Becoming a qualified dental professional is an achievement many can only dream of, and taking this on into a successful career working in a practice is usually the next step. However, if you have bigger ambitions and are thinking of starting your own dental practice, your road may be a little more complex. Combining your skills and hard-earned education with the rewards that come from being your own boss is difficult to beat. While there will be many elements to consider, this guide summarizes important steps you may need to take when starting your own dental practice.
Get the right professional guidance
While your dentistry skills might be unparalleled, you will need much more than this to run a successful dental practice. No one person has all the necessary skills or experience, so it will be important to build a network of professionals to be your partners. This might include finance experts, legal professionals, HR professionals, administration or business management professionals, and marketing strategists.
Create a detailed business plan
It is essential that you have a detailed business plan in writing that defines what you want to achieve, what you need to help you achieve it, and how you will get what you need. Where will your practice be located? Is it an existing space, or do you need to build or refurbish it? What are your short and long-term goals, and who is your ideal patient? How much revenue do you expect to bring in on an annual basis? You should have this mapped out for the next few years.
Have an operations strategy
Once your top-level strategy is in place, you need to address your business’s day-to-day. Running a dental practice requires compliance with medical best practice, legal regulations, taxes, and insurance. You might also want to consider scheduling or CRM software that will help you easily manage your patient appointments and ongoing relationships.
Do not rush recruitment
The staff you hire to run your clinic will be its beating heart, even if you intend to be the only dentist initially. You will need somebody to run your reception, administration, and patient care and probably also need a dental assistant or nurse. Make sure you give yourself time to screen, interview, and trial staff so you do not regret hiring decisions later. You will also need to ensure you understand the processes of paying your staff as well as their legal entitlements to health insurance, vacation time, or other benefits. The Harvard Business Review has some tips on how to conduct an interview.
Research and source top-quality equipment
You want to provide high-quality service and maintain excellent levels of care, but you will need to invest in technology and dental equipment to enable you to achieve this. Deciding what types of equipment you need may require research and time as you will be faced with many choices, from understanding dental burs to choosing a treatment chair.
Start building your brand and marketing strategy
You will likely not be the only dental practice in your area, and you may not even be the only one on your street. So, how will you persuade new patients to come to you, particularly if they have been seeing someone else for some time? You will need to create a unique and engaging brand for your practice that stands out from the crowd. Consider what you can offer that others do not, the treatments you want to focus on, and what type of patients you want to attract.
You can create a brand and a marketing strategy, which, at its most basic, will need to include a website that is optimized for search engines and a strong social media presence. To ensure you give yourself the best chance of success, you may want to hire a marketing consultant to guide you in the right direction.