Good Signs Abound: “Insightful” Newsletter #2, May 2021

For this month’s installment of Insightful, we’re taking a look at how dental production for the first four months of 2021 compares to the same period for 2019 – before we could even have imagined the pandemic.

From Sikka’s Industry Trends page, here’s production across the entire United States over the past three calendar years:

2021 is the green line, while 2019 is the yellow line. Look at just how closely they’re tracking over the past month and a half. The lines are almost on top of each other for the most recent week! (Obviously, 2020 was far different.)

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Introducing Sikka Insights’ Data Newsletter, “Insightful”

On the first Wednesday of each month, we’ll send you this short newsletter highlighting just a bit of what can be found on our Industry Trends platform.

COVID Trends

While the U.S. remains locked in a race between vaccinations and variants, the difference between today and one year ago today is stark. In the dental industry, there is no clearer numeric accounting of this than in the year-over-year change, just updated yesterday, in various categories of procedures performed. This is because last year’s comparison week was the start of the Covid shutdown, and practices have largely recovered, as the two charts in this email show (click them to see larger versions).

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Optimize “The Great Return” to Normalcy with Practice OptimizerTM

Goals

The past year has brought challenges that would have seemed unimaginable just 12 months ago. While we in the retail healthcare space have risen to meet these challenges, we certainly look forward to happier and healthier times ahead. As we mark a year since the start of the pandemic in the United States and quickly ramp up vaccinations on our way to what you might call “The Great Return” to normalcy, now is the ideal time to reevaluate what you need to do to ensure you maximize effectiveness during this pivotal time in history. A big piece of your planning should revolve around your practice’s financial goals.

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Optimize the Future with Sikka’s Practice Optimizer

Having the industry-leading optimization dashboard wasn’t enough for us – we went and made it better. When our customers asked for reporting in time increments shorter than monthly, we not only added weekly reporting, we went down to daily. This kind of granularity and visibility into the details of your practice’s rhythms allows you to make changes on the fly, not weeks or months later. This, in turn, directly leads to an increase in profits, savings on unnecessary costs and the overall ability to achieve all your objectives, from financial considerations to patient satisfaction.

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Hitting The Ground Running: 5 Simple Ways to Create and Own Your Brand in 2021

It’s safe to say that 2020 was a year of learning and reactions for all of us. 2021 will no doubt be better based on what we’ve all experienced. But how can we be more intentional and take appropriate actions vs always being reactionary?

Please join us for a webinar, hosted by Jeff Pickett from Sikka, as dental industry brand experts Danny Laneri from Swell and Dr. Chad Duplantis discuss 5 simple tactics to create, and ultimately own, your Brand for 2021 and beyond.

Watch the webinar here.

Danny Laneri:

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Delight Your Customers and Save Money – How Two Practices Are Winning with SikkaPay

Please join our webinar hosted by Rory Byrne, GM of Fintech at Sikka, in conversation with Roy Reynolds, Business Manager of Nova Family Dentistry of Tyrone, and Edward Hartzog, GM of Denmark Dentistry. Our guest speakers will share their experiences of SikkaPay and how it has helped them to delight their customers, grow revenues, and save money during these challenging times. Learn how text2pay and web2pay have increased collections by over 15% over the last 6 months. In addition, we will demo some of the new product features of SikkaPay with personalized strategies for helping your customers to migrate to mobile payment channels and pay you faster.

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Use Sikka’s Fee Survey Tool To Supercharge Profits

“I can’t raise prices – I’ll lose customers!”

Sound like someone you know? Or this one:

“I’m not worried about losing customers over price – my prices are just fine where they are.”

These viewpoints may appear completely opposite on the surface, one as pessimistic as Eeyore from Winnie-the-Pooh and the other confident to a fault, but they share something in common:

They’re both wrong.

If your goal is to optimize your business practices so that you can maximize your profits, undercharging and overcharging are equally disastrous. Armed with the right data, you can raise your prices in many instances and you should lower them in others.

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Maximizing Practice Cash as the Dental Industry Rebound Gains Momentum

The dental industry is experiencing a U-shaped recovery, with the average practice in many states already exceeding pre-shutdown levels of production and patient visits. Following 3 months of limited production, this rapid increase combined with the new hygiene and patient protocols, can put a strain on practice cash. 

Watch the webinar.

Please join us for the webinar hosted by Vincent Cardillo, President & CEO of Maeva Dental Advisors, in conversation with Rory Byrne, General Manager of Fintech at Sikka, as they provide insight into the latest rebound numbers for the dental industry and share best practices on how to maximize your practice’s cash efficiently.

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Podcast: Using Predictive Modeling to Forecast COVID Economic Recovery

Welcome back to the Sikka Software Podcast! Here at Sikka we are passionate about bringing you tools and solutions that benefit your patients and your practice.

Chairman and CEO, Vijay Sikka, joins Coruzant Technologies for the Digital Executive podcast. He shares how using predictive models can help forecast the economic recovery after the COVID-19 fallout.

This Podcast was originally published June 15, 2020. View the original Podcast here.

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