Now is a great time to start preparing to raise the fees in your dental practice.

The best practice is to increase fees by 5% every year. Just as other industries have seen their costs go up & have raised prices to compensate, so should you. And yes, it’s essential to do this even if you are an insurance practice. Regardless of the insurance companies’ reimbursement rates, your UCR rate should still be reasonably close to your value.

Many doctors shy away from fee increases out of fear of losing patients. Don’t be one of them! You don’t want to wait several years between fee increases as they would need to be larger than 5% to catch up & therefore, much more noticeable to patients.

Reasonable people will understand that as costs go up, so must prices. Start explaining why you are raising fees to your patients now.

Do you know how your fees compare to other practices in your area? If not, please let us know & we will send you a fee survey for your zip code.

When raising fees, make sure to avoid over-analysis. Don’t raise prices piecemeal, targeting specific procedures. Instead, it’s best to raise them across the board.

If a 5% increase seems daunting, start with 3%. Even the slightest fee increase can significantly impact your bottom line. Talk to us about increasing fees. We are happy to run some scenario projections on your specific situation.