Acquiring dental charts from another dentist is one way to add patients. Dentists in transition love to sell their patient list and this could be a win-win for all involved. The big question is how much are their charts worth?
To me, the bigger question is what type of dental patient charts are you buying?
Let’s start with questions that you should ask the selling dentist.
1. Is this a state funded, PPO, or fee-for-service dental practice?
2. How close do the patients live near your office or am I expected to work in your office?
3. Does that dentist work 1 day a week or full time and retiring?
4. How much did these active patients produce for you last year?
5. Am I buying the past due accounts or starting off fresh?
Next, let’s discuss a few options.
1. Pay a flat rate for all the patient charts.
2. Come up with an amount that is paid as a large amount down and then a percentage of production or collections from the acquired patients over the next 6 months.
3. Pay as patients convert over to your office.
What next? Now that you own the charts, what do I do?
1. Don’t let the doctor send out a retirement letter of any sort until you are ready to approve the letter and mail one of your own introduction letter with it.
2. Market yourself!!! Show them why they should come see you.
3. Send video, oversized postcards, emails, letter with a picture of you!
4. Stay in touch and introduce yourself.
I love it when we can acquire a patient for $25-50 per patient. However, I have seen fees as lower and much higher. It all depends. Let me know if you need help in making a business decision.
Coach Heidi Mount