Egg prices have risen by 53% in the past year because of supply and demand issues (fewer hens, bird flu outbreak, etc.) and the fact that  EVERYTHING COSTS MORE. 

You see it (if you are paying attention) on your supply invoices, energy and heating bills, and grocery and gas receipts. It’s too bad that insurance companies didn’t adjust their reimbursement rates based on inflation (giving you a raise as the cost of doing business skyrockets).

I bring these things to your attention to make you take a look at your current cash pricing (how much patients are paying) for the medical grade and physician only products and services you offer. If you have chosen wisely, these ancillaries are far superior to store bought options and online gimmicks AND. . . they are convenient (that’s what people/patients want).

For example, I was speaking with a practice last week (very successful, in business for nearly 20 years, in an upper middle class demographic) and asked “How much are you charging for self-pay custom orthotics?” to which the manager answered “$450.” My next question was “How long have they been at that price?” The answer was “So long we can’t remember.”

I suggested that they increase the price to $495 right away as all of my start up practices in the last five plus years have set their custom orthotic charge at $500 from day one. When it comes to custom orthotics remember that the actual devices are only part of your charge. The rest is your biomechanical expertise and prescription writing (evaluation of the patient’s foot type, condition, activity level and goals).