kid and you’d be walking down the street or playing at the park and happen across something that looked like a crumpled piece of paper, but the color grabbed your attention. You got a little closer and the words, “finders keepers losers weepers,” spilled out. It was your lucky day, someone had dropped a dollar or two on the ground and with no way to know whose it was, you claimed it as your own and stuffed it in your pocket. You trotted off to the candy store and immediately put that little windfall to good use. You felt rich and lucky for the day.
Today, “little windfalls” certainly can yield bigger returns than the candy store did if we know where to spend, or rather invest them. Should you find yourself with a cash reserve that you can hold on to for a while, consider a temporary investment that will allow you to earn as much interest as possible. Investment firms can help you with the specifics, but three of the most popular short-term investments are money-market funds, certificates of deposit, and Treasury bills.
Money market funds – A money market fund is a type of mutual fund that is required by law to invest in low-risk securities. These tend to be some of the most stable and safe investments. They provide a fixed return and carry a relatively low risk while still offering high returns in comparison to similar low-risk investments. During times of economic uncertainty or fluctuation, money market funds can provide a temporary financial shelter that allows you to watch the market and see what direction it is heading as well as where interest rates are going.
Certificates of Deposit - These are federally insured deposits issued by banks and savings-and-loan institutions and are available from most full-service investment firms. You can invest as little $1,000 for three months to 30 years. A CD is a special type of deposit account that typically offers a higher rate of interest than a regular savings account. Unlike other investments, CDs feature federal deposit insurance up to $100,000.
According to the US Securities and Exchange Commission, when you purchase a CD, you invest a fixed sum of money for fixed period of time – six months, one year, five years, or more – and, in exchange, the issuing bank pays you interest, typically at regular intervals. When you cash in your CD, you receive the money you originally invested plus any accrued interest. But if you redeem your CD before it matures, you may have to pay an "early withdrawal" penalty or forfeit a portion of the interest you earned.
Although most investors have traditionally purchased CDs through local banks, many brokerage firms and independent salespeople now offer them. And investors may now choose from a variety of CDs including variable rate CDs, long-term CDs, and CDs with other special features.
Treasury bills (T-bills) - These are sold in terms ranging from a few days to 26 weeks. The bills are sold at a discount from their face value. For instance, you might pay $970 for a $1,000 T-bill. When the bill matures, you would be paid $1,000. The difference between the purchase price and face value is interest. T-bills are sold in increments of $1,000, and the minimum purchase is $1,000.
According to the US Department of Treasury, you can bid for a bill in two ways:
- With a noncompetitive bid, you agree to accept the discount rate determined at auction. With this bid, you are guaranteed to receive the bill you want, and in the full amount you want.
- With a competitive bid, you specify the discount rate you are willing to accept. Your bid may be: 1) accepted in the full amount you want if the rate you specify is less than the discount rate set by the auction, 2) accepted in less than the full amount you want if your bid is equal to the high discount rate, or 3) rejected if the rate you specify is higher than the discount rate set at the auction.
Put the little “windfalls” to good use on a short-term basis and you’ll find you’re better prepared in the long-term.
Sally McKenzie is CEO of McKenzie Management. a nationwide dental management, practice development and educational consulting firm. Working “on-site” with dentists since 1980, McKenzie Management provides knowledge, guidance and personalized systems that have propelled thousands of general and specialty practices to realize their potential. Sally can be reached directly at 1.877.777.6151
Interested in speaking to Sally McKenzie about your management concerns? Email her at Sally@thedentistsnetwork.net
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