Cost Of Operating Your Dental Practice Getting Out Of Control? 4 Ways To Save Money On Your Dental Supplies
If you own a dental practice, you know how much the overhead and operating costs can really eat into your profits. This is particularly true when it comes to your dental supplies. Luckily, there are some simple steps you can take to gain control of your spending, and reduce the cost of your supplies:
When it comes to saving money on your office dental supplies, it's important that you create a system of accountability. That's difficult to do when everyone in the office is authorized to submit orders. To keep your supply costs down, it's important that you designate one person to submit all orders. That same person should be in charge of maintaining an accurate supply count. Once you choose the person to be in charge of ordering supplies, take the time to give them the training they'll need to purchase the supplies you'll need, without creating a surplus, or running low at the end of the month.
Set a Budget for Supplies
In addition to designating one person as the person in charge of ordering the supplies, it's also important that you set a specific budget for the purchase of those supplies. Many offices set their budget at a percentage of their production budget. However, that can cut too deeply into your profits, especially when you're office is having difficulty with collections. To keep your supply costs from getting out of control, limit the budget to a percentage of the total monthly collections. This will ensure that your supply costs don't offset your profits.
If you're serious about saving money on your office supplies, it's important to get your office involved. Dental supplies are often lost due to mishandling, or waste. Not only that, but misplaced supplies can also lead to unnecessary spending. This can occur when supplies aren't stored in the same location each time. Offer a small bonus to your staff each time supply costs come in under budget. It can either be cash bonus, or an office lunch provided by you.
Look for Markdowns and Discounts
If you're trying to save money on your supply costs, try looking for discounts along the way. One way to do that is by doing business with vendors that provide markdowns. Many vendors will offer significant markdowns, especially when they're in competition with other vendors. Another way to save money is to shop from online vendors who routinely provide discounts for their products.
If you're trying to get control of the budget for your dental practice, use the tips provided here to save money on your dental supplies.