What prices should dentists charge?

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I often speak to dentists who want to raise their pay-as-you-go prices for patients.

If this includes you, here’s the process I recommend to ensure you set them at the right level…

First of all, ask yourself when was the last time you increased your prices?
Always look to make increases either at the start of the calendar year or your financial year.

If you haven’t increased your prices in the last three years, you should be looking at an increase in excess of 5%. Normally, you should raise them by 3% on an annual basis.

There is always sensitivity around certain price points.

For example if your exams are charged at £39 and your hygiene appointments are at the same price, you may feel nervous about breaking through the £40 barrier.

In this case you have the option to leave these prices as they are and raise your fees for your larger volume treatments at a higher level to achieve the overall 3% or 5% increase you are aiming for.

At some point, you will need to take the plunge and raise your exams and hygiene sessions to £40 or over, but you can decide when you are ready to do this.

To illustrate just what a powerful effect price rises have and how important they are, based on a £400,000 income, a 3% price rise represents an additional £12,000 annual profit for your business, which is £1,000 per month.
So do consider your prices and consider them regularly.

Remember if you need further assistance on this or any other financial matter, please contact Clear Vision on 01249 712074.

We’re here to help.

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Original Article: What prices should dentists charge?
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About Clear Vision

The traditional method of setting goals and gauging the success of a dental business does not automatically provide you with what you need and want. As the dental business owner, it puts you last in the queue. Clear Vision believes that your business should deliver the lifestyle you want. So when you work with our friendly and vibrant team of accountants and business advisers, it starts with you. What you want. How you want to create a difference in your life. Tell us your goals and we’ll work to help you develop a strong, positive dental business which delivers the life you want for you and your family. We have worked with dentists all over the UK since 2001. Dentists who share the same challenges and issues as you. And we’ve seen what factors will really make the difference in improving your results and increasing your rewards. So you benefit from what we know works and doesn’t work. For a taste of the insights we share check out our blog for dentists: www.clearvisiondentalblog.co.uk. We’re ready to share our experience and insights with you. Simply call our friendly team on 01249 712074 for an informal discussion. You’ll have our ear, our understanding and the considerable expertise which comes from successfully improving the lives of dentists like you.