LRyan Moynihan shares insights on key data from 2024, highlighting growth trends in orthodontics.
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Summary
In this conversation, Ryan Moynihan discusses his journey in the orthodontic industry, the state of the market in 2024, key data points, and trends affecting orthodontics. He emphasizes the importance of patient management and the impact of digital innovations on treatment options. The discussion also touches on the need for orthodontists to adapt their strategies in response to changing market conditions and patient behaviors. In this conversation, Jill and Ryan discuss the importance of marketing metrics and profitability in the orthodontic industry. They explore the significance of understanding patient funnels, the surprises in industry growth, and the potential for revenue through retainer programs. Looking ahead to 2025, they emphasize the need for practices to focus on data analytics and partnerships to maximize growth opportunities. The discussion concludes with insights on leveraging external expertise to streamline operations and enhance profitability.
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Takeaways
* 2024 showed positive production growth in orthodontics.
* Adult exams are finally seeing growth after a decline.
* Digital innovations are influencing treatment options.
* Patient management is crucial for conversion rates.
* Orthodontists need to be mindful of their pricing strategies.
* The economy is expected to improve in 2025 and 2026.
* Observation patients should be actively managed.
* Understanding patient funnels can enhance practice efficiency. We absolutely have to be paying attention to marketing.
* Understanding metrics is essential for business owners.
* Surprises in the orthodontic industry include growth rates and patient trends.
* Leveraging external companies can enhance practice efficiency
Chapters
00:00 Introduction - Ryan Moynihan
06:05 Key Data Points and Trends from 2024
11:51 Patient Management and Conversion Strategies for 2025
22:26 Marketing Metrics and Profitability
27:38 Looking Ahead
34:01 Leveraging Partnerships for Growth
Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- www.practiceresults.com.
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Episode Credits:
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Garrett Lucero