Will GST Put Dentistry In A Big Loss Or We Can Outperform Against GST?

 

Will GST Put Dentistry In A Big Loss Or We Can Outperform Against GST?

I am Dr. Nilesh Bhimani (B.D.S.), a senior Dental Surgeon from Surat (Guj.) & I would like to throw some lights on effect of GST on Dentistry! Goods and service tax (GST) is one of the most revolutionary step in history of Indian Tax System and future will witness it's real effect. Healthcare services are exempt from GST according to GST Act, 2016. So we don't need to charge GST on out treatment charges as we are not selling products, we provide only healthcare services.

Get information on career & job opportunities, dental news, blogs, clinical case discussion and dental conferences & workshops on our DentistFriend.com dental portal in india

 

There is a lot of buzz about GST; I see many people are talking and discussing whether GST is good or bad on the contrary I know many dentists who neither care for the GST effects nor even willing to know how it is actually going to affect the future of private dental practice. I am writing this blog for all those dentists who are curious & wish to know the after effects of GST with the hope that you will take it positively.

Let's understand how GST is going to affect future and success of your private dental practice. Here are few points which I noticed and would want you to pay attention.

 

A. All standard Laboratories have transform tax statement from 5% VAT to 12% GST, means 7% rise on lab bills.

 

B. All material companies have changed taxation from 5-12% to 12-18% or up to 28% in few cases, means 7-16% rise in billing. 

It's a big amount really..!

 

C. My clinic electricity, telephone , SMC tax, stationary, maintenance, printing, magazines or other monthly based expenses rise from 5% VAT to 12% GST, means 7% rise.

 

D. My clinic Insurance, Membership fees, Conferences fees etc will be also raising to some extent.

E. My staff salaries, doctor's salaries etc will have to be raised in coming months as they have to compensate for their increased expenses due to implementation of GST.

 

F. Most important is my personal expenses.

 

Now onwards my life insurance policies, general insurance policies, lifestyle expenses, food bills, school fees, Tuition fees, shopping , holidays (which is maximum like 28% on luxury holidays)everything I do on my day to day expenses will rise like anything. Friends, We say everyone that we don't need to add GST on patients treatment bills because we are exempted.

 

But are we really exempted on GST even after paying all above expenses?

There is only one solution for all above and that's none other than RAISE YOUR TREATMENT CHARGES!

 

From 1 July onwards minimum 10% rise on your treatment charges would only compensate for the GST which you will pay now onwards & don't think that you have raised charges, instead you have compensated your loss only.! In addition, 6-8% is your inflation rate which means every year your cost of same expenses increases at this rate over a period of one year. So 6-8% hike in charges will again compensates loss of steady income year by year.

 

So Friends, 16-18% (10% GST effect + 6-8% Inflation) rise in your treatment charges will only make you stable in your income year by year. Those who can add more than 18% rise in charges are real brave dentist and I will be happy to add them in my friend list. In fact, this is the best chance to raise your chrages as a momentum. Agreed people will ask you that it is not in your branch but you can tell them that your lab bills, material expense, clinic expense everything rise by more than 10-15% and so you have no other option if you want to justify but most of the times people will automatically justify you without asking about it.

 

I have tried to give you some striking GST effects on your dental practice. Hope we all put a step ahead for a successful dental carrier! Try it today..! Keep Smiling

Source : DentistFriend

Dental Practice Branding: Things To Consider Before Setting Up Website For Your Dental Practice

 

Dental Practice Branding: Things To Consider Before Setting Up Website For Your Dental Practice

A Good Dental Website Complements Your Brand!

 

Visitors arrive at your website, they look around, if they don't like what they see, they leave. So it is very important to get their attention quickly. However, it is also important that website should reflect your brand. 

Get information on career & job opportunities, dental news, blogs, clinical case discussion and dental conferences & workshops on our dental portal in india

 

Consider a website that you have visited. Was the content you were seeking was readily available? How was the presentation? How well was the organization of content? Did it look professional? If the information was, difficult to find, left you confused, did not exist. Now consider your own website. You aim to design a website which can successfully sell your brand.

 

 

1. Aesthetics:

 

While designing your website you should pay special attention on Color scheme, Images, Graphics, Font size, Font style. Additionally your website should have a contemporary feel.

