A guide to launching a dental practice

Ads Thanki – When should you start your own dental practice? – part one

Opening a new dental practice involves crucial decisions – Ads Thanki shares a comprehensive timeline to help with the launch.

Unsure about the optimal timing for each step in your dental practice launch? Here’s a timeline detailing when to complete various tasks, including smaller steps in between and final pre-opening activities leading up to your grand opening.

As previously mentioned, feel free to adjust the order of steps to align with your specific needs. Each step is placed where most practice owners typically find it suitable.

Zero to 12 months before opening: steps one to three

Develop your practice philosophy and detailed business plan
Create a budget, estimating major expenditures
Decide on a potential partner
Secure the services of a dental solicitor, finance broker and a practice broker
Choose a general area for your practice
Evaluate locations with your broker.

Seven to nine months before opening: steps four to five

Define your space and layout requirements
Narrow your site search to one to three locations
Obtain contractor estimates for remodeling
Compile a list of equipment and major expenditures
Begin reviewing software systems
Assess lending institutions
Create a preliminary loan package
Get bids on leasehold improvements.

Six to seven months before opening: steps six to seven

Finalise your loan package
Choose and confirm the site after legal and zoning review
Sign the lease
Develop your floor plan and equipment layout
Select a contractor and initiate remodelling.

Five to six months before office opening: step eight

Develop an office policy/procedure manual
Set practice hours
Finalise interior finishes
Decide on software for various needs
Review personnel requirements.

Four to five months before office opening: steps nine to 10

Consult dental SEO firms for a marketing strategy
Explore telephone and answering systems
Test patient management software
Obtain a telephone number
Review state dental regulations
Obtain provider numbers
Create a business website.

Three months before office opening: step 10

Monitor leasehold improvements
Apply for licenses and permits
Apply for a tax ID number
Acquire dental society memberships
Apply for staff privileges
Place equipment and supply orders
Set up utilities.

Two months before office opening (final pre-opening steps)

Advertise staff positions
Finalise dental fee schedule and payment policies
Make arrangements for laboratory work and pharmacy services
Arrange janitorial, maintenance and uniform/linen services
Join a local credit union or bank
Set up credit card payments
Apply for insurance provider plans.

One month before office opening (final pre-opening steps)

Monitor completion of leasehold improvements
Install and test equipment and computer systems
Hire and train employees
Set soft and hard launch opening dates
Announce opening on website, online platforms and print publications
Conduct necessary inspections
Open your dental practice for business!

Opening a new dental practice involves crucial decisions. Ensure careful planning to avoid costly mistakes and seek advice from contacts in the dental industry for valuable insights.

Essential tips

Running a dental practice is a multifaceted role. Consider these pointers:

Cultivate an intentional practice culture
Select team members with the right skills and attitude
Make training an ongoing priority
Differentiate your practice from competitors
Automate tasks with practice management software
Prioritise a positive patient experience
Communicate effectively with your staff
Embrace digital marketing for efficient campaigns
Choosing the right team and partners is key to successful practice management.

Tips from seasoned dentists

Avoid upfront payments for construction/interior design; negotiate milestone payments with contractors based on completed work
Tailor marketing and advertising campaigns to your target patient base; consider the preferences of demographics, such as young families, to align with their needs
Regularly revise your business plan and procedures, adapting based on effective strategies and lessons learned. Continuously assess processes, systems and employee performance for optimal adjustments that contribute to a thriving practice
Prioritise patient retention over acquiring new patients; enhance retention through a welcoming atmosphere, exceptional patient experiences and a system for re-engaging those who missed or cancelled appointments.

We trust that perusing this post has provided valuable insights into the steps involved in launching your dental practice. Despite the challenges, running your practice can be fulfilling as you enjoy the autonomy of being your own boss while engaging in a profession you love.

Best of luck on your journey!