Dental Practice Management:Pricing–Avoid the Herd PLUS Leveraging Pricing Part I<\/h1><\/div><\/div><\/div><\/div>![\"Dental](\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27682%27%20height%3D%27230%27%20viewBox%3D%270%200%20682%20230%27%3E%3Crect%20width%3D%27682%27%20height%3D%27230%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" "\\"616778_orig\\"")
<\/span><\/div><\/div><\/div><\/div><\/div><\/div>In dental practice management and fees-avoiding the \u201crush to cheap\u201d can be a real challenge since it\u2019s easy to get caught up in \u201cretail mentality\u201d as one watches the majority of the retail world heading there.<\/p>\n
This something to be aware of and position yourself away from that game.\u00a0 If you weren\u2019t aware of the fact that there has been no long term retail discounter in the history of business you should seek out information on that subject versus believing that \u201cdiscount is king.\u201d<\/p>\n
[Don\u2019t reply, \u201cbut what about Wal-Mart\u201d since in business terms it\u2019s still a very young company.\u00a0 Long term in business means 100+ years.\u00a0 Furthermore, do you honestly believe you can really out Wal-Mart Wal-Mart with a dental practice\u2019s economics?\u00a0 Good luck\u2026\u2026]<\/p>\n
In dental practice management of fees-here\u2019s a good rule on pricing and who you should watch and pay attention to:\u00a0 You can be guaranteed that if 95% are doing X (i.e. racing to cheap), then it\u2019s actually more important to look at the 5% doing Y (selling a premium prices).\u00a0 The 5% likely are in on a secret the 95% do not understand.<\/p>\n
A great example last year was how high end retail greatly limited their supply and sold out of pricey merchandise versus what happened the previous 2 years while they were slashing and burning to move the stuff.<\/p>\n
None of us have the financial base to learn this kind of foolishness on our own with painful \u201cpersonal experience\u201d so when someone blatantly shows you how to stay profitable and they are in the 5%, even if it is in another industry, retool it for your use<\/p>\n
I re-visited a real world \u201cpricing structure\u201d mismatch when I was in Vancouver BC last week.<\/p>\n
![\"\"](\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\")
<\/p>\n
After one of my many meals going \u201chog wild\u201d at Vij\u2019s in Vancouver, B.C.<\/strong><\/p>\nI\u2019ve discussed this example before and some doctors will already be familiar with the example but it provides a continual lesson each time I go.<\/p>\n
One of the world\u2019s best fine cuisine Indian Restaurants, Vij\u2019s, (www.vijs.ca<\/a>) makes its home in Vancouver.\u00a0\u00a0 No matter how many times I\u2019ve eaten there, I can instantly make myself hungry by thinking about the food and crave the food there enough to visit Vancouver twice a year just to fill that craving.\u00a0 (I\u2019m assured by Dr. Irfan Atcha one of our Elite alumni that there are even better Indian restaurants in Chicago and I will eventually take him up on his offer to have a taste test!)<\/p>\nVij\u2019s takes no reservations.\u00a0\u00a0 The wait time on a Thursday, Friday, or Saturday night at 7\u00a0pm can be up to 3 hours.\u00a0 Even when we\u2019ve went at the \u201cblue-hair\u201d hour of 5:30, there have been 30 people on line.\u00a0 On this last visit, a Thursday night, the wait was a mere 75 minutes.\u00a0 As it was a sunny, warm day which also tends to \u201ckill\u201d restaurants in this part of the country since in a region where one only gets a few weeks of summer, going indoors to dine is low on the list for many.<\/p>\n
It goes without saying, the food is always good.\u00a0 They do a great job with making sure you have many choices of wine by the glass and they bring Indian finger food around all the time you wait to keep you happier and to keep your taste buds anticipating the great meal to come.<\/p>\n
The problem going on at Vij\u2019s certainly isn\u2019t the creation of demand or food quality. <\/p>\n
Pausing to look around between bites\u2026.<\/strong><\/p>\nIt is actually too much demand with some valuable customers seeing the lines and leaving which I\u2019ve observed on multiple occasions over many years.\u00a0 If they are a new customer, they are likely to never attempt a second trip.<\/p>\n
What Vij isn\u2019t aware of, that can help him out, is what a Harvard study revealed, many years ago and that\u2019s exactly what we\u2019ll go into next time. In your dental practice management of fees and pricing, there are ways to make you stand out from the crowd and elevating yourself above others in\u00a0 your market.<\/p>\n
