Tuesday, November 4, 2008

Dental fees for profitability part 1

I often find an opportunity for dentists to painlessly increase their profit by $10,000 to $30,000 just by updating their fees. I'm not talking about an across the board fee increase that can drive cost-conscious patients away. (If you have room to increase your fees without driving too many patients away, what are you waiting for?) Rather, dentists often fail to keep fees for lower profile procedures updated to reflect market conditions. For example, a dentist may set fees for exams, prophy's, fillings and crowns near median levels while fees for root canals and periodontal procedures are below 25th percentile. I am repeatedly surprised how much money is left on the table by a handful of fees that are set too low.

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