In this article by Dr. Pranav Agale is discussing the Life Cycle of a Dental Practice, the various problems associated with it and how you can solve those problems.
This amazing article will give you an insight into the professional life of a dentist and how they can be tackled.
LIFE OF YOUR DENTAL PRACTICE
PROBLEMS & SOLUTIONS
Hi there to all the amazing Dentists.
The career of a Dentist is very Dynamic. It goes through many phases of growth.
In one of the previous posts, we discussed in detail the various stages in the Life Cycle of a Dentist.
You can read the post below.
STAGES OF DENTISTRY – LIFE CYCLE OF A DENTIST | DENTALORG.COM
This business illiteracy has put many dentists in dilemma; leaving them unsure about their future. I believe this is one of the primary reasons why many dentists are unhappy with their practices. Let’s get into the details of “Lifecycle” of your practice Yes, its a long journey of cycle …
Coming back to the article in discussion – The Life Cycle of a Dental Career – Problems & Solutions
Problems & Solutions in the Introduction Phase
(Dental Practice Age – 0 to 3 years)
Because Network is the Net Worth!
Introduction stage is the beginning of your dental practice which lasts up to 3 years.
The average of the doctors in this class is between 24 to 30 years and most are unmarried.
Some young doctors are worried because of low patient footfall in initial days of practice.
Actually, they can take this as an opportunity & utilize the empty hours of practice to grow their network.
The idea of network building is not to get direct patients but to tell the world that “You Exist!”
Every practice will take its own course to establish, however, some tiny steps can act as the catalyst to curb this phase.
- Interact with as many people as possible around your practice and create rapport by talking about their interests.
- Keep your conversation generalized, however, if you get a chance, push about your profession in a softer way.
- Look to grow your online network by simply creating (free) business pages for your practice on Google and social media sites such as Facebook, Twitter etc.
- Post content in regular intervals once the pages are ready.
Here is another great article on this topic for your reading – How to Best Promote & Build Network in the Initial Days of your practice?
THE BEST WAY TO MARKET DENTAL PRACTICE | DENTALORG.COM
You all must have heard In simple words – its the world of promotion and marketing and whether you like it or not much of your success as a dentist is completely dependant on the marketing that you can do. This modern era in much more different that the professional clinical practice of a decade back.
Better Networking & Promotion can help you scale the 1st Stage of your Dental career when the patient flow is less – its the time where you put the foundation for the future.
Go to Next Slide for the Problems and
Solutions in the 2nd Phase of Dental Career
Press Next —->
Problems & Solutions in the Growth Phase
(Dental Practice Age – 2 to 12 years)
Growth stage lasts for 5 to 10 years and average age group is 26 to 40 years.
It is the best stage of your practice as the patient flow is good and you leap towards financial stability.
It’s the time many dentists get married and that increases the financial responsibility.
You can enjoy growth till the time you are competitive, ignoring this fact can sometimes damage the practice.
Bellow are few things that you can implement in your practice for being competent.
- Attend CDE programs/Courses regularly.
- Invest in new equipment.
- Start using practice management software for appointments.
- Learn about financial management.
- Doctors practicing in metros should also think in a direction to get Website for practice.
Problems & Solutions in the 3rd Phase – Maturity Phase
(Practice Age – 10 to 20 years)
Maturity is the stage where you enjoy the premium.
This stage lasts for 5-10 years & avg. age group is 35 to 50 years.
You are financially stable by this stage.
Its the phase when there is a a shift in your attitude towards Dentistry.
You are more self confident and
your goal is not just money but making your self more popular as a Brand !
The most valuable thing in maturity stage is “Time”.
You will have to literally spend money for buying your own time.
If you act smart then probably you won’t have to much efforts to save a lot of your time.
Bellow are few things that you can incorporate in your practice.
- Staff training right from doctors to front office staff.
- Work delegation to respective person.
- Investing in new equipments that can save you on your time.
- investing in technology so that you can manage with the changing times.
- Improving the work station in your clinic.
- Adding more safety features like CCTV and Patient Record softwares.
- Planning to start separate branches of your dental clinic.
This is perhaps the most productive stage for your Dental Career and a perfect time to start the expansion of your Single Dental Clinic to Multiple Clinics or Franchises.
