Launching a dental practice can be an exciting and rewarding way for dentists to build a business out of their career. Years of experience working as a dentist provides valuable insight and knowledge into how to run a practice, but there are a few things that you may not be ready for. Every new practice must overcome a few key challenges before developing a stable client base.
Location and Competition
There are many factors that influence the value of a property for a dental practice. Healthcare providers don’t usually rely on physical visibility as much as restaurants or entertainment venues, but being easily accessed from main roads can encourage patient loyalty. New practices are also likely to struggle in areas that already have strong coverage by other dentists, so it’s a good idea to research the competition to avoid competing in a saturated market.
Insurance and Licensing
Like many other healthcare clinics and facilities, dental practices need to have several types of licensing and certification in place before taking patients. The building itself must adhere to state and local regulations regarding dental offices. The practice also needs to have at least one fully licensed dentist and offices that offer specialized services may require additional credentials. Dentists are also usually required to have a minimum amount of insurance in case of a lawsuit for malpractice or other reasons.
Established dental providers often rely on word-of-mouth and repeat clients to maintain their flow of patients, but a new practice has to take more aggressive action. It’s a good idea to start marketing before the doors even open to start drawing in clients as soon as possible. Establishing a strong web presence through search engine optimization and social media channels is a fundamental part of modern marketing techniques. Practices should also emphasize local outreach in communities around their location.
Finding Reliable Suppliers
Dental practices rely on an array of expensive tools and supplies to provide effective, sanitary services. This requires finding and connecting with reliable sources for all medical equipment and components. For example, finding a reliable hermetic seal supplier is essential for maintaining X-ray machines and other devices. Loyalty does have benefits, but businesses should never stop comparing deals to find better supplies and lower costs when they can.
Running a successful practice can be challenging and stressful, but it’s also a significant professional milestone for a dentist. There are a lot of factors that influence long-term success, but following a few basic strategies when launching the business can provide a game-changing advantage.