Episode #305: Fee Setting Guidelines

  1. August 15, 2024
In this episode the hosts discuss the crucial topic of setting fees effectively in a dental practice.They begin by emphasizing the importance of regularly updating fees, particularly in an inflationary economy, to ensure that dental practices remain profitable.
Like this podcast? Share this idea with your circle who you think might benefit from it.

In this episode of the Less Insurance Dependence Podcast titled “Fee Setting Guidelines,” hosts Gary Takacs and Naren Arulrajah discuss  the crucial topic of how to set fees in a dental practice effectively. They emphasize the importance of regularly updating fees, particularly in an inflationary economy, to ensure that dental practices remain profitable. Gary shares the ideal, though impractical, method of using cost accounting to determine fees, where the exact cost of delivering each service is calculated, and a profit margin is added. However, due to the complexity and variables involved, this method is only feasible for some practices.

This episode will provide guidance to  allow dentists to set their fees based on various percentiles, giving them the ability to align their pricing with the quality of care they provide and the economic environment of their location.

5 Easy strategies for a better dental practice in 2024 beyond
Download the Free E-book Now!

Episode Timestamps

  • 02:20 – Introduction to the topic: ” Fee Setting Guidelines”
  • 02:26 – Announcement regarding the event; Date: September 10, 2024
    Topic: How to Use Hygiene to Create a Thriving Practice
    Registration: ThrivingDentist.com/webinar
  • [04:43 – Introduction to fee setting
  • 15:19 – Discussion on cost accounting
  • 15:56 – Invitation for a Coaching Strategy Meeting

Resources

Schedule a Free Marketing Strategy Meeting with Ekwa!

Schedule a Free Coaching Strategy Meeting with Gary Takacs!

Become a RIDA Member!

Register now

Gary Takacs

Gary Takacs One of Gary's most significant achievements as a dental practice management coach is transforming his own practice, LifeSmiles, from one that was infected with PPO plans, no effective marketing strategy, and an overhead of 80% to a very successful dental practice that is currently one of the top-performing practices in the US.

With over 2,200 coaching clients, Gary has first-hand experience transforming insurance-dependent practices into thriving and profitable practices.

Through his Personalized Coaching Program, Gary shares access to the systems, strategies, processes, and experience gained over 41 years of coaching dentists and transforming over 2200 practices worldwide.

Learn More: www.thrivingdentist.com/coaching/
Connect with Gary Takacs on Linkedin

Naren Arulrajah

Naren ArulrajahAs CEO of Ekwa Marketing, Naren has over a decade of experience working with dental practices and helping them attract the ideal type of patients to their practices. It is his goal to help dentists do more of the type of dentistry they love with the help and support of effective digital marketing.

Ekwa’s "Done-For-You" Digital Marketing model blends fundamental persuasion principles with an all-in-one Digital Marketing solution to help your ideal patients find you and choose you for reasons other than being on their insurance plan.

If you’re interested in finding out if Ekwa is the right fit for you and your practice, book a Free Marketing Strategy Meeting with Ekwa’s Marketing Director, Lila Stone.

Book Free Marketing Strategy Meeting: www.lessinsurancedependence.com/marketing-strategy-meeting/

Recent Episodes

Episode #319: Improving Your Practice Without Completely Committing To Fee-for-Service

Listen Now

Episode #318: How Inflation and a Weak Economy are Making Fee-For-Service an Appealing Option

Listen Now

Episode #317: Are There Potential New Patients Who Are Not Affected by A Soft Economy?

Listen Now