No matter the size, every dental practice has the goal to reduce overhead and increase revenue. The top way to reduce overhead is to become more efficient, while simultaneously reducing costs. While there are several solutions to reduce unnecessary overhead costs, one of the best approaches is to leverage the right types of technologies.
4 Tips To Minimize Overhead Costs For Dental Practices
If you want to grow your dental practice, increase revenues, and reduce overhead, then you need to implement the following four tactics.
- Leverage A Practice Management System. — As the name suggests, a practice management system is designed to help you find areas where your practice can save money. The optimal practice management system will have a money-finding feature that helps you to discover new revenue streams. Additionally, your chosen management system should help to streamline and automate basic administrative tasks, which will help your front-office staff to focus on increasing the number of patient referrals by creating a high quality customer service experience for each client.
- Choose The Right Big Purchase Technologies. — It is no secret that technology can help dental practices reduce unnecessary overhead; however, it is vital that practices choose the right technologies. If your practice wants to reduce overhead by renting or purchasing a smaller office, then you need to choose technologies that will help you to maximize the smaller space. In the latter scenario, you might choose to purchase a digital imaging and 3-D printing Cerec System or a handheld GLO tooth-whitening tool to eliminate traditional bulky dental devices.
No matter how you want to reduce overhead, make sure that you choose the right technologies to help you reach your goals. Before committing to your chosen overhead reducing approach, you should complete a cost analysis on the big purchase items that you need to increase efficiencies, productivity, and revenue. Make sure that your break-even point is compatible with your practice’s financial capabilities.
- Create Efficiencies And Money Incentives With Automated Services. — Missed appointments or late cancelations are one of the biggest contributors to lost income. From implementing a fee for missed appointments to using an automated SMS messaging service to remind patients of upcoming appointments, there are a number of solutions that you can implement to help your patients keep their appointments. Be sure to choose the solution that will help you to retain positive customer service experiences, while simultaneously combating the negative effects of too many missed appointments, i.e. lost time, reduced income, and inflated overhead percentages.
- Go Green With Apps, Emails, And Other Digital Communications. — The cost of sending out paper marketing materials can quickly add up for any sized dental practice. In order to reduce this overhead cost, run a cost analysis to see if a dental application can replace your paper communications. Dental applications can be used in conjunction with email communications to keep track of patient information, streamline scheduling efforts, automate customer appointment reminders, and a multitude of other overhead-reducing features.
The moral of the story is clear, with the help of the right technologies dental practices can easily reduce unnecessary overhead. From using a practice management system to automating communications with the help of dental apps, there are a multitude of technological solutions that dental practices can and should use. To learn more about how your dental practice can reduce overhead costs contact Spade Technology located in Boston and New England via firstname.lastname@example.org or (508) 339-. 5163