What to consider before purchasing dental equipment
Featured Products Promotional FeaturesPosted by: Dental Design 9th May 2021
It goes without saying that the equipment in your dental practice plays a vital role in helping you deliver the outstanding treatment that patients have come to expect. Yet the process of purchasing and installing dental equipment can be a minefield. Furthermore, with a stream of cutting-edge tools hitting the market every year, it can be difficult to determine which solutions are worthwhile investments. To ensure you make the best purchase decision for you and your team, there are some key factors to consider.
Finance
You will need to determine how to fund the purchase of your equipment. There are a number of finance options available with their own pros and cons, so it’s important to assess which would be the most suitable for you. For instance, new equipment can be acquired through a lease, which is often an effective means of managing one’s cashflow, as there is typically no large initial outlay or deposit to pay.
Hire purchase plans can offer taxation benefits, whilst enabling you to own the equipment outright once all scheduled payments have been made. You can also purchase equipment with a loan via a bank or an alternative lender. However, it is important to consider the loan APR (Annual Percentage Rate), repayment schedule, penalties for early/late repayments, and any additional fees to ensure you secure the best possible loan.
Budget
Under the pressure and excitement of purchasing equipment, it can be all too easy to overspend. That’s why it is crucial that you set a budget, especially if you are looking to upgrade all of your practice equipment – after all, you don’t want your funds to dry out half way through the buying process. Once you have established your budget, you should ensure that the equipment you desire fits within that budget in order to avoid making purchases that you might regret later down the line. It may be unavoidable to exceed your budget, in which case it will be up to you to decide how much you are willing to overspend on acquiring new equipment.
Return on investment
The long-term return on investment can outweigh the initial cost of purchasing dental equipment, so long as you consider what you want out of the technology. Are you seeking to increase the competitive edge of your practice? Do you wish to improve the efficiency of your workflow and, therefore, enhance patient care? Perhaps you are considering new staff to your practice team, or boost your treatment capabilities in order to offer a wider range of services. By considering your motivations for buying new equipment, you can ensure you see positive returns on your investment faster and to a greater degree than planned, thereby enabling you to optimise practice profitability.
Research
With such a diverse and innumerable range of solutions available, the importance of doing your research before committing to any purchase of equipment cannot be underestimated. Prior to the COVID-19 pandemic, conferences and tradeshow exhibitions were beneficial as a means to try before you buy. Although such opportunities are currently limited at dental events, some suppliers and manufacturers may be allowing visits to their showrooms, providing you the chance to get hands-on with the latest and greatest dental technology.
Beyond this, it can be useful to read product reviews online and speak to your peers and colleagues to find out what solutions they recommend. If there is a particular brand of equipment that you are interested in, it’s important to thoroughly research the brand to ensure their product claims are fully supported. Moreover, you can find out how steep the learning curve is for the equipment you are seeking, as you and your team will need to be appropriately trained in order to utilise the technology to its fullest potential.
Supplier
Who you choose to source your equipment from is just as crucial as the equipment itself. Not only do you want to be confident that you are receiving the best deal from your chosen supplier, but that they will also support you beyond the point of sale. Ideally, you should work with a dental equipment supplier that offers an exceptional range of products, user training and aftersales services in terms of maintenance, repairs and resolving technical issues. Clark Dental, for instance, is renowned within the dental sector for its commitment to delivering an unparalleled client service.
Having the right tools at your disposal is essential for performing your best work. Although purchasing dental equipment is rarely ever an easy and quick decision, it doesn’t have to be complicated so long as you take the time to plan it. Ultimately, making a well-considered and strategic investment in equipment can benefit you, your dental team and your patients significantly in the long-term.
For more information call Clark Dental on 01268 733 146, email info@clarkdental.co.uk or visit www.clarkdental.co.uk
