As a general dentist, you’re used to treating the same types of cases over and over. But if you want to keep your practice fresh and generate new revenue opportunities, orthodontics is the way to go.
Adding orthodontic services to your practice creates new financial opportunities. Setting appropriate fees keeps diverse treatments accessible for patients while covering costs and maintaining profitability for you.
Learn more about how to set the right orthodontic fees in a general dentistry practice.
Why does orthodontic pricing matter for dental practice success?
Pricing affects more than just your accounting books or your patients’ wallets. In reality, your prices also influence how acceptable your services are in patients’ minds. Prices also dictate whether your practice will be profitable long term.
If practice growth is one of your goals, you’ll need to prioritize appropriate orthodontic pricing. These services are valuable and worth higher fees, but you need to align those fees with current market rates in your area.
In the end, more patients accepting your rates translates to higher revenue and more profit for you. This allows you to reinvest funds into your practice for further growth and better patient experiences. Everyone wins.
5 Ways to Know if Your Orthodontic Services Are Priced Right
Use this guide to nail down orthodontic pricing so your practice can thrive. Here are some signs that your orthodontic services are priced appropriately in your local market.
1. You Understand Your Treatment Costs
Before you can focus on profits, you must understand the full cost behind each orthodontic treatment you offer. Account for supplies, necessary equipment, laboratory fees (especially for practices without an in-house lab), staff time, and overhead costs.
This is a great starting point when first pricing your orthodontic services. Calculate your treatment costs for base pricing, then add to the fees based on other practice needs.
2. Your Fees Reflect Treatment Complexity
Some cases will be more complex than others, and complex cases require more intricate treatments. This is where research and education come in. You must have in-depth knowledge of treatment durations, the number of appointments, and the amount of resources needed for different cases.
Continuing education in orthodontics helps immensely with this. Price the in-depth, intensive treatments higher than standard run-of-the-mill cases to keep things profitable and fair.
3. Your Prices Are Appropriate for Your Market
You may want to charge a certain amount for orthodontic services, but your local market has the final say.
Research local pricing trends, especially among other general dentists offering orthodontic treatments. If your prices are too high (or, conversely, too low), you’ll either run into low patient acceptance rates or suspicion and mistrust.
Patient demographics also matter. Dentists practicing in high-income neighborhoods, for example, can charge more for specialized services than dentists in middle-class or low-income areas.
4. Patients Are Accepting Treatment
Once you’ve implemented pricing, you should monitor your case acceptance rate. How many patients are actually accepting specialized services once they learn the prices? Do they express affordability concerns?
The best way to keep an eye on this metric is to talk to your patients. Your office staff can give valuable feedback as well. Patients must feel that your orthodontic services are accessible and worthwhile if they’re going to accept treatments from you.
Keep in mind that independent orthodontic-only practices often charge more for orthodontic services. As a general dentist, you can’t offer all the same services, so your prices shouldn’t go quite that high if your patients aren’t willing to match them. Lower pricing than orthodontist offices can set you apart.
5. Your Orthodontic Services Are Profitable
Finally, it’s time to evaluate whether your orthodontic services are generating enough profit to make them worth your time. Track your revenue, expenses, and profit margins throughout each quarter. If your expenses are matching or exceeding your revenue and profits, it’s time to adjust your pricing.
How can orthodontic education support your practice’s financial success?
Orthodontic courses for general dentists offer clinical knowledge that directly translates to higher profits and more practice growth. Continuing education shows a strong commitment to your patients, while also giving your practice a leg up financially.
Specialized courses for orthodontic treatments help dentists optimize treatment planning and understand resource requirements. Once you know what you need to provide orthodontic services to patients, you can price them appropriately.
Our orthodontic courses are designed to take your practice to the next level. We give you the knowledge you need to expand your practice and reap financial success.
Set Your Orthodontic Services Up for Financial Success
For a general dentist, orthodontics has the potential to transform a practice’s reputation and finances. Reviewing pricing regularly will keep things profitable and give you plenty of resources to invest back into your patients.
At American Orthodontic Society, we offer specialized orthodontic courses for dentists. General dentistry and orthodontics have more overlap than you might think.
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To learn more about our popular orthodontics courses for pediatric and general dentists, check out one of the upcoming events below.
