Brits are looking after their dental health, with more frequency. NHS dentists treated 22.1 million adults in the 24 months ending in June 2016. In a single year, these dentists delivered 39.7 million courses of treatments. And these figures do not count patients and treatments in private practice.
Clearly, dental care is big business. Opportunities are abundant if you start your own practice. But like all businesses, you may miss out on favourable outcomes without the right strategies. Your goal is to maintain a balance between providing superior patient care and achieving good profits. How do you do it?
The Business Plan
Your training as a dentist, whether in school or continuing education, may not address the business aspects of private practice. You have the option to hire a management team to run the clinic, or you can take up a business course that will help you create a blueprint for a successful practice.
Your business plan determines your goals and course of action on the following:
- Attracting patients
- Managing competition
- Controlling costs
In addition to these, you’ll also need to determine your startup costs and areas for investment. Do you prioritise hiring professional hygienists and nurses, or acquiring innovative dental equipment? You also need to know what services your market will need. Is there more demand for restorative dentistry or cosmetic treatments in your clinic’s location?
Whether you decide to focus on cosmetic dentistry or restorative dentistry, using the latest dental technology can give your practice an edge. The newest equipment and tools can help you offer minimally invasive treatments with accurate results. In terms of providing dental products, from removable to fixed dentures, you can source from a reliable dental prosthetics company.
Your clinic does not have to do everything to offer everything to patients. Outsourcing some aspects of your business can alleviate costs without sacrificing on the quality of care you intend to provide.
Finally, maintain a practice that sufficiently meets all the existing standards. Make sure your dental practice complies with policies from systems regulators and professional bodies.
Dental care is big business. But you need to have the right plan to benefit from opportunities. Look after your patients without neglecting the business, and your dental practice can succeed.