It comes as no surprise that the dental industry has a high overhead, one of the highest of the medical professions. No wonder office managers are looking for discount or cheap dental products Sydney to help the bottom line. It is all about saving money while maintaining the quality care of a practice.
The first area to tackle is inventory: it must be controlled and/or reduced. This will leave more money on hand for other matters. Having outdated, unused, or extra products in storage is never a wise course of action. Keeping track will open your eyes to your real needs over a given period of time.
Most offices order once a month, not weekly as it is tempting to add unnecessary items to your list. No one wants supplies encroaching on work areas, so keep them to a minimum. Items that are used often are always on order while less used products should be quarterly or annually. You can buy in bulk to save money, of course, but not when it overloads your storeroom.
How long things last dictates their position on your ordering list. There are things that go like hot cakes and can be ordered in larger quantities - but not all those items sitting used on shelves. It is all about establishing a budget and keeping to it. You should set an annual budget so you can see where you stand each quarter. If you put in the time right from the start, you will meet your quota and not exceed it. Overhead is controllable if you know how to do it. Staying within budget is part of office management and a requirement for practice profits.
Good management means seeking cheaper prices when you can. There is no reason not to go discount, especially if your budget is high, and not by choice. Experts say that supplies should not run more than 7% of revenues. If you can do less, so much the better, and still provide adequate service.
One way to stay on track is to pay upfront to avoid finance charges. Sometimes you don't have the cash flow to pay upon ordering, and in this case you will have to accept spending more until profits are adequate. Another way is to understand what you are ordering in order to seek viable, cheaper alternatives. Don't shy away from a deal, all things being equal. Don't hesitate to negotiate price with your vendors. Switching brands may also be a good way to cut corners while maintaining quality.
Comparing suppliers and even changing brands can lead to some real savings in the budget. Loyalty is find, but getting a better price for the same quality item is attractive. Weigh your options carefully, but always with a view toward expenditures. It is an on-going monitoring process in any dental business practice. Profits come from income, but they also come from saving on the bottom line.
Buying smart is the name of the game in the dental industry. You need quality more than quantity in most cases, and keep your services in mind. You want good materials that will do the job your patients expect. Keeping current and on top of things will impact them favorably. High-tech is not always better, and the cheapest is to be avoided too. Somewhere in between is where you ideally want to be to run a smooth, profitable dental practice.
The first area to tackle is inventory: it must be controlled and/or reduced. This will leave more money on hand for other matters. Having outdated, unused, or extra products in storage is never a wise course of action. Keeping track will open your eyes to your real needs over a given period of time.
Most offices order once a month, not weekly as it is tempting to add unnecessary items to your list. No one wants supplies encroaching on work areas, so keep them to a minimum. Items that are used often are always on order while less used products should be quarterly or annually. You can buy in bulk to save money, of course, but not when it overloads your storeroom.
How long things last dictates their position on your ordering list. There are things that go like hot cakes and can be ordered in larger quantities - but not all those items sitting used on shelves. It is all about establishing a budget and keeping to it. You should set an annual budget so you can see where you stand each quarter. If you put in the time right from the start, you will meet your quota and not exceed it. Overhead is controllable if you know how to do it. Staying within budget is part of office management and a requirement for practice profits.
Good management means seeking cheaper prices when you can. There is no reason not to go discount, especially if your budget is high, and not by choice. Experts say that supplies should not run more than 7% of revenues. If you can do less, so much the better, and still provide adequate service.
One way to stay on track is to pay upfront to avoid finance charges. Sometimes you don't have the cash flow to pay upon ordering, and in this case you will have to accept spending more until profits are adequate. Another way is to understand what you are ordering in order to seek viable, cheaper alternatives. Don't shy away from a deal, all things being equal. Don't hesitate to negotiate price with your vendors. Switching brands may also be a good way to cut corners while maintaining quality.
Comparing suppliers and even changing brands can lead to some real savings in the budget. Loyalty is find, but getting a better price for the same quality item is attractive. Weigh your options carefully, but always with a view toward expenditures. It is an on-going monitoring process in any dental business practice. Profits come from income, but they also come from saving on the bottom line.
Buying smart is the name of the game in the dental industry. You need quality more than quantity in most cases, and keep your services in mind. You want good materials that will do the job your patients expect. Keeping current and on top of things will impact them favorably. High-tech is not always better, and the cheapest is to be avoided too. Somewhere in between is where you ideally want to be to run a smooth, profitable dental practice.
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