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Gaining An Advantage Through Insights.. Is your fee schedule working for you?

Each year, the cost of operating your dental practice increases. Supply costs, lab costs, staff costs, rent, utilities, insurance, as well as every other cost of running your business, increases. There are only two possible ways for you to make up this difference: work more to increase your income or raise fees on the services you provide.

At the beginning of each New Year, we have suggested that you look at your fee schedules and continuously, incrementally raise your fees to reflect said increases. Read more about this in our article archive.

This year, in addition to the localized fee surveys that we have previously offered, and as a result of our new partnership with the team from Henry Schein, we are excited to say that we can now provide you access to a powerful individually customized Practice Analysis report for your practice.

The Henry Schein Practice Analysis has been created with one goal in mind – to provide dental practice owners with practical information, relevant insights, and experiential learning that will enhance their business.

The reality is, establishing a fee schedule requires thoughtful consideration. It’s an integral, yet, personal part of every practice (to both the practitioner and the patients). It’s also the core of the business and should not be taken lightly. Each practice is unique because ultimately it is a reflection of the vision and values of each practice owner. Your fees are also a reflection of the fair economic exchange that must exist between you and your staff, you and your patients, and not least of all, you and your practice.

Your customized analysis is prepared from a production by code report, as well as your current fee schedule. It will allow you to understand the effect of balancing your practice fees and quantify the income potential of fee adjustments. The information contained in the analysis will prove useful in helping you to analyze, develop, and update your fees. It will further allow you to understand the potential impact of technology upgrades such as digital radiography, CAD/CAM or any other upgrade.

The Practice Analysis tells you where you are now and where you could be. We see the Practice Analysis as an extremely powerful tool and a product we are excited to be able to offer to you as an added benefit to our new affiliation. For more information on the Henry Schein Practice Analysis, please contact us or your local Field Sales Consultant and be sure to let them know about this article. Your practice, business, retirement and wallet will thank you.

 

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Henry Schein makes no guarantees as to the accuracy or prediction of success with the implementation of these suggested business and fee strategies; nor can your Field Sales Consultant, any member of Henry Schein Dental and Henry Schein, Inc., accept any responsibility or liability for the outcome of your potential initiation of these business strategies.

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