Tips For Getting Your Dental Practice Up And Running
You’ve already gone through dental school, so you’re not afraid of a challenge. But some of your greatest hurdles still lie ahead, and these are setting up your business, getting new customers, and hiring the right people to help you grow your patient list. The following tips can help you get your practice off to a positive start.
Choose the Right Business Structure
One of the most intimidating aspects of launching a business is creating a legal entity. Fortunately, this isn’t as scary as it sounds, and there are many online resources that can help you launch your LLC, which Cohen Law Firm suggests is the right format for a dental office. You can also register your business name and even research potential competition all from the comfort of home.
Optimize Processes with Adobe Tools
Utilizing PDFs and Adobe tools can be invaluable when launching your new dental practice. PDFs ensure the secure and consistent sharing of important documents, like patient forms and financial records, while Adobe tools offer powerful capabilities for editing, signing, and organizing these documents efficiently. This combination not only enhances administrative workflows but also helps maintain the professionalism and precision necessary in the healthcare industry, contributing to a successful start for your dental practice. Learn more here.
Lay a Solid Marketing Foundation
Marketing begins well before you ever place an advertisement. Your first goal is to write a business plan, which can help keep you organized and outline how you plan to market and to whom. Then, you’ll want to invest in a marketing automation platform, which helps keep everyone on your team on the same page and reduces effort duplication.
Choose a Location Strategically
Any time that you launch a new business, location is everything. The Dr. Bill website recommends making sure that your location is convenient for your patients and has ample parking. You also want to look for a professional building (or standalone location) that’s affordable but offers the option to expand into additional space as your practice grows.
Hire the Right Staff
Every member of your staff plays a pivotal role in the success of your dental practice, and the selection process should extend beyond surface qualities like a charming smile or a cheerful personality. It's essential to ensure that your receptionist, office manager, hygienists, and all other team members possess the necessary qualifications and skills to excel in their respective roles. Additionally, having a hiring plan in place that ensures the availability of staff when you need them is crucial for maintaining smooth operations and delivering quality patient care.
Although you’re likely excited to build your own business, there are a few tasks you should attend to before you open your own office. These include:
Having at least six months' worth of income saved. It’s suggested that you have at least six months’ worth of expenses in the bank before getting your business operational. To accomplish this, begin with your baseline of expenses. You’ll need to know how much you spend on food, clothing, housing, childcare, credit cards, and more.
Discuss your decision to branch out with your family. Starting your own dental office is an excellent way to control your financial future, but it affects more than just you. Talk to your spouse or partner about your goals, and make sure they are supportive.
Consider potential snags. There are many potential barriers in your way of starting your own business. This could be anything from the financial capital to get started to having signed a non-compete agreement that legally prevents you from opening a dental practice in the same proximity as the practice you work for currently.
Embarking on the journey of opening your own dental practice requires meticulous planning, unwavering dedication, and a commitment to providing quality patient care. It's a venture that allows you to shape your professional identity, cultivate a loyal patient base, and contribute positively to the health and well-being of your community. As you navigate the challenges and opportunities that come your way, remember that success in dentistry is not only about the precision of your work — it’s also about the relationships you build and the trust you instill in your patients.
No matter what your business goals are, the Culver City Chamber of Commerce can help you achieve them. Take a look at our resources for small business owners.