Don’t Build A Dental Office- Build A Successful Dental Business! THE ULTIMATE SUPPORT PAGE.
A dental business can be a profitable business. As a dentist or an investor, owning a dental office is the first step to start this journey. Buying an existing dental office might be an easier and faster way, although with the current high prices for existing practices, building a brand new dental office is another good option to get in this business. Here we will discuss how to build a successful dental business.
In order to build a new dental office successfully, there are many things that need to be considered and plan carefully. Here is an article, Complete Dental Office Step By Step, which can give you ideas of what you should think about.
As a high ticket investment, it would be better to know numbers related to the business, such as operation costs, etc. Here is a video, Cost Control for Maximum Profit: Money and Dentistry with Real Numbers, which can show you that info FREE!
In this webinar, you would learn the following :
- Understand the real cost of dental procedures when you factor in receptionist time, dental assistant time, rent, and supplies, and how you can be in the top profitability quartile.
- Learn the expenses-to-gross ratios in the most and least efficient practices according to the latest data from R. K. HOUSE.
- Preview the future of dentistry with an oversupply of dentists, older patients with no insurance, higher taxes on working patients, and dental fees that will not grow at the rate of inflation.
- Understand the challenge for new dentists: Less bargaining power for associates, competition from corporate dentistry, and less retained earnings.
- Learn how the fact that most dental practices are sloppy and inefficient allows you to compensate for an oversupply of dentists by making your practice more efficient.
- Learn how many procedures highly productive dentists perform per hour, and how working faster will boost revenue without affecting expenses.
- Learn whether having very expensive office decor or moving into a high rent area can make your practice more profitable.
- Learn the current cost of supplies per procedure, what factors into these costs, how saving $2 per procedure in material costs could save you $27,000 a year, and how negotiating lower supply costs through dentist buying groups can keep your practice profitable in hard times.
- Learn the average billing per patient recall visit, and how higher billing per patient recall visit will affect your practice growth.
- Learn how your practice compares with data on the current average net income from operations for dental practices, and review an itemized list of the fixed and variable costs.
Now that you have learnt the real profit variables in dental office operation, if you are up to challenge, then the next important point to consider is where to locate your new practice. Check out this webinar: How to choose an OUTSTANDING location for your clinic. Mr. Steve Babor will share his 39 years of commercial real estate experiences with you.
In this webinar, you will learn the following :
- Learn what defines an outstanding location for a new dental clinic.
- Learn how traffic patterns and shopping patterns impact patient flow to your clinic.
- Learn how to avoid fringe locations that could limit your growth potential.
- Know what rental costs to expect for your clinic and how to take advantage of the current economic downturn.
- Learn what to look for in a lease agreement for your new dental clinic.
- Understand the impact that COVID-19 is having on the retail landscape in terms of vacancies and change in the mix of tenants.
- Learn whether it is better to be in a mall or outside a mall and how to identify the good co-anchor tenants for your clinic.
After getting a good spot, what’s the next? Design and construction, of course！Below are two incredible webinars that will teach you a lot of things you might not know.
1.Dental office building trade secrets presented by Raimund Krulls. He has built more than 500 dental offices. By this video, Raimund will discuss the process of building a new dental clinic and how to take advantage of the current shakeup in the commercial real estate market to maximize the value of your investment.
This includes a review of the steps from signing the contract to the completion of the office project. He explains what can go wrong, how cost overruns can occur, and how to chose the equipment and office layout wisely to maximize the use of the available space and ensure successful dental business with low operating costs.
2. An insider’s guide to building a dental office which was presented by Joseph Hui. In this video, Joseph Hui gives a contractor’s perspective on building a dental clinic. He discusses the critical design and layout considerations needed to produce an efficient workspace. He reviews the physical space requirements based on maximizing efficiency and optimizing the provision of care. He reviews the office construction process from the initial meeting to the design proposal, selecting finishes and colors, building walls and floors and interior finishes, installation of millwork and dental equipment, up to final inspection by the city, and your opening day.
To get started with your dental office, one of the key choices is equipment, and dental equipment varies widely in cost and performance. Equipment sourcing and purchasing also would take a lot of time. In order to save your time and money, here is a recommendation of a premium four-operatory equipment combo for your reference.
Congratulations! Now you should know how to build your new dental office from scratch. Here is a new clinic case study that will show you how this brand new dental office had 120 new patients in the first month of operation!
As we mentioned at the beginning, buying an existing dental office is also a fast way to start the dental business. Normally, the old dental office needs to be upgraded or renovated in order to run the business smoothly. Regarding these upgrading or renovations, we strongly recommend considering sterilization center cabinets and X-ray equipment.
Check this article, how to choose the right X-ray unit for your practice. You will learn how to get the right equipment at a reasonable cost.
Also, check details of this IPAC Compliant Sterilization Center which will show you how to make sure your sterilization center to match the government’s policy.
Finally, you can always reach us at 416-901-6894 or [email protected] to discuss your new office project. Our project manager, Raimund Krulls, could offer 30 minutes free consultation!