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What you need to know
- Communications & Technology
Dentists who wish they could take their practices with them wherever they go can pretty much have things their way. Communication technology continues to spawn mobile gadgets with capabilities that range from simple telephone connection to e-mail, instant messaging, word processing and record keeping.
- Marketing and Advertising
Aside from excellent patient care, many analysts suggest that an organized marketing strategy is a powerful business builder. In addition to standard methods, such as referrals and the patient grapevine, today's practitioners have a range of sophisticated tools to spread the word about their practices.
- Patient Relations
As vital as patients are to any dental practice, not much data is available regarding the impact of good patient/dentist relations - but there are plenty of articles, editorials and books on the subject. Aside from a very appropriate emphasis on the practice's technical excellence, however, most literature boils down to one basic principle: Treat every patient as a valued individual.
- Employment and Training
Like any business operation, a successful practice largely relies on happy, well-trained employees. Research has shown that among factors such as profitability, efficient billing and well-organized revenue collections, effective staffing is one of the chief contributors toward excellence.
- Billing and Accounts Receivable
With excellence of patient care the top priority in today's dentistry practices, industry analysts point out that invoicing and accounts receivable practices just don't get enough attention. Because the health care disciplines pump billions of dollars into the economy, the situation is especially ironic.
- Vendor Relations and Purchasing
In the realm of dentistry practice, the purchase of provisions and equipment happens on nearly a daily basis. The high price of everything - from office and exam room supplies, to furniture, pharmaceuticals, computers, x-ray machines, imaging tools and kitchen gadgets - can drain a smaller operation's resources, especially in new practices.
Newly-minted dentistry practitioners typically find that malpractice coverage takes a hefty bite out of annual income. And, according to a report from the American Dental Association, while awards against dentists - typically $30,000 to $50,000 - average about 10 percent of the size of medical malpractice claims, the cost and emotional duress of a professional liability suit is no less traumatic.
- Work/Life Balance
By definition, burnout is a sense of emotional and physical exhaustion resulting from work-related stressors such as personnel difficulties, over-packed schedules and other demanding situations. Burnout can lead to a multitude of problems, including chronic fatigue, volatile emotions and depression. Susceptibility to ailments such as colds, fevers and headache increases as well.
- Temporary Practice Coverage
No matter how tireless the practitioner, everyone needs time away from the office. Unfortunately, dentists in small practices find real vacations - let alone sick days - are almost impossible, because no one is available to fill in..
Social Media Best Practices & Applications
Emerging technologies, changing business models,
legislative issues – all these factors influence
today’s dental industry. Use this section to keep up
with news on topics impacting your profession. Subject
areas include practice management, staffing, patient
relations and much more. Besides culling these articles
from leading news sources nationwide, we update them on a
- Industry Financials