Is This Your Situation: Looking for a Formula for Dental Practice Success

Stress is common in the U.S. workplace. And it can be even more common when you add nervous patients to the mix. But that doesn’t mean your dental practice has to exist in a state of constant stress. With a few simple tips, you can run an efficient and successful practice to help both staff and patients feel at ease in your office.

1. Establish teamwork. Corporations have been working on a team model for decades, and there is no reason to reinvent the wheel when it comes to establishing a workplace culture for your dental practice. Encourage your staff to operate as a team working toward a common goal. Start by establishing a manual that provides details on protocol, policies and long-term goals. Use effective communications techniques to continually reinforce the company values. Lead by example. 
2. Stay on top of inventory. From big, expensive dental equipment to small-ticket items, a dental office runs on inventory. You risk losing money if you’re not implementing sound inventory procedures for your business. Place a responsible and detail-oriented staff member in charge of your inventory process. Avoid over-ordering and look for new and more efficient equipment or less expensive vendors when making purchasing decisions. 
3. Learn basic marketing. Even dentists need good marketing. People will always need dental services, but how they select their dentist may come down to how they learn about your practice and how that makes them feel. Marketing strategies such as direct mail, email and advertising can target the right people in your community. Address their fears of going to the dentist and offer them a solution. Grow your business to continuously bring in new patients. 
4. Be aware of expenses and billing. The bottom line of your dental practice is, of course, your profits. The best way to maintain a solid business practice is to constantly look at the money going out and the money coming in. What is your cost for medical supplies or labs? How do you bill your patients or insurance companies, and what is the rate of collections? Place people in charge of billing who can ensure that the right money is in the right place. 

Before you make any business decisions for your practice, talk to a financial expert today.