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Top 10 Dental Clinic Painpoints Clinic Owners Will Face in Singapore in 2023


Medtrik works with doctors who require assistance to grow and improve their clinic practice.

Introduction

As a clinic owner, you will most likely face unique challenges and pain points that can be difficult to navigate on your own.


From managing staff to dealing with insurance companies, there are numerous obstacles that can make running a clinic a stressful and overwhelming experience.


From our research, here are the top 10 pain points that clinic owners face and some of the potential opportunities that data can help to open:


Top 10 Dental Clinic Painpoints


1. Inability to hire and retain staff

Medtrik uses data to help clinics improve their manpower allocation in the clinics

Finding and retaining skilled staff can be a major dental clinic pain point. With high turnover rates in the healthcare industry, clinic owners need to be proactive in their hiring process and ensure they have adequate resources for training and development.


Using data to improve hiring and retention rate

  • Find out whether the team is over or understaffed

  • Find out what majority of time is spent on to improve manpower allocation

  • Find out where the peak and low peak seasons are to increase and reduce manpower

2. Patient scheduling

Medtrik helps clinic owners improve patient scheduling so that they improve clinic revenue.

Balancing patient needs with staff availability can be a delicate dance. Clinic owners must find a way to manage patient scheduling effectively while also ensuring that their staff is not overworked or overstressed. In fact, this is one of the key dental clinic pain points that we have heard from dental clinic owners themselves.


Using data to improve patient scheduling

  • Find out seasonality trends in new and returning patients

  • Find out popular days and times for patients

  • Reduce low chair occupancy rates for clinicians

Find out more how Medtrik can help you increase chair occupancy rate and reduce no-shows.


3. Insurance and billing

Medtrik helps clinic owners and clinicians prioritise insurance vs private patients

Dealing with insurance companies and billing can be one of the most frustrating aspects of running a clinic. Clinic owners need to have a comprehensive understanding of insurance policies and procedures to ensure that they are able to bill effectively and get paid in a timely manner.


Using data to increase overall billable hours

  • Better meet clinic and clinician Key Performance Indicators (KPIs) by scheduling the right mix of insurance and private patients

  • Compare monthly insurance to private patients revenue generated from treatments to better understand the right target audience to market to

  • Provide training to both clinicians and appointment setters to improve the overall production revenue per day.

4. Marketing and patient acquisition

Medtrik helps doctors and clinic owners improve patient acquisition using data while lowering marketing costs.

In today's competitive healthcare environment, clinic owners need to be strategic in their marketing and patient acquisition efforts. From digital marketing to traditional advertising, clinic owners need to find the right mix of strategies to attract and retain patients.


Using data to optimise marketing spend and patient acquisition

  • Identify key customer segments that are high-value

  • Identify gaps in customer segments that are high-value

  • Identify the right treatment mix for each clinician to increase production value

5. Regulatory compliance

The healthcare industry is heavily regulated, and clinic owners need to ensure that they are in compliance with all relevant laws and regulations. Failure to do so can result in fines and legal issues.


6. Technology

In today's digital age, technology plays an increasingly important role in healthcare. Clinic owners need to stay up-to-date on the latest technology trends and ensure that their systems and processes are efficient and effective.


Using data to identify technological gaps

  • Identify gaps in the patient journey to increase accessibility for patients

  • Identify functions that are redundant to improve clinic efficiency and productivity

  • Identify and improve efficiency and popularity of key high-value treatments with upgraded technology

7. Inventory management

Managing inventory can be a time-consuming and challenging task for clinic owners. From ordering supplies to tracking usage, clinic owners need to find a way to manage inventory effectively while also minimising waste and reducing costs.


Using data to improve inventory costs and management

  • Improve profit margins of the clinic by analysing historical data and forecasting for future trends e.g. GST increase, seasonality trends

  • Plan for inventory costs effectively by forecasting usage of product items based on seasonality trends and prior patient records

  • Reduce overbuying or underbuying

8. Increased competition

With so many clinics and healthcare providers vying for patients, clinic owners need to find a way to stand out from the competition. This requires a strong marketing strategy and a commitment to providing high-quality care.


Using data to be priced more competitively

  • Compare price trends and patterns of neighbouring clinics in country, district and location

  • Adjust treatment prices to improve new patient flow

  • Come up with competitive pricing strategies in marketing campaigns that will attract new patient flow

9. Patient satisfaction

In addition to providing high-quality care, clinic owners need to ensure that their patients are satisfied with their experience. This requires a focus on patient communication and engagement, as well as an understanding of patient needs and preferences.


Using data to improve positive patient experience

  • Find out key sources of patient flow to optimise the patient journey

  • Find out gaps in the patient journey to better improve patient journey

  • Find out reasons for declining new patient flow.

10. Financial management

Managing the finances of a clinic can be a daunting task. From budgeting to financial reporting, clinic owners need to have a solid understanding of financial management to ensure that their clinic is profitable and sustainable.


Using data to improve cashflow

  • Plan for low peak months by monitoring data trends from the last 12 - 24 months

  • Reduce unnecessary expenses from your monthly financials

  • Streamline operations by cutting out duplicate manpower resources

Conclusion

Running a clinic is not an easy task, and there are numerous pain points that clinic owners must navigate. From staffing to patient scheduling to regulatory compliance, clinic owners need to be proactive and strategic in their approach to ensure that their clinic is successful and sustainable. By addressing these top 10 pain points, clinic owners can create a more efficient and effective healthcare environment for their staff and patients alike.


Interested in improving and growing your clinic practice? Book a free demo with us to get insights on how to better optimise your clinic.


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