One of the most important benefits to hiring a part-time dental specialist for your dental practice is the additional flow of income while providing a better patient experience. We break it down for you here.
Don’t miss out on those specialty dollars!
Most dental practice owners refer out thousands of specialty dollars each month. Some general practitioners perform specialty procedures themselves, which may result in inadequate care to their patients. Bringing a dental specialist in-house can both grow your revenue and more effectively serve your patients, especially when it’s a procedure you don’t enjoy doing.
Pair Dental co-founder, Darius Somekhian says it best: “The most common specialty that’s asked for is Endodontics because let’s face it, the general practitioner doesn’t want to sit in the chair for an hour and a half and miss the canal.”
Specialists bill higher for specialty treatments. With an in-house specialist, the practice can earn specialty treatment dollars while continuing business as usual (win, win!). Additionally, specialty patients will be coming from within the practice, meaning there is no acquisition cost involved in lining up a full caseload for your specialty Treatment Day.
How much can the practice earn per Treatment Day?
Here is a list of average Treatment Day production goals per specialty:
- Oral Surgeon: $10,000 – $20,000, depending on the specialist
- Periodontics: $6000 – $25,000, average $12,000
- Endodontics: $5,000 – $8,000
- Surgical: $12,000
- Surgical and Prosthetic: $40,000
- Pedodontics: $4,000 – $8,000, depending on case availability
How much does the practice keep?
The practice usually keeps 50% of Treatment Day production (plus or minus 5%). If a specialist produces $10k, the practice keeps $5k. And that’s only one specialist, one Treatment Day.
But wait! There is additional revenue from:
- Follow-up and restorative care. For example, extractions need implants and implants need crowns… all of which can be done at your practice.
- More patient referrals. Patients perceive a better quality of care at one-stop-shop GPs. The seamless patient experience you offer will have them referring your practice to their friends and family.
- Integrating multiple specialties. Adding more treatment days will create even more opportunities for revenue growth. A General Practice in our network has hired 5 part-time dental specialists through Pair Dental. Altogether, these specialists bring in $75k production per month. The practice keeps 50% = $35k which is $140k per quarter of supplementary revenue.
Adding a part-time dental specialist to your team is a high-impact way to grow your practice— in revenue, reputation, and referrals. Interested in learning more? Schedule a call with a member of our team