Post Covid-19 strategies

rkm rdt

rkm rdt

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So what are your plans post covid?
Status quo?
Will your fees increase? Charge more for a PVS than iOS?
Restructure your business model?
Will you rehire or re evaluate?
 
Affinity

Affinity

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I know I will get reamed for this, but Im thinking of offering a discount to new accounts (maybe less for current accounts) for a set amount of time to help them 1. keep the money in our county/state 2. help alleviate some capital for payroll of laid off employees 3. maybe help patients out 4.give to get. I havent put that much thought into it, because its hard to know how things will rebound or when. I dont think this is necessarily a time to raise fees, or start a china blame game, I think thats going to be a game for others to play, not me. Keep it local, help the community. If it doesnt rebound, my plan is to relocate with my golden visa.
 
OP
rkm rdt

rkm rdt

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I won't pass judgement on any strategy.
I'm curious about the post mentality of not only patients but consumers in general.
I see the value of used vehicles will drop because of unsold inventory. Residual value of leased vehicles will drop.
 
OP
rkm rdt

rkm rdt

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Will labs follow with reduced fees? There could be fewer labs to,provide the service.
 
CatamountRob

CatamountRob

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One of my accounts told me that they planned to go to 5 days a week when they reopen, I think there will be an attempt to make some of this up.
 
OP
rkm rdt

rkm rdt

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One of my accounts told me that they planned to go to 5 days a week when they reopen, I think there will be an attempt to make some of this up.
Are you saying I may have to cancel my holidays?
 
CatamountRob

CatamountRob

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Are you saying I may have to cancel my holidays?
I guess that depends when your holidays are? I don’t think they will let dentists go back for quite some time. At least they won’t let them go back to doing procedures requiring high speed hand pieces for quite some time.
 
OP
rkm rdt

rkm rdt

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I guess that depends when your holidays are? I don’t think they will let dentists go back for quite some time. At least they won’t let them go back to doing procedures requiring high speed hand pieces for quite some time.
I think rapid testing will required.
 
Affinity

Affinity

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One account told me he has his practice and student loans deferred for 4 months, that should be a help. I dont want to have to go to COD to get paid, but Im concerned they wont have the capital for some bills for some time.. Truth is nobody can predict the future ..
 
OP
rkm rdt

rkm rdt

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One account told me he has his practice and student loans deferred for 4 months, that should be a help. I dont want to have to go to COD to get paid, but Im concerned they wont have the capital for some bills for some time.. Truth is nobody can predict the future ..
I guess our fee structure where patients pay the dentist plus the lab bill will be helpful here.
 
OP
rkm rdt

rkm rdt

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Can you claim dental,expenses towards your tax filings?
 
Affinity

Affinity

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I havent had any issues with Drs not paying their bills in several years or theydve been kicked to the curb. When the pt pays the lab, are they paying you directly? Like direct deposit? In switzerland, the patient got a separate lab bill , but still paid it to the Dr, then Drs paid me at the end of the month. Never heard of an option otherwise but Im sure its possible, but its a totally different system here. People still use checks haha
 
OP
rkm rdt

rkm rdt

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I havent had any issues with Drs not paying their bills in several years or theydve been kicked to the curb. When the pt pays the lab, are they paying you directly? Like direct deposit? In switzerland, the patient got a separate lab bill , but still paid it to the Dr, then Drs paid me at the end of the month. Never heard of an option otherwise but Im sure its possible, but its a totally different system here. People still use checks haha
No, like Switzerland, the patient pays both to the dentist. This way the patient not only sees the fees up front, they also have a choice as to where the lab work is made.
 
Car 54

Car 54

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One account told me he has his practice and student loans deferred for 4 months, that should be a help. I dont want to have to go to COD to get paid, but Im concerned they wont have the capital for some bills for some time.. Truth is nobody can predict the future ..
Maybe bill out statements twice a month to see how their keeping up financially with their lab bill?

It could help them to not be overwhelmed with 1 monthly statement, and for us, a better monthly revenue stream, until things get back to "normal"?
 
JMN

JMN

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Staff member
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This would be an excellent time to get all your accounts on credit cards as a backstop at least if not automatically.
 
OP
rkm rdt

rkm rdt

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I still have accounts receivable for March left undelivered.
 
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