Read a great article below that tells you how to start a Dental Franchise ?
HOW TO BUILD A DENTAL FRANCHISE
In my previous articles, I have discussed on merger of entrepreneurship and investment possibilities with Dentistry. Here I have come up with the new and trending opportunity of combining You can check out the 2 previous articles by me on Dental Economics here Then as a Dentist you can take a leap into franchise business.
Also, this is the most appropriate stage to think about hiring an agency which can help you to boost your dental practice. The professional help in the promotion can make a lot of difference.
See Next Slide for the Problems & their solutions Faced in Phase 4 of your Dental Career
Press Next —->
Problems & Solutions in the 4th Phase – Saturation Phase
(Practice Age – 20 to 25 years)
By this age you practice slowly starts to enter a saturation phase. If you were smart in the 3rd Phase (Growth Phase) and worked hard to establish a Dental Franchise Model/Multiple clinics Model, then you will be much more relaxed as the franchise model will keep giving you the financial benefit even after you enter the Saturation Phase!
If you want to know how to Start A Dental Franchise then you can read this article
HOW TO BUILD A DENTAL FRANCHISE
In my previous articles, I have discussed on merger of entrepreneurship and investment possibilities with Dentistry. Here I have come up with the new and trending opportunity of combining You can check out the 2 previous articles by me on Dental Economics here Then as a Dentist you can take a leap into franchise business.
Anyway coming back to the problems of the saturation phase –
The most common complaint in this stage is “stagnated income”. In order to overcome this situation, you should first try to identify the problems. Some basic reasons that results in stagnated income can be, Decreased patient footfall, Low treatment charges, Absence of high-end treatments or Combination of above problems. Solutions can be very simple to this problem.
- Identify the problem factors.
- Once you identify the problems; try to understand why the problems are occurring.
- Evaluate all the possibilities to overcome them.
- Make a strategy to get resolution and have deadlines for every task.
- Spend more time in your practice as it can definitely improve your chances to find the solutions.
The Final Phase of Your Dental Career
Problems & Solutions in the 5th Phase – Decline Phase
(Practice age: 25+ Years)
You can’t practice dentistry with stethoscope and green cloth.
It is really difficult to run a successful practice without good clinical skills.
Aging results in health issues such as a backache, hampered vision or trembling hands etc. which sometimes makes the operator skills questionable.
When one can’t work because of such unavoidable factors, it’s time involve fresh blood in practice.
Nobody has a magic stick that can get a potential doctor like you for your practice in an overnight.
But at this point, you have two Priceless things in the Dental career
Wisdom + Experience
If you have worked & planned properly in the growth phase of your dental career – setting up multiple dental clinics or a dental franchise then you can now play the role of a manager/CEO/Guide who guides the young dentists working in his/her clinic.
So, now you may not be physically very fit to carry out rigorous dental treatments, but you will still use your skills, be a mentor, run your multiple clinics & make a very decent and respectable earning!
You will have to take efforts to groom young doctors by sharing your knowledge and experience which will keep the practice going, whereas you can take the charge of patient consultation and clinic management.
Young dental surgeons are always in the need for guidance. after completing the graduation they will be confused with so many dental subjects and how to use them in the clinical practice.
It’s the same cycle all over again. If you look back one day you were a confused young fresh dental graduate with lots of dreams and lots of confusions. Now you will have the power to guide the next generation young dentists in their career.
These are some of the important points which can bring a phenomenal change in you practice, however there are further deep aspects to every stage, which I’ll share with you in my upcoming posts.
Hope you got some valuable insights into the 5 stages of Dentistry and also to the problems in the 5 stages and their solutions. See you again soon in another post.
If you want some more insight, then read this article – 5 Stages in the Career of a Dentist! – below.
STAGES OF DENTISTRY – LIFE CYCLE OF A DENTIST | DENTALORG.COM
This business illiteracy has put many dentists in dilemma; leaving them unsure about their future. I believe this is one of the primary reasons why many dentists are unhappy with their practices. Let’s get into the details of “Lifecycle” of your practice Yes, its a long journey of cycle …
This post is Written By Dr. Pranav Agale.
Director of Viva LifeCare Pvt. Ltd. and DentistFriend.com is his brainchild.
He is a MBA & holds experience in branding and marketing.
