To many patients, higher fees are equated with service excellence — the higher the fees, it is assumed, the better the service. This is especially true in retail. For example, those who shop at Nordstrom know they will pay more than at Macy’s, but they are willing to pay more to be treated better. The same goes for FedEx and the post office; Hertz vs. Budget Rent-A-Car; or even staying at the Ritz vs. Holiday Inn.

Sally McKenzie discusses how the setting of fees will influence and shape patients’ perceptions of your practice. McKenzie outlines the things you need to consider when setting fees, She and makes the following points:

• Consider raising your fees at least once every year.
• Consider lowering your fees if you have excess capacity in your schedule.
• Survey your patients about the fees you charge, and analyze the data.
• Evaluate your fees by doing a production-per-hour analysis of each procedure you offer.
• Determine beforehand who’ll analyze fees in your practice.
• Look for trends in the types of treatment that are not being accepted by your patients.
• Don’t discuss your fees over the telephone.

The goal of this program is to get you and your team to analyze your overall pricing strategy.