Do It With Confidence: Raise Your Fees

by Dr. Ron Arndt

Fee increases should be a standard part of your dental practice management, but some dentists simply break into a cold sweat at the thought.  Below are the Do’s and Don’ts of raising the fees in your dental practice:

1)      DO be upfront: Explain your dental office’s pricing up front to all patients. Provide each patient with clear, written financial arrangements in a manner that makes it easy to understand and select the option that works best for them.

2)      DON’T just throw a number in the air: Avoid picking the price that sounds good. Like any good business owner, create a pricing strategy that includes all of your overhead, plus a salary for you, the Dental CEO.

3)      DO increase often: For example, in your business plan, write that you will impose a 5% fee increase each year – or every time you add to your skills by attending a C.E. course.

4)      DO ask yourself why: If a patient walks away because of the price increase, it’s not really because of the price increase. It’s because they do not perceive the value of your services.

Raise your fees, and let me know how it goes. I bet your response will be “Coach Ron, I wish I had done it sooner…”

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