One of my favorite marketing trends in our daily lives is the now economy. Everything that you see around that is quick to satisfy the needs of users like Netflix binge series consumption, or Amazons 24 hours or less delivery, Spotify’s unlimited streaming music, among others, are part of the now economy and are impacting almost every single industry where consumers demand their needs to be addressed as quickly as possible and are willing to pay a premium for it or to switch products if their current provider fails to deliver on a tight schedule. All of this is powered by new technologies, both in software, data interpretation and application, and new product features.

In the dental industry this is also a reality, technology is changing reality for dentist, lab technicians and consumers alike and even generating new competitors between players. Dentists now compete with their colleagues on who can provide systems faster and with less pain and hassle. For example, doctors with in-house lab equipment can print crowns and offer same day dentistry have a competitive advantage to others than don’t, this also steals market share from the labs. At the same time in the world of orthodontics, we see new products like those offered by the Smile Direct Club where aligners are mailed directly to customers without having to do periodic visits to their doctor. This means problems or opportunities depending on how and when are you willing to invest in technology and digital dentistry know-how.

Investment opportunities

 1) I would recommend investing in diminishing chair time per appointment with new technologies that use dental guides, some are available for both implants and dental restorations.

 

Guided restoration technology

2) Evaluate the options in the market, perhaps you don’t need to buy all the best equipment, you could focus on one. For example, equipment to make aligners if you focus on orthodontics, or if you are in cosmetics being able to produce crowns and other ceramics in-house gives you an advantage over your competition.

3) Once you decide what equipment to buy, train your staff to use digital dentistry equipment such as scanners, printers, and mills. Being able to complete effectively and with quality will reduce your wait time and cost associated with labs.

4) Promote your new business capabilities to your clients, what is the point of investing 50,000 dollars in a scanner and printing equipment if people don’t know you have such a wonderful service?

5) Finally, stay informed of new technologies and techniques, innovation happens every day so going to tradeshows, following blogs and participating in a study group with collages will not only help you stay up to date but could open opportunities to eventually market yourself as an expert!

I hope you enjoyed this article; do you have any questions on how to improve your practice? Please share them in the comment section and let’s discuss how to bring your game to the next level!