For a dental practice to be successful, its dentist-owner must do more than simply produce satisfied patient-customers. The dentist must operate the practice as a business – an entity that generates revenues, assesses risks, and sets long-term financial goals.
Most dentists, although incredibly knowledgeable about the field of dentistry, are not trained in the analytical methodologies required to scrutinize and evaluate the overall business functions of their practice. Even those dentists with the time and skills necessary to manage the day-to-day business operations of their practice cannot deny that their energy is better spent on the more critical role of treating patients.
Often outside financial consultants experienced in dental practice management and handling issues facing dentists can be valuable business partners. This allows dentists to concentrate on treating patients, while the business adviser provides personal attention and customized solutions that meet immediate and future business needs. Read More