Retaining Patients is the most critical concern a buyer tackles after buying a Practice. Successful patient retention requires a business plan to be implemented immediately after closing, the duration of which lasts from the initial introduction of the buyer and staff until the selling doctor no longer practices dentistry in the practice.
At SET, we help buyers chart and implement their plans to transition patients. Contrary to popular belief, almost all transitions of dental practices retain 90% of the active patients if certain procedures are followed. We use the tried and true measures that I have seen work over the past twenty-five years to ensure successful conversions.
For example, the buyer should be introduced to the staff within 1 day of closing. We have strategies for this introduction, as well as for the staff to introduce the new doctor to patients. We also like for the buyer to send a letter to all active patients introducing him/herself as the new owner within 3 days of the closing. And if the selling doctor stays on, we like to coach him/her on how to handle the staff and patients post-sale based on how long the selling doctor will continue to work in the practice.
Southeast Transitions can help protect the seller’s legacy, the buyer’s success, and of course, the patients’ satisfaction. We excel at planning for maximum patient retention.
Bill Adams, DDS, FAGD, Founder
Did you like this article? Check out our other dental industry blog posts such as making an offer to buy a dental practice and do I need a help buying or selling a dental practice?
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