When you analyze the financial health of your practice, don’t forget to look into those hidden costs that impact your profit margin. Here are some considerations that may be under the radar.
1. Ongoing Maintenance
When your equipment isn’t working efficiently, neither is your team. Unreliable equipment that’s constantly breaking down or out of service not only cuts into the profit margin, but it frustrates doctors and dental teams.
2. Patient Perception
Growing your patient list is top of mind for increasing profits. But what about how patients (current or potential) feel when they visit your facility? If your practice is dated compared to the one down the street with the brand-new office and state-of-the-art equipment, it’s hard to compete. A calm, modern environment communicates a level of comfort and reassurance that your dentists are also high caliber. Environment drives perception.
3. Physical Discomfort
Ergonomics is a tough concept to grasp since it’s not a tangible concept. Yet the cost of a physical disability that originates from the dental occupation is quite real in terms of worker’s comp and downtime. The most common injuries in dentistry (tendonitis, pinched nerves, ruptured discs in the neck and lower back, or carpal tunnel) develop slowly over time, and if not addressed properly, become debilitating and career ending. The only way to prevent injury is by selecting the right equipment and practicing ergonomic positioning as much as possible. Equipment that places everything at the fingertips allows doctors to sit properly and work comfortably decreasing stress and fatigue, and increasing overall productivity.
4. Ownership Costs
Distinguishing between products to make confident purchase decisions in the first place is challenging. But have you followed the total cost of the equipment beyond the acquisition phase? The major component that separates superior quality from low quality is what A-dec coined the Total Cost of Ownership. Because these costs are not always quantified, they are often overlooked. The cost of ownership concept is truly about value—not only the value of the product, but also the value of a customer’s time and productivity:
5. Product Lifespan
Another point to consider is the lifespan of your equipment. Not all are equal. Known for reliability, A-dec equipment is designed to last. Our chairs are tested for a minimum 20-year life: others may only last 10-15. When you amortize the cost over the number of years of service, your ownership costs on high-quality products are lower in the long term.
Zero = Zero
Whether it’s physical discomfort and exhaustion that have affected the dentist, or equipment that’s out of service while waiting for parts, it all means not having patients in the chair. And zero patients in the treatment room generate zero dollars in revenue. If you would like to talk about ways to uncover the hidden costs that are eating into your profits, visit a-dec.com or call 1.800.547.1883 to discover your best solution.