Financial Strategies to Boost Profit

To improve your dentistry practice profit, you need a clear picture of your current profit margins. As part of your financial strategy, track the following dental office KPIs and improve them as needed:

• Overhead costs: Regularly review expenses and eliminate unnecessary costs that drain resources.

• Revenue per patient: Improve case acceptance rates by clearly communicating treatment value to patients.

• Patient retention: Foster long-term relationships for more stable and predictable revenue streams.

• Collection rate: Monitor the percentage of billed services that are actually collected to identify billing inefficiencies.

• Production per hour: Track how much revenue your practice generates during actual treatment hours.

The American Dental Association points out that the average overhead for a general dental practice can consume a significant portion of collections, so carefully track expenses and reduce unnecessary costs. To lower your overhead costs, look at areas where you can minimize expenses without affecting patient care, such as:

• Negotiating with suppliers: Compare vendors regularly and leverage bulk purchasing to secure better rates. Many practices saw significant savings simply by reviewing supplier contracts annually and negotiating volume discounts.

• Energy-efficient equipment: Invest in modern tools that reduce utility costs over time.

• Digital solutions: Replace paper-heavy processes with digital alternatives to save on printing costs and lower administrative overhead.

You also need to set the right fees to be profitable but still competitive in your market. Conduct regular fee analyses to ensure your prices align with regional averages and reflect your expertise. It’s worth considering implementing value-based pricing for premium services where you have specialized training. An in-house dental plan can also generate predictable revenue for your practice.

Operational Efficiency Strategies

Improving office efficiency can also impact your bottom line. 

Small inefficiencies add up, leading to longer wait times, unnecessary stress, and wasted time. The good news? A few smart changes can make a big difference.

Start by taking a close look at your workflows. Where do things slow down? Are patients waiting too long to check in or be seen? Are staff members constantly moving back and forth for supplies? These small bottlenecks can disrupt the entire flow of your practice. Ask your team where they feel time is being wasted—chances are, they already know what’s frustrating them. Even simple fixes, like reorganizing treatment rooms or moving frequently used tools to more convenient spots, can help things run more smoothly.

Scheduling plays a huge role in efficiency. If last-minute cancellations or gaps between appointments are a problem, switching to a smarter scheduling system can help. A good digital scheduling tool can minimize downtime and prevent overbooking. Patients will appreciate shorter wait times, and your team won’t feel overwhelmed trying to squeeze people in or juggle an overloaded schedule.

Practice management software, like Dentrix or Open Dental, keeps everything organized in one place so your team isn’t constantly jumping between systems.

Payments are another area where technology can make life easier. Digital payment platforms, like Weave Payments, let patients pay quickly and securely, reducing the need for follow-up calls about unpaid balances. Lastly, patient communication tools send automated reminders and follow-ups, which can cut down missed appointments.

Expand Services to Increase Revenue

Now that you've optimized your operations, consider expanding your service offerings to attract new patients and increase revenue. Here's how you can do that:

• Add high-demand services: Integrate high-demand services like cosmetic dentistry, orthodontics, or sleep apnea treatments. This can increase patient volume and attract new patient demographics. Offer in-house specialty services, such as dental implants or Invisalign, to reduce the need for referrals and keep revenue within your practice.

• Continuing education and specialization: Investing in additional training for yourself and the team enables you to perform advanced procedures. New certifications expand your service offerings and position you as an expert in specialized areas. This expertise can command higher fees and attract patients seeking those specific treatments.

• Use cutting-edge technology: Embrace innovative technologies like AI-powered diagnostics to improve the precision of your procedures. These technologies can reduce chair time and improve patient outcomes, both of which have a positive impact on your bottom line.

Use Marketing to Attract New Patients

With your expanded service offerings in place, it's time to attract the patients who need those services. A marketing strategy that includes creative ads is important to get your name out there and book more appointments.

First, look at your website, which is often the first impression of your practice. Optimizing your website for local SEO helps new patients find you when they search for dental services in your area. Ensure your site is mobile-friendly and includes clear calls to action, so it is easy for visitors to schedule appointments.

Positive reviews can significantly influence potential patients. Encourage satisfied patients to share their experiences online and highlight them on your website.

If you haven’t already, create a Google Business Profile to make it easier for patients to find you and get in touch. As you’re setting up your account, pay attention to the following:

• Ensure your practice information (hours, location, services) is accurate and complete

• Regularly post updates about your practice, special offers, or oral health tips

• Respond promptly to all reviews—both positive and negative—to demonstrate your commitment to patient satisfaction

• Add high-quality photos of your office, staff, and equipment to build trust

You can also engage your community through videos on social media. For example, you could:

• Create short educational videos about common dental procedures to reduce patient anxiety

• Share patient testimonial videos (with permission) on social media and your website

• Develop "meet the team" videos to build personal connections

• Use live videos for Q&A sessions about popular treatments

A referral program is another great way to motivate existing patients to bring in friends and family.

Use Smart Staffing Solutions

Your team is the foundation of your practice, but staffing costs typically represent the largest expense category for dental offices. That's why you should consider implementing flexible staffing strategies that combine permanent and temporary employees to help you manage these costs.

For permanent staff, regularly evaluate your staffing levels to prevent underutilization. An efficient scheduling system can optimize your team's productivity and reduce unnecessary payroll costs.

During peak times or unexpected staff shortages, use a platform such as Teero to find temporary dental hygienists. This approach helps you maintain service levels without the long-term costs of additional permanent staff.

Build a Profitable Practice Without Compromising Patient Care

Running a successful dental practice isn’t just about seeing more patients, it’s also about working smarter. When you optimize financial management, streamline workflows, and make data-driven decisions, you create a more efficient and profitable practice while still delivering high-quality care.

Finding the right team plays a big role in that success. Teero makes staffing simple by connecting you with personally vetted, highly skilled hygienists for both temporary and permanent roles. We take care of the hiring process, payroll, and administrative details, so you can stay focused on your patients and your practice.

Get started today by giving us a call.