Let’s face it – today’s economy is taking a toll on all of us, no matter what our line of work is. A large number of dental practices were already in a bleak financial state by the mid-2000’s, with net incomes beginning to take sharp declines. These financial woes were only exacerbated by the recession, leaving many dental professionals in crisis.
While many dental practices are still reporting a drop off in business today, there are many seeing growth as we approach 2020. So, what can we learn from those successful businesses? To take a step back, identify what is within our control, and guide it to our advantage.
Gaining control of your dental practice’s profitability
As we all know, our dental practices are certainly not recession-proof. We can also agree that we are unable to control the economic climate or any austere financial climates. The days of yore – when our practices and practice production grew predictably, and so did our incomes – are buried deep in the past. Today’s economy demands that we have good systems in place, which promote the smooth operation of our practice and lead to maximum profitability.
One of the most pivotal systems we can put in place to ensure maximum profitability is inventory management. By effectively managing our inventory, we can gain control of what we spend, which saves a significant amount of time and money in the long run. This is particularly important in an industry where a wide range of products is necessary and available, based on each individual case/patient’s needs; options are numerous in terms of brand, raw material, size, shape, tools and more. Buying must be done efficiently if we want to maximize the profit of our business and not end up with a supply room filled with unneeded and forgotten about supplies.
Inventory management: Time for a revamp.
So ask yourself this: Are you buying the right products and in the proper quantities? Are you paying a fair price for them? Do you have your purchasing spread too widely across a variety of suppliers? Are you ordering and receiving your products on time? When you need a product urgently, do your suppliers deliver with that same sense of urgency? Maybe you already have the answers to these questions, or maybe they are making you ponder if your ordering system could be restructured to be more efficient and save you money.
Many dental professionals with many years in the field might feel satisfied with their dental implant inventory and how they supply it – that they are getting the best bang for their buck and with a quality and service they are accustomed to. But let’s entertain an idea here: There could be a better alternative out there that better suits your business.
With the turn of the century came a boom in information technology, which has drastically changed the way the world does business. The dental industry is no exception, seeing not only a spike in the technologies available in the products we use, but also in the ways we can buy them. The online marketplace is a quickly growing venue for buying everything, from clothes to groceries, home supplies to sporting equipment, plane tickets, books, movies, music and so much more. Most people are completely comfortable shopping online. Many businesses are now supplying their needs online, too. So why should the dental industry be different? Why has it been so slow to adapt?
Purchasing dental implants online: How to do it right.
Buying dental implants online can be intimidating. It requires time investment to do the research and make sure we are getting the best prices, reliable quality, and that we are purchasing from someone we can trust. So instead, many continue to pay premiums to purchase from large distributors. A sales representative shows up at your office, shows you a catalog, and from that you select your products and pay a higher price for the comfort of this system – a system that we have grown to trust.
Here is where the alternative steps in.
Edison Medical™ (dental implant bay) is a dental implant supplier that that focuses its business online. The company manufactures and sells premium dental implant parts and products to dentists worldwide, and has become a leader in its market over the past several years, building trust and strong relationships with its clients. Dental professionals around the world are learning that the Edison Medical™ platform is capable of improving their business by:
- Saving time by having it all. Everything you need in one place. No more need to shop around from store to store to check off everything on your list.
- Compatibility. Buying dental implants online should be a breeze, and we make sure it is. Choose from a variety of options compatible with major market brands.
- Premium quality that speaks for itself. We source the finest materials. Manufacturing is done in Germany with the most technologically advanced machines and rigorous quality control guidelines.
- Convenience. Browse online, whenever you want.
- Ordering made simple. The user-friendly interface makes navigating and ordering a breeze.
- Providing quality support. You can get in touch via phone, chat, email, Facebook or WhatsApp – whatever is easiest for you. And you’ll always talk to a real person.
- Putting money back in your pocket. Doing business with Edison Medical™ allows you to avoid the prices of offline dealers and keep more money in your business.
Check out the Edison Medical™ website to see how seamless and satisfying it should be to source your dental supplies online.
Edison Medical™ - YOUR ONLINE IMPLANT SYSTEM.
