7 Tips to Have in Mind Before Starting a Dental Health Business

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Running a successful dental health business is usually a great idea. Sure, the field seems like it should be saturated, yet, no matter how many dentists there are, it always seems like there’s room for more. Now, being a dental business owner puts you in a peculiar situation. You’re an equal part of a craftsman as a doctor. You’re also an equal part of a business owner and a healthcare provider. Moreover, this is a field that heavily relies on your ability to acquire return patients. To do so, you need to make the move that will effectively diminish dental patient attrition. With this in mind and without further ado, here’s what you should focus on.

1.      Improve your scheduling system

Scheduling is the most essential administrative aspect of running a health-related business. First of all, it ensures high customer satisfaction, seeing as how nothing makes a nervous patient has a bad time more than spending too much time in the waiting room. Moreover, a proper scheduling system will increase your profit, seeing as how it will give you the minimum downtime. The most important thing to keep in mind, however, is the fact that you can’t just have patients back-to-back. The cleanup, preparation time, and some leniency for delays are essential in any valid scheduling system.

2.      Focus on your hiring process

When hiring, there are a couple of things you may want to take into consideration. First, the skill is essential but the right personality is just as important. You see, people going to a dentist makes some people uneasy.

Next, you need to understand that while dentists and dental assistants are the backbones of your business, they’re not your entire staff. Front desk staff is just as important, as well as the administrators. If you have dental managers, your dentists can focus on their part of the job. This is one of the best ways to optimize your workforce and your resource management, without sacrificing the quality of the service you’re providing.

3.      Think about expanding your work hours

A major part of your dental attrition comes from the fact that people can’t get to you in time. Unless you’re working on the weekends, people would probably have to rush from work to get to the appointment, seeing as how some people can’t get a day off as easily. So, you can move your work hours a bit or have more than one dentist work a different shift. Remember, inconvenient work hours are a systemic problem that will cause issues for as long as your practice is running. You need to do something about it as soon as possible.

4.      Specialize

Being a dentist gives you so many options for specialization and this is an opportunity that you need to take. You see, instead of just being a dentist, you can specialize as an orthodontist. You should go even further and specialize as an orthodontist for kids or adults. While the difference is not that great, the truth is that specialization gives you numerous advantages. For instance, you will be seen as a higher authority on the subject matter and be able to charge more for your services. The concern that many have is forsaking a part of their potential patient pool (who don’t require orthodontic services). This, however, is never a problem in practice.

5.      Consider registering as LLP

The LLP (limited liability partnership) is a unique form of LLC which is designed for specialists like accountants, doctors, lawyers, and dentists. It’s designed to provide practice as a whole from malpractice claims. Even the most caring dentists make mistakes and you want to ensure that this kind of risk is contained. It’s just a safety precaution and a contingency plan that you hope you’ll never need.

6.      Always keep 90% of your patients booked

The best way to keep your business up and running is to keep 90% of all your patients booked at all times. What does this mean? Well, you can schedule the next appointment as they’re leaving and have your front desk staff note them down. Then, you can have the front desk staff send follow-up (confirmation) emails, direct messages, or even make calls to remind and confirm their appointment. This is also why it’s so important that you hire the right people (temperamentally) for the job.

7.      Consider making your payment plan

What if the insurance that your customers are on doesn’t include the services that you’re providing? Does this mean that there’s nothing you can do about it and that you’re destined to lose the customer in question? Not if you play your cards right and make your payment plan. This way, you can arrange a situation in which your patients can pay you directly, albeit in installments. They get the treatment that they need and they get an income you would otherwise miss out on.

In conclusion

The dental health industry is one of the most secure markets even in a recession. This is why, regardless of the current state of the economy and future economic uncertainty, starting a health-related business is never a bad idea. Still, the fact that you have a good idea is not an instant ticket to success. What you need to understand is that it’s never a plan that’s bad but the execution that falters. With the above-listed tips in mind, you might just be able to avoid this unfortunate outcome.

 

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