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O3/P1/ T25 - How often do you plan to change your equipment?

Recent research suggests that dentists in the UK change their major surgery equipment, on average, every 14 years. This compares unfavourably with other countries in Europe and also Japan and USA, where the average is approximately 5 – 7 years.

Some people argue that regular planned updates make better sense than to wait until equipment is falling apart or not functioning properly. The main reason for this is consumer power.

Corporate dentistry has, through its relatively high standards of practice design and equipping, set new benchmarks in the public’s mind of what to expect from dentists.

The budget for repairs and renewals should be set at such a level that patients are not put off by worn down appearance but equally they should feel that they are getting a value for money service.

In any case, better equipment is usually more cost effective and should be more reliable, cutting the risk of equipment failure during the working day. It should also allow more complex and better remunerated treatments to be undertaken, increasing the financial viability of the practice.

There are also financial considerations to take into account. Newer, more advanced equipment is of course expensive, but the wide availability of credit and finance makes it more viable. Leasing is, in most cases, an attractive option as it allows you to purchase the equipment at today’s prices and pay for it at a fixed amount every month over a pre-determined period consistent with it’s OUL (optimum useful life).

 Specialist Dental AccountantsSpecialist Dental Accountants 

"He (Mac) has helped me as my practice has expanded from single-handed to a six surgery/8 dentist practice."

                                  "Mac is always available to "pick his brains" and has a solution for any problem!"

"He always offers sound independent advice on all financial and taxation affairs in a way that is easy to comprehend and follow."

"He has helped me through my early associate days and is now proving invaluable in my journey towards practice ownership."

"There is never anything I do in business or personal finance without first consulting Mac."

To read our full accountancy  testimonials, click here.

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This web-site was last updated on 17/01/2012

Specialist Dental Accountants for over 27 years.

Copyright © 2003-2011 Mac Kotecha & Company. All rights Reserved. The information on this site is for general guidance only. It is essential to take professional advice on specific issues about their impact on any individual or entity. No liability can be accepted for any errors or omission or for any person acting or refraining from acting on the information provided on this site.

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