Cost effective practice as the UK feels the squeeze
Promotional FeaturesPosted by: Dental Design 24th August 2022
No one can ignore the fact we’re facing a challenging economic landscape, with soaring inflation and rising prices for food, fuel and energy. The turbulence is set to continue for some time, and the impact will affect all of us in some way.
The cost of running a business is going to get higher. The recent 1.25% increase in national insurance contributions will be have to be paid by employers as well as employees and self-employed workers. In the dental practice, that will be on top of paying more for utilities and other things to possibly include building rent and insurance, lab and associate fees.
What about your patients? Should we be worried about treatment plans left incomplete, and routine consultations cancelled? Perhaps, although the cost of dentistry has long been an issue. In a report that is now four years old, a third of Brits gave the reason why they don’t go to the dentist as “it’s too expensive”.[i] If you have seen a drop-off in new patient numbers or retention, competition from another practice that is doing things cheaper may be behind this, as just like every savvy consumer, there will be people shopping around for the best price. Of course, the dental press has also been full of stories about how the pandemic stimulated demand for profitable cosmetic dentistry, as well as preventive-maintenance treatments, because of people’s increased understanding of the importance of oral health for general health and wellbeing. So, you may be busier than ever, with good footfall and full schedules.
But whatever scenario you identify with – you’d like to boost patient numbers/the team is run off its feet/you’re somewhere in the middle – every practice can operate more cost effectively. Reducing overheads also means eliminating waste – not just becoming more energy efficient, also looking at things like skill-mix, and how to avoid having cupboards overflowing with unused stock.
A profitable practice is a productive practice. So, make sure the team is being used effectively. Widening the remit of the dental hygienist or therapist, for example, allows dentists to focus on other treatments, like in-demand cosmetic/restorative applications. Failing to adapt to trends in your area will mean that it will be the other local practice who gets the referrals. Thorough research and careful preparation will enable you to identify what patients want; what they say they want and what they actually go for, once they have been given their options. Scrutinise your treatment plans, note which get accepted and completed and also review enquires, with the help of your front desk team or practice manager. Are people asking for something that you don’t offer? Are you pushing something that is costly to deliver, so unprofitable, and there is little interest to justify it anyway? Do you need to improve communication so patients and would-be patients know what you do? A patient-focussed service, with a high level of care for every part of their journey, can also reduce no-shows and cancellations.
Your stock is another way to reduce unnecessary costs, as well as waste. Reviewing your equipment and consumables, to ensure they’re hard working and good value, does not have to be a labour-intensive exercise as there are suppliers out of there who can do it for you, and help you to buy in just what you need. These suppliers will save you money as well as time, with quality products that will upgrade your results, make appointments more efficient and, by implication, lead to happy, satisfied patients.
COLTENE is a dental specialist that manufactures tools and consumables for a range of treatment areas. In its restorative range are two superheroes that are great on their own, but can face any challenge when used together. For maximum bonding strength, SoloCem universal dental cement works with ONE COAT 7 UNIVERSAL bonding agent for reliable adhesion. This duo of products – known as SUPERKRAFT – also offers easier handling, more time with your patient and less stock for you to order in. No matter how much strength it required, SUPERKRAFT will handle it, for a range of indications in every practice.
Even if you are broadly proud of the quality of dentistry you are offering, small changes can take your service to another level, and reduce your costs. If your overheads have increased, raising fees isn’t the only solution. Also remember that price, although important, isn’t the only factor patients use when choosing if and where to go for dental treatment. Offer added value at every appointment – more time to talk, less time in the chair, more comfort and an enduring result that the patient knows how to keep beautifully maintained. When you focus your services, fully utilise the talents of your team and buy only the highest quality stock you need, you support your chances of remaining a busy, happy and profitable practice, despite the economic squeeze.
For more on COLTENE, visit www.coltene.com, email: info.uk@coltene.com or call 0800 254 5115.
Author: Nicolas Coomber COLTENE National Account & Marketing Manager
[i] Third of Britons don’t to go the dentist because it’s too expensive. Independent, 12 July 2022. Link: https://www.independent.co.uk/money/spend-save/third-britons-dont-go-dentist-cost-insurance-health-cash-plan-nhs-a9001521.html (accessed April 2022)
