#Open dental fee schedule full
Traditionally, we’ve been taught to do a thorough clinical examination followed by a comprehensive full mouth treatment plan for all new patients. What do your new patients want? Why have they come to your office? Ask them! Now is an opportune time to reconnect with your patients, talk about the upcoming year and remind them that their insurance benefits have been reset as of January 1.Ĭonsider your office strategy concerning new patients.
#Open dental fee schedule for free
A simple informational letter about changes in your practice or new procedures can be delivered for free via email or for a minimal cost using regular mail. Most however, spend virtually all of their marketing efforts on new patients and neglect the existing patient base.ĭoctors should communicate with their existing patients at least every six months. Marketing is increasingly important as doctors constantly look for ways to get new patients.
Studies show it is easier and more cost effective to increase business from existing patients than to create it. You should take this opportunity to examine your communications practices with existing patients. In addition to conservative fee increases this year, extending more liberal credit terms to patients may be necessary to help increase treatment acceptance and build goodwill with patients. It is important to remember that is is normally impossible to catch up for years of not incrementally increasing fees by simply submitting large fee increases in any one year.ĭoctors should consider their primary business goal to operate their office at optimal capacity while practicing the type of dentistry they want to do. If you stay in lock-step with Consumer Price Indexes (CPI), currently at one percent (1%), this doesn’t reflect specific increases in your expenses which are not tied to CPI and are most likely much higher than 1%. If that seems drastic note the majority of survey respondents generally report fee increases of up to five percent (5%). An increase of at least three percent (3%) each year is recommended. Many doctors’ waste time and energy adjusting individual procedure fees based on perception of patient and insurance company reactions. All fees for services should be increased at the same rate across the board. Our recommendation is selecting a dental fee schedule that accurately reflects the quality of care provided in your practice. Unfortunately, the new practice owner is handicapped when normalizing fees and faces patient reluctance in accepting increasing fees immediately after taking over the practice. This costs the practice revenue year after year (on a compounding basis), but further affects the purchaser of the practice seeking to bring dental fees in line with the local norms as quickly as possible. We look at practices for valuation and transition data and usually find dental fees far below the area norm. Henry Schein offers localized NDAS fee reports allowing a rational basis for reviewing and setting fees. When Setting Dental Practice Fees, Consider the Longevity of Your Practice Failing to increase dental practice fees annually only reinforces their heavily discounted fee schedules.
The problem is even more acute to practices participating in managed care programs since many of these plans require annual fee submissions. This phenomenon is primarily due to decreases in collections combined with the ever-increasing costs of business, regardless of the state of the country’s recession. Not only is this damaging the long-term future of your fee schedule (by missing the annual compounding of increases), the decision not to raise fees is an inherent resignation to a comparatively higher overhead and lower profits when looking at previous years. Unfortunately most dentists do not routinely review or increase their dental practice fees. Periodically reviewing and setting the right fees in your dental practice is paramount to a successful and profitable future. Top 10 Reasons Why You Need a Practice ValuationĪrticles Setting the Right Fees: Get Your Practice in Sync Henry Schein’s dental practice transition advisors help you sustain your practice.Dental Practices for Sale in Pennsylvania.
Dental Practices for Sale in North Carolina.Dental Practices for Sale in New Jersey.
Dental Practices for Sale in Connecticut.Dental Practices for Sale in California.Dental Practice Valuations & Appraisals.
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