The industry and technology are evolving rapidly, and the wrong investment today means a missed opportunity in the long term.
Address the distress
Typically, buying a piece of equipment is a distressed purchase, the dentist needs it now because something has broken down or worn out and needs to be replaced. Or, there is an expansion in practice, either in capacity or branching out into new treatment areas, and the team needs new kit to support it.
Whatever the trigger to investing in new equipment it’s always worth pausing before you commit so you can think beyond the short term need and explore whether the equipment will help or hinder you reaching your long-term goals.
A good example of this is a conversation we’ve been having with one of our Dental Directory customers recently. He came to us confident in the type of scanner he wanted. His rationale was sound when it came to achieving his immediate goals and satisfying his budget. But when we talked it through and he shared more details about his plans for the equipment it was clear, that in the longer term, he actually needed something quite different.
This type of conversation isn’t uncommon, especially when it comes to technology-based equipment.
Manufacturers are making it easy to futureproof
Digital dentistry has opened-up a whole new world to dentists, but the technology is changing so rapidly it can be a challenge for a dentist, as busy as they are, to navigate their way through what’s best for their individual needs – short, medium and long-term.
Manufacturers have recognised this. Some within digital dentistry technology are starting to offer optional ‘trade in’ agreements where, after a period, the equipment can be traded in for an upgraded model. This helps to spread the cost of the investment and enables access to the right equipment at the right time.
Initial outlay is always going to play a big part in the buying process, but it’s important to consider the total investment.
Upgrading equipment may facilitate growth, improve efficiency and productivity. It may also be fundamental to achieving your future business plans and even though the initial cost may be higher, if you break the additional cost down on a week by week, or patient by patient basis, it’s usually nominal.
It’s also worth setting in place a staged approach to equipment purchase so you can plan for investment and stagger the costs. Replacing and upgrading equipment in intervals close to the end of their lifecycle is far less stressful than doing so when they’ve broken down and you’ve had to shut up practice until the replacement arrives.
And it’s far less costly in the long-term. There is no lost revenue because of practice closures and equipment is bought at the best price - purchases made in haste can often be more expensive.
Ask the experts
Our recommendation is always to take advice on the best approach for your business.
And, that’s what we’re here for. We’re experts in working alongside dental professionals to help grow and futureproof their practices.
What’s more, sometimes a fresh perspective is all you needed to safeguard your investment and plan for the future.