Discussing treatment charges can be something dentists find awkward. Talking about how much things cost is simply not part of the British culture which means it can be a struggle to do. However, charging proper fees is the only way for a practice to survive. So, how do we make having the conversation about payment easier for ourselves?
A lot of this comes down to mindset. Private dental treatment offers numerous benefits for patients, including shorter waiting times, a wider range of services, and often higher quality care. These are some of the elements that add value to the service.
When it comes to setting fees, as my colleague, Sarah Barnard, explains in this blog, a well-run practice will have worked out its overhead costs per surgery, per day (OCPSPD). This is the amount of money it costs to keep a surgery open whether there are patients in it or not. Being clear on this figure makes the task of setting fees much easier as they will be informed by your OCPSPD.
It’s a good idea to be open with your staff about this figure as it helps to keep everyone’s mind focussed on costs. Front of house and admin staff who understand the OCPSPD are more likely to chase up late payers and ensure discounts are only applied where appropriate than a team member who may not appreciate the effects non-payment has on the running of the practice.
Self-sabotage
It can also deter dentists from offering discounts impulsively. Sometimes dentists are their own worst enemies when it comes to charging the correct fees. Some simply aren’t comfortable charging hundreds (or thousands) of pounds for a course of treatment, even though the charge is fair, and so they discount the fee without being asked!
As Ashley Latter says in his blog ‘Discounting fees can be bad for your wealth’ the consequences of impulsive discounting can be greater than you think. The example he gives is of a 10% discount making a dent in your profits of up to 28%! If offering spur of the moment discounts is something done quite often, as his straw poll of course attendees implies is the case, that could result in tens of thousands of pounds of lost profits over the year.
However, knowledge is power so dentists who truly understand their own costs and overheads should find it easier to appreciate that their private charges reflect the real cost of treatment as opposed to NHS charges which can mean a loss in many cases. Knowing this can help increase your confidence in the equity of your fee structure and lessen the discomfort of talking about money.
Once you have set realistic charges you are happy represent a fair deal for your business and your patients, here are some suggestions as to how to make the conversation about payment easier.
Transparent pricing and communication
One of the main concerns for patients considering private dental treatment is how much it will cost. To address this, make sure you have transparent pricing. Clearly display your treatment costs on your website and in your practice. Providing detailed explanations of what each treatment involves and why it is necessary can help patients understand the value they are receiving.
Flexible payment plans/patient finance
Offering flexible payment options can make private dental care more accessible. Giving patients access to patient finance through providers such as Medenta, can overcome the cost vs affordability dilemma for patients (and you!). Spreading the cost of their treatment over several months means patients need only be concerned about affording the monthly fee not the overall cost of the treatment, especially if it’s interest free. It can also open up more extensive treatment plans than the patient may have at first considered.
Membership plans
As with patient finance, dental membership plans help patients spread the cost of maintaining their oral health. As they have already budgeted for their routine examinations and hygiene appointments, they are also more likely to attend than pay as you go patients, resulting in better oral health. Should they need treatment, you can choose to offer a discount as part of their membership. As well as encouraging your patients to maintain their oral health the practice benefits from a regular and predictable monthly income.
Insurance partnerships
Partnering with dental insurance providers can help patients manage the cost of private dental treatment. By partnering with major insurance companies and making patients aware of the coverage options available to them you can help make private dental care more affordable and appealing.
Perfect your customer experience
With private dentistry it’s important to ensure your patient gets a sense of value. Providing an exceptional customer service can help to achieve this. As long as your dentistry is competent then it will be how patients are made to feel when they visit the practice that will help to add a perception of value.
Ensure your team members are trained to offer a welcoming and supportive environment. Concentrate on making your patients feel valued. Happy patients tell their friends and family so this can also lead to word-of-mouth referrals and repeat business, helping to sustain your practice financially.
Addressing affordability concerns
As a private dentist you can choose what fees you wish to charge. For patients who may struggle with the cost of private dental treatment, you could consider offering a sliding scale based on income or even choose to offer work pro bono. It’s your business so you decide how things work.
Hopefully, by addressing these key areas, dental practices can better navigate the complexities of charging for private dental treatment and provide valuable services to their patients with a clear conscience.
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