So, you’re thinking about selling your dental practice? Before you slap a “Dental Practice for Sale” sign on your website and call it a day, let’s talk strategy. Selling a practice isn’t just about finding a buyer—it’s about getting top dollar. And spoiler: That doesn’t happen by accident.
Buyers don’t just want your shiny equipment or your loyal staff; they want a business that runs like a well-oiled machine. We’re talking about:
- A marketing engine that attracts new patients.
- A retention engine that keeps them coming back.
- A revenue-expansion engine that boosts their lifetime value.
And the secret sauce to building these engines? Patient membership plans, powered by tools like BoomCloud™. Let’s dive into how you can increase the value of your practice, plus a juicy case study to show how it’s done.
The Three Engines That Drive Practice Value
Before you put your dental practice for sales, let’s dig into how to make it more valuable. Buyers love numbers—predictable revenue, high patient retention, and consistent growth. Here’s how to build the engines that deliver those results.
1. The Marketing Engine
First things first: You need a steady flow of new patients. A marketing engine ensures your practice stays top of mind for people searching for dental care.
How to Build a Marketing Engine
- SEO (Search Engine Optimization):
- Get your website to rank for searches like “best dentist near me” or “affordable dental care in [Your City].”
- Use local keywords and create blog content like “Top Tips for Dental Hygiene.”
- PPC Ads (Pay-Per-Click):
- Run targeted Google Ads for phrases like “emergency dentist” or “family dental care.”
- Promote your membership plan to uninsured patients.
- Social Media:
- Share testimonials, post photos of your team, and highlight patient success stories.
2. The Retention Engine
Getting patients in the door is great—but keeping them loyal is even better. A retention engine turns one-time visitors into lifelong fans.
How to Build a Retention Engine
- Membership Plans:
- Patients on a membership plan are more likely to stick with your practice. They’re not tied to insurance; they’re tied to you.
- Communication Tools:
- Use platforms like Weave™ to send appointment reminders, follow-ups, and personalized messages.
- Exceptional Experiences:
- Make every visit smooth and memorable with friendly staff, short wait times, and a comfortable environment.
3. The Revenue-Expansion Engine
The secret to higher profitability? Increasing the average revenue per patient. A revenue-expansion engine ensures every visit brings in more value.
How to Build a Revenue-Expansion Engine
- Upsell Treatments:
- Offer whitening, veneers, or fluoride treatments during routine visits.
- Membership Perks:
- Include discounts on crowns, implants, or orthodontics to encourage patients to opt for higher-value services.
- Data-Driven Decisions:
- Use tools like BoomCloud™ to track patient spending and identify opportunities for growth.
Case Study: How Bright Smiles Dental Increased Value Before Selling
Now, let’s look at how Bright Smiles Dental, a mid-sized practice in Salt Lake City, used these engines to skyrocket their value before selling.
The Problem
Bright Smiles had solid patient volume but struggled with:
- Unpredictable revenue.
- Low patient retention.
- Minimal spending on elective treatments like whitening or veneers.
The Solution: A Membership Plan with BoomCloud™
They launched a $40/month membership plan offering:
- Two free cleanings per year.
- 15% off restorative and cosmetic treatments.
- Priority scheduling and exclusive discounts on Invisalign.
The Results (Prepare to Be Inspired)
1. Monthly Recurring Revenue (MRR): $24,000
With 600 active members, Bright Smiles secured $24,000/month in predictable income.
2. Annual Recurring Revenue (ARR): $288,000
That’s nearly $300,000/year in guaranteed revenue—before counting patient spend on additional treatments.
3. Patient Spend: $1,100/Year
Membership patients spent an average of $1,100/year on add-ons like whitening, sealants, and cosmetic treatments—40% more than non-members.
4. Active Members: 600+
Memberships attracted uninsured patients and re-engaged inactive ones, boosting loyalty and reducing churn.
5. Practice Sale Value: +35% Increase
The predictable revenue and high patient retention added significant value, leading to a 35% higher sale price.
What Made the Difference?
- BoomCloud™ Automation: Billing, renewals, and tracking were a breeze, leaving more time for patient care.
- Retention Tools: Personalized campaigns (via BoomCloud™ and Weave™) kept members engaged.
- Upselling Opportunities: Discounts on high-margin services encouraged patients to spend more.
How BoomCloud™ Powers Your Practice Transformation
If you’re serious about increasing the value of your dental practice, BoomCloud™ is the ultimate tool. It turns membership plans into a predictable, scalable revenue stream buyers love.
Why BoomCloud™ Is Essential for Sellers
1. Automates Membership Plans
BoomCloud™ handles everything—billing, renewals, and tracking—so you can focus on growing your practice.
2. Tracks Revenue Metrics
Get real-time insights into your MRR, ARR, and member spending, making it easy to showcase your practice’s value to buyers.
3. Engages Uninsured Patients
BoomCloud™ helps you create membership plans that attract uninsured patients, turning them into loyal, high-value customers.
4. Provides Marketing Support
Not a marketing whiz? No problem. BoomCloud™ offers templates, email campaigns, and social media graphics to promote your plan.
5. Boosts Revenue Per Patient
Membership perks like discounts and exclusive access encourage patients to spend more during every visit.
FAQs About Boosting Dental Practice Value
How do membership plans increase practice value?
Membership plans create predictable income (MRR/ARR), improve patient retention, and boost revenue per patient—all key factors buyers look for.
Can BoomCloud™ integrate with my current systems?
Yes! BoomCloud™ works seamlessly with most practice management software for easy implementation.
What’s the ROI on a membership plan?
Practices using BoomCloud™ often see a 10x ROI, thanks to increased recurring revenue, patient loyalty, and referrals.
How do I promote a membership plan?
BoomCloud™ provides the basics, from email templates to in-office signage and social media content. We recommend you work with a dental marketing company to help scale your membership plan.
Dental Practice for Sale: Build Before You Sell
Listing your dental practice for sale is one thing—selling it for top dollar is another. By creating a marketing engine, a retention engine, and a revenue-expansion engine, you can turn your practice into a buyer’s dream.
With tools like BoomCloud™, you can build predictable revenue, attract and retain loyal patients, and boost your practice’s value faster than you can say “membership plan.” So, what are you waiting for? Start building your engines, grow your MRR and ARR, and sell your practice like a boss. Because when it comes to selling, you don’t just want offers—you want the best offers.
