I’ll admit. When I first started out in practice, I had a bad attitude about price. I hired a reputable group to help with dental front office training. Specifically on how to answer the phone correctly to convert leads into scheduled patients. We needed a boost in new patient numbers and this group claimed that they could help. At that time we were not recording any of our calls. Once we started recording them, the team would gather as a group and weekly review new patient phone calls. The calls opened my eyes to what patients were really wanting. Nine times out of ten they wanted to know about…..price.
How much does that cost?
When consumers consider the purchase of anything, “How much?” is usually the 1st question they ask. Often, it’s the ONLY question. That’s too bad. Even though that is a useful question, it doesn’t begin giving consumers enough information to skillfully make a significant purchase.
Consider the purchase of a new home. If someone is in the market to move up in house and find two that they like, their first question is going to be, “How much?”
Let’s break this down:
- House A = $100,000
- House B = $250,000
The choice seem fairly obvious at this point, right? Actually it shouldn’t because the only thing we know about at this point is price.
The seller of House B obviously thinks his pad is worth 2.5x the owner of House A. Maybe he’s right. Maybe he’s not. We won’t know until they both sell.
If both homes have the same floor plan, same amenities and were built the same year, how would you explain the cost difference?
The difference in price could be due to the difference in cost. One house may simply be more expensive to own, driving down the price an individual in the marketplace is willing to pay for the house.
What if both houses had been for sale $250,000 two years ago, but one house was located in a flood zone and the government just announced it would no longer offer participation in the flood insurance program for that house. Suddenly, the cost of ownership has gone way up, which drives the price the market is will to pay way down too. Actually down, in our example to $100,000.
But cost of ownership is not the only factor influencing price. Value is often a huge consideration. Let’s go back to our house example.
Let’s add in another factor. One house is located in rural town Arkansas and the other is located in Beverly Hills, California. According to Zillow, the average 3 bedroom home price in rural town Arkansas is $145,000, while the average 3 bedroom home price in Beverly Hills is $845,000.
We all know that everything is more expensive in Beverly Hills. But the price of the home there is also telling us the market values in that location is nearly 600% more than the same home in Arkansas.
Thinking through the price/cost/value ratio is critical to making wise decisions. The problem with this is that consumers rarely think through all three and tend to only focus on price.
Whenever someone calls your practice asking, “How much does X cost?” it’s important that your team knows the reason behind this. That’s really the ONLY thing they know to ask about. In their eyes, there is no difference in the numerous specialists and dentists that are advertising to them daily about procedures such as implants, invisalign, etc.
Unfortunately, we are making our industry a commodity. Don’t believe me? Look what the Smile Direct Club is doing to the orthodontic industry. Now consumers can bypass the orthodontist and have their teeth straightened in the comfort of their own home. Simply stop by one of their “smile centers” for a scan or take a mold of your mouth with a kit that they mail to you and that’s it.
Each month, clear retainers are shipped directly to you instead of having to take off work/school every 4-6 weeks for an adjustment. The company is smart. They looked at one of the major problems people have with ortho treatment and set out to solve it.
Last year, I asked a private client that was frustrated with the ill-performance of his Google implant ads, “How does your team answer a potential new patient caller that asks, “How much do you charge for implants?”
He didn’t have a clue not only how they were answering but also what they were SUPPOSED to say.
If the owner of the practice doesn’t know, who does?
When consumers call and ask about the price of procedures such as implants, your team MUST know that this is the ONLY thing they know to ask. They must take control of the call (most only answer questions), and then find out the “emotional” reason for the call.
Once this connection is made, there is a better chance of not only getting the patient booked but also getting them to say “Yes” to your treatment recommendation.
Dental Front Office Training
Are you interested in:
- Increasing your new patient numbers without any extra ad cost?
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- Increasing your monthly collections
- Getting more patients to accept your care?
- Have unlimited access to staff training
Our new training system is launching in one month.
It will sell for $997.
The first 11 docs that email email@example.com will lock in a 50% discount ($497).
The only “catch” is that we want your feedback on what you think of the training and any suggestions you have that can make it better.