Knowing When It’s Time to Raise Your Dental Fees

Money conceptIf you’re hesitant to raise the fees in your dental office, you’re not alone. If you and your patients are all happy with the prices, you may not want to risk losing your patients by increasing fees. However, this may actually have the opposite effect.

Rising prices is something that your patients will understand and expect. They know that, in order for you to provide the best in dental care and the most recent technology and equipment, you’ll need to increase prices eventually. Most people will be happy to spend a little extra on their dental procedures if it means you can continue to provide the best care.

Raising Dental Fees

Below are a few of the signs that may point to the need to increase your prices:

  • You’re unaware of other dentist’s prices – A little research into the prices of your competition can go a long way when setting your fees. To learn this information, contact your local Chamber of Commerce or check websites.
  • Your fees may be inconsistent – Some dentists may have inconsistent fees, meaning that the prices for some procedures are too high and the prices for other procedures are too low. This may cause your patients to feel frustrated or confused.
  • Your fees are the lowest – You may think that having the lowest prices is a good thing, but this isn’t always the case. You may draw in the price shopping patients who only visit for one-time procedures but won’t return for checkups or cleanings. Because price often represents value, having the lowest prices may not draw in many long-term patients
  • You can’t make ends meet – Lastly, the biggest indicator that you need to raise prices is the inability to make ends meet. Set financial goals and then make sure your fees are set to help you meet these goals.

If you provide excellent dental care and service to your patients, they will understand the value of your procedures and the price-tag that goes along with them. For help with establishing a fee schedule or making your dental practice run more smoothly, please contact CTC National today. We specialize in how to start dental practice, starting a new dental practice, dental consulting firms, etc.

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