  

2. Content:

 

Content is the King. Users won't come to your website because it is beautiful but because of information they are looking for so create original content. If you just copy & paste the content from some other website it will carry zero value. The content should be well written, error free and it should be appealing. Create an interactive content by keeping it interesting; also you can use pictorial representation wherever it is possible to keep the users engaged.

 

 

3. Clarity:

 

Clarity is rule one when it comes to developing a website. This includes clarity of purpose, content and your contact information. You should have clarity in your vision. Know why you are creating a website, communicate who are you and your purpose through your content. Make sure that the information and layout of your website is easy to understand.

 

 

4. Tabs:

 

It is vital to have a clear idea of the content you want to present. This will help you in determining the number, type and title of the web pages you will need. Some of the more standard types of web pages include: HOME, ABOUT US, CONTENT PAGE, CONTACT US.

 

 

5. Navigation:

 

Create a navigation system that is logical and easy to use. People don't want to visit a website where they are lost. Don't merely rely on your sense of the proper flow. Test and retest with experts as well as your dental team. It should be simple, clear and appealing to draw the interest of the viewer and persuade them to explore other pages.

 

 

6. Compatibility:

 

Users access internet from different devices such as desktops, laptop, mobiles, tablets etc. When the user opens a website on mobile and finds the navigation system difficult then he will immediately go away. So create a website which is adaptable to all screen sizes (Responsive Design).
Visitors use different browsers from their devices to accessinternet. Make sure that your website is compatible with all the leading browsers such as Chrome, Safari, Firefox etc.

 

 

7. Brand Value:

 

Your website gives you a great opportunity to create a brand value and influence your visitors to be your prospective patients. Remember, your website is extension of your dental practice.

 

 

8. Review:

 

Ask your existing patients to write a feedback about treatment, staff and their overall experience during the treatment at your clinic. Positive feedback from your patients increases your credibility 

 

 

9. Social Media:

 

Integrate all your social media accounts in your website. Do not forget to provide social media plug-in of Google, Facebook, Twitter, Linked In, You Tube, Pintrest etc.  Ask your patients to follow you on social networking sites for regular updates on Dental Care.

 

 

10. Call To Action:

 

Show Your Visitors "What to Do?" & "How to Do?" Your website should have some type of call to action, such as "Click here to make an appointment" as it is the ultimate reason to create the website. The entire purpose behind creating a great dental website is to encourage people to make you their dentist of choice. Yes, you want to share information with current patients. However, marketing to new dental patients is your primary goal.

 

Remember, your website is an extension of your dental practice. When you select a domain name for your website, try to keep it short, easy to remember and type otherwise you may lose some of your visitors.  For example:  DentistFriend.com is easy to type & remember compared to The DentistsFriend.com 

Source : DentistFriend

How To Have A Bargaining Free Dental Practice?

 

How To Have A Bargaining Free Dental Practice?

In my last blog you saw how differentiation can help to have a competition free practice. I had also mentioned about adding "Extra Value", in this blogpost let’s see why & how to add that extra value in your practice.

Visit the DentistFriend.com dental portal to know dental courses all over India, to write blogs and participate in discussion forums.

 

 

What does "Extra Value" mean? 

 

In lay man language, it means giving something extra than what is expected by the patient (not that you pull out an extra tooth. :p) It is about making the patient feel important. It is about "Branding" your practice.

 

Why do you need to do it ?

 

Giving that "Extra Value" can help you to retain your patients and there are many other things that it can do!  Again let's start with examples; Did you ever try bargaining at KFC, Dominos or Mac'D? I'm sure never. On the other hand, when it comes to a local restaurant we never hesitate to ask for discount.

 

Why do people pay happily at THE TALVALKARS GYM but groan, moan and complaint when it comes to paying a personal gym instructor? Why do they happily pay 1000 bucks for a 15 min job at TONY AND GUY and they bargain with their friendly neighborhood barber even for 100 rupees?

We try to bargain at places which are considered as local and the synonym for LOCAL is NON-BRANDED! So now you got to my point! You need to change your practice from Local To Branded, because a BRAND belittles the consumer. We find it inadequate to argue, but want to be a part of it, at all costs. In our mind we feel that the brand somehow glorifies us and that's actually true! That's Human Nature!This is why luxury hotels like Taj, Hyatt invest on creating their brand value? This is why they are they behind improving the user experience & building their image in people's mind.

