The New Orthodontic Practice Management Model Wm. Randol Womack, DDS, Board Certified Orthodontist Editorial Director, Orthotown Magazine

 
The New Orthodontic Practice
Management Model

by Wm. Randol Womack, DDS, Board Certified Orthodontist
Editorial Director, Orthotown Magazine

With fall in the air (still in the high 90s where I live in Arizona, but any double-digit temperature is "fall" to us) the end of another year is fast approaching. It has been a very good year for us, but the proof is really in the feedback from our readers. Because we want you to help us keep score, we plan to do another survey before the end of the year. This helps us plan for more of what you (our readers) like or would like to see in the year to come.

This year provided orthodontics with many challenges for growth and development. The latest reports show that most orthodontic practices are operating at 70 percent volume. Just getting through another year of questionable economics while keeping some degree of stability in the practice is a sobering and maturing experience for many doctors. It demands that all aspects of the practice be evaluated and, in many instances, restructured. The practice of today and tomorrow is certainly not the same as it was in 2007. And for many reasons, that might be a good thing. Scaling back and becoming more efficient may be the new practice management profile.

There are some great opportunities available today because of the "new environment" of the orthodontic practice. More CE courses are being offered, many equipment "specials" are now available, pricing in all areas of the office is more attractive, and Internet marketing is at the forefront, as well as the impact of social networks when used appropriately. Here are some interesting statistics I learned from Hensley Partners consultants:

Internet Usage
  • 80 percent of Americans use the Internet
  • 70 percent of Americans use the Internet for searches
  • 60 percent of Americans use the Internet to research products or services
  • 60 percent use the Internet daily
  • 40 percent search every day
  • 20 percent research every day
Social Media
  • 500 million+ on Facebook
  • 100 million on Twitter
  • Adult social media usage doubled from 22 percent (2009) to 42 percent (2010)
Many new areas of impact are now a challenge to learn and implement. However, opportunities abound because of the evolutions that have taken place over the past two years. So spend some time learning and becoming informed about the way practice success is being redefined for 2011.
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