Dental Practice: Cutting the Cumulative Costs of Your Medical Supplies
The cost of running a dental practice can be high because of the numerous purchases that you must make for medical procedures. In general, you will need equipment and medical tools as well as in-office pharmaceutical products such as anaesthesia. If you spend money on supplies without extensive control on your budget and cash flow habits, you could end up with minimal profits or debts. Here are some guidelines to help you manage and reduce the costs of dental supplies.
Establish Stringent Inventory Control
You should have strict control measures for your medical supplies inventory. In simple terms, you must set the ideal stock levels for each of the items required in your clinic. Also, you should assign a staff member to keep track of the stock and the changes. The selected employee can also be held responsible for making orders from suppliers and managing the accounts.
If you manage your inventory without deliberate care, you will end up with items you do not need. For example, if you cannot account for the number of surgical gloves in your clinic, you are likely to order from the supplier by making vague assumptions. As a result, you could end up with unnecessary items in your closets, leading to financial inefficiencies in other areas.
Minimise Emergency Supply Runs
You should ensure that there are minimal emergency runs for medical supplies in your dental practice. Simply speaking, you should make sure that you always have necessities in your clinic by making your orders before the stock runs out. Unanticipated purchases of products for your businesses can cause financial losses in multiple ways. For instance, you might have to pay for rush delivery from your supplier. Alternatively, you can send an employee, but this often means mileage reimbursement and miscellaneous costs like lunch. You might have to move appointments due to the lack of essential items.
Purchase in Bulk Sensibly
You can reduce your total supply costs by buying your medical goods in bulk. Typically, medical products companies have wholesale discount plans for clients who buy numerous products. Therefore, if you can save significantly by obtaining a case of needles as compared to a single package, then you should take advantage of the opportunity. However, you should not get carried away. If you do not need a particular item in high quantities or the product has a short shelf life, you should control the impulse for bulk purchases.
Finally, you should negotiate for discounts and great payment plans with your medical goods supplier.