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  Sally McKenzie,CMC
             President
 McKenzie Management, Inc.

Sally McKenzie's
Weekly Management e-Motivator

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June 3, 2002

 

WEB: http://www.mckenziemgmt.com

For a FREE a Analysis of Your Practice by Sally McKenzie...click here

This issue is sponsored in part by:

McKenzie Management - A full service, in-office dental management
consulting company specializing in the business, clinical,and hygiene areas of practices
nationwide.You can find McKenzie Management at http://www.mckenziemgmt.com

CareCredit - More than 30,000 healthcare practices nationwide use CareCredit as an
alternative means of helping their patients finance treatment. You can find CareCredit at
http://www.carecredit.com

Dental Town: -Never practice solo again! DentalTown.com is a free community,
 hosting dentistry's MOST ACTIVE message boards, classified ads and a dental event calendar.
The site is open to dental professionals throughout the world, 24-hours a day, 7 days a week.
Once you visit, you'll wonder how you ever practiced without it!
Log onto http://www.dentaltown.com TODAY!

LaresResearch - Make Your Practice Profitability Soar! SoftCare™ boosts your hygiene
department profitability to a new level. Treatment of periodontal disease with the
Lares' PocketPro Lasers™ is easy to learn and offers a quick and dramatic return 
on your investment.   Lares lasers will also make your dentistry faster and easier,
visit us at http://www.laresdental.com/products/lsc/default.asp
or call 800-347-3289,ext. 1 and schedule an educational presentation.

HPSC - Finances, via lease or loan, dental and office equipment, leasehold improvements,
working capital and supply contracts at fixed competitive rates, with no points,
variables or hidden fees. HPSC also offers a variety of financing programs to dental
professionals seeking to set up, expand, buy into, or acquire a practice. http://www.hpsc.com/

INFORMS - Allow InForms to participate in your successful practice by becoming the
"ONE STOP SOURCE" for your front office needs. We carry a full range of products
including: recall and appointment cards, registration forms, exam forms, statements
and envelopes, folders and labels. Call us at 1-800-722-4884 or email us at
informs@bellsouth.net today to receive your catalog.

 

 

Sally McKenzie’s Weekly Management e-Motivator---Issue #14

The Fee Factor

You know you need to do it. You have been agonizing over this for weeks - no, months. Others have done it, so why is this so scary? What if they're upset? What if they confront you? What if …? What if…? You would think you were about to engage in some sort of felonious act sure to get you life in the state pen, when actually all you're doing is considering a fee increase.

We know the process of raising fees is fraught with anxiety for many dentists. Patients fully expect to pay for quality dentistry and being among the cheapest dentists in town is not a professional goal you want to achieve. Nonetheless, the process is unnecessarily distressing for many. Do a little homework, muster a little courage, and establish a fee structure that is affordable for patients and fiscally sound for your practice.

  • Establish a standard fee schedule for each service. 
  • Evaluate the time required for each procedure, fixed expenses necessary to run the office, variable expenses such as supplies and lab fees, and income required per hour to compensate you. 
  • Determine how many days per week you will see patients and how many hours you will spend on treatment. If your annual production goal is $650,000, you work 48 weeks per year, 36 hours per week, your hourly production goal is $376.
  • At a minimum, change your schedule to overlap patients during the first 10 minutes and last 10 minutes of each appointment. This will increase income even before fees are adjusted.
  • Study dental fees in your area to determine if yours are in line.
  • Consider the quality of dentistry provided and the quality of the entire dental experience.

Remember, you have established a personal relationship with most of your patients. They come to you because they respect the quality of dentistry you provide. Increased fees will be noticed, but they will not cause a mass exodus to the dentist down the street.

 

Sally's Recommended Actions:

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