Lately, I’ve had numerous clients overtly say they would like to be exclusive in their practice and attract those that like to be part of an exclusive association (not as in the ADA, rather, associated with).
But then later, say they are somewhat less than 100% assured that’s the direction they want to take.
My suggestion: IF that’s what you desire, take it slow and make it happen over a period of time.
It’s like shedding the insurance game. And believe me, it is a game, although, there are profits to be had if you want to play.
For those of you who have purposefully left the game, you likely did not do it cold turkey. Instead, you did it over a period of time. I’m not advocating getting rid of insurance. I think it has its place.
The point is, if you want to move your practice from one of “everyone gets access” to “few if any and then they better have all cash” access, there’s a way to do it and not go broke.
Here are some of the advantages of becoming exclusive (and for whatever reason, whenever I hear that term in dentistry, I immediately think of Dr. Paddy Lund – read his books if you are considering this move or even if you are not – they are incredible):
- To be the owner of something few others can own (or belong to) is a very strong human motivation. It’s like having a Mercedes.
- Generally, those that do belong are less hassle due to the hoops required to gain access.
- You can command higher, justifiably so, fees.
- You can severely limit what you do.
- You can severely limit when you do it.
You can make your product more exclusive (in this case, access to you and your office) by limiting availability and making this fact known not only in your office by PHYSICALLY not being there but also IN YOUR ADVERTISING. In addition, stating: We only accept new patients when referred from current patients. How does a well-respected heart surgeon or neuro surgeon get to the point that people will rob banks to get in…and then they will wait HOURS in a waiting room? Think through this very carefully. How can you adapt those strategies and this incredible human motivation into your practice? It’s doable. But, it’ll be different for each that desires it. Next week: If you’re taking every pt that knocks on your door, how to cope, manage and profit from it.