Another possibility is to do what airlines, trains etc do. There's a percentage of cheap tickets, but they come with limitations. You could for example have a small pre-selected list of people who get access to those special "tickets" but it means they get the leftover timeslots, not any day/time they want. Or maybe they get a slot when you're already in the area, etc. So there's a money/convenience tradeoff for the patient that is likely very worth it for them.
Good idea. I also like a small percentage of pro-bono slots for those who really cannot afford it, but may be in a lot of pain and just stuck at home. If 90-95% of her business was at full price, then it should not impact her too much - and also offset any guilt she has about the regular pricing to those that can afford it.
Capitalism provides an answer for this; If you are charging too much, another dentist in the area will notice, and offer the same service for cheaper. Clients will switch to the new, cheaper option, and you will lose business. The fact that you are still busy and have no competition means you aren't charging too much (yet).
A dentist in a nearby city fitted dentures for my elderly neighbor who had no money. Normally, he only cares for low income once a year, but we live over 100 miles away in the boonies. So he took care of her in the summer.
Me too! Went from bankrupt and divorced in 2010 to having no debt besides my house (which has a lot of equity and acutally could pay it off with my savings) but to chicken to do so (I need that cash reserve for my sanity since I was complete broke 10 years ago
@@ryandiedrich6317 My mortgage interest charge was $500 per month. To me that’s no small change. Check your statement & interest charge. If you’re too scared to pay it off now wait till you have $5,000 in savings beyond your mortgage balance. Then pay it off. Every month moving forward will be easier to build your saving account cause you won’t have to make the monthly mortgage payment. Just calculate for homeowners insurance and taxes. Save monthly for that. The rest money leftover goes into savings. Congratulations! It’s a hard road but we’ll worth it in the end.
I would probably not allow free clients or long-standing discounted clients. Because that can create ownership problems. Meaning they feel entitled to your service or deserve the discount. But you could create a sinking fund specifically for the sake of giving. And when opportunity arises you can give out of fullness of your heart but with very specific boundaries. Like comping someone’s appointment.
I was curious about the Bible passages about taking care of widows and orphans. I'm not a Biblical scholar, so I asked ChatGPT. It spit out an answer like it was Billy Graham: James 1:27, Psalm 68:5-6, Isaiah 1:17, and Deuteronomy 10:18. Nicely done.
Yacht salesmen don't worry that not everyone can afford yachts. Airlines don't worry that not everyone can fly cross country. Porsche dealers don't worry that not every can put a 911 or Boxster Spyder in their driveway. Professional athletes don't worry that not everyone can afford a ticket to the game and $15 hot dog. I'm a software engineer: I don't worry that not everyone can hire me to custom build them a software package. * What's the common theme? Not every business caters to every client. Some businesses -- including healthcare -- only reach certain customers. There's no guilt. Just do what you do and do it very well.... then, out of your surplus, you can help other people. I know a car dealer, an airline pilot, and I know me.... I don't know any yacht salesmen or professional athletes. But the people I do know in these kinds of careers (me included), give generously out of our surplus. * Guilt is a tool of the devil.
If you charge more and you’re providing more then your services are not overpriced. If you charge more because you’re exploiting some market conditions while not providing anything extra, then it may become unethical.
Just because you're a Super 8 kind of guy, doesn't make Hampton Inn greedy -- it's just not for you, for now. If your wealth/income increased 10x would Hampton Inn still be greedy?
@@BlackMuslimConservative Yes. Hampton Inn has crappy mattresses and air conditioners. It's not worth $200 per night. I'm a Clark Howard-type Super Saver, by the way.
If she had 5 or 6 other dentists under her profession, she could probably have one that does nothing but free calls and still be running a very successful business. This idea could blow-up very quickly
Another possibility is to do what airlines, trains etc do. There's a percentage of cheap tickets, but they come with limitations. You could for example have a small pre-selected list of people who get access to those special "tickets" but it means they get the leftover timeslots, not any day/time they want. Or maybe they get a slot when you're already in the area, etc. So there's a money/convenience tradeoff for the patient that is likely very worth it for them.
Good idea. I also like a small percentage of pro-bono slots for those who really cannot afford it, but may be in a lot of pain and just stuck at home. If 90-95% of her business was at full price, then it should not impact her too much - and also offset any guilt she has about the regular pricing to those that can afford it.
Capitalism provides an answer for this; If you are charging too much, another dentist in the area will notice, and offer the same service for cheaper. Clients will switch to the new, cheaper option, and you will lose business. The fact that you are still busy and have no competition means you aren't charging too much (yet).
