If you’re interested in growing your dental practice, there’s a lot to consider. Should you purchase a second office? Hire more staff? Update your marketing efforts? Having a good expansion strategy in place can help answer some of these questions and make your transition into a higher-functioning practice more streamlined and stress-free. Follow these five simple tips for effective practice growth to get started:
- Find a Support Team. Growing your practice is going to take a lot of helping hands, on both the clinical and financial side. Look for support staff and associates who align with your own practice mission as they will be more likely to stay with you long-term. It is also beneficial to gather a consulting team, including a financial advisor and legal expert, to ensure you are making the right moves as your practice grows.
- Plan to Expand. Acquiring a new office can be a great way to grow your dental practice. Purchasing from an existing owner who is retiring within a few years lets you work closely with the current doctor, staff, and patient base before you take full ownership. If you have a support team already established, you can streamline any financial or legal issues beforehand.
- Upgrade Your Practice. Most patients will prefer a dental practice that offers the greatest level of comfort. Investing in state-of-the-art technologies or becoming certified in advanced sedation options is a great way to entice more people to become your patients. Broadening your list of services to make your practice a one-stop-shop for dental treatments is also an advantage.
- Maintain Good Reviews. Online is likely one of the first places potential patients will look to get a feel for your practice. Having a lot of high ratings and good reviews can help you stand out amidst other dental practices. Encourage your current patients to review your practice and address negative reviews quickly and professionally to maintain a good online reputation.
- Improve Your Marketing. One of the best and most effective ways to grow your practice (especially if you aren’t ready to buy another) is through strategic marketing. Upgrading your current website, social media accounts, and business listings make you more accessible to patients. This is also an effective way to build up name recognition if you expand in the future.
