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Finance: How to improve cash flow in a dental lab?
JR
JR
Jim Rickards, MD, MBA, Start-up & health insurance payer experience. answered:

Out of Pocket Cash Pay Products & Services - You can consider offering products and services patients pay for out of pocket or can use an HSA/FSA account for.

Products - This can include dental care products, but also non-dental related products. You can check for eligible covered products on most HSA/FSA websites. This may require a small retail presence in your office. Alternatively, you can display some products and allow for online purchase whereby you link to the Amazon purchase option and act as an affiliate collecting a commission.

Services - Consider offering vaccines, botox, cosmetic services or think outside the box and offer pain management for headaches or chronic pain issues. Consider partnering with an online platform to offer virtual care as well. Lab testing is also something to consider, this is big in the naturopathic and chiropractic spaces. Look to see what these providers offer that patients pay for out of pocket and consider it for your clinic.

A strategic framework organizing these options then prioritizing them based on your interest, market and teams capabilities would be beneficial to help you make a decision.

Happy to speak more if you like,
Jim

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