1.The three-month rule
Tax implications of dental equipment online purchases are significant and should be factored into the decision-making process in a timely manner. Meet with your accountant midyear to track your practice income and estimate end-of-year tax implications. Allow three months to research, view demonstrations from viable vendors, and review pricing quotes before making major equipment purchases of more than $20,000.
2.Investing in core dental function vs. trendy developments
Most last-second impulse purchases involve the latest gadget to create a “buzz” in the profession. Trendy products have a mixed record of success in long-term use and value. Investments in the “less-glamorous” category of core dental function can be a safe and wise investment in the future productivity of your facility. An easily understood analogy is how fathers and teenage sons maintain automobiles.
3.Equipment discounts and trade show specials
I have written about this topic several times and I am always surprised that most doctors remain unaware of the typical pricing structure and product distribution logistics for major pieces of dental equipment.
Manufacturers such as A-dec, Pelton and Crane, Air Techniques, and Sirona distribute their products through networks of resellers. Many manufacturers are very cautious about which resellers they approve to sell and service their products.
4.New facility equipment purchases and “free design”
There are 254 IKEA stores in 34 countries, including 34 locations in the United States. To quote their Web site, the IKEA business idea is to offer a wide range of home furnishings with good design and function at prices so low that as many people as possible will be able to afford them – and still have money left!