So you’re looking to start your own dental practice, congratulations! There’s a lot more that goes into the business than you may know though.
Starting a dental practice can be a complex process, but we’re here to help. This checklist is full of the key steps to take when opening your business:
1. Develop a business plan
Like any new company, you’ll need to start by developing a comprehensive business plan that outlines your goals, vision, target market, services offered, and financial projections.
Think about your business structure and consider how much money you’ll earn, who will manage the office, and how the dental practice will be managed.
Do some research into local competition. This will help you understand the needs and preferences of your target patient demographic. It can enhance your chances of developing a unique selling proposition and differentiate your practice from competitors.
2. Choose a location
Location is crucial when starting a dental practice. Look for a location that is accessible, visible, and has a strong potential patient base.
Are you in an area with a higher demand for dentistry services? Some patients may be willing to drive further if they are already established with a dentist, so if you’re new you should consider being in an area that’s easily accessible.
Select a location for your practice that has good visibility and is in a competitive area. Check zoning regulations and lease agreements before finalizing your decision to be sure that you can practice dentistry at that location.
3. Obtain necessary licenses and permits
Apply for the necessary licenses and permits required by your state and local government to operate a dental practice. This may include dental board certifications, business licenses, and tax registrations. Make sure to research your specific state’s licensing requirements before moving ahead with opening your practice.
You’ll also need to obtain insurance coverage for your practice, including liability insurance, property insurance, and workers’ compensation insurance.
Keep an eye on changes to laws or licenses, as the business owner it’s your responsibility to stay up to date with these changes.
4. Set up your office space
Purchase or lease dental equipment, such as chairs, lights, X-ray machines, and sterilization equipment. You’ll also need to set up your office space with furniture and other equipment, such as computers and software, telephones, and security systems.
We recommend investing in high-quality dental equipment that will last for years and deliver consistent results. Choose equipment that is efficient, reliable, and designed for the specific needs of your practice.
You’ll also need tools such as gloves, handpieces, and other day to day equipment used during exams. If you want to find the best prices on these, look into a Group Purchasing Organization (GPO).
5. Hire staff
Recruit and hire staff for your practice, including dental assistants, hygienists, office managers, and administrative staff. Ensure that they are trained and competent in their respective areas.
Your staff is the backbone of your practice. Hire and train a team of skilled, compassionate professionals who share your values and vision for your practice.
You’ll need technology to streamline administrative tasks, such as scheduling, billing, and record-keeping. By freeing up staff time, you can focus on delivering high-quality patient care.
Kleer combines an advanced, cloud-based platform with personalized support to ensure business owners have everything they need to manage their practice.
6. Develop policies and procedures
Develop policies and procedures for your practice, including patient intake, scheduling, billing and collections, and infection control measures.
Ensure that your policies and procedures comply with applicable laws and regulations.
Manage your finances effectively to guarantee the financial health of your practice. Consider working with a financial advisor to develop a budget, manage cash flow, and make informed financial decisions.
7. Make a marketing plan
This is a step some dentists forget about when opening their practice, marketing!
Draw up a marketing plan to promote your practice. Budget for a professional website, create social media accounts, and regularly post relevant content to attract potential patients and build your brand. Marketing is essential to attract new patients and grow your practice.
Your marketing plan should include online and offline strategies, such as social media, email marketing, and local advertising. Build a strong online presence, build brand trust, and bring in more patients.
In today’s digital age, having a strong online presence is essential for growing your business.
8. Establish relationships with suppliers, vendors
Establish relationships with suppliers and vendors for dental supplies, laboratory services, and other needs. GPOs like SourceClub can help dental organizations save money on equipment and service by negotiating deals and contracts with vendors.
Keep up-to-date with the latest trends and best practices in dentistry. Attend conferences, seminars, and continuing education courses to enhance your skills and stay competitive in the industry.
9. Ensure compliance with regulations
Ensure that your practice complies with all applicable regulations and guidelines, including HIPAA privacy and security rules, OSHA regulations, and infection control guidelines.
It’s also crucial to follow the guidelines and regulations for medical waste disposal.
10. Prioritize patient care
Last but not least, patient care should be your top priority. Focus on providing compassionate, high-quality care to each patient, and strive to exceed their expectations.
Building strong relationships with your patients is essential to the success of your practice. Take the time to get to know your patients, address their concerns, and provide personalized care. Patients are more likely to return to a practice where they feel comfortable and well-cared for.
Consider offering flexible payment plans, extended hours, and other value-added services that cater to your patients’ needs.
Take the Leap of Faith
Starting a dental practice can be a challenging and rewarding experience. Use this as a guide to determine whether or not beginning your own practice is viable for you. Don’t be intimidated by the idea of becoming an entrepreneur.
By following these tips, you can increase your chances of success and build a thriving practice that delivers excellent patient care.
