A common goal of running a business is to save money where you can. In the wake of the recent pandemic, saving money may be top on your list of goals to reach by year-end. Although unexpected expenses occur occasionally, there are several ways to save money within your practice that could increase your profitability. From changing staff responsibilities to assessing your equipment, you could possibly increase your bottom line by reducing your expenses. To help you recoup some lost cash from COVID-19, Bryant Consultants is sharing some money-saving tips for dental practices.
Staff Members Can Multitask
As you seek staff members for your practice, it is recommended to look in various areas other than someone who has dental experience. If you are looking for a receptionist or front desk staff member, consider someone who is experienced in customer service in a fast-paced environment. Teaching someone dental terminology and dental office standards should be simple. However, looking for someone who has additional experience in organization, customer service, or basic accounting skills can assist you in other areas of your practice.
Office managers should be well-versed not only in dental office experience but should also have extensive computer knowledge or have potential marketing experience. The additional skills provide more opportunities for them to use their talents and save you money by not having to hire an additional person to assist in those areas.
Keep Your Equipment Current
It can be tempting to keep using the same equipment for 15 years or more, but if you notice repairs occurring more often, it may be time to consider a cost-benefit analysis to see if keeping the same equipment is costing you more money than upgrading your technology. Eventually, the equipment could become outdated, and repairs could cost a significant amount of money. Also, with advances in technology, purchasing new equipment could speed up your day-to-day processes. You may find that investing in updated technology actually saves you money in the long run.
Hire a Dental Practice Consultant
A simple way to begin is to determine your basic needs by assessing your practice. Sometimes, this is difficult to do from the inside, especially when you’re main focus is providing top-notch care to your patients. That is where Bryant Consultants steps in. The thoughts of hiring a dental practice consultant may sound like you’re just going to end up spending more money, but the opposite of that is true. We can assess your practice and find ways to increase your bottom line and streamline your processes.
Want to take more vacation without losing money coming into the office? Interested in working less and making more money? Want to treat your team to a nice Christmas bonus without breaking the bank?
If you want to upgrade your practice but don’t see how it’s financially possible, we can help. When you meet with Bryant Consultants, you tell us your goals, and we provide you with options on how to get there.
Dental Practice Consulting in Kingsport, Bristol, and Johnson City
Your dental practice is one that should provide a profit. In order to expand your profit potential, take some time to analyze your staff and equipment to see where you can make changes, and reduce costs. If you need assistance in reviewing your dental practice, feel free to contact Bryant Consultants by calling (877) 768-4799 or contacting us through our website to set up a consultation. We would be glad to help your dental practice save money, so you see your bottom line grow. Are you on social media? We are too! Please connect with us on Facebook and Instagram.
