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The health care market is changing. Here’s an example of just how different things are these days… Kiplinger reports that orthodontic work is going on sale.
In this tight economy, some dentists are offering sales and discounts. I just read this in the Kiplinger Letter:
img alt=”teeth whitening sale” src=”http://www.thewealthydentist.com/images/BlogImages/2009/teeth-whitening-sale.jpg” align=”right” hspace=”10″ /> One consolation in this economy: Some medical costs will be cheaper. Orthodontic work is on sale, with many dentists offering big discounts to make up for a 20% decline in business. Other discretionary medical services, and anything not covered by insurance, are also widely on sale to attract customers.
Cosmetic surgery is 10% to 25% cheaper. Sales, too, on LASIK eye surgery.
Along with lower prices, providers are offering easy credit and low interest. Many also offer package deals: A Botox shot along with a nose job, for example.
-The Kiplinger Letter: Forecasts for Management Decisionmaking, 1/2/09
I've been thinking a lot about what this means for dentistry. But before I share my opinions with you, I want to know what you think about all this… I'm wondering about this question: Are you offering promotional discounts for orthodontics or any other services?
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January 28th, 2009 at 6:20 am
Hi Jim,
Promotional savings offers are a tremendous way to boost business in ANY economic conditions…IF they are presented properly, from a positioning of strength and quality instead of desperation and cheap commoditization.
If a dentist never offers savings, but does so now, suddenly because business is slow, it won’t be perceived by patients the same way as it would if the dentist offered occasional savings on certain procedures on a regular basis.
Despite what is believed by many dentists, offers of savings from dentists to their patients and the public CAN be positioned properly, without coming off as too “salesy” or cheap. By lowering barriers to entry into a practice, conversion percentages almost always increase.
All my best,
Chris
Dr. Chris Bowman
Charlotte, NC