Iowa Survey Results | Illinois Survey Results
In the world of dental practice management, setting the right fees is crucial to the health of the business and the quality of care provided. Many dentists struggle with the decision to raise their fees. Maybe it’s fear of losing patients, the worry of appearing money-driven, or simply not knowing how to approach the topic. But here’s the truth: regular, strategic fee increases are a sign of a healthy, forward-thinking dental practice.
In today’s economic landscape—with rising costs, inflation, and increasing demands on your time and team—raising your fees isn’t just a good idea. It’s essential. Hemmen & Associates’ goal is to assist you with continuous improvement of your practice. We now include a geographic-specific fee review as part of our practice valuation analysis or a practice fee analysis is available. Contact Hemmen & Associates for more details.
Dental Fee Survey Results for Iowa and Illinois: A Vital Resource for Practice Growth
In an ever-evolving dental industry, staying competitive means more than just offering excellent patient care. It also means keeping your pricing aligned with market expectations. Hemmen & Associates, a trusted name in dental practice brokerage and consulting, provides regional dental fee survey results specifically tailored for dentists in Iowa and Illinois. These surveys help dentists evaluate, benchmark, and adjust their fees to stay financially healthy while meeting community standards.
Whether you're a solo practitioner, a multi-location dental group, or planning a transition, these survey insights are critical tools in making data-informed decisions that support long-term growth.
Why Fee Benchmarking Matters in Today’s Dental Industry?
Dental practices operate in a complex financial environment influenced by rising operational costs, inflation, insurance reimbursements, and changing patient expectations. For Iowa and Illinois dentists, these challenges are particularly nuanced due to regional economic trends and demographic shifts.
Benchmarking your fees allows you to:
- Maintain healthy profit margins despite inflation.
- Ensure your services remain competitive and fairly priced.
- Justify adjustments to patients with data-backed insights.
- Improve practice valuation for future sale or expansion.
When you undercharge, you risk leaving money on the table. Overcharging, however, could deter patients or reduce case acceptance rates. Hemmen & Associates’ fee surveys ensure you’re neither underpricing nor overpricing your services.
Inside the Survey: What Data is Collected?
Hemmen & Associates have curated fee surveys that reflect actual data collected from dental professionals across Iowa and Illinois. These surveys are not generic—they are regional, updated regularly, and tailored to provide high-impact insights.
The data includes:
- Procedure-specific fees: Including preventative, diagnostic, restorative, surgical, cosmetic, and prosthodontic services.
- Fee ranges: High, low, average, and most commonly charged fees for each procedure.
- Regional segmentation: Results broken down by urban, suburban, and rural areas within Iowa and Illinois.
- Historical comparisons: Year-over-year trends that indicate how fees have evolved.
This comprehensive dataset enables dentists to see how their pricing compares with local and statewide peers.
How to Use the Survey Results?
The dental fee survey is not just a spreadsheet of numbers—it’s a decision-making tool.
Here’s how dentists can apply the survey findings:
1. Compare Your Fees
Start by matching your current procedure fees with the survey’s averages. Pay attention to the “most common” fees—this reflects real-world pricing your patients are likely to encounter elsewhere.
2. Identify Gaps
Are your fees significantly below or above average? Look at procedures where you deviate most from regional benchmarks. These could be underperforming (or overpriced) revenue streams.
3. Set Strategic Adjustments
Use the survey to adjust fees gradually. Many practices choose to bring low-fee procedures in line with the median or slightly above average, particularly when offering higher-quality care or advanced technology.
4. Communicate Clearly
When raising fees, use data from the survey to explain your reasoning. Patients appreciate transparency, especially when it relates to maintaining high standards of care.
Fee Review and Practice Valuation: The Connection
Many dentists overlook how closely fee structures are tied to overall practice valuation. Whether you’re planning to retire, sell your practice, or bring in an associate, having fees that reflect current market rates will significantly influence the perceived and actual value of your business.
Here’s why:
- Higher, justifiable fees = stronger cash flow = higher valuation.
- Fee consistency improves buyer confidence.
- Practices with outdated or inconsistent pricing may be undervalued.
Hemmen & Associates incorporate fee reviews into their practice valuation services, giving sellers a clearer understanding of what their practice is worth—and how they can increase that value before going to market.
Common Misconceptions About Raising Fees
Many dentists hesitate to increase fees out of fear that patients will leave. While it’s important to maintain patient satisfaction, data from practices that benchmark and adjust fees regularly show otherwise.
Myth 1: “If I raise my fees, I’ll lose patients.”
Truth: Fee changes of 3-5% annually are rarely noticed when communicated effectively and backed by service quality.
Myth 2: “Patients will think I’m greedy.”
Myth 3: “I’ll be the highest in the area.”
Truth: With data in hand, you’ll know exactly where you stand—and can avoid this scenario altogether.
Best Practices for Implementing Fee Adjustments
Raising fees isn’t just about adding a few dollars to each procedure. It requires strategy and communication. Here are proven practices:
Here’s why:
- Annual Fee Reviews: Evaluate your pricing each year, ideally in Q1.
- Consider Practice Metrics: Look at production reports, collection rates, and procedure popularity.
- Engage Your Team: Your front desk staff should be trained to confidently discuss fees.
- Document and Justify: Use the Hemmen fee survey to show why an adjustment is reasonable.
- Update Technology and Offerings: If you’re introducing digital x-rays or same-day crowns, pricing updates may be more easily justified.
How Hemmen & Associates Support the Process?
As one of the leading dental brokerage and consulting firms in the Midwest, Hemmen & Associates do more than offer surveys—they partner with practices to drive financial performance and successful transitions.
Their support includes:
- Customized Fee Consultation: Analysis of your current fee schedule with regional benchmarks.
- Digital Survey Access: Quick access to Iowa and Illinois data tailored to your location.
- Valuation Insights: How fee changes can impact short- and long-term practice value.
- Document and Justify: Use the Hemmen fee survey to show why an adjustment is reasonable.
- Transition Planning: Whether selling or merging, they ensure your pricing structure supports your exit goals.
To request the latest fee survey results, please fill out the above form or you can also contact Hemmen & Associates at (800) 745-1438. This small step could lead to significant financial improvements.