By Dawn Christodoulou, President/Owner of XLDent
After reviewing another month of stellar reports, you are feeling confident that your patient-focused style, team, and community presence have rounded up the best patients around. Adding an associate or two is sounding more and more like a great idea. You are confident that you have the know-how for business that is required for taking on the challenges with this type of expansion. Hopefully, there will be a doubling of profits in this venture – but watch closely for the doubling of risks too!
Just like in real estate, consider the location of the practice first. Is the community able to support another dental practice? Preferably, it’s one with a growing population of families. It’s worth considering buying an existing practice in a nearby area, because they already have a patient base established, and negotiations can include the selling dentist staying on for a few weeks to transition the practice. This can prevent a mass exodus of patients from the practice, while the new team is settling in.
When considering associate doctors to expand the new care team, word-of mouth recommendations are a great starting point. Dental school alumni and study club groups can provide some direction on potential candidates. Perhaps adding a specialist to your team and providing a wider range of services will be just the competitive edge your practices need. Don’t rush this part of the process. It will likely take multiple meetings and interviews to realize a good fit. You will want someone with a similar drive to grow the practice, and similar views on the best way to care for patients.
What about software? We would be remiss if we didn’t talk about the heart of the practice’s organizational structure, claims management, and record-keeping. There is a misconception that, if you have more than one location, you must have cloud-based software. This is not the case. XLDent offers a solution called “replication”, in which multiple offices are running instances of the database locally, as well as writing to each other database instantaneously. Staff has access to all records, patients can move freely between locations, and business operations can be done on an organizational level. This helps streamline day-to-day processes and can be especially helpful if your associate is on call for the weekend and needs to see the chart and x-rays for an emergency patient at the opposite office from where they usually go for treatment.
Goals for expansion can certainly be achieved with careful planning, management of risks, and an outstanding team beside you. Choosing a location, team, and business software to meet your needs will give your practice a strong foundation for growth in any direction.
To connect with XLDent, call 800-328-2925 or email email@example.com
Dawn Christodoulou is the President/Owner of XLDent. She has more than 25 years of experience computerizing dental offices and helping both new and established practices streamline electronic workflows for increased efficiency, improve patient engagement, and achieve maximum profitability. Dawn is also a member of ADA SCDI Working Groups 11.1 Standard Clinical Architecture and 11.9 Core Reference Data Set.