Author: Dean Hallows, Managing Director of Dental Directory
There are many factors influencing a dental practice’s choice between product and equipment suppliers. While prices are important, they are not the whole story – real value is multi-dimensional. It encompasses costs, quality of customer service, product reliability, stock availability, equipment knowledge of the maintenance team and so much more. When a strong professional relationship is built over time, there may also be opportunities for collaborative working and product customisation or development, elevating value beyond everyday standards. This is often the result of a more strategic approach to the partnership, which relies on constant monitoring and assessment of the value received compared to the expected or perceived value provision.
Separating value and price
Having established price alone doesn’t dictate value, how do we separate the two to really understand what is on offer? Unfortunately, there is no simple formula to calculate the cost of the additional benefits afforded, but it can be helpful to compare suppliers. For example, supplier A might offer a piece of equipment for £100, with servicing charged separately at £30 each time with parts at an additional fee-per-item. If supplier B charges £150 for the same equipment but provides annual servicing for 3 years and access to original parts for any fixes as standard, the value afforded far exceeds the seemingly lower initial price.
Consider also the cost of call outs and priority fixes should the equipment malfunction or completely breakdown. The cost of this urgent service, in addition to the efficiency of the response, will contribute to the quality of service you receive and the speed with which your business is back up and running. Where the reaction is slow or inefficient, this will cost the practice significantly in time and reputation, reducing patient satisfaction while also creating extra stress for staff.
Of course, these are massively simplified examples, but the concepts would be the same for any product or technology purchased. From ad hoc parts and repair services, to annual validation and servicing, team training upon installation, access to software upgrades, and ongoing technical support or troubleshooting services, there are many additional services that will substantially increase the value delivered. The combination of everything available will make a difference.
A strategic approach
To further optimise the potential value within the practice-supplier relationship, it is advantageous to move beyond a transactional relationship to one based on communication and collaboration. The former involves simple ordering from the vendor, receiving a product and only contacting them again to arrange maintenance or with a problem. The latter is more considered and takes a more proactive approach to problem-solving and finding bespoke solutions for the practice.
For instance, strengthening your relationship with your local representative will provide a platform for them to get to know your business better. From here, they might recommend products or protocols that they are aware of through their extensive market insights that help to streamline your workflows, elevate your patient care or drive your business development that you otherwise had not thought of. There may also be opportunities to tailor packages or design equipment with specific configurations to suit the dentistry that your practice is unique in offering. This might even be extended with the chance to participate in new product trials or to help the supplier determine which brands to stock and how else to support their customers. The result is a value-driven partnership that benefits the practice immensely in many different ways.
Know your worth
Once you have made a decision, it will be important to monitor your supplier relationship over time. What you don’t want to happen is to choose a company who talks the talk at the beginning but shrinks into the shadows once you have signed on the dotted line. Designate a person in the practice to maintain communication with your representative and build on the partnership over time. If promises turn out to be empty, make a change before it hurts your business. Where the relationship is delivering all the value you envisioned, make sure opportunities continue to be utilised for the betterment of your business.
At Dental Directory, we understand exactly what it takes to establish and grow a successful dental practice, having supported professionals for more than five decades. We prioritise building partnerships with every practice, offering a comprehensive product portfolio, fast responses to queries, efficient technical support and troubleshooting with a team of fully-trained engineers, and so much more. Delivering value is essential to our ethos – and, combined with competitive prices, we are proud to be the number one choice of supplier for thousands of professionals nationwide.
A long-term approach
Your dental product and equipment supplier should be much more than a vendor you order from once a month. When you choose to work with the right organisation, you can leverage the partnership to help propel your business forward for many years to come.
For more information on the products and maintenance services available from Dental Directory, please visit ddgroup.com or call 0800 585 586