 

I am sure you would have arrived to the conclusion yourself! This is the magic of Branding!

Just imagine what can happen if somehow you could convince the patient that he is getting value for his money. Probably the patient will hesitate to bargain, he might appreciate the services he got at your clinic and it is possible that he will never ever think of visiting any other dentist in future.

 

Just like differentiation helps to build a competition proof practice; branding helps you in bulding a "Bargaining Free" practice. Apart from this it has following advantages:

 

1. It gives a hidden message describing certain feature or attributes of the practice.

 

2. It helps to filter patients and you will spend less time on convincing the treatment options.

 

3. It conveys a message about your services to patients thus creating the image of your practice.

 

4. Once you successfully establish a brand, people always associate your business with some quality/ value.

 

5. It also helps you in retaining patients.

 

 

Want to know about how to do brand your dental practice? Will share everything in detail in my next blogpost.

Source : DentistFriend

Things You Should Know Before Setting Up Private Dental Practice

 

Things You Should Know Before Setting Up Private Dental Practice

Many of us are surrounded by people who have negative approach towards the Dental Profession. Staying arround such people... we also start to think negatively.

Visit the DentistFriend.com dental portal to know dental courses all over India, to write blogs and participate in discussion forums.

 

I know dental profession is getting tough day by day. I agree salary of a BDS graduate is less than a labourer’s salary under MNREGA. I know PG seats are limited. Not only this but even after doing Postgraduation (MDS), the salaries in academics are shrinking these days. Dental Clinic is no more a cakewalk as everyone wants to start dental practice in a city which is already overcrowded with too many clinics. Many of you are leaving the profession to study MPH/MHA or to work at Pharmacovigilance data centers.

But still I believe that we are in one of the best professions in India. We are the Kings/Queens at our places of work. Do not loose your heart... Follow the 7 golden tips for successful Dental Practice.

 

 

1. Clinical Skills:

 

Master minimally in basic dental procedures before setting up your own practice such as Extractions, RCT, Esthetic Cosmetic Work, FPD, CD.

 

 

2. Invest Sensibly:

 

Whenever you open up your practice, do not waste your money much on interiors & show business initially. Instead invest in dental materials and equipments. Trust me nobody bothers it if you are good at your work. I have seen people investing 70% in showbiz & 30% on Dental materials/equipments.

Result: You know they cry after 6 months.

 

 

3. Have Patience: 

 

It will be fruitful only if you remain calm. Dentistry is like every other business. In the 1st year of your practice you pay from your pocket. In 2nd year you reach a break even point i.e there is NO PROFIT NO LOSS. Its only from the 3rd year that you start to earn. 

 

Suppose you are relocating after practicing for 4-5 years at some place; then regardless of your experience you will still have to have patience because your practice takes average 3 years to show profitability.

 

 

4. Keep Control on Yourself: 

 

Do not do Superman stuff in the initial years of your practice. Its very difficult to earn a name but very easy to spoil your name. Do case selection very effectively. If you don't have confidence about the case then either call a specialist or refer it to some experienced doctor. This way you might loose some money but you will make sure that it won't spoil your name.

 

 

5. Continue Learning: 

 

Attend CDE's & Conferences regularly. It will help you to remain confident of your profession and will also keep you up to the date with the new advances in the field.

6. Money Factor: 

 

Never underestimate youself. Charging less is not going to help you in long term. (Read The Price War In Dentistry By Dr.Pranav Agale). Never let the patient bargain; better let him/her go if he/she tries to bargains. Most of them will come back to you for the treatment at your described costs within a week after visiting 2-3 clinics in their vicinity. Always remember good things never come cheap.

 

TELL ME IF ANY PATIENT BARGAINS WITH AN EYE SURGEON OR  A HEART SURGEON? THEN WHY US???

 

 

7. Marketing: 

 

Do regular marketing for your clinic. Because your clinic is just like a CORPORATE firm and you are the boss (MD).  So you have to do all sorts of advertisements (ofcourse ethically) to let patient's know that YOU EXIST.

 

MORE INPUTS FROM SENIORS AND FRIENDS ARE WELCOME.

Source : DentistFriend