Having built three successful pediatric dental practices from scratch, Ammar Idlibi is an authority not only in dentistry, but also in business. Today, you can hear all different opinions and perspectives about pricing strategies of the dental services.
Dentistry is a business based on relationships. You simply can’t build great relationships and long-term customers if the only thing that you advertise is the cheapest price.
Cheapest price customers are only loyal to the lowest price. The second someone decides to undercut you and offer a lower price, such customers will leave you and go elsewhere. This is why you want to sell quality, service, value, and benefits, not just the lowest price.
Study your area before you decide how to price your dental services. You can easily get all kinds of stats about a zip code for free by visiting the US Census website. If you have a lot of affluent homes around you and all other dentists are competing based on price, there’s definitely an opportunity for high-end services in your area.
It is also helpful to use the laws of supply and demand when commanding higher fees. The busier and less available you are, the more people will want to get an appointment with you.
This is why Ammar Idlibi believes that you always want to find ways to create exclusivity and underline short supply and great demand if that happens to be the case in your practice.