December 18, 2019
by Derek Edison
Congratulations on choosing one of the most transformative career paths. Indeed, you must have sacrificed a lot to complete a training program in dentistry. So, you’re here now and have chosen to take the private practice route. Another great move deserving of praise! The independence and flexibility that comes with private dental practice are commendable.
But as you shall find, you require a competent team to make it happen, a group that can handle the emerging trends and challenges in the world of dentistry. Therefore, it pays to have as much information as possible before you take the plunge.
Read on for a more insightful view on how to start and grow your private practice as a dentist.
The good news about pursuing a career in dentistry is that the industry has some of the lowest failure rates. But on the off chance that things don’t work out for you, you may be ruined both financially and professionally. Even before you start off, survey the lay of the land in your locale. Is there a gap in the market that you can fill? Remember that after all, it’s a business venture, so the profit motive must feature prominently in each decision you take.
After identifying a gap, reach out to current practice owners and find out from them what challenges they experienced in their nascent years. Examine your potential to surmount those challenges. And if everything looks promising so far, proceed to the next step.
It’s relatively easy to find trained dental practitioners. But finding one who’s specialized in a particular domain and committed to their work is no walk in the park. This step may prove more challenging if you’ve never recruited before. No need to worry, as you can engage the services of a recruiting firm to help you secure the right team.
While you’re at it, insist on hiring dentists with varied specialties. From dental hygienists and dental surgeons, orthodontists, periodontists, laboratory technicians, etc. You may need to allocate more funds for that, but it’s worth the risk. Once you have your staff in place, impart the teamwork spirit in them right from the get-go. Let them know your company policies, mission, vision, and above all, the importance of committing to these undertakings.
According to the American Dental of Georgia, finding the right dental equipment is a common challenge most dentists go through. Do some research on the most advanced equipment and allocate funds for those.
Investing in low-quality dental equipment may appear cost-effective, but it’s a false economy. Therefore, insist on cutting-edge dental machines that are designed for efficiency and durability. From lasers to pluggers, chisels, and even x-ray machines, ensure it’s the industry’s best.
Grasping dental economics lies in forging partnerships with like minded individuals. That will boost your visibility and promote your brand. First off, you should network with fellow dentists within your area of operation. That you can do both offline and online through social media platforms like LinkedIn and Twitter. Through your interactions, you’ll learn of emerging trends in the industry and work collectively for the furtherance of your individual practices.
Join local dental associations as they’re a treasure trove of information on how the industry works. In these associations, you’ll meet prominent industry leaders who have been there and done that. You can leverage their experience to help spur the growth of your clinic. Besides partnering with fellow dentists, also forge relationships with individuals and firms that offer dental-specific services. For instance, you may desire to scale up your business in future. How about you hire dental-specific building contractors? In the same breath, you may consider dental-specific lenders for all your capital needs.
You’ll discover that many people seeking dental services lack comprehensive dental insurance. Some don’t have any insurance at all. Fortunately, you can change the fortunes of such patients by offering them cost-effective financial policies. It’s recommendable to provide both short- and long-term financing options.
More importantly, endeavor to educate your patients on the significance of such policies. By so doing, you’ll invariably win referrals and maintain impeccable reputation. And as a private dental practitioner, there couldn’t be a better way of attracting and retaining clients.
According to All-Star Dental Academy, one of the common mistakes private dentists make is not prioritizing training. The problem normally results from placing the profit motive above everything else in your business. And it has heralded the downfall of many private dental clinics. You should have provisions for career progression, both for yourself and your staff members.
The dentist industry is a continually-evolving sector. Each day, there are newer and better technologies to grapple with. You can only stay abreast of these developments if you prioritize training.
There goes our guide on how to start and grow your private practice as a dentist. To excel in this industry, you must be patient, resilient, and have a strong will to learn.
About the Author
Derek Edison is a blogger and writer, a generalist who likes to share the knowledge he has gathered over the years in an engaging manner.
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