Tips for New Dental Practice Owners
We are introducing Dr. Ava Kamenshchik, a board-certified orthodontist in New York. She will be sharing her experience for new dental practice owners and providing tips she learned along the way.
1. How can I get new patients in the door quickly?
Tap into your existing patients, they are your real practice ambassadors. Don't forget social media and ad campaigns from Facebook, Instagram, and other social media platforms. You should be tracking where your existing patients came from (referrals, internet, advertisements) and be able to use that to work out your best return on investment.
2. How do I hire a team to help support my goals?
Attitude is EVERYTHING! Hire for attitude, not experience. You need to have a shared vision and shared responsibility with your staff. They should be incentivized to share your success. Once they have a stake in the game, you will see a difference in their actions.
3. Should I maintain an associate position while starting my new practice?
While you don't want to spread yourself too thin, there's a lot to learn about practicing in the real world. Maintaining an associateship can afford you the opportunity to see different ways to practice clinically and to operate as a business owner. You can see what systems you want to implement into your own practice and how you can improve them. It may take some time to find your balance between being an employee and an employer. If you start to see your own practice suffer, you may want to consider cutting back hours as an associate.
4. How do you think COVID-19 will affect future new offices?
The dental community has been tremendously affected by COVID-19. Although infection control has been integral in the safe practice of dentistry, we are now forced to rethink our new office designs and operations. This includes clinical treatment rooms, waiting areas, staff break areas, incorporating cash-less payment systems, virtual patient check ins, and other precautionary tactics. Private treatment rooms are now preferred to an "open bay" concept in many instances. The concern over the use of aerosol emitting procedures would warrant the need for new offices to be designed with an increased distance between patients. In addition, the waiting areas may need to be reconfigured to enable physical distancing. Ventilation is another aspect of office design that may need to be engineered properly.
5. What is the best way to secure funding for a new office?
First and foremost, take a look at your own financial fitness. Once you have established the desire to secure outside funding for your new venture, do your research! Local banks may end up providing you with the best rates. You may also consider forming a partnership and pooling your financial resources. Don't be afraid to ask your professional colleagues about their experiences as well. Talking candidly with your peers can help save you a lot in the long run.
Thank you Dr. Kamenshchik for sharing your tips with us! If you would like to share your experience, comment below!
By Dr. Anand, DDS | ultralightblogs@gmail.com