Should Dental Specialists Compete on Prices?

February 24, 2015    By Becky Sheetz ()

Should Dental Specialists Compete on Prices?

Every specialist we talk to agrees on one thing: The dental field is tough, and it’s not getting any easier to be competitive. In most cases, patients can find lower-cost options for the kind of treatments you provide. Because of this, some specialists may want to slash prices to undercut the competition and keep their schedules full. It can be a tempting option, but for most dental specialists, it’s not the path they should pursue.

See Also: Why You Need to Build Your Dental Practice’s Brand (And How to Get Started)

We know that most specialists don’t want to build their practices by competing with other practitioners on price alone. Today, no matter what a consumer is looking for, he can almost always find it cheaper someplace else. If the cost of services is the most important factor, your prospective patients can probably find bargain alternatives elsewhere. Sure, there is a market for the least-expensive provider in town—and that dental office will probably stay busy. But remember, busy does not always mean profitable.

Highly skilled endodontists, oral surgeons, orthodontists, pediatric dentists, periodontists and prosthodontists are rare professionals. You know that your services are not a common commodity. Similar to all services and products, value and expertise come at a cost. You want your patients to be willing to pay for the valuable care you provide. Dental specialists who realize this and market to those patients don’t have to compete on price. By making their qualifications, services and benefits clear, they attract the patients they want.

If you don’t want to be the cheapest option, you should do the same.

Marketing to boost your practice value

If you’re not attracting patients who can and will pay accordingly for the expert services you provide, it’s time to carefully examine your marketing strategies. The caliber of your service and treatments should be clear—from your Web site to your newsletters and social media. Through the imagery and language you use, is it clear to patients why your services are of good value? This is where online tours of practice offices can go a long way. Money-saving marketing is fine for cost-cutting dental providers, but dental specialists who seek to communicate rare value must step it up.

Referral-generating newsletters are one way that dental specialists can communicate premium value to referring providers. Newsletters demonstrate that these specialists have the expertise to meet the needs of their colleagues’ patients. With newsletter marketing, they can make a highly professional impression—cost effectively.

Successful dental specialists are able to charge for their expert services appropriately if—and only if—they market effectively and to the right people. Are there inconsistencies between your treatment fees, your premium services and your marketing strategies? If so, are you ready to make the necessary adjustments so you no longer need to compete on price alone? To learn more about how newsletter marketing can help, contact info@wpicommunications.com or 800-323-4995.

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