7 rules for profitable pricing in practice (Proceedings)

Deciding how to price and what fees to set are some of the most fundamental, yet intimidating marketing decisions veterinarians and practice managers face. To help demystify the process, this program provides a sound formula to use for setting fees as well as a pricing example to help you understand how to use the formula in practice.

When setting fees, it is also important to take into consideration the psychological impact of fee increases on members of the practice team, especially those that will be giving treatment plan and cost (estimates) or collecting fees from clients. What do they need to know to have effective conversations with clients?

Finally, this talk explores ideas for creating a value proposition for clients as well how you can impact clients' perception of a fee increase once one has been made.

The Seven Rules of Pricing

1. Cover your costs

2. Determine the profit margin

3. Price on the high side

4. Adjust "shopper fees" to be competitive

5. Take routine fee increases

6. De-emotionalize pricing decisions

7. Give good value

Pricing Example for a Grade 2 Dental Prophylaxis

This example will be completed in the program.