The lack of oversight on spending and inefficient supply ordering processes reducing profitability.
The Solution
Method’s Formulary Management allows for precise control over ordering from.
The Results
Reduced visiting 5-10 different websites down to one.
Freeing up valuable time for the staff.
Eliminating errors and freeing up valuable time for the staff to focus on patient-centric activities.
Introduction
Rifkin Dental is a symbol of dental care excellence located in the heart of the Hudson Valley, north of New York City. Their family business was founded in 1985 by the late Dr. Richard Rifkin, the practice has evolved into a multi-location powerhouse under the leadership of Allison Rifkin, DMD, FAD, and Daniel Rifkin, CPA.
“This type of procurement software is a necessity in the dental business, and Method does a fantastic job”
Daniel Rifkin
Challenges
Unraveling the Tangled Threads of Supply Management
When Daniel Rifkin assumed control of business operations, he faced a twofold challenge. The lack of oversight on spending and inefficient supply ordering processes were putting pressure on the practice's profitability.
Furthermore, the staff spent countless hours navigating the labyrinth of suppliers' websites, attempting to secure the best prices. This tedious process drained resources and led to uncertainties about the Return on Investment (ROl) of each order, and led to tension in the office as ordering could take four hours or more.
The inefficiencies even cast shadows of doubt over the team's productivity.
Reviewing monthly P&L statements didn’t help, leaving the team feeling reactive, unable to curb excessive spending in real-time.
Daniel was convinced that he had to find the remedy for these challenges.
Solution
Method A: Prescription for Efficiency
In 2021, Daniel Rifkin explored various avenues to streamline operations. The search led him to Method’ dental procurement software. After a few conversations, Daniel was convinced that he had found the remedy for their challenges.
It didn’t take long to see results. “After the first two months, I had everyone coming to me saying ‘OMG, this is sooo much better.’”The biggest impact came right away in the form of time savings.
“My staff loves it because it's an easy one-stop-shop for ordering,” Daniel told us. “Compared to having to go to 5 or 10 different websites and order different things, they can just go to Method, find the products, place the order, and move on with their day.”
The formulary feature of Method offered precise control over ordering, eliminating errors and freeing up valuable time for the staff to focus on patient-centric activities.
“The team spends less time on ordering and more time ensuring patients have a timely and great experience, which is always the most important thing.”
Results
A Healthier Bottom Line and a Stress-Free Environment
The impact of adopting Method was immediate and profound. Rifkin Dental witnessed a remarkable reduction in the spend-to-revenue ratio, aligning perfectly with industry best practices at 6%. Beyond the financial metrics, the shift to Method transformed the office environment. The friction and tension associated with the ordering process evaporated, leaving behind a more relaxed and stress-free atmosphere.
Daniel expresses optimism about Method's role in sustaining the company's growth. The simplicity of the overall user experience facilitates swift training, enabling new staff to adapt in less than a day. He firmly believes that supply management software, particularly procurement and inventory management tools like Method, are indispensable for the dental industry's future.
“There's no risk. Method increases the transparency and lets you see all prices across all suppliers and save yourself a ton of money which you can reinvest in the business.”
"With Method, operational efficiency is the fuel that will drive our growth. It's far beyond a tool for our team and has become a necessity in the dental business," stated Daniel Rifkin.
As Rifkin Dental strives toward ambitious growth goals, Method stands with them as a reliable partner, ensuring operational excellence and a seamless path to success.
Ready to transform your dental practice into a seamless, stress-free operation like Rifkin Dental?
Discover how Method's Dental Inventory Management software can simplify your dental inventory processes. The staff at your dental practice will never dread ordering dental supplies again. Book a demo to learn more about Method today
