What to Know About Starting a Dental Practice

What to Know About Starting a Dental Practice

April 23, 2019

Are you a dentist thinking about striking out on your own? Here are things you need to consider when starting your own dental practice.

Determine & Understand Your Budget

Starting a dental practice can be very expensive. To help you understand what kind of expenses you’ll need to make as the owner of a new practice, speak to other people who have done this before you, talk to a dental specific lender and a dental equipment specialist, and develop a business plan. Ask detailed questions to get an idea of what your upstart costs will be, as well as the costs of daily operations, marketing, staffing, and more. Be sure to budget for any unforeseen costs as a safety net, because you never know what life is going to throw at you.

Find Your New Office

If you’re looking at office spaces in a new city or town, research the area thoroughly to understand how your office would fit in. You’ll want to ensure that it’s accessible, close to your demographic of patients, within your budget, and somewhere that’s not already saturated with dental offices. Once you think you’ve found your location, consult dental-specific building contractors to see how much all of the renovations will cost and what your timeline will be like.

Buy Supplies & Equipment

Consult your dental equipment specialist to help you buy everything you will need to run a successful practice. From furniture to software to supplies, you could use their guidance on where to go and how to find the best prices, training, and financing for the equipment and any dental technology you may want to invest in. Keep in mind that you may not be able to afford all the absolute latest and greatest technology when you first start out–get the essentials but wait to buy all the extra bells and whistles until you have a steady stream of patients.

Figure Out Your Hiring Plan & Find the Right People

You can’t run a dental practice without front desk staff and dental hygienists. Figure out how many people you’ll need to hire and make sure you have enough room in your budget to pay them appropriately, provide health insurance, time off, and more. Once you’ve decided how many people to hire you can start your candidate search.

Find Patients

You’ll also need a legitimate and cost-effective marketing plan to get new patients into your practice. Invest in a beautiful, informative website, and advertise in local publications, on TV and radio, and online, including on social media.

Get All the Legal Requirements Out of the Way

You’ll need to handle the legal aspects of starting a dental practice as soon as possible, since it can take months to get your credentials for your practice to accept insurance, both private and government. You will also have to ensure you’re licensed with the state, and registered with the DEA. You’ll need to comply with regulations in your area, get a provider identifier number, choose a legal structure for your business, and register for local and state taxes.

Stay Calm & Carry On!

It may be a lot of work, but starting a new dental practice can be incredibly rewarding. Get in touch with our team for all the legal advice you need to make your dental startup a glowing success.

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