5 Ways to Boost the Income of a Dental practice in 2022
(Photo : Yusuf Belek via Unsplash)

In recent years, the COVID-19 pandemic has created complications for every type of business. Some of those that have suffered the most are those that necessitate clients to make a personal visit to receive goods or services. Any company of this time can use all the help that they can get to boost earnings in the upcoming year. 

For a dental practice, the case is no different. While the focus of any health care professional ultimately rests on the care of the patients, part of being able to maintain a high level of care is an ability to make money and keep a business running. 

After all, if a dental practice fails to earn income, then there will be no funds to pay for the staff, hygienists and equipment that are needed to ensure that patients get the best of care. With this need in mind, here are a few ways that any dental practice can boost its earnings this year. 

Revue Your Accounts Receivable Department

Even if your entire accounts receivable department consists solely of yourself and one administrative staff member, it could probably use a review. The end of the year provides an excellent occasion to mark a yearly review of your billing and income. 

If your dental practice contains any unpaid invoices that are long overdue and have gone unnoticed, you likely have income owed to your business that you haven't received. No business can afford to lose money on services rendered, so you'll want to follow up to ensure those bills get paid. 

Selling Dental Scrap

Because dental restoration work requires precious metals, the scrap that is leftover from repairs and new work often contains valuable materials. With their patients' permission, dentists can collect and save that scrap material to eventually take to a company that specializes in the dental refining process to prepare those materials for resale. 

When you're able to earn extra passive income by selling refined gold, silver, palladium and platinum collected during the regular operations of your dentistry business, you easily be able to boost your earnings. 

Increase Your Staff Size

While it may seem counterproductive to start hiring when you want to earn more, the adage about spending more to make more still rings true. When you hire more support staff, more hygienists, or additional dentists to work in your company, you'll expand on the number of patients that you can treat in one day. 

Expand Your Building or Move to a Larger Location

As in the case of hiring more staff, expanding your practice with more treatment rooms will increase the capacity of patients that you can handle and translate directly into extra earnings. 

The COVID-19 pandemic is an excellent example of why any business must always prepare for the unexpected. Get started on expanding your practice and collecting your dental scrap so that you'll have an advantage when unforeseen circumstances arise.