Fighting Inflation - TIPS September/October 2022
Fighting Inflation – TIPS September/October 2022
9 Tips to Fight Inflation – Pages 8-10
The dental industry is waging a new battle on the heels of the pandemic disruption: record inflation, increased wage expectations, and stagnant contracted fee schedules. We know other industries recoup by increasing fees to the customer, but obligatory write-offs through insurance contracts often bind dental offices’ hands and make it difficult to navigate the rough waters of record-high inflation.
The Health Policy Institute reported in June 2022 that only 20.1% of dentists surveyed felt confident in the continued recovery of their practice over the next 6 months. Their confidence in the U.S. economy had been steadily declining since the first half of 2022, with just 20.6% feeling very confident and 36.3% feeling somewhat confident. However, the ADA’s mid-July survey showed confidence levels reversing course and that practice schedules are remaining steady.
While we’ve seen economic ups and downs during the 134 years that Burkhart has been serving practices, we echo the sentiments of the Dental Trade Alliance: we know that dentistry is remarkably resilient to economic downturns.
As a privately-owned company, Burkhart is sensitive to the pressures our clients are facing and are committed to helping by:
- Offering complimentary business management tools to strengthen your systems and enhance your profit margins
- Supporting you as you consider offering additional in-house treatment into your procedure mix
- Advancing technology in your practice to streamline procedures and increase efficiencies while decreasing chair time and staff overhead costs
- Ensuring your core equipment and mechanical room reliably support your patients, team, and practice production needs
Consider us the cavalry coming alongside you in the battle against the effects of inflation. Together, your Burkhart Account Manager, Equipment Specialist, Service Technician, and our Practice Support Team are here to serve as an extension of your team and help you in whatever way we can. Reach out to your Burkhart Account Manager to connect further on how Burkhart can help your practice fight inflation and not just get through this economic window but thrive.
Director of Practice Support Team