Value proposition might be something heard about widely within business, but what about in dentistry?
A value proposition is looking at the outcomes provided for the patient (i.e. the benefits) and the costs of the service. It assumes that it is best for all when the balance between the price and quality of care is maximized. But healthcare is different to other services as every person relies on having optimal care. Maintaining a balance can be challenging, as reduced revenues can lead to decreased quality of treatments, and higher prices might discourage patients from engaging with care services and overall harming the entire dental industry - for example the perception that dental care is too costly so people will not engage with care.
Developing a value proposition is therefore different to a mission statement as it will give emphasis not only on patient care, but also cost-effectiveness. The healthcare market is competitive so increasing the value of your service will ensure your patients will have the highest quality of care and can be the first step to developing a marketing strategy. But how do you develop your own value proposition?
1. Develop partnerships
Build your offering to patients by working with other health and social care providers and services. Referrals can then be generated, which will generate an income, but also care for patients will be optimal as you are able to work together using each provider’s skill sets and expertise to provide the best quality of care. Working together collaboratively also streamlines accessing services for your patient so it is as easy as possible for them to get the care they need.
For example, you could link with a specialist dental practice which offers more complex treatments for patients you are not able to perform. Working together, you can then refer patients who need this more complex work onwards, and the other practice refers patients back to you for maintenance or more simple treatments. This will benefit both services as well as the patient themselves!
2. Consider incentives
Encourage patients to attend routine check-ups by offering incentives or offers. Preventative care often means conditions are identified and treated earlier - therefore it is in the best interests of your patients for them to attend regularly. This regular attendance also gives your service a steady income stream.
Invest in yourself and your team - keep up to date with new technologies and treatments so you can offer your patients the latest treatments and attract new customers. This could be the latest in whitening technologies or the use of specialist equipment that your competitors don’t have. This will make your practice and brand stand out and patients will only have the option of coming to you for treatment.
What is most important within any business is the customer; in healthcare, it is the patient. Speak to your patients and ask for feedback. What is their journey like and what do they want? Make your brand stand out and listen to patients to ensure you differentiate yourself as a preferred provider based on your individual value proposition.
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