Tips to Keep Your Practice Afloat in Today's Economy | 5-Minute Friday

There's no doubt that in today's economic climate, inflation has hit everybody hard, and our practices and team members are no exception.The economic situation has put a strain on our practices, and we should adapt to the changing environment.For one, we should consider increasing our team member's pay so as to retain them.Secondly, it's important to evaluate our fees to account for inflation and the increased cost of goods and services.You owe it to yourself and those around you to ensure that inflation and the devaluing of currency doesn't hurt you in a way that you later regret.Key Takeaways- Have you increased your team's pay? (00:42)- The case for raising your fees (03:27)- How to go about raising your fees (04:39)- Make sure inflation doesn't hurt you (05:09)Additional Resources🔹 Do You Want More Profits and Lower Stress? ... Register for the OrthoPreneurs Summit  2023: https://opsummit2023.com/🔹 For more information, visit: https://orthopreneurs.com/🔹 Join our FREE Facebook group here: https://www.facebook.com/groups/OrthoPreneurs