Alex Nottingham, JD, MBA discusses the financial drain of cancellations in your dental practice – visit allstardentalacademy.com/webinar for free training.
Resources:
- Dental Practice Growth Webinar
- All-Star Live Dental Training Events
- Dental Coaching
- All-Star Online Training
About Alex Nottingham JD MBA
Alex is the CEO and Founder of All-Star Dental Academy®. He is a former Tony Robbins top coach and consultant, having worked with companies upwards of $100 million. His passion is to help others create personal wealth and make a positive impact on the people around them. Alex received his Juris Doctor (JD) and Master of Business Administration (MBA) from Florida International University.
Episode Transcript
Transcript performed by A.I. Please excuse the typos.
00:00
This is Dental All-Stars, where we bring you the best in dentistry on marketing, management, and training. Here’s your host, Alex Nottingham. Welcome to Dental All-Stars. Our topic is the cost of cancellations. And why is this important? Well, it’s a loss of revenue. Let’s look at some conservative numbers. Doctor produces $500 an hour, hygiene $100 an hour. And then let’s just say…
00:30
that doctor gets two broken appointments per week, that’s four weeks per month, that’s $500 an hour, that’s $4,000 in doctor’s schedule for broken appointments. Hygiene, eight broken appointments per month for hygiene, four weeks per month, $100 an hour, $3,200. And if you add that up, that’s $7,200 loss per month from broken appointments. So you’re working harder, not smarter, and it’s a big drain on energy.
00:58
Our head instructor Larry Guzzardo says, not having a broken appointment policy is like taking a fly swatter to a rhinoceros. Good luck. The reasons that cancellations occur is that thorough documentation is not happening. Also, you don’t understand how the patients think or feel. And lastly, you don’t realize that patients can be trained. Cancellations can be very costly. You’re seeing it’s $7,200 a month.
01:27
nearly $90,000 a year, and we didn’t even take into effect the lifetime value of a patient. It’s expensive, it’s a drain on your practice. So what do you do about it? Well, I’m gonna give you the webinar, allstardentalacademy.com backslash webinar. I tell you exactly how to get rid of these cancellations, these broken appointments. We also talk about phone skills, we also talk about reducing turnover. So that’s allstardentalacademy.com backslash webinar.
01:57
And until next time, go out there and be an All-Star. We hope you enjoyed this episode of Dental All-Stars. Visit us online at allstardentalacademy.com.
