10 Tips For Reducing Expenses, Improving Cash Flow, and Boosting Sales
Posted Apr 28, 2011 in Management
We're in scary economic times and there's no doubt fewer patients are opting for expensive oral restorations, like cosmetic options and implants. While patients continue to take care of their oral health, removable restorations are less expensive alternatives and "drill and fill" is a substitute for crowns.
How a laboratory responds to these tough economic times determines not only its present survival but also its future success. When business is down, proactive laboratories reduce expenses, improve cash flow and boost sales. Here are 10 tips for doing just that:
Take an in-depth evaluation of your expenses and reduce them as long as they won't impact your level of quality or service--both are essential to maintain during tough times so you don't lose the customers you currently have.
Trim hours for all of your staff over a fairly short duration, like a period of one month, or ask if any employees would...
