LIFE OF YOUR DENTAL PRACTICE – PROBLEMS & SOLUTIONS
Life of your Dental Practice - The stages with the associated problems and their solutions. Success in clinical practice depends of solving the problems and working with the correct plan in all the stages of Dentistry.
Problems & Solutions in the Growth Phase
(Dental Practice Age – 2 to 12 years)
Growth stage lasts for 5 to 10 years and average age group is 26 to 40 years.
It is the best stage of your practice as the patient flow is good and you leap towards financial stability.
It’s the time many dentists get married and that increases the financial responsibility.
You can enjoy growth till the time you are competitive, ignoring this fact can sometimes damage the practice.
Bellow are few things that you can implement in your practice for being competent.
- Attend CDE programs/Courses regularly.
- Invest in new equipment.
- Start using practice management software for appointments.
- Learn about financial management.
- Doctors practicing in metros should also think in a direction to get Website for practice.
Problems & Solutions in the 3rd Phase – Maturity Phase
(Practice Age – 10 to 20 years)
Maturity is the stage where you enjoy the premium.
This stage lasts for 5-10 years & avg. age group is 35 to 50 years.
You are financially stable by this stage.
Its the phase when there is a a shift in your attitude towards Dentistry.
You are more self confident and
your goal is not just money but making your self more popular as a Brand !
The most valuable thing in maturity stage is “Time”.
You will have to literally spend money for buying your own time.
If you act smart then probably you won’t have to much efforts to save a lot of your time.
Bellow are few things that you can incorporate in your practice.
- Staff training right from doctors to front office staff.
- Work delegation to respective person.
- Investing in new equipments that can save you on your time.
- investing in technology so that you can manage with the changing times.
- Improving the work station in your clinic.
- Adding more safety features like CCTV and Patient Record softwares.
- Planning to start separate branches of your dental clinic.
This is perhaps the most productive stage for your Dental Career and a perfect time to start the expansion of your Single Dental Clinic to Multiple Clinics or Franchises.
Read a great article below that tells you how to start a Dental Franchise ?
HOW TO BUILD A DENTAL FRANCHISE
In my previous articles, I have discussed on merger of entrepreneurship and investment possibilities with Dentistry. Here I have come up with the new and trending opportunity of combining You can check out the 2 previous articles by me on Dental Economics here Then as a Dentist you can take a leap into franchise business.
Also, this is the most appropriate stage to think about hiring an agency which can help you to boost your dental practice. The professional help in the promotion can make a lot of difference.
