Price increases

 

Dear Chris,
I am just feeling a little unsure as October approaches. This is when Denplan write to all the patients to inform them of our 2010 fees, with a 5% increase as discussed with you before. I was really hoping by now to be 100% definite about building the new practice and I am still a way short of being able to announce this. I was hoping to send out a newsletter about the new practice prior to the fee increase. Please can you let me have your thoughts on this.

Its interesting that I was discussing price increases on plans a few days ago.

Working with a savvy dentist who had frozen his plan price “in view of the recession” but had increased FPI prices by 25% – nobody noticed or complained and he has increased his cash flow considerably.

Patients notice increases in regular payments – fact – check ups and hygiene.

I suggest you freeze the Denplan increase, make sure you clearly define the demarkation line between “maintenance” and “cosmetics” and then significantly increase your prices for cosmetics – and THEN – get out there and sell cosmetics!

And before Denplan throw a fit (I have no beef with them) – I would say a similar thing in respect of any membership scheme.

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Chris Barrow

Chris Barrow has been active as a consultant, trainer and coach to the UK dental profession for over 20 years. As a writer, his blog enjoys a strong following and he is a regular contributor to the dental press. Naturally direct, assertive and determined, he has the ability to reach conclusions quickly, as well as the sharp reflexes and lightness of touch to innovate, change tack and push boundaries. In 2014 he appeared as a “castaway” in the first season of the popular reality TV show “The Island with Bear Grylls”. His main professional focus is as Coach Barrow, providing coaching and mentorship to independent dentistry.