“Another Year. More Bankrupt Dentists.”

Last year at this exact time I wrote a very polarizing blog post that garnered a lot of media attention and was viewed by over 100,000 dentists on Social Media that boldly predicted 2018 would be “the year of the bankrupt dentist”. There are often times in my career that I wish I was dead wrong, but unfortunately, over the last decade, every single prediction I’ve made has come true. Now while I’m not some sort of Nostradamus 🧙‍♂️ …2018 was not kind to the majority of solo dentists in this country and it’s not getting any easier as the trend is going to bleed well into 2019 with no end in sight.

See I have the unique privilege to have founded Local Search For Dentists®, the ONLY 4X Inc 500/5000 Approved Dental Marketing Agency, which affords me the rare opportunity to communicate with thousands upon thousands of dentists on a weekly basis. Unfortunately, in 2018 I received more “pleading” letters than EVER BEFORE from dentists (of course who are NOT my clients!) filing for bankruptcy or darn close to it…begging for my undying help. UGH! So sad …but also so unnecessary. Dentistry has changed forever and you must be prepared!

I desperately urge you NOT to ignore this blog post as it may just save your practice, your family and your livelihood. The industry I love so much, Dentistry, is under attack. And It’s happening as I type this.

I write this to warn, inform and help. NOT scare.

Dentists all over North America are going bankrupt (or REALLY struggling financially) and they’re contacting me…pleading for my help. We know this to be true because JADA has reported fewer dentists own dental practices now than a decade ago. Unfortunately for them, it’s too late, but you, I can 100% help.

Here’s an example of one of the emails I’ve received. I’ve redacted his name for the sake of privacy.

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See how fast bankruptcy can creep up on a private practice? A year ago, things were “fine”. I can’t help this person, but the bigger lesson here is “inaction and indecision”.  Remember more harm is done by indecision than a bad decision. That is more bankruptcies notices in 6 months than in 10 years!!!

Too many doctors believe that
“What used to work will keep me successful forever”.

The facts for this occurrence are simple (but ignored by 99% of dentists who refuse to change!)

  1. Corporate dental practices and dental support organizations (DSO’s) invading cities and breaking private practices over their knees in a matter of months, regardless of market size (urban or rural).
  2. Patients spending less money than ever (hoarding cash due to economic uncertainty, looming economic policies, employment uncertainty, and a polarizing political environment).
  3. LARGE private mega practices buying up everything in sight, including market share.
  4. Insurance manipulation and domination of the market place.
  5. Young Millenial dentists who know how to invest in modern marketing methods for their practice in this new dental economy.
  6. Dental Practices lose 12% of their patient base (national avg) each year and have no marketing system in place to replenish these patients year over year. (src: ADA)
  7. Dentists using “old and outdated” new patient acquisition strategies, like “word of mouth”, or a “website” which is NOT marketing (or worse yet…you do NOTHING at all to attract more new patients!).

This is NOT a death sentence. I can help you fight this and win!

Do NOT be a stick in the mud, who refuses to change. 2019 can be that year for change. Let’s take action and do this together! Let’s save this industry from its slow, lengthy undoing and raise it up to greatness again. I want to help you put an action plan together to fight this.

One word of WARNING: This action plan will disappear without notice! So don’t delay.

Check it out by clicking the link below (it is truly the only way for me to help you succeed and survive):
https://www.localsearchfordentists.com/action-plan

Be Bold & Do Something Great!
Graig Presti
Founder & CEO of Local Search For Dentists ®, The ONLY 4-TIME Inc. 500/5000-Approved Dental Marketing Agency
#1 Best Selling Author
Dental Economics Magazine Author & Contributor 

PS- Life does get in the way but THIS is the simplest way to keep patients on track, reactivating patients and SPARKING that REFERRAL fire all in one fell swoop with almost ZERO effort what so ever…

Check it out by clicking the link below:
https://www.localsearchfordentists.com/action-plan

One of my private clients (who will remain nameless) is already breaking his competition in half ….buying practices, just killing doctors who won’t change.

So, if you’re struggling with making heads or tails of what to do that can specifically help you grow your practice then this action plan is a “glove fit for you”.