Want to learn more………….check out my website <\/a>or take a look at my #1 top selling book on Amazon.<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":6,"featured_media":5107,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[9,182],"tags":[22,23,24,25,14,26,27,28],"yoast_head":"\nDental Practice Management of Fees<\/title>\n<meta name=\"description\" content=\"In dental practice management of fees and pricing, discounting is not the way to go. Your fees should reflect your advanced clinical skills. Using sales and marketing\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/themcanallysellingsystem.com\/dental-practice-management-6\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dental Practice Management:Pricing--Avoid the Herd PLUS Leveraging Pricing Part I\" \/>\n<meta property=\"og:description\" content=\"In dental practice management of fees and pricing, discounting is not the way to go. Your fees should reflect your advanced clinical skills. 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![\"Dental](\"https:\/\/themcanallysellingsystem.com\/wp-content\/uploads\/2010\/07\/616778_orig.jpg\" "\\"616778_orig\\"")
<\/span><\/div>In dental practice management and fees-avoiding the \u201crush to cheap\u201d can be a real challenge since it\u2019s easy to get caught up in \u201cretail mentality\u201d as one watches the majority of the retail world heading there.<\/p>\n
This something to be aware of and position yourself away from that game.\u00a0 If you weren\u2019t aware of the fact that there has been no long term retail discounter in the history of business you should seek out information on that subject versus believing that \u201cdiscount is king.\u201d<\/p>\n
[Don\u2019t reply, \u201cbut what about Wal-Mart\u201d since in business terms it\u2019s still a very young company.\u00a0 Long term in business means 100+ years.\u00a0 Furthermore, do you honestly believe you can really out Wal-Mart Wal-Mart with a dental practice\u2019s economics?\u00a0 Good luck\u2026\u2026]<\/p>\n
In dental practice management of fees-here\u2019s a good rule on pricing and who you should watch and pay attention to:\u00a0 You can be guaranteed that if 95% are doing X (i.e. racing to cheap), then it\u2019s actually more important to look at the 5% doing Y (selling a premium prices).\u00a0 The 5% likely are in on a secret the 95% do not understand.<\/p>\n
A great example last year was how high end retail greatly limited their supply and sold out of pricey merchandise versus what happened the previous 2 years while they were slashing and burning to move the stuff.<\/p>\n
None of us have the financial base to learn this kind of foolishness on our own with painful \u201cpersonal experience\u201d so when someone blatantly shows you how to stay profitable and they are in the 5%, even if it is in another industry, retool it for your use<\/p>\n
I re-visited a real world \u201cpricing structure\u201d mismatch when I was in Vancouver BC last week.<\/p>\n
![\"\"](\"http:\/\/media.tumblr.com\/tumblr_l6alhofnir1qbu5c6.jpg\")
After one of my many meals going \u201chog wild\u201d at Vij\u2019s in Vancouver, B.C.<\/strong><\/p>\n I\u2019ve discussed this example before and some doctors will already be familiar with the example but it provides a continual lesson each time I go.<\/p>\n One of the world\u2019s best fine cuisine Indian Restaurants, Vij\u2019s, (www.vijs.ca<\/a>) makes its home in Vancouver.\u00a0\u00a0 No matter how many times I\u2019ve eaten there, I can instantly make myself hungry by thinking about the food and crave the food there enough to visit Vancouver twice a year just to fill that craving.\u00a0 (I\u2019m assured by Dr. Irfan Atcha one of our Elite alumni that there are even better Indian restaurants in Chicago and I will eventually take him up on his offer to have a taste test!)<\/p>\n Vij\u2019s takes no reservations.\u00a0\u00a0 The wait time on a Thursday, Friday, or Saturday night at 7\u00a0pm can be up to 3 hours.\u00a0 Even when we\u2019ve went at the \u201cblue-hair\u201d hour of 5:30, there have been 30 people on line.\u00a0 On this last visit, a Thursday night, the wait was a mere 75 minutes.\u00a0 As it was a sunny, warm day which also tends to \u201ckill\u201d restaurants in this part of the country since in a region where one only gets a few weeks of summer, going indoors to dine is low on the list for many.<\/p>\n It goes without saying, the food is always good.\u00a0 They do a great job with making sure you have many choices of wine by the glass and they bring Indian finger food around all the time you wait to keep you happier and to keep your taste buds anticipating the great meal to come.<\/p>\n The problem going on at Vij\u2019s certainly isn\u2019t the creation of demand or food quality. Pausing to look around between bites\u2026.<\/strong><\/p>\n It is actually too much demand with some valuable customers seeing the lines and leaving which I\u2019ve observed on multiple occasions over many years.\u00a0 If they are a new customer, they are likely to never attempt a second trip.<\/p>\n What Vij isn\u2019t aware of, that can help him out, is what a Harvard study revealed, many years ago and that\u2019s exactly what we\u2019ll go into next time. In your dental practice management of fees and pricing, there are ways to make you stand out from the crowd and elevating yourself above others in\u00a0 your market.<\/p>\n Want to learn more………….check out my website <\/a>or take a look at my #1 top selling book on Amazon.<\/a><\/p>\n<\/div>![\"\"](\"http:\/\/media.tumblr.com\/tumblr_l6am0jzPfi1qbu5c6.jpg\")