As we cross the midway point of the year, now is an excellent time for a dental practice to examine its fee structure and see what needs to be updated and improved, said Teresa Duncan, DPR’s insurance editor and a noted practice management consultant.
During a recent video chat with Duncan, I was able to discuss the importance of this midyear activity and ask why more dental practices don’t do it.
“We always think about looking at fees at the end of the year, but that always becomes such a busy time,” Duncan said. “Taking a look at fees now sets the dental practice up for success the rest of the year as well as heading into the new year.”
Duncan also pointed out another good reason for dental practices to look at their fees now rather than later.
“So many dental practices have fees that are incredibly low compared to the national average,” Duncan said. “By looking at your fees now, you can move them up slightly now and again at the start of the year so it’s not such a big shock to your patients. By inching them up slowly, you can easily get your practice to the national average.”
Do you know what the national average is for a certain code or what your colleagues are charging? Look no further. Thanks to an industry-leading partnership with Sikka Software, we are able to show you what more than 12,000 dental practices around the country have charged for 20 types of dental procedures over the last four years. Click here to see our exclusive fee survey.
You can also learn more thoughts from Duncan on fees by reading her article about the top 5 things you need to know about fees by clicking here.
Click below to watch my exclusive interview with Duncan on midyear fee adjustments.