Check it out by clicking the link below:
https://www.localsearchfordentists.com/action-plan


Comments: 3

  1. I am a 72 year old dentist that would like to stay in practice at least 5 more years. We target the older segment of the population 50+ years of age as I have found that the majority of them relate to me and I enjoy working with them. I understand that nowadays our practices have to be more involved with all aspects of social media. However, I feel that the majority of our older patients do not subscribe to the normal channels of today’s social media and we have to market to them through different means. Do you think you can help our office in view of this?

    • I agree with you totally. The over 50 population is smart enough to realize what a time waste the facebook and different social media can be. They also understand YELP and how much of the reviews are false or coerced by owners of the business. The fact that many businesses offer an incentive to give the business a 5 star review : such as a free whitening (bleaching) in office session or a free bleaching tray, or $10.00 off their bill, or a starbucks gift card completely makes the review process a form of illegitimate and false advertising. I think the older generation remembers when dentists didn’t advertise and because of this they see advertising forms such as reviews to be somewhat of a ploy in general, they have more of an ability to spot such forms of advertising, analyze it and see it as falsified information. Thus, they are not interested in the internet for this type of information. They want to get their references directly (face to face) from someone they know, such as coworkers, friends and family. So, maybe reaching out to them when they leave by saying I hope you refer a friend or coworker and offer the same kind of incentive for a referral of a friend such as a credit to their bill or a $10.00 gift card for each referral. Then you could also give the current patient coupons to pass to coworkers or friends for a free exam or a free bleaching or for 10% off first visit x-rays and cleaning. You could also offer these incentives in an e-mail if you collect e-mails of current patients.

  2. Greg,

    I hear you and took matters into my own hands. I have been practicing dentistry since 1986 and if it wasn’t for a unique niche in this field, I probably would be in the same predicament. But doing something in the Buffalo, New York area that no other dentist will do puts my practice over all the others. While many of them claim to insert the most implants or they are the best at cosmetic dentistry, that is all fine and good but their prices and advertising costs must go thru the roof. As for me, I spent exactly zero dollars to get patients to find me. I do not advertise, no billboards or fancy radio commercials. You are probably wondering what is it that I tapped into that has not only kept me afloat in the field of dentistry but prospering. Let me give you a little more of my background first and you will be able to understand my unique niche. Before going into the dental profession, I had graduated from medical school in 1979 and did a year residency in general surgery followed by working in multiple hospitals often on a 24 hour shift or even 36 hour shifts so working around the clock I became immune to deprived sleep. Since 2006, I noticed that my practice was sluggish and I had a lot of time on my hands, even though my pricing was lower than a lot of my fellow dentists and it made no sense at all so I had to find another path to improve my bottom line. At that time, I had someone suggest to me about doing Emergency Dental Care of which I turned it into Emergency Dental Care 24/7 which means that 24 hours a day, 7 days a week, 365 days a year that includes all holidays when all other dental offices might be closed, I AM OPEN FOR BUSINESS. Several of my colleagues love it when they can go on vacation or just enjoy a weekend away with their family or friends and they just call me and inform me when they are going to leave their office and when they are going to be back in, at which point I call them up and give them a report of who I had seen, when, what I did for them and any follow up care that may be needed. I do not attempt to steal their patients but rather it gives them peace of mind that I am taking the best care of their patients as well as taking care of my patients as well. The way that I perform such services it to limit the number of regular patients of my practice is to limit them to only six a day and this gives me the opportunity to get patients into the office usually within an hour or two. Many dental offices are so booked up they cannot get them in for days or even weeks on an emergency. In addition, I have estimated that about 70% of people out there do not even have a dentist of record which means that they are potential patients of my practice. For more information, you can contact me at 716-648-1030 or check out my website at http://www.countrydentistry.com. At this point, I am the first and only dentist in this entire region of NY that offers this niche and according to my research, the next closest one is located in New York City, some 400 miles from me. Unfortunately when I retire in May 2022, no one else will do this work which is a shame for there is good money without having to charge a fortune (even thou I could). Just check out the website to see my pricing and you will be shocked.

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