Essential tips for dentists starting their own practice
Deciding that you want to start your own dental practice is a truly liberating feeling, but what goes next once you have had the initial bright idea? Because we know how easy it can be to get lost in the details, we’re going to walk you through everything you need to know to get things up and running.
And if you’re a patient looking to get some insights into how the industry works, we’ve written this guide for you, too. Let’s dive in!
Start with market research
Getting to know the local area that you plan to operate in is what building a business is all about, because if you’re in the wrong spot, there’s little you will be able to do after the fact. Surveying local people about the facilities they want is one way to do it. Another is to mark on a map the other dental practices and cosmetic clinics within a 20-minute drive of your intended location. You can then factor in the size of the local population and the age distribution to see whether or not the location is viable.
Build a costed business plan
Part of securing funding from a bank or outside investor is about showing them how you plan to use their money to generate a profit. A business plan that is fully costed is the way to move from an initial bright idea to a streamlined budget that promises to deliver value for money. There will always be things that you will have wished you had done better in hindsight, so having contingencies in place and headroom built into your budget is what it’s all about here.
Be strict with your budgeting
Once you secure funding, it’s easy to feel like you have everything you need to fill up your practice and get it looking exactly how you like, but that shouldn’t be your focus. Treat it as an accounting exercise first and foremost, and you will be able to ensure that each and every penny is properly accounted for. Because your practice needs to operate like a business if it is going to turn a profit, you need to start running it like one during the initial setup and fit-out period.
Advertise your new location
You want to generate plenty of buzz around your new venture long before you open your doors for your first patient; otherwise, no one will know who you are. Something as simple as a large sign on the outside of the premises and a series of Facebook posts in local community groups is often a good start. Be proactive, get creative, and think about how you can talk to the locals on a personal level, and you’ll be amazed at what you can achieve on a shoestring.
Register your new practice
There are rates and licenses you need to be compliant with, and having a local solicitor as part of your team during the early stages could prove invaluable. Ask them to keep you ahead of the curve when it comes to the legal side of things, and you’ll be able to focus on what you do best without costly headaches coming your way in the near future.
Make hiring talent a priority
You want to be able to have a team in which everyone is pulling in the same direction, and that starts with the hiring process. Making sure that they have the right skills and the right attitude to fit your culture is the best approach to take. Once you feel like you have found the right people, get them trained up on things like your new equipment and your practice’s patient management software.
Build industry contacts
Practice managers will need to build contacts with suppliers of equipment, materials, and consumables. The best way to do this is to contact a nationwide supplier who can help with everything in the dental field, whether it be performing a specialist glass ionomer filling or simply making sure that your staff have enough PPE. Teams like Kent Express have decades of combined experience when it comes to making sure that practices across the UK are always ready to do what they do best.
Proactively communicate with patients
Following up with patients and sending reminders about their next routine appointment will make a world of difference when you want to deliver the positive patient outcomes that will be the backbone of your practice. The beauty of this approach is that it has been proven to work right across the UK, provided you focus on getting the basics right.
Step back, take control, put the fundamentals in place, and your new dental practice will be thriving before you know it.
