Raising your dental fees can feel like a risky move, especially in a competitive market. Many dentists hesitate to adjust their pricing out of fear that patients will leave, new patients won’t come, or that they’ll be perceived as greedy. However, many of these fears are unfounded. There are many myths about raising your dental fees, and falling for them can hold your practice back from achieving your financial goals. Here are some of the most common myths about raising your dental fees and the facts that prove otherwise.
Myth 1: Raising Fees Will Drive Away Loyal Patients
This is one of the most common myths about raising your dental fees. Many dentists worry that even a small increase will cause long-time patients to find care elsewhere. In reality, most patients understand that costs increase over time, just like they do for groceries or gas. However, patients are willing to pay more when they feel they’re receiving quality care. If your practice offers excellent clinical outcomes and a good patient experience, most patients won’t bat an eye at a modest fee increase as long as you communicate it in advance.
Myth 2: Insurance Will Cover Less If I Raise My Fees
Another common misconception is that insurance companies will penalize you if you increase your fees. However, most insurance companies pay based on their own allowable fee schedules, not what you’re charging. While there are exceptions, especially for in-network providers, raising your usual and customary fees can sometimes improve your leverage during contract negotiations. On the other hand, waiting too long to adjust your fees can hurt your revenue potential.
Myth 3: My Competition Charges Less, So I Can’t Charge More
One of the most damaging myths about raising your dental fees is the idea that price is your only selling point. Many dentists look at what their competitors charge and assume they need to match or undercut those prices to stay competitive. In reality, this pricing strategy ignores what makes your practice different: your unique value, expertise, and patient experience. Competing on price alone is always going to be a race to the bottom. Patients don’t choose providers based solely on cost. Instead, they choose based on trust, convenience, and perceived quality.
Myth 4: Raising Fees Is Unfair to Patients
Many dentists are compassionate professionals who care about patients and their health. While that means that they have good intentions, failing to adjust fees to account for rising overhead costs and inflation can put your practice at financial risk. Ultimately, that puts patient care at risk too. You can still be patient-focused and fair while charging more for your services. One of the myths about raising your dental fees is that it’s an act of greed. Charging what your services are worth ensures you can continue to deliver the highest standard of care.
Myth 5: Small Fee Increases Won’t Make a Difference
Among the many myths about raising your dental fees, this one often leads to lost revenue year after year. Some dentists believe that increasing fees by just a few dollars won’t help their bottom line enough to bother. The truth is that even small increases, applied across all procedures and patients, can have a cumulative effect. These small adjustments help protect your profit margins.
At APEX Reimbursement Specialists, we want to help you avoid these myths about raising your dental fees and improve the financial health of your practice. We’re here to support you, whether you need help negotiating your reimbursement rates or assistance raising fees at a practice you recently purchased.
Don’t Fear Your Finances with APEX Reimbursement Specialists
If you are ready to get the most out of your practice or learn more about reimbursement negotiation, APEX Reimbursement Specialists is here to help. Contact our team today by calling (410) 710-6005. We look forward to working with you to make your practice a more profitable place.