Wednesday 14th October 2020
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At the start of the FY20 financial year, we had adapted our growth strategy to focus on improving the utilisation of existing practices and driving same practice revenue growth, productivity and margin growth.
Targeted initiatives and programmes have been undertaken, focused on driving patient visits, increasing revenue per clinical day and the number of clinical days worked and using our technology platforms to support this growth. Many of these are medium term projects and our objective is to grow same practice performance and profitability.
A major focus for the year was on further developing Abano’s digital offer, to attract patients and encourage bookings. Activity included new websites, optimised online booking platforms, new Maven brand positioning, utilisation of data to deliver segmented customer marketing and an expanded reach across multiple digital channels.
Many of these digital initiatives were introduced in Q3 FY20 to align with the launch of new websites for both brands. Encouraging results were evident before the COVID-19 lockdowns and, along with patient demand, these initiatives have assisted in the strong rebound in practice performance since re-opening.
We also restructured our support office early in FY20 and took the opportunity to review and optimise our networks, which resulted in the decision to close/divest 11 underperforming practices. While costs were incurred in FY20 in relation to this activity, we expect this to improve margin and profitability going forward. This work is ongoing, and we will continue to review our dental networks to improve efficiency.
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Source: Abano Healthcare Group Limited
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