Running a successful dental practice comprises a lot of moving parts—ensuring excellent clinical care, creating a positive working environment for your team, fostering loyalty among your patients, and countless others.
With so much to focus on, it can be easy to overlook one of the most significant detractors from a healthy bottom line—steadily increasing overhead costs.
Helpful Hints To Keep Your Overhead Costs Under Control
How does your overhead compare to national averages? What can you do to effectively keep overhead costs down? According to data from the ADA and Bureau of Labor Statistics, the median overhead for all practices is 74.62%, which is extremely high. A few ways you can keep the overhead of your practice low are:
- Regularly crunching your numbers (monthly, quarterly and annually).
- Develop clinical efficiency, especially if you are on PPOs.
- Staff is your largest expense. Have a staff that knows what to do and does it well.
- Increase patient flow.
Advertising resources should be primarily focused online. Begin with a user-friendly website that ranks well within search engines. A strong social media presence will boost the website’s reach, and potential new patients are more likely to patronize your office after someone in their social network shows approval.
Take A Focused Approach To Grow Your Business
We are committed to helping our clients succeed at growing their practice. Each situation is unique and we aim to provide effective, individualized solutions for your business needs. If you have any questions about how you should approach controlling your overhead costs, give us a call! We’d love to help your team map out a plan to meet your goals.