5 Stages in the Professional Life cycle of a Dentist
Learn about 5 stages in the professional life cycle of a dentist. We are taught dentistry but no one teaches us the business cycle of Dental Practice. This lack of knowledge regarding the business aspect is hurting the dentists in the long run.
Stage 3 of Dentistry: The Maturity Phase
(Practice age: 10-20 Years)
Maturity is the stage where you enjoy the premium.
This stage lasts for 5-10 years & average age group is 35 to 50 years.
- You are now among established and long standing Senior Dental Practitioner in your locality.
- Your brand value is at the highest with patients eager to be treated by you.
- At this phase, you will see many other young dentists entering into the 1st phase of the Dental Career.
- But your confidence in your skills and brand value will be at the highest.
- You are financially stable by this stage and you will appreciate 10%-20% rise every year but it doesn’t increase like it was there in the growth stage.
In short, you are financially stable, confident and less psychologically dependent on patients.
You don’t seek patients anymore.
In fact, patients seek you.
You are under no compulsion to adjust to the whims of the patients.
In short – You are no more dependent on patients.
You will also observe a change in the approach towards dental practice. Of course, you work to earn but money isn’t your priority. You are seeking peace and less of the stress that you faced in the initial days of your practice.
Your priority becomes “Time” for your family which stops you from entertaining every patient.
This stage gives you the confidence that every dentist seeks from the beginning of his/her career.
You are now confident about the brand recognition of your dental practice.
You get relatively rigid about the treatment charges and is least bothered about the competitors.
From the introductory phase till the maturity phase there is a gradual increase in the graph of your dental practice. You are about the complete the most productive years of your dental practice in terms of the hard work you can put, both physically, mentally & emotionally.
