What’s your time worth?
Recently I gave a talk to a group of dentists and staff. During the talk I discussed ways to work more efficiently. One of the items that I mentioned was a single-use safety syringe.
The safety syringe that I talked about has several advantages such as it is quicker to set-up, eliminates the need to sterilise syringes, is way faster to dispose of and it makes needle-stick injuries impossible
The dentists were unimpressed. I asked why. “The syringes cost more.” was the answer.
First, I must say that I don’t accept that they cost more when you factor in the high initial cost of buying re-usable syringes and the fact that those syringes have to be cleaned, bagged and sterilised after every use. Plus those syringes wear out and must be replaced periodically.
But, even if I did accept that the safety syringes cost more, it is an absolute maximum of $1 per use. That led me to ponder: What’s your time worth? Let’s do the maths.
Say, for example, you turn over $4,800 per day. A reasonable amount but not outstanding. I know dentists turning over less and I know dentists turning over more. That means:
an hour of your time is worth $600.
a minute of your time is worth $10.
6 seconds of your time is worth $1.
If a disposable syringe saves you 6 seconds of your time it pays for itself. If it saves you more than 6 seconds then you’re making money by using it. What lesson do I take away from this? The biggest one is to stop penny pinching
If you find a material or piece of equipment that saves time then buy it. Quite often I see dentists not buying time-saving materials and equipment in an attempt to keep costs down. Or they continue to work with old, worn-out equipment that is inefficient. The problem is that by using sub-optimal materials and equipment they reduce their productivity.
I take a different view. I say that you cannot penny pinch your way to prosperity. My viewpoint is:
Dental materials aren’t expensive. Your time is expensive.
You will do better by maximising your clinical productivity and to do that you need every possible assistance you can get. If a material or piece of equipment saves time, then it is a bargain and you should buy immediately.
It’s about mindset and the proper mindset is to want to be as productive and efficient as possible when you’re at work.
6‑handed dentistry boosts productivity, and lowers stress. Most dentists overlook this workflow but it can add hours of productivity to every week.