As you set out to start a dental practice, there will be numerous details you’ll need to invest in. From the dental clinic rent to the supplies and equipment you’ll use, there’s a lot that goes into starting a dental clinic. However, there are some tricks you can use to save money on equipment and supplies. Take a look:
#1. Start a budget
First, it’s wise to start a budget when preparing to start a practice. From the salaries you’ll pay to the equipment you need to invest in, there’s a lot that you’ll need to spend money on when getting your clinic going.
From a low-speed dental handpiece to diamond burs and even floss, who knew you’d need so much product to run a successful dental practice? Well, you did, and now with a defined budget, you can see where and how you can save money every month. Keep in mind that when starting out a clinic, the number of patients you have will eventually grow, which means so will your product supply demand. When this happens, adjust your budget accordingly.
#2. Ask for free supplies
Your manufacturer could actually be down to provide you with free supplies. A lot of dental suppliers offer free supplies to their loyal customers, which could actually save your practice a lot of money. This is when doing business with one provider could pay off, especially if you already love their prices.
A dental practice sees supplies leave their hands continuously, so when you keep receiving freebies, you’re bound to save some money. Just make sure that your dental assistant who is in charge of ordering, is aware so they don’t go ahead and reorder the free supplies.
#3. Don’t order in excess
Ordering too many supplies at once could end up costing you more. This typically happens when you have multiple people taking care of ordering supplies, and it is something that can be avoided when you pick a specific person to handle the supplies. Ordering what you need for the month is usually the best practice when it comes to saving money on supplies. Pro tip: use software to keep track of orders, etc.
#4. Buy refurbished equipment
Used equipment isn’t too bad if you know where to look. There are some great suppliers that offer products that look new but are much cheaper than what you’d find when buying brand-new dental equipment.
Not only that, but you could actually buy brand-new equipment that is being sold at an affordable price due to overstocking. As one of the higher costs when starting a new practice, it could be beneficial to purchase used equipment.
#5. Don’t be afraid to negotiate
It’s okay to negotiate with your provider, especially if you’re finding lower-priced materials and supplies elsewhere. You may appreciate the supplier you do business with but would like to pay a lower price for what you can get for cheaper on the market. Discuss your budget needs with your supplier—you’d be surprised, they may say yes. They make money off of your loyalty, and you can save money from it, so it’s a win-win situation for everyone.
In Conclusion
You can run a profitable dental practice and make the money you want. Although there are a lot of products to invest in to get started and maintain your clinic, there are ways you can cut back on what you spend in your clinic. Consider the above-mentioned tips when preparing a business plan for your dental clinic. This way, you can provide quality service to your patients while making a profit.
