Technology Budget

According to an article in Investor’s Daily, the average health care office spends 2% of revenue on technology. That includes hospitals as well as physicians and dentists. In addition the article notes that businesses in general spend an average of 10% of gross revenue on technology.

Therefore, an average dental office should plan to invest two percent of gross in technology at an absolute minimum. A better budget would be 5-7% or more for an aggressive high tech office.

The budget should include both capital expenses and ongoing expenses, such as software upgrades, technical support, replacement hardware and most important training.

Money invested wisely in practice development pays off with higher profits in the future. Don’t be stingy with team education. In fact you should try to create an atmosphere of continual self-improvement both for the staff and the dentist. It is worth investing in staff who are committed to the practice and using their new skills.

Author: Larry Emmott, D.D.S.

Recognized as a leading dental high tech authority in the country and with over thirty years of experience as a practicing general dentist, Dr. Larry Emmott’s mission is to help dentists make good technology choices. He is also known as one of the most entertaining speakers in dentistry, with fast-paced, engaging seminars that will have you laughing while you are learning. He has addressed hundreds of professional groups, has been a featured speaker at every major US dental meeting. Since 2003 he has led an annual three day CE adventure course “Technology on the Rocks” in Sedona Arizona. He has written three books on using technology in the dental office; and is a featured contributor to the new ADA book “Expert Business Strategies”. He has contributed hundreds of articles to dental publications; he has been a pioneer in online publishing with his blog EmmottonTechnology.com and has been recognized as one of the top ten dentists in social media. Contact Information E-mail larryemmott@drlarryemmott.com Address 1912 E. Medlock Dr. Phoenix, AZ 85016 Phone 866-500-4085 Blog http://www.emmottontechnology.com