WHAT’S A FAIR FEE?

I get this question a lot from doctors.  And, when it’s not answered by the Doctor and accepted by the team, it becomesammunition for the sales prevention department, a tool used by them, often unknowingly, that undermines patient acceptance and sabotages practice success.

THANKSGIVING and the Holiday Season is upon us, and it is a time to reflect upon our bounty and be grateful.

GRATITUDE should be the overriding sentiment during this time of the year.  Ideally, we should always be grateful for the blessings we enjoy.

Are YOU grateful for your fees?  

Are your patients grateful?

With the current economic situation as it stands, no one seems to be grateful.  Instead, an attitude of scarcity and lack seems to pervade the land.

Let’s try to change that, at least within the 4 walls of your practice.

Dr. Omer Reed defined a fair fee as follows.

“A fair fee is any fee that both the buyer and the seller can agree upon with gratitude and without remorse.”

The buyer, in this case the patient is concerned with an outcome.  Their primary focus is “can this person take care of my needs?”  The more ‘urgent’ the issue, the less price will be a factor.  People will do most anything to get out of pain.

A client of mine, an Endodontist group has about a 95+% case acceptance rate.  People need what they have…RELIEF.  The alternative, which is presented, is an extraction, which often then comes along with a high-priced implant and crown.  Plus, of course, they are being “pre-framed” by the referring dentist as the authority, expert, and solution.

Patients want an outcome.  The key is to determine as early as possible in the relationship, what that desired outcome is.  Then it’s a matter of connecting the outcome to the investment.  Just doing that will increase case acceptance significantly.

Too often, we see the investment connected to the process.  Sorry, but the process has a negative value.  No one want to have the process.  What patients want is an outcome.

In fact, Omer Reed famously never even discussed the process.  His 7 slides for full–mouth reconstruction case presentation showed before and after pictures.  There were no in-betweenphotos of crown preps, impressions, or temps.  CONDITIONàSOLUTION.

What’s the value of a veneer vs. a smile?

A veneer is a part of a ‘process’ that helps create a beautiful smile.

What’s the value of an oral appliance vs. a refreshing night’s sleep or relief from pain?

An oral appliance is just one part of the ‘process’.

Warren Buffett was taught by one of his mentors that; “Price is what you pay, value is what you get.”

The challenge is that VALUE is in the desired outcome.  And unless YOU know that, and make that the ‘product’, almost any price will be too much.

STOP SELLING PROCESSES!

According to Dr. Reed, YOU, the dentist, or seller, must also feel gratitude for the investment of time and effort into delivering the outcome.

When you look at contracted fees from insurance or government payers, do you feel GRATITUDE or REMORSE?

If you feel REMORSE, please reach out to me so we can discusshow you can change that paradigm in your practice.

YOU DESERVE BETTER!

You’ll see many solutions proffered.  There’s NO SINGLE SOLUTION that’s right for everyone.  There are many factors involved in moving to a FEE FLEXIBLE PRACTICE.

You have gone through too much to feel REMORSE for anything in your practice, especially the fees you receive for your labor.  And there are solutions.

Let’s strategize and build a personalized and custom solution that will work for you.

Schedule your FREE strategy session now.  And when you do, you’ll receive a copy of my newest books.

I’s like to take this opportunity to thank you for allowing me the opportunity to continue my mission of helping dentists help themselves and through that, help more people achieve oral health and wellness.

Wishing you a Joyous Thanksgiving,

Michael