How to Discuss Prices Comfortably!

In this episode, Brad explores and offers practical advice on how to talk to patients about money – the cost and payments. There will always be a patient that you will feel uncomfortable talking about money with and it can make you feel awkward – you may be concerned that the patient won’t accept the cost. It’s important to develop an understanding of your value, as a professional you will have invested in yourself and its vital to recognise and acknowledge this is a part of your true value. Dentistry is both a business and the opportunity to change people’s lives for the better and when you generate value, develop trust and establish great communication then the cost becomes less important because it’s all about the relationship and meeting the expectations of the patient.   KEY TAKEAWAYS You need to develop individual communication skills that you are comfortable using and are successful with your clients. If you know the costs and are able to discuss them, there and then it gives the patient confidence in you. You’ve generated value, created a plan that meets their needs, expectations and solves their problem. The cost of the treatment becomes less important as the relationship develops with the patient. When it comes to money the issue is usually with the clinician it is very rarely with the patient. People usually have some idea of the cost of treatment because of easy access to information online. Review how much you have invested in educating yourself If you are the principal review the cost of your fixed assets. How much does it cost to open the door in the morning? It will help you to realise the importance of earning money. Dental practices are businesses that also transform the quality of people’s lives through the work that is done. If you are doing wonderful things you should be re-numerated for it. Knowing the figures can help quieten the internal voice that may question what you should charge. With the evolution of skills and more complex procedures the issue of cost will need to be considered regularly. Engaging all members of the practice team means that when you are discussing cost with a patient you are only sharing the agreed price. Through your discussions, you can prepare the patient with the possibilities of work in the future. A continuing dialogue helps build the relationship with the patient and prepare the way for discussions around possible treatments and cost.   BEST MOMENTS ‘Quantify how much you have spent on being a dentist’ ‘Charging at a rate that is matched to my worth means I am able to do more with my family’ ‘It’s amazing how many patients say ’I’d been thinking about that’       ABOUT THE HOST Brad believes that everyone at any level should be focused on achieving multiple sources of income to create diversity and balance in life. He feels passionate about helping dentists work towards freedom by building wealth in different areas and helping to develop a mindset to improve one’s ability to handle the stresses of clinical life.    Still a practising dentist, Brad has implemented strategies to create a practice to allow him to carry out the dentistry he wants whilst continually expanding with loyal staff and patients. These strategies can be adapted to any dentist, whether you are an associate or the practice owner, to help bring back your passion for dentistry.   In addition to running a successful private dental practice, he has grown several other dental businesses and as an investor is growing wealth outside of dentistry to help protect his legacy for his growing family.   He is chair of the Horsforth Town Team, dedicated to the promotion and development of business in his local area in North Leeds, UK.   Due to his track record and down to earth advice, he has become sought after as a mentor and spends part of his time dedicated to mentoring dental professionals about business, mindset and personal development.   CONTACT METHOD Brad Thornton Instagram Brad Thornton LinkedIn Brad Thornton Facebook