TWD Dental Marketing Survey Reports Dentist Opinions About Raising Fees

Dental marketing blog TheWealthyDentist.com (TWD) conducted a survey recently that asked doctors when they last raised their fees.  Over 50% of the doctors who responded had increased their fees within the past year.

While the majority of dentists who participate in the dental marketing survey had raised their fees within the past year, and slightly more than ninety percent reported having raised fees within the past 3 years, many dentists commented that they were hesitant to do so.  One Texas dentist stated that the local economy surrounding his practice understandably played a large role in setting fees.  Since his practice was located in an area with ongoing high unemployment and where residents had no insurance coverage, he was discounting fees more than ever before.

Several dentists reported on the difficulty of raising fees when insurance companies and managed care companies were involved.  Many dentists commented on the need to review fees on an annual basis, even if the resulting decision was to keep fees the same.

“While annual fee increases are an important part of dental management, lots of dentists overlook raising dental fees – sometimes for years! If your practice hasn’t raised its fees in the past 6-12 months, then you’re not as profitable as you could be,” said Jim Du Molin, TWD Editor in Chief and founder of Internet Dental Alliance, Inc. (IDA).  “A successful dental practice absolutely must raise fees regularly.”

Unfortunately, many dentists don’t track increases, don’t have a regular review policy, and are unsure about how to successfully raise fees without driving new and existing dental patients away. The Wealthy Dentist blog provides dental practice management resources and offers a video tutorial that addresses how to price services in relation to the competition, how to successfully institute dental fee increases, and how to train the front desk team to handle the situation.

“In order to continue to provide quality dental treatment, you have to retain a skilled team, maintain your facilities, continue to educate yourself on new methods and materials,” adds Du Molin.  “These all need to be paid for in the budget.  And when you factor inflation, you must raise fees to stay profitable!”

About TheWealthyDentist.com

Jim Du Molin, Editor in Chief of TheWealthyDentist.com, has been helping dentists improve theirdental management, marketing and profits since 1985.  He helps dentists improve their business skills and manage their practices more effectively.  As founder of sister company Internet Dental Alliance, Inc. (IDA), Jim helps dentists attract more new patients that fit with their clinical skills to maximize cash flow.  IDA is North America’s largest provider of websites for dentists and online dental marketing plans.  Its New Patient Marketing Machine™ packages include dental directory listings, and customizable dental websites.

About Jim Du Molin

+Jim Du Molin is a leading Internet marketing expert for dentists in North America. He has helped hundreds of doctors make more money in their practices using his proven Internet marketing techniques.

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