Comments on: Dental Marketing Tops Dentists’ List of New Year’s Resolutions http://www.thewealthydentist.com/blog/189/dental-marketing-tops-dentists-list-of-new-years-resolutions/ Jim Du Molin offers dental marketing news and dental practice management advice for dentists. Thu, 4 Dec 2008 03:22:14 +0000 http://wordpress.org/?v=2.6.5 By: William Hiltz http://www.thewealthydentist.com/blog/189/dental-marketing-tops-dentists-list-of-new-years-resolutions/#comment-117 William Hiltz Fri, 07 Dec 2007 15:55:46 +0000 http://www.thewealthydentist.com/blog/?p=189#comment-117 It is interesting that the top 2 responses to your survey have both sides of the profit equation. (revenue – expense = profit) #1: new patients = more revenue #2: cut costs = less expense Ergo: the top resolution for dentists is, “I want to earn more money” . This makes them no different than anyone else. The problem with cutting costs (as I see it) is that some dentists focus on this item in a dysfunctional manner. (e.g.: trying to cut dental supply costs one percentage point - say from 8% to 7% - if you do the after-tax math, you will see it is not worth the time spent) Increasing costs is acceptable when the costs are overrun by an increase in revenue. (e.g.: marketing to get more patients) Increased costs are acceptable when they reduce the likelihood of a future liabilities. (disaster planning and recovery, fidelity insurance and fraud prevention) ------------------------------------------------------------ William Hiltz BSc MBA CET prosperident - Advisors to the Dental Profession www.prosperident.com It is interesting that the top 2 responses to your survey have both sides of the profit equation. (revenue – expense = profit)

#1: new patients = more revenue
#2: cut costs = less expense

Ergo: the top resolution for dentists is, “I want to earn more money” . This makes them no different than anyone else.

The problem with cutting costs (as I see it) is that some dentists focus on this item in a dysfunctional manner. (e.g.: trying to cut dental supply costs one percentage point - say from 8% to 7% - if you do the after-tax math, you will see it is not worth the time spent)

Increasing costs is acceptable when the costs are overrun by an increase in revenue. (e.g.: marketing to get more patients)

Increased costs are acceptable when they reduce the likelihood of a future liabilities. (disaster planning and recovery, fidelity insurance and fraud prevention)
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William Hiltz BSc MBA CET
prosperident - Advisors to the Dental Profession
http://www.prosperident.com

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