Analyzing the financial health of your dental practice is a good time to look beyond the obvious at the hidden costs that impact your profit margin. Here are some considerations that may be under the radar.
- Ongoing Maintenance
When your dental equipment isn’t working efficiently, neither is your team. Unreliable equipment that’s constantly breaking down or out of service cuts into the profit margin.
- Patient Perception
Growing your patient list is top of mind for increasing profits. But what about how patients (current or potential) feel when they visit your dental office? If your practice is dated compared to the one down the street with the brand-new office and state-of-the-art equipment, it’s hard to compete. A calm, modern environment communicates comfort and reassurance. Environment drives perception.
- Physical Discomfort
The most common injuries in dentistry (tendonitis, pinched nerves, ruptured discs in the neck and lower back, or carpal tunnel) develop slowly over time. If not addressed properly, they become debilitating and career ending. The only way to prevent injury is by selecting the right dental equipment and practicing ergonomic positioning. Equipment that places everything at the fingertips allows you to sit properly and work comfortably. This decreases stress and fatigue and increases overall productivity.
- Ownership Costs
Distinguishing between products to make confident purchase decisions is challenging. But have you followed the total cost of the equipment beyond the acquisition phase? The major component that separates superior quality from low quality is what A-dec coined the Cost of Ownership. Because these costs are not always quantified, they are often overlooked. The cost of ownership concept is truly about value—not only the value of the product, but also the value of a customer’s time and productivity:
- Product Lifespan
Another point to consider is the lifespan of your dental operatory equipment. Not all are equal. Known for reliability, A-dec equipment is designed to last. Our dental chairs are tested for a minimum 20-year life: others may only last 10-15 years. When you amortize the cost over the number of years of service, your ownership costs on high-quality products are lower in the long term.
Zero = Zero
Whether it’s physical discomfort and exhaustion or dental equipment that’s out of service while waiting for parts, it all means not having patients in the chair. And zero patients in the dental operatory generate zero dollars in revenue. If you would like to talk about ways to improve your financial health and uncover the hidden costs that are eating into your profits, contact your local A-dec dealer or call 1.800.547.1883 to discover your best solution.