It is almost time to ring in the new year, so make one of your resolutions prepping your orthodontic practice for 2023! In order to start the new year right, you need to spend some time preparing your office and your team for the challenges to come. Review the tips below to make sure your practice can face the new year with confidence.
Establish yearly goals for your orthodontic practice
At the end of each year, review what you accomplished and determine your new goals for the coming year. Decide how much you want to grow your practice and your revenue, and determine what steps you’ll take to reach these goals. Look at what goals you met in 2022; if you didn’t meet some goals, review why this happened and ways to fix these issues in 2023.
Review your budget
The start of a new fiscal year is the perfect time to review your practice’s budget to make sure things are on track. Look at what areas cost more than you’d budgeted and less than you’d budgeted in 2022; increase or decrease these allocations as needed. Look for ways to cut spending—are there certain expenses that are unnecessary? Are there supplies you could get cheaper through another vendor? Also look for areas where you might need to increase spending—do you have a need for more staff? Is your practice management system effective, useful, and current?
This is also the time to review patient accounts and identify who is past due. Figure out how you are going to handle these accounts; if you don’t have a plan in place already for past-due accounts, put one together. Reach out to these patients and see if there is a way you can work out a payment plan.
Review your marketing techniques
Getting your practice’s name out to prospective patients is one of the most important things you can do; with name recognition comes more clients. Figure out your marketing techniques for 2023, and consider taking a marketing workshop to learn new promotional methods. Make sure to ask past and current patients for Google reviews and testimonials, and look at what marketing practices worked and didn’t work in 2022.
Upgrade your practice management system
An effective practice management system (PMS) is necessary for a successful, growing orthodontic practice. Review your current PMS and see if it will help you meet your goals for the new year. Does it make things easier for your patients and team? Does it generate revenue 24/7? If not, it’s time to consider a new PMS.
Greyfinch provides multiple ways to generate income. It has a 24/7 appointment widget, which increases new patient growth by 60% on average by allowing patients to schedule appointments on their own. Greyfinch then automatically updates your calendar with this appointment information and sends out appointment reminders.
It also allows for customizable payment plans and improves collection rates through smart alerts. Additionally, it fields data to help you decide your marketing goals and improves patient reviews by asking for them automatically and at the appropriate time.
In addition to these features, Greyfinch offers a hub where patients can make payments. It also offers electronic insurance claims at no additional charge—easy for your team, AND your office will get paid faster!
Head into the new year with goals and a plan to make 2023 the best year yet for your orthodontic practice. Let Greyfinch pave the way to a year full of record growth and revenue with their practice management system!