Build skills and strategies to develop a world-class dental practice
You’re in good company if you’ve ever found yourself thinking, “I wish I knew how to grow my dental practice.” Understanding what makes a dental practice successful can be complicated, given the numerous moving parts of managing any medical practice. Whether you’re just starting out or seeking information on how to build a dental practice that’s already up and running, it’s likely you’ve experienced the disconnect between medicine and business. You fell in love with dentistry, but the business component of growing your practice leaves you at a loss. That disconnect feeds many medical professionals’ disillusionment, leaving many to wonder if their love of dentistry is compatible with what it takes to run a successful company. You must develop your business acumen so you’re able to develop the world-class dental practice you dreamed of in the first place.
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What makes a dental practice successful?
What makes a dental practice successful? Understanding how to build a dental practice starts with your knowing ideal customer. You must deliver top-notch dental care that ensures the well-being of every patient you see and attracts profitable patients to you. Keeping your patient at the center of every business decision is your key to success. When your patient informs every choice you make, from your staffing decisions to your marketing strategies, you’re building a solid foundation for business growth. Just like any other business, a dental practice must meet its bottom line. Since it’s your customer who ultimately brings in revenue, prioritizing the customer’s experience forms a bedrock that will prepare you for the long haul. As your patients become raving fans of your product, they’ll create a pipeline of referrals that will set you apart from the competition.
How to build a dental practice
Learning how to grow your dental practice means working on your mindset and your business skills. Here are time-tested strategies for understanding what makes a dental practice successful.
1. Set your practice apart from the competition
Growing a dental practice is a matter of branding. What does your ideal customer want, and how are you prepared to deliver? Identify your unique competitive advantages and amplify them in your sales and marketing tactics. Utilizing a business coach for dentists may also be an important consideration for taking your practice to the next level.
2. Attract and retain top talent
Every patient who enters your office feels your company culture. When your staff are content and provided for, their contentment shows in every customer interaction. Taking the time to create a healthy office culture is as much a part of learning how to build a dental practice as is learning dentistry.
3. Expand your services
To understand what makes a dental practice successful, you must be able to reach your target market. One of the most effective ways to do this is to expand your services so that patients can receive any treatment they need from your practice. If you’re limited in what you can offer by the size of your office, your staff size or another barrier, do what needs to be done to expand.
4. Offer flexible financing
When patients have flexible financing options, they’re more inclined to accept your treatment recommendations and return for follow-up care. You’re also able to reach a wider range of patients when you accept numerous types of payment. In addition to insurance, consider accepting cash, credit and debit payments so patients can access the care they need.
5. Facilitate seamless referrals
Word-of-mouth referrals are the gold standard of what makes a dental practice successful. To master how to build a dental practice, make it easy for patients to refer their friends to your practice. Be proactive in asking for referrals – don’t leave it to your patients, who are busy with their own lives. Offer a wide range of referral strategies, including in-office referral cards, targeted mailings and online reviews. You can even incentivize employee referrals to get a leg up on growing your dental practice.
6. Create balance
When you’re learning what makes a dental practice successful, it’s tempting to get caught up in the logistics of running a business. Or you may find yourself headed in the other direction, getting caught up in patient care at the expense of the more technical aspects of business management. It’s completely natural to feel out of balance to start. As you get your footing learning how to build a dental practice, you’ll become more confident in creating balance on the job.
7. Master your mindset
Being a dentist is a high-skilled, respected profession, but it’s not without its difficulties. When you find yourself struggling, you may wonder: “Will learning how to grow my dental practice always be this hard?” When you find yourself sinking into self-doubt, it’s time to master your mindset. You must prime yourself for success by taking control of your emotions. Mindfulness meditation is an excellent way to build self-awareness into your daily routine so you can replace self-defeating thoughts with empowering ones. When you take control of your thoughts, you can truly accomplish anything.