HOW TO REDUCE EXPENSES IN YOUR PRACTICE?
Dentists have one of the highest supply expenses among all industries. These include – rent, dental lab fees, dental supplies and dental equipment and so on.
THE ROOT PROBLEM
The biggest expenses lie in dental supplies, also not knowing how to manage your supplies in an efficient way leads to huge surge in overhead. Here’s one example of how the money drains daily with disposable dental supplies: Singles use safety glasses cost about $1, you’re right, $1 is no that much but if you see about four patients a day that leads to $4 a day, and if you have a large dental practice, expenses for these may rise up to $100 in a day. That’s a lot.
When you combine the daily costs of dental gloves, suction tips, patient aprons… These add up. Many dollars per patient, tens of dollars a day times the amount of operatories times the work days in a fiscal year.
In dentistry overhead is claimed to be around 7%. It sounds fair, but if you put a little bit of planning and management skill into that you will be able to cut your expenses up to 3%.
Only imagine, you’re able to reduce your expenses for almost 50%, we will tell you how to do that in 3 smart steps.
I.PLAN YOUR EXPENSES
How to do that? The very first thing you’d want to do is check with your dental supply expenses for past 6-12 months – this will help you to have an overall picture for your budget. After you’ve done it, you can set a budget you’re comfortable with, if your last year expenses were about 7-8% go ahead and aim for 6-5%.
II. GET YOUR DENTAL MATERIALS AND DENTAL SUPPLY ITEMS RIGHT FROM THE MANUFACTURER!
Dentists usually purchase overpriced products from dealers and other places, sometimes they charge 10x or even 20x higher than manufacturing cost!
Yes, it’s easier currently to buy from the dealer but does it justify the costs?
By purchasing from manufacturer you’d be able to cut your expenses for your laboratory supplies and other dental instruments which will help you to cut your overhead % and consequently save some money
CONTROL YOUR APPETITE – PURCHASE DENTAL SUPPLIES nNECESSARY FOR THE MONTH
Remember that monthly budgets are way easier to control. It’s never a good idea to have tons of surplus stuff laying around on your shelves. Be careful when purchasing items that you do not use that often.
Control the quantities!
We do not have overhead ourselves here in medielf either…
You and medielf will enter in a mutually beneficial relationship. We are doing our best to serve dentists and make sure that you are treated fairly.
Medielf (www.medielf.com) has a wide variety of products that you can buy directly from manufacturers. This is the most cost efficient way to distribute the goods. Also we are here for the long term. In the future we are positive to have the biggest catalog of dental products.