This may come as a surprise but the dental industry faces the pressure of handling the highest overheads compared to any other profession. From managing the dental clinic, providing decent salaries to staff, getting high tech equipment to lab fees, all these expenditures need to be managed every month. If not taken care these expenditures can become easily unmanageable forcing, you to cut down on staff and ultimately closing down a business.
If you are having a hard time managing your dental business, then you must take a look at one expense which is most of the time ignored by the dentist. The Dental supplies overhead can take up to 20% to 30% of your earning which is a huge chunk. Managing a dental facility in a competitive market is difficult but by managing dental supply, you can save a good amount of money which can be used to hire experienced staff, installing advance equipment or rent a better place for a clinic. Here are six ways to cut down dental supplies smartly.
Tips to Cut Down Dental Supplies Overhead:
1. Managing the Inventory
Start by checking your inventory and listing down things that can be cut down. By managing Dental Supply, you will be able to save more money in your bank account. Start by listing down the dental supplies you need and the extra supplies you have on hand. The best way to pinpoint wastage of money is by watching extra boxes of each item that is stored in the room. This way you can keep track of how often you order the dental supplies and how long they can be used. If possible, keep all the supplies neatly stacked in one place so you can easily evaluate your inventory before placing another order.
2. Placing Monthly Orders
Another way to control your dental supply expenses is by ordering products you need month by month. Yes, often we are lured by the prospect of getting expensive supplies at a discounted rate but we tend to ignore the catch of the seller which forces us to buy bigger quantities for availing minor discounts. So, if you want to save money, bulk buying is a strict no-no. Instead buy what you need and make a note on each commodity and how long will they last. If products like tissue, cotton or sanitizer which are used often every day can be ordered in bulk to save money. Make a list of products that are used often in daily dental practice and get them at discount dental supplies stores.
3. Make Budget for Monthly Supplies
When you start evaluating your inventory, the one thing which gets highlights is the expenses you make each month, each quarter and during the year on dental office supply. This might look like a tedious task but analyzing this data will help you figure out the ideal percentage you are comfortable spending over 12 months. When you set this budget, automatically, the expenses made on dental expenditure will stay in budget. You can also ask the dental supply store to give you an additional discount for every month order or bulk order. Ideally, the overhead percentage of any dental expenditure should stay between 6% to 8% of the total net collection. To do expenditure under this range might not be possible every month but if you plan, saving money on small items and buying products at discounted rates will aid you in cutting down expenses.
4. Avoid Finance Penalty Charges:
When you order supplies on credit the bill needs to be paid on time as missing the deadline will put more burdens on business. Always plan your supplies. Take a look at the dental supply store and dental supplies online to find the best deals and order accordingly. Pay the bill on time to avoid any penalty fees from the credit card company.
5. Compare Suppliers in Area:
Sticking loyal to one dental supply store might look like the right thing to do but your balance sheet won’t be showing good sings at the end of the year. With so much competition in the market, there are hundreds of stores who offer discount dental supplies. Take out a day or two to check out dental supply stores in your area and also search dental supplies online. Make a note on what discount each store offers to you. This way you can mix match the sellers and get stuff at a discounted rate that will save your lacs of dollars at the end of the year which is equal to a piece of new dental equipment. If possible, try out the new brands a new business is ready to sell their products at discounted rates. The last tip is to negotiate with a sales representative of the company to save a good amount of money.
6. Smart Purchase:
There are times when we feel threatened by our competitor's dental office or high tech gadgets. Dental services do require certain pieces of equipment and a set of products but it's your skill of dental service that attracts customers. Yes, we advise you to have a neat, well furnished, well equipped dental clinic that has staff which makes the customer feel comfortable. This way you can build goodwill and aid in having a mouth to mouth advertisement. Don’t get lured in buying expensive dentistry products and types of equipment that are not much use to you, Be smart with your purchasing decisions. Invest in reliable products, tested in the market and which aid in the service you provide frequently to your customers. If you are purchasing any expensive equipment or products, study the history of the supplier company and make sure it is backed by credible theory.
Conclusion:
Remember the pricing and cost of dental supplies vary in the local market as well as the online market. A dentist might be using Dental floss which can be cheap as a ½ cent to an expensive dentistry machine of $80,000. Therefore, calculating the best deal from the lot should be your top priority. If you want to watch the expenses to save your dental business make sure to start with dental supplies.
Prime Dental Supply is a full service provider of Every Day Dental Supplies, Dental Office Supplies, Discount Dental Supplies and more for dentist, dental professionals, hospitals and more.
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Following are some of the best-selling dental supplies recommendations for your dental practice:
Dental Anesthetics
Dental Composites
Burs and Diamonds
Crown & Bridge
Dental Cements
Dental Instruments
Endodontics
Dental Implants
Impression Materials
If you have any questions related to our products or services, please feel free to email us at info@primedentalsupply.com or call us at 800-624-4975.
