A Successful Private Practice

[seansk]

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What do you think will matter the most in a Private practice; What will make your private practice thrive, or become more successful?

Will being a great dentist and doing an excellent job make your office more successful , or being a great businessman and just a decent dentist? or something else?

I personally think, skill will come with time! but understanding the business is what will make or break you.

put in your 2 cents.

 

[AtreyuRocks]

Both are important, but skill doesn't just "appear". you can be a great business-person, but if you suck balls at your profession, ain't no one gonna be returning or giving referrals.

at the same time, if you are pro at your job, but have crap advertisement and cannot manage your money, employees, time, taxes, insurance, etc, you lose.

neither compensates for the other. it's a package. (my uncle recently retired, and we were having a little chat about this particular point... business sense, dental ability, successful practice. he had a thriving private practice-- two offices in southern california. luckily, he was keen to have (and learn) good business sense. some colleagues however, were not so fortunate and much of their great talent was not realized in profit the way his was.)

 

[seansk]

Both are important, but skill doesn't just "appear". you can be a great business-person, but if you suck balls at your profession, ain't no one gonna be returning or giving referrals.

at the same time, if you are pro at your job, but have crap advertisement and cannot manage your money, employees, time, taxes, insurance, etc, you lose.

neither compensates for the other. it's a package. (my uncle recently retired, and we were having a little chat about this particular point... business sense, dental ability, successful practice. he had a thriving private practice-- two offices in southern california. luckily, he was keen to have (and learn) good business sense. some colleagues however, were not so fortunate and much of their great talent was not realized in profit the way his was.)

ya well obviously if you "suck balls" as you said. You'd never do well. But comparing a decent dentist with good business sense, and a excellent skilled dentist, with decent business sense.

 

[AtreyuRocks]

ya well obviously if you "suck balls" as you said. You'd never do well. But comparing a decent dentist with good business sense, and a excellent skilled dentist, with decent business sense.

haha. actually NOT true. people who suck at their job make money all the time. sorry, in my head "decent" meant a nice way of being "not-so-good" (suck balls was too strong, effect worked nicely though 😉). i think the two you are comparing are a draw.

 

[AtreyuRocks]

also, if you work at enhancing your skill and ability, it will definitely do you well. but the same could be said about learning business-sense, no?

 

[shamrock2006]

I think this is probably why a lot of schools offer some sort of practice management in the curriculums now. To at least "show you the ropes" so to speak when it comes to the business of dentistry.

 

[polf]

I would assume if you had proper business sense, you would realize when you suck at procedures and go do a AEGD or GPR to improve your skills.

I mean its inefficient and bad for image to be messing up your routine work and having to redo them. It would probably work out financially to take a year off improving your skills.

 

[JMJRDH1]

No matter how great your clinical skills are, if you run your business poorly it will probably not be successful.

 

[jackbauer!]

all my mentors have built extremely successful practices & these are the common things i've noticed:

-patient referrels (greatly) outnumber dentist referrels
-they provide a service that many other dentists do not (ex: nitrous or flat panel tvs w/ bose headsets)
-they charge a higher fee per service than others in the area. their patients pay the fee b/c of their services (see above) & b/c they feel as if they're getting better tx b/c of the price.
-low staff turnover rate. average staff members have been around 5-7 years....some more than 20 years!
-PPO practice (no HMO)

jb!🙂

 

[Fuji]

Don't forget personality. If your patients don't like or trust you, it doesn't matter how good your margins look.

 

[pauljeekim]

i keep hearing from many dentists and dental students that if you're a competent dentist but have a great personality and business sense that you'll do a lot better than an amazing dentist with poor people skills...

there have been articles regarding medical practices and how often they get sued, dependent upon how well the patients view the practitioners... i'm assuming this is related to how well a practice is run as well...

if crowns, fillings, and whatnot are decent, the patient will not really know the difference, while another dentist may think it's a pretty ugly job... but, what the patient does know is how nice and professional the dentist was....

or so i've heard... =P

 

[wizziefiend]

What do you think will matter the most in a Private practice; What will make your private practice thrive, or become more successful?

Will being a great dentist and doing an excellent job make your office more successful , or being a great businessman and just a decent dentist? or something else?

I personally think, skill will come with time! but understanding the business is what will make or break you.

put in your 2 cents.

Keeping overhead low. a.k.a. sunk costs that no matter what you have to pay...too much business debt or debt leveraging (debt:equity) can cripple companies. Trying to be a friend to employees instead of their boss.

 

[seansk]

Keeping overhead low. a.k.a. sunk costs that no matter what you have to pay...too much business debt or debt leveraging (debt:equity) can cripple companies. Trying to be a friend to employees instead of their boss.

your don't really address the question tho? business or skill? However from you comment it seems like the business and professionalism in the office is more importat!!

 

[seansk]

hmm...i guess the topic of a successful private office is not as interesting as students loans!! since most of your income is gonna be comming from you loans right??!! or maybe people don't like to comment on things...they just like to argue with other people!!

 

[KOM]

Hire highly attractive hygienists.

I only mention that because a guy I work with has told me before how he chooses to go to his dentist because of this one specific, attractive, hygienist.

 

[4thQtrDreams]

hmm...i guess the topic of a successful private office is not as interesting as students loans!! since most of your income is gonna be comming from you loans right??!! or maybe people don't like to comment on things...they just like to argue with other people!!

Wow.... USC really doesnt give you enough to do.. but we already knew that..

 

[wizziefiend]

Wow.... USC really doesnt give you enough to do.. but we already knew that..

haha....

 

[jackbauer!]

Wow.... USC really doesnt give you enough to do.. but we already knew that..

 

[BodybldgDoc]

Wow.... USC really doesnt give you enough to do.. but we already knew that..

haha. made my day

 

[armorshell]

hmm...i guess the topic of a successful private office is not as interesting as students loans!! since most of your income is gonna be comming from you loans right??!! or maybe people don't like to comment on things...they just like to argue with other people!!

How could any of us possibly know what the best way to run a private practice is? We've never done it before.

Student loans on the other hand, that's just simple math combined with common sense.

 

[seansk]

Wow.... USC really doesnt give you enough to do.. but we already knew that..

no it doesn't! USC IS crap! I think!!!

 

[seansk]

How could any of us possibly know what the best way to run a private practice is? We've never done it before.

Student loans on the other hand, that's just simple math combined with common sense.

oh look! you actually did read this thread. It's funny that as soon as I got a little offensive you started responding!! where ever there's a fight to be fought, there is armorshell and others will follow!

anyways I don't mean to pick on you or anyone else...its all good man 🙂

I never asked if you ran a private office, or the right answer, I was just asking to put your 2 cents in!!