As small business owners, dentists know that it’s good dental management to raise fees on a regular basis…if their market supports it.
“It makes sense to raise your fees by at least the local or regional cost of living increase (inflation %) to keep up with that. Around here it is currently about 3% per year.” Ohio prosthodontist
In this survey, we asked dentists how long its been since they raised their fees.
In some regions, the economy is rallying enough that dentists have been able to increase rates.
Within the past year, 27% of the dentists in our survey have raised their fees; and 13% have done so within the past 6 months.
“I am considering it as the economy looks more hopeful and because prices are going up all over…and I have to pay my own bills.” Texas dentist
However, 60% of our dentists have not increased fees within the past 2 years…or longer:
It’s been more than 3 years since 40% of our dentists raised their fees.
“Still pretty shy about raising fees as often as we used to, due to the weak economy and patients struggling fnancially.” Illinois dentist
And 20% of our responding doctors haven’t raised their fees in more than 5 years.
“Just can’t pull the trigger since the recession killed us.” New York dentist
“With the insurance companies basically setting the fees, raising fees too often only hurts the patients who do not have insurance.” Missouri dentist
How is your local economy doing? When was the last time you raised your dental fees?