5 Ways to Reduce Costs For Your Dentistry Business

There are so many costs associated with running a dentistry business. There are dental staff to pay, overheads to cover, and of course a huge amount of specialized equipment and tools to purchase. And with the rising costs of rent, energy bills, and taxes to think about, it’s understandable that many businesses are struggling to make ends meet.

Finding ways to reduce costs for your dentistry business is the best way to look after your profit margins and stay afloat. And fortunately, when it comes to dentistry, there are several areas for improvement. Here are five great cost-cutting tips to save your dental practice some money.

Optimize your scheduling

If you have more staff then you need in the office, or there is too much downtime, you can probably make your scheduling more efficient. You are most likely paying staff to be at work when they don’t need to be. Take a look at your appointment times and staff rotas and work out if you can streamline your process to avoid unnecessary overtime and crossover. Using a staff management software can make this quick and simple.

Buy equipment in bulk

As a dentist, you probably go through your equipment pretty quickly. But buying replacements in small increments is much less cost-effective than buying in bulk. Ordering a huge batch of carbide burs or drill bits will certainly cost more initially, but the bulk unit prices will save you a huge amount in the long run.

Look after your equipment

The better you maintain your equipment, the longer its lifespan will be. When tools are looked after, you’ll have them for more time before you need to spend money on replacements and repairs. Make sure all your dental equipment is cleaned immediately after use and stored away properly. Make sure all new staff are trained on how to use and look after tools, and inspect them for wear and tear regularly. 

Perform a marketing audit

Marketing is essential for promoting your business and acquiring new customers, but are you spending money effectively? Perhaps there are certain areas of your marketing where you are coming up short. For example, if you’re putting a lot of money into Facebook Ads but your customers are mostly coming from Google searches, then it’s time to do a rethink. Take a deep dive into exactly where your digital marketing budget is being spent, and plot this against the success rate of different channels in terms of awareness and customer acquisition. You can then work out where to spend less, and which areas to focus on.

Consider reviewing treatment fees

You don’t want to charge your customers more if you don’t have to, but sometimes rising costs necessitate a price increase. If the costs of materials and overheads are rising, the treatments will need to cost more. If you are raising prices, make sure to be upfront with your customers. Notify your regulars by email, and make sure you are transparent about prices before anyone begins treatment.

By following these tips, hopefully you can save your dental practice a significant sum of money!

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