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In order for me to make an x amount, if average NHS makes 48k and I wanted to make 1.5 times that much which is 60k, I would calculate my hourly rate based on that and still charge the lab fee seperately.
At that time, if I was charging 130, my competitors were charging 220. I was trying to intentionally undercut them but I had a personal responsibility towards my patients. There wasn't a need to charge such a high price when I could still make a profit by charging a lower price.
When patients would ask " why are you charging less than the other private clinic?"
I would simply be open and tell them: Look this is the hourly rate + debt- therefore im charging you this much, as for the other private clinics, I dont know why they are charging you that much.
With this system, at the start of the year, I would know how much I would make by the end of the year.
In the years practising as a dentist, what aspects do you find most challenging?
Nowadays, we live in a world where it is so easy to get sued as a dentist. Right now, the average dentist gets sued at least 6 times a year.
In my entire career, I only had to go to the dental defence once. In this particular case, I had a failed bridge- the patient had come in with a failed bridge and I had explained to the patient that its not a certainity that this would solve the root problem. Funnily enough, it broke again about a week after and the patient came back and said that I needed to fix the bridge and my expense.
I had the x-ray and explained that was repairing a bridge that was already broken to begin with so the chances of success werent that high anyway.
How did you make sure that you won the case?
What saved me was my patient notes and documentation.
What would you say is your biggest point of differentiation between you and your competitors?
I wasnt solely money driven. It comes back to the old truth- if that was your mother, how would you like to be treated and charged? In the end, its between you and your conscience.
Starting off with a clinic that operated 2.5 days to now, what changes did you bring to the clinic?
Updated equipment (changing sterilisers) and updated new chairs at the end of the second year. It was about providing personalised care.
What was the major set of the clinic's expenses?
Staff- I paid above the normal rate and the staff knew that they were paid more than any other in Perth.
and the other biggest thing I introdued were 2 bonuses a year.
How was the clinic doing in the books initially?
It took about 2 years to be in profit and by the 3rd year doubled profit. First year, I cleared about 9k pounds after all the expenses. It then moved to 18k and 36k.
If you were earning 50k pounds with the American company in middle-east, how were you okay with having a 9k return in your first year?
I wanted to be my own boss and this practice was mine only.