Nailed it!
Exactly right!
As long as government doesn't stop that new dentist from competing.
Saved me saying the same thing.
Until you actually get beyond basic economics and get into the inelastic and unevenly distributed supply of dentists compared to the demand.
A dentist in a nearby city fitted dentures for my elderly neighbor who had no money. Normally, he only cares for low income once a year, but we live over 100 miles away in the boonies. So he took care of her in the summer.
I might’ve been poor when I bought the Dave Ramsey book but he turned that around! Now I own my house and multiple cars. Bank no longer owns me.
Me too! Went from bankrupt and divorced in 2010 to having no debt besides my house (which has a lot of equity and acutally could pay it off with my savings) but to chicken to do so (I need that cash reserve for my sanity since I was complete broke 10 years ago
@@ryandiedrich6317
My mortgage interest charge was $500 per month. To me that’s no small change. Check your statement & interest charge. If you’re too scared to pay it off now wait till you have $5,000 in savings beyond your mortgage balance. Then pay it off. Every month moving forward will be easier to build your saving account cause you won’t have to make the monthly mortgage payment. Just calculate for homeowners insurance and taxes. Save monthly for that. The rest money leftover goes into savings.
Congratulations! It’s a hard road but we’ll worth it in the end.
I would probably not allow free clients or long-standing discounted clients. Because that can create ownership problems. Meaning they feel entitled to your service or deserve the discount.
But you could create a sinking fund specifically for the sake of giving. And when opportunity arises you can give out of fullness of your heart but with very specific boundaries. Like comping someone’s appointment.
I was curious about the Bible passages about taking care of widows and orphans. I'm not a Biblical scholar, so I asked ChatGPT. It spit out an answer like it was Billy Graham: James 1:27, Psalm 68:5-6, Isaiah 1:17, and Deuteronomy 10:18. Nicely done.
That was a really wonderful question and answer!
An unecessary charge by the boss cost me a customer yesterday. Not thrilled.
Yacht salesmen don't worry that not everyone can afford yachts.
Airlines don't worry that not everyone can fly cross country.
Porsche dealers don't worry that not every can put a 911 or Boxster Spyder in their driveway.
Professional athletes don't worry that not everyone can afford a ticket to the game and $15 hot dog.
I'm a software engineer: I don't worry that not everyone can hire me to custom build them a software package.
*
What's the common theme? Not every business caters to every client. Some businesses -- including healthcare -- only reach certain customers. There's no guilt. Just do what you do and do it very well.... then, out of your surplus, you can help other people. I know a car dealer, an airline pilot, and I know me.... I don't know any yacht salesmen or professional athletes. But the people I do know in these kinds of careers (me included), give generously out of our surplus.
*
Guilt is a tool of the devil.
False guilt is, sometimes called scrupulosity ... If she was actually guilty of something she should feel guilty.
Whoa…slow down Dave…I like most Hamptons 😅, but I prefer the Hilton Garden Inns.
Keep doing what you do, enjoying the program!
If you charge more and you’re providing more then your services are not overpriced. If you charge more because you’re exploiting some market conditions while not providing anything extra, then it may become unethical.
your customer will let you know when the price is too high, they want use you.
If you're poor and become disabled, you might start to understand and have some empathy and compassion.
Dave failed to mention that he receives a tax deduction for all the people he helps
If a business is not making a profit you can't afford to do stuff for free. Your comment has no basis.
Hampton Inn is greedy. I'm a *Super 8* kind of guy....
Just because you're a Super 8 kind of guy, doesn't make Hampton Inn greedy -- it's just not for you, for now. If your wealth/income increased 10x would Hampton Inn still be greedy?
@@BlackMuslimConservative Yes. Hampton Inn has crappy mattresses and air conditioners. It's not worth $200 per night. I'm a Clark Howard-type Super Saver, by the way.
This is a ridiculous call
If she had 5 or 6 other dentists under her profession, she could probably have one that does nothing but free calls and still be running a very successful business. This idea could blow-up very quickly
lisa dale and ray
homesins christmas helps pay
john tabeskis day
No you charge as much as you can get. If people are willing to pay for what you’re charging then you’re not charging too much.
❤
Do some cases for free in a case by case basis and don’t broadcast that you’re doing that
Boomer Dave always begging for cheap labor, then cries when employees walk out “Nobody wants to work anymore”
No such thing as greed, it's a social construct.