August 2023
In Bulletproof Dental Practice Podcast Episode 302, hosts Dr. Peter Boulden and Dr. Craig Spodak ask Patient Prism’s co-founder and CEO, Amol Nirgudkar, about the ways in which Patient Prism helps independent dental practices compete with DSOs.
Nirgudkar explains that the primary way is through enabling optimal lead conversion. The front desk is assisted in converting more prospective high-value patients into scheduled patients.
But an additional way is by automating data collection and assisting dentists in using the data for making business decisions.
In the following excerpt from the podcast, Dr. Boulden asserts that Patient Prism's micrometrics are "next-level information for high-level business operation."
"Dentists tell me all the time, 'Amol, my conversion rate is at 85%. I'm so busy I don't need Patient Prism.' But when we look into their conversion data, we may find they are booking 93% of patients calling for Hygiene and booking only 44% of patients calling for orthodontics."
This is where DSOs using Patient Prism have had an advantage over independent dentists. Their business managers have taken the time to dig into the micrometrics and determine it's in their best interest to make booking the highest-value patients their priority. A patient shouldn't have to wait weeks or months to start Invisalign treatment. If they have to wait, they will call another provider.
Patient Prism is affordable for private dentists and their practice managers. Independent dentists can dig into their micrometrics and make sound business decisions just like DSOs do.
"We're giving practice owners insights into doing things that don't require them to spend more money," says Nirgudkar.
Without spending more, they know where to focus their attention on solving scheduling issues and improving communication.
The ROI from increasing the velocity of high-value new patients coming through the office is so great that they can do more to ensure the health and growth of the practice.
Metrics reported by Patient Prism are used to improve not only lead conversion and scheduling but also retarget or pull back on their advertising.
Having precise measures of the demand for their services and their schedule capacity from Patient Prism, they can forecast revenue and make decisions related to hiring, technology investment, PPOs, fee schedules, advanced training courses, and more.
By responding to Patient Prism's follow-up alerts and DeepLens call summaries, a private dentist's front desk can convert 25% or more of the patients they call back and assist in accessing care.
"As the front desk is constantly coached by Patient Prism, the practice will bring in more patients without spending more on marketing.
"The objective is to schedule 85% or more of the new patients who inquire about the highest-value services. This requires reserving appointment slots for them, so they can be seen within a few days, not weeks.
"But this is just part of the platform's power. Patient Prism micrometrics inform and empower both DSOs and private dentists to confidently craft multiple growth strategies."
– Amol Nirgudkar, Co-founder and CEO of Patient Prism
Patient Prism is designed to deliver actionable intelligence and be easy to use. Learn more by reading these 2023 Patient Prism articles: