Endo Mastery

NEW YEAR MESSAGE- TIME TO RAISE YOUR FEES

DR. ACE GOERIG

OWNER & CO-FOUNDER

Dear Colleague,


New Year’s Day is one of my favorite days of the year for two reasons that I’m going to share with you in this message.

Resolutions and Renewal

First, there is something about the new year that wipes the slate clean of last year’s troubles or limitations. We become inspired to set resolutions for the coming year. That alone is exciting because it means thinking about what creates progress and forward momentum to better our lives.


We all know that resolutions can be notoriously temporary. If you search the internet, you will find various statistics such as 80% of resolutions fail by the beginning of February. But the flip side of that statistic is that 20% of resolutions do not quickly fail. Even just by the law of averages, at least once every 5 years you will keep at it and potentially make a significant beneficial change in your life.


Personally, I think the turning of the new year is a great time to think about your practice vision. What inspires and excites you in the profession of endodontics? What would you like to accomplish this year? Where would you like to be in 5 years? It’s a process of renewal and rejuvenation of your own energy for the kind of success you want to achieve.


If you research further about why some people succeed with resolutions, the driving factor is usually that they implement a system or structure to reinforce the right choices. For example, the person who schedules time in their calendar to work out usually is more successful than the person who relies on ad hoc daily motivation.


Similarly, when you involve others to keep you in alignment, commitment grows. Involve your spouse or whole family in healthier choices and it becomes a group effort with higher energy. Or, even better, you could work with a professional fitness trainer to map out a program for you, coach you through each activity, measure your results and keep you focused.


Endo Mastery is like a personal trainer for your practice and team. If you have practice goals that need commitment, focus and coaching then we are an incredible ally in that pursuit.

Time to Raise Your Fees

The second reason that I love January 1st is because it is time to raise endodontic fees. Some doctors prefer to adjust fees twice annually in January and July since the cost of living and business expenses are always increasing. You need to keep your fees calibrated to current financial realities.

 

This year it is more important than ever! The McGill dental financial newsletter states that raising fees is the most urgent thing you need to do in 2022. In the 12 months ending October 31st, 2021, we experienced the highest inflation in 30 years. At 6.2%, we have dramatically increased staff, supplies and other overhead costs. Plus, we’ve incurred new expenses to adapt to the pandemic in our practices.

 

Higher inflation is likely to continue into the foreseeable future, so an immediate fee increase is absolutely necessary. Many doctors have delayed or omitted fee increases during the pandemic, but that is not an option now. The McGill newsletter recommends a 5% across-the-board fee increase over your rates from a year ago.

 

I wrote an article about raising your fees which explores these considerations in more detail. You can download it here:

Act Now to Register for Next Week’s Seminar

A final note is that next week on Friday, January 14th and Saturday, January 15th, I’m presenting a livestream seminar called Mastering the Effortless Endodontic Practice. This is a great program for you and your team, and we have a super affordable “all-in” tuition rate of $995 that includes you and everyone in your practice.

It’s almost your last chance to register, so I would urge you to do it today … especially if you have any New Year’s resolutions for your practice. Give yourself the best chance of success and transform your practice and life!

Ace Signaturex300

Dr. Ace Goerig
DDS, MS, ABE Diplomate
Owner, Endo Mastery

P.S. It is my sincere hope that 2022 is your best year ever in endodontics and for your family. That’s our total focus at Endo Mastery. Find out how your practice and economics can grow, and you can live the most amazing life, by registering for the seminar today.