(of an item for sale) low in price; worth more than its cost.
"The implant seemed expensive, but really it was CHEAP!"
We have all experienced this.
We should have known better.
It's happened more times than we care to admit.
You "got what you paid for".
I think it happens now more than ever! We often take the advice of others when trying to make a purchasing decision, instead of actually talking to an expert. In DENTISTRY that is like a patient googling their health care, and then taking the advice of others that they should just travel to a foreign country to get dentistry. An implant in the foreign country is less than half the price!!
We talk about the horror stories. Try to convince people NOT to take the advice of search engines and strangers. Yet we do it ourselves, don't we?
How often have YOU shopped for something instead of getting the advice of an expert? Relying on a friend who swears that one and only product they have ever tried is absolutely THE BEST in the world and you should do the same. They have only ever been exposed to one brand, for their own use, in their own environment. They aren't you. They didn't ask what you really need. They never consulted and never knew that there are a myriad of even BETTER products, treatments, tradesmen that would have offered a better solution.
These "GURUS" in our business, promoting their own brand of product. Their own personal gain. They are FANTASTIC salesmen.....you bought it right after that course and drank that psychadelic water...because now you are spreading the word about the product, technique, person being THE ONE AND ONLY way to go! Welcome to the cult.
We lose our minds.
One of the reasons I have HUGE RESPECT for CRA and Dr. Gord Christensen is because, at the time, he was publishing scientific articles, INCLUDING cost of materials per use, and REAL LIFE results. I hope you subscribe or work with an expert consultant who pays attention to this! People who ARE NOT self motivated, rather just give you the BEST advice independent of their own personal gain. Check out Clinicians Report!
In our industry, it is difficult to get independent results. If you are going to launch a product - you can't simply put it on the market without testing. Proving it works. Then what are you going to publish after you have invested millions of dollars only to find out that in some areas the competitive product is actually better? You IGNORE those portions of the results and instead talk about the areas where you are good.
Clinicians Report doesn't care about that! They will tell it as it is. Like Consumers Reports the foundation is supported by the subscriptions of it's members to publish results independent of the manufacturer claims.
Reality! We still needed more in dentistry. Real World Testing! Thus "Reality" ratings was born. " which features all the unbiased product evaluations you have come to rely on when choosing products for your practice".
After that - we really DO NEED to ask our friends! I guarantee not every one uses the same restorative materials, cements, techniques - and yet each has enjoyed much success.
A Bullshit factor - my problem with salesmen and industry
TIMEfactors was born from being a shitty salesman. The worst time in my life was my own fault. I BELIEVED the "ratings" company that has NEVER had a bad review. That is PAID by the manufacturers to evaluate their products and assign a rating. Instead of a bad review - remember they are being paid to give an honest review BY THE MANUFACTURER - they will consult on the product so that it matches the criteria they set out. I TRUSTED this BIASED opinion.
I also trusted the salesman, who only sold that brand, that this manufacturers product was the "bees knees"of bonding agents. Nobody else had anything like it....
My customers trusted me. I sold a ton. It failed.
The biased reviews were purchased. The GURUS were paid to promote any product this manufacturer launched. The product failed aesthetically. Mechanically. It caused an entire industry to lose faith in "self etch" products even to this day....
It is and has been my goal to help this industry eliminate these issues. Help educate you on VALUE!
The same way you practice dentistry....by putting your money where your mouth is....but do we really?
Excellent Dentistry is CHEAP!
Do you say your dentistry is excellent, without a deep self evaluation of the products, skills and techniques you use. Do we ALL UNDERSTAND that 6% of the cost of the dentistry we do (or 4% or 8%) is related to the PRODUCT we use and that approximately 80% of the cost of dentistry is related to the LABOUR! The SKILL! How efficient we perform. How predictable the outcome. How long it lasts....
TIMEfactors is the skill of relating the QUALITY and EXCELLENCE of the product you use for based on two factors
The most important factor. Products you choose MUST be scientifically proven. Independently proven. Street credibility. Good for the patient, offering a LONGER LASTING and MORE RELIABLE, PREDICTABLE outcome! You NEVER make a choice based only on the price of the product because you know that buying something CHEAP costs more in the dentistry you have to redo. In the patient who doesn't return when it hurts, or fails. That excellent dentistry is WHY you wanted to start in this business to begin and QUALITY begins with the products you choose to install. The techniques and skills you learn.
You understand how to relate the costs of the product to the procedure being performed. You know how to convey the message to your patients that you charge a FEE FOR SERVICES not based on "Cheap, basic dental services" that benefit plans pay for - rather you believe in a PREDICTABLE OUTCOME. The fee is relative to the cost of the superior product and more important the superior skill and technique you use...not on what someone else dictates.
If we continue to allow a race to the bottom, others to tell the story of what our product needs to be...cheap....the result will be POOR DENTISTRY. We will compromise our products, skills, team members, businesses in order to promote volume of business and install less expensive, less proven product....
6% and 94%
Your cost to create an incredible smile is 6% materials. Maybe a little more, maybe a little less. Technically the "markup" is about 16.6X the amount you pay.
The other COSTS for your product? Up to 80% is labour and profit.
The ability to increase production can result in a lower cost to your product. Once we understand this concept - we can EXCELL at the products we provide! A lower cost product is one that doesn't fail. Because a FAIL means REDO. Loss of confidence from our customer. Loss of referal. Less people coming in the door.
EXCELLENT DENTISTRY IS CHEAP! Because it LASTS LONGER. We need to learn to tell this story, and quit beating each other up!
(from Investors Group Blog)
"When it comes down to it, time often equals money, so if a more expensive item is indeed higher quality and can last longer, then that’s a good reason to pay more for it.
“Cheap people see cost as the bottom line while frugal people see value,” says Taylor. “When longevity means more, spend more. Longer life can be worth the cost"