Dental practices face many challenges when it comes to sustaining and growing profitability in today’s environment. With stagnant reimbursement rates and rising labor costs, dental practice owners are feeling the squeeze more now than ever before. Traditional methods aimed at growing production fail to deliver when operatories are full and staff are overworked. If discovering new paths to profit is a goal, then practices should turn to improved procurement as an often untapped opportunity.
Join Dan Traub, VP of Product at Method Procurement, as he shares how a strong spend management strategy can be the engine that powers profits for practices of all sizes. You’ll learn how to leverage supplier relationships to drive new value from your spend. Dan will teach proven methods to elevate how you manage supplies and services, monitor and adhere to a budget, and create a process that everyone on the team can follow with ease. With an optimized approach to end-to-end procurement, dental practices can unlock new profit sources hidden in plain sight.
- Understand the concept of spend management and how it drives profitability.
- Learn the fundamental steps in an effective procurement process, including inventory, sourcing, and settlement.
- Describe the difference between Cost Reduction and Cost Avoidance, and techniques to deliver results with each.
- Develop a working knowledge of managerial controls and financial metrics related to spend.
- Understand available tools and tips for improving your team’s procurement efficiency.
Educational Support Provided By: Method Procurement, LLC.