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Implications of a rising inflation rate 1. Rising food prices 2. Increasing Comm

Implications of a rising inflation rate

Yes, it affects everyone in professional field. UNFORTUNATELY SOME WELL ESTABLISHED SENIOR PRACTIONERS MISS OUT ON THE SAME & END UP HAVING LOWER PROFIT MARGINS AND DIFFICULT FOR NEW COMERS.

If one goes about repeated restructure of Professional fees one can beat this.

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From June ‘11, when I had to stop active clinical work, do not visit the clinic regularly – only on demand. Do freelancing @ different clinics for difficult / complicated cases.

KEEP BUSY WITH CAREER COUNSELING / MOTIVATION and advice Dentists to guide them for Improving practice / Selling & partnership etc. Also continue sharing by way of presentations on Practice Management, Planning associate/ partner in practice & Oral Hygiene. THIS IS IN VIEW OF KEEPING SOME INCOME GOING & STAYING ABREAST WITH DENTISTRY – PASSIONATE ABOUT.

Implications of a rising inflation rate

Dear Dr. Harshad,

Increasing professional fees can be one way of beating inflation but you will also have to consider the growing competition in the profession.

There are other ways too of beating inflation by investing in assets which give returns higher than inflation rate without forcing you increase your professional fees to maintain your profits.

 

 

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