In today’s world, dental overhead, the cost of doing the business of dentistry for a typical dental practice, is about 75%, meaning the net income is a small 25%. A newer dentist is usually carrying more debt, so it has a higher overhead. Most people, including the employees of dentists, are not aware that the net return is that low. Dentists do all that they can to keep from raising their standard fees and accept the paltry payouts from PPO networks that get smaller and with more restrictions all the time.
Costs to operate the average dental practice get larger over time and the dentist and management are challenged to control costs and become more creative with ways to save while still offering the best standard of dental care to their patients.
Dentists want their patients to be able to afford quality dental care but for this to happen the dentist must be able to afford to purchase the equipment, supplies and the people necessary to get the work done. There must be a budget in place to achieve success.
Everybody needs to stay on a budget, and that includes dentists. The benchmark dental budget has rent at 5%, equipment at 5%, ongoing marketing at 3% to 10%, lab expenses at 10%, dental supplies at 5%, miscellaneous at 10% and cost for team salaries at 20-25% (including benefits).
The most significant expense is employee salaries and benefits. Many dentists are not good at asking for more from their workers, especially in times of low net income. It is vital that the dental team take the initiative to promote services and to give outstanding customer service along with their daily job duties.
For the dentist(s) to offer quality care at an affordable price to patients, the dentist must invest in the newer technologies and techniques that provide the patient a level of precision that was not possible in the past. Patients want what they are reading, seeing and hearing about the latest, more advanced and pain-free dentistry that is brief and affordable.
Technology such as dental cone beam imaging translates to fewer complications, less invasive treatment, and a faster healing time for the patient. Preplanning implants with digital imaging and 3- D milling leads to accuracy and a superior result for the patient. These benefits increase treatment acceptance due to better available care.
"Every dollar counts when it comes to managing a dental business"
~ Dr. Kenneth Osamor
Dr. Osamor has practiced dentistry for more than fifteen years and knows that you must do more than provide quality dentistry; you must help patients pay for their care. Patients can save anywhere from 10% to 60% using dental discount plans such as Careington Dental Plans offered by dentists such as Dr. Osamor. The dental practice of today must be able to provide the best care and to help the patient achieve the best care. Dr. Osamor believes that the patient is a partner in the treatment planning and is able to make an informed decision only after the doctor has taken the time to explain treatment recommendations in the language that they understand...
According to Dr. Osamor, the seven keys to keeping dental care affordable are the following:
10/6/2021 04:30:22 pm
Dental care isn’t cheap, but it can be more affordable than you realize. A simple way to find affordable dental care is to go to a clinic associated with a dental school.
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The dental practice of today must be able to provide the best care and to help the patient achieve the best care, Thank you for taking the time to write a great post!
2/17/2022 12:24:26 pm
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2/21/2023 09:26:38 pm
I really appreciate you taking the time to write such a great post! It is clear that dental practices today need to be able to provide their patients with the best possible care, and I think your tips will definitely help them go into providing great dental care.
3/6/2023 05:48:00 am
In their second blog entry, Texas Dental Group offers seven suggestions for reducing the cost of dental treatment. Dental savings plans, community health centres, and preventive care are just a few of the choices discussed in the post. People searching for ways to cut costs on dental care may find this post useful.
4/11/2023 08:08:05 am
Great analysis, I love how you really went in-depth with everything it really projects what one needs to know about how to keep dental care affordable according to a successful dentist. You have done an excellent job with this content I must say.
4/20/2023 08:36:12 am
The tips provided by Dr. Osamor on keeping dental care affordable are practical and informative. By negotiating equipment and supplies, offering multiple services, and outsourcing tasks like billing and hiring, dentists can keep their overhead low and focus on providing the best possible care to their patients. Creating a caring and professional team that puts patients first is also essential for success. Overall, these tips can help dental practices provide quality care while remaining financially sustainable.
Overall, this blog post is a gem for anyone seeking to maintain dental care on a budget. The dentist's practical advice, rooted in their professional experience, offers a roadmap to affordable dental care. Thank you for sharing these valuable insights, and I look forward to more informative and empowering content in the future.
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