The Economics and Business of a Dental Office
On its surface, Costco seems like an odd place for a dentist to go to learn about how to run a dental office. Costco sells giant packages of toilet paper and cereal at a large scale. Dentists deal with individual patients and offer treatment plans specific to a given patient. But when we look a […]
Continue ReadingA lot is changing these days, with updated guidance from the CDC, OHSA and ADA coming more frequently than typical. And things we spent money on yesterday may no longer be useful tomorrow. So it seems like an apt time to look at the sunk cost fallacy. First, let’s define what a sunk cost is. […]
Continue ReadingWe’re going to dive into a bit of behavioral economics here and take a look at a phenomenon call anchoring bias. Anchoring bias happens when someone puts too much weight on the first piece of information they see. For example, if a patient sees an ad where a dentist is offering a new patient special […]
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