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Is It Time to Adjust Your Fees?

By Sally McKenzie CEO

Most dentists don’t like to think about adjusting their fees. If they set them too high they risk sending patients to the practice down the street, but if they keep them too low they’ll never achieve their financial goals. It’s a tricky balancing act, which is why many dentists opt to keep their fees right where they are.

Sorry, but you can’t avoid adjusting your fees forever. I know the thought of changing your pricing can be a bit intimidating, but don’t worry, I’m here to help. Here’s what you should ask yourself before you raise or lower your fees, ensuring you set the best prices for both your patients and your practice.

1. Are your fees the lowest or highest in your area? These are both scenarios you want to avoid. While boasting the lowest fees in your area might attract more patients to your practice, trust me, they may not be the type of patients you really want. If your practice is known as the lowest fees around, you’ll see a lot of price shoppers who are looking for the next best deal, not a place they can call their dental home.

On the other hand, charging the highest fees in your area might be a deterrent to patients who know they can spend less at another practice – unless you can back the extra cost up with exceptional customer service and an experience patients can’t find anywhere else in your community. If that’s not the case, you might want to think about lowering your fees so they’re more in-line with your competition.

2. Do you know what other dentists in your area charge? If you set your fees before researching what other dentists in your community charge, now is the time to do your research and find out how your fees compare. If they’re either significantly higher or lower, you might want to consider...

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