Nervous About Tariffs? Here are Some Strategies to Help.

The new tariffs announced at the beginning of April have the potential to add significant challenges to dental and medical practices because of the increased cost of equipment. According to GlobalData, 69% of US-marketed medical devices are “manufactured solely outside of the US”.

Because the tariffs do not currently provide exclusions for dental equipment or supplies, these costs will lead to increased prices for dental and medical practices. GroupUps has already heard from several of our equipment partners indicating that price increases are already planned for imported equipment. If you want help locking in pre-tariff pricing or finding tariff-free alternatives, submit your equipment needs now.

To help navigate the financial challenges posed by these tariffs, GroupUps compiled some strategies that dental practices can consider:

• Regularly Compare Supply Prices: Make sure you're getting the best prices on supplies. You can do this manually, but you may want to consider using a platform like Method or Curemint that makes it easy to compare prices at all of your supply providers. These platforms also help you to maintain a more diverse set of suppliers, which could help reduce the impact of tariffs.
• Join a Group Purchasing Organization (GPO): By joining a GPO, you gain access to pre-negotiated discounts on supplies and services. This approach can help offset the increased costs resulting from tariffs. Just make sure that the monthly or annual cost of the GPO is less than your anticipated savings on supplies or other services.
  Tip: GroupUps has a partnership that allows you to get a free supply-cost review. To learn more, email quotes@groupups.com.
• Optimize Inventory Management: Make sure your supply inventory management is streamlined to reduce waste and prevent overstocking. If your budget and space allows it, you might also benefit from identifying opportunities to order ahead, taking advantage of prices that are lower now than they may be in the future. Consolidating similar items and suppliers could help you identify bulk pricing opportunities.
• Keep Up with Preventive Maintenance: Make sure the equipment you already have stays in good working order by performing all manufacturer-recommended maintenance, helping you avoid unnecessary replacement costs.

• Find a Local Repair Technician You Can Trust: Things do break sometimes, and typically repairing is cheaper than replacing. Having a relationship with a local repair technician who has flexibility can also be critical for urgent repair needs.
  ‍Tip: Once you’re out of any service or labor warranty, finding an independent repair technician is a great way to save on repair costs compared to large distributors. Plus if you develop a relationship with them, they’ll likely be more accommodating for any urgent repair needs.
• Support Advocacy Through Professional Associations: Professional associations such as the American Dental Association (ADA) provide a number of benefits such as education, news, and other resources. Many associations also advocate for policies on behalf of their members. For example, the ADA was a signer of a coalition letter pushing for “exemption of medical and dental supplies, equipment and devices from tariffs”.
• Work with GroupUps for Equipment Purchases: Because we help dental practices buy equipment every day, we have data analytics and insight to help you make the best purchase decisions for your practice. We’re regularly communicating with equipment partners from across the country, giving us up-to-date information on how tariffs are affecting prices. Plus, we take on the hassle of negotiating so you don’t have to. Share any upcoming purchase plans so we can keep you updated about deals and saving opportunities for equipment you’ll need.

While the introduction of tariffs on dental supplies and equipment has the potential to present significant challenges, these strategies can help you mitigate the impact on your practice’s bottom line.