Money can be a controversial topic, but it is a necessary aspect of running any business including your dental practice. Because it’s so necessary to your practice I’ve dedicated this episode to changing the conversation about charging for providing dental services.
I’ll also be talking about how to think of money as a tool, and how you as a dentist and business owner can put the tool of money to optimal use no matter your experience or skill level.
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I decided to talk about money today because of a real-life experience in my office recently. A potential patient caused a scene after being informed about the fees she could incur from her visit. She essentially implied that doctors and dentists are greedy and evil.
And that got me thinking. Personally I don’t believe it is greedy to ask for compensation for services that you provide in your dental business. In fact, it’s essential to charge patients in order to keep your doors open, that’s true for any business in any industry.
To me money is simply a tool and it’s a tool our society uses in exchange for services and goods. As long as you are ethical in setting your fees there is no shame in making money by providing your services. As dentiists we have to change the way we think about making money. Money is not evil; it’s a tool we can use to do good things in the world.
The work you do in your dental practice is necessary, and beneficial for your entire community. Your work not only helps you provide for your family and pay your bills, it also improves the quality of life for your patients, and it helps other businesses. Without income from your business, you could not support your local community.
And if you are concerned your fees are too high know this: the market will deliver that message. If patients are overall unwilling to pay what you charge, you will have to reevaluate. You can do this by either adjusting your fees, or providing more value per dollar.
In order to be successful in your small business you have to get your mindset about money right and eliminate any guilt surrounding making an income. To hear more about changing your relationship with money tune in to this episode of the Business of Dentistry Podcast!
Tweetable: “Eliminate your guilt about making money!”