If your profits at your dental clinic have been stagnant for a while, you need to think about the different ways you can increase the cash flow. It is not just the growing expense that needs to look into. Here are some of the simple ways you can increase cash flow in your dental clinic –
Increase Your Fees
One of the best ways to increase your cash flow is to raise the fees you charge. If you have not made a raise for a few years now, it might be the right thing to do.
Get on Top of Your Collection
If there are some patients that have owed you money, it is best to call them up and ask them to make the payments as early as possible. You can also ask them to pay you online, making it convenient for them.
Renegotiate Your Clinic Lease
Even if your lease is not up, you can talk to the owner and redo the terms. Most owners would be happy to have dentists as their tenants, and you can easily use it to your advantage.
Save on Credit Card Processing
If you have been paying huge fees on credit card processing, it might be time to change your provider. There is plenty of reputed and professional credit card processing company that charges fewer fees while giving you more freedom.
Start a Membership Plan
You can always start membership plans, and your customers are surely going to love them. They will be happy not to pay every time they come to visit you. Having a plan will also keep them on top of their dental treatment requirements.
These are just some of the ways you can instantly increase cash flow at your clinic. It is essential that instead of just watching and waiting for more customers to come in, you need to take proactive action.