Udell Webb Leadership Institute

"Adding TENS of THOUSANDS of Dollars in Extra PURE PROFIT Without Ever Lifting a Finger!"

by Dr. Tom "The Gems Guy" Orent
www.GemsInsidersCircle.com

"MASSIVE PROFITABILITY is the ELUSIVE 'Holy Grail' of dental practice.  We strive (as we should) to perfect our clinical skills, and yet our business sense most often falls short. 
At age 36 I came within 3 short (scary) days of filing bankruptcy. By age 46 I'd socked away more than enough wealth from practice that I was able to sell both of my practices and could have retired. For good.  One of the key strategies I employed and now recommend to my clients is to always know exactly where your prices fall with respect to the other guys in your town.

Pricing GEM #1: "the Deadly Middle".  Setting your fees anywhere in the middle is one of the most common and costly business mistakes you can make.  Folks will go to the cheapest if they are looking simply to save a buck.  TOUGH way to make a living... but I suppose if your ONLY goal were to increase patient flow...

Then there are folks who will go to those at the TOP of the price scale 'cause they're looking for the BEST QUALITY.  No, top price doesn't guarantee the quality of your dentistry.  But the public's perception assumes it's so! (NOTE:  Even if using top pricing as a strategy, be sure to keep new patient exam, and recall exam, x-rays and prophies no higher than the 80th percentile of your neighborhood!)

Pricing GEM #2: "Equilibrate Your Fees".  Regardless of what percentile you choose to follow, if you don't "internally equilibrate" your fees, you're FLUSHING TENS of THOUSANDS of DOLLARS down the toilet year in and year out.  Let's say you're comfortable e.g. with being at the 88th percentile.  If you don't reexamine how every one of your fees relates to your local colleagues' it's very likely you'll "think" you're at the 88th but end up with one or two KEY services SUBSTANTIALLY UNDER PRICED for NO REASON! E.g., if your crown and bridge were accidentally at the 78th percentile, 10% lower than you intended, you might be
losing 75.00 for EVERY inlay, onlay, crown and bridge unit you do.  Let's say you prepped 15 units (of all types) each week, or 750 per year... your 10% error translates into a $56,250.00 hemorrhage each year!

One of the best ANNUAL investments I made for my practices was Dr. Dell Webb's Dental UCR Fee Analyzer Kit. It's one of the FIRST and most "Slam Dunk" Gems I URGE with coaching clients to grab!  

And since your patients really have no clue exactly when (or usually even how much!) you've raised your fees, I invented the "Extra Year of Profit" strategy... a GEM which will LITERALLY pay you ONE WHOLE EXTRA YEAR's FEE  INCREASE PROFITS once every six years!  How's it work?  Simple.  Raise your fees every 10 months, instead of once a year... you'll advance by 2 extra months for each increase.  After about 6 years you'll have INVISIBLY sneaked in ONE MORE YEAR's FEE increase!