4 Tips for New Dental Practice Owners Wanting To Grow Their Practices

Graduating from dental school is a significant accomplishment. And nearly 7,000 eager dentists-to-be graduate each year, ready to join an existing practice, take over an established practice, or start their own.

And whether you are a new graduate or you’ve been around the block a few times and are ready to venture out onto your own, there is a lot to consider. New dental practice owners need to think about far more than providing exceptional dental care. But how do you do it all and stay successful? We’ve got some tips to help.

Growing a successful dental practice does begin with an eye on patient care. After all, if you can’t care for your patients and provide them with exceptional dental treatments, they’re not going to want to come back. This can be bad news for dentists, especially when disgruntled patients take to social media to express their poor experiences.

And yet this all begs the question—what are the key considerations to help you grow without becoming overwhelmed or jeopardizing that work-life balance that you are working so hard to find? Here’s how to make it happen.

1. Start small and aim for steady growth.

Trying to be everything to every patient can quickly get you started down the wrong path. Starting small and growing steadily is a smart approach for new dental practice owners. It’s easy to get overwhelmed by trying to offer too many services at once, which can lead to burnout and a dip in quality. 

Instead, focus on mastering the essential treatments that align with your strengths and the needs of your patient base. As your expertise grows and you better understand what your community needs, you can gradually expand your offerings. 

2. Prioritize effective financial management.

We can’t emphasize this tip enough—financial management has to be a priority. About 82% of small businesses fail because of poor cash flow. And this is a big risk in the dental industry where you often provide services first and collect payment later.

Developing a solid system for billing and collections will help you stay on top of outstanding payments and avoid cash flow issues. Consider working with a financial advisor or using management software to track expenses, set budgets, and identify potential problem areas. 

Having a clear picture of your practice’s financial health will allow you to make better decisions and help your business grow without unnecessary financial strain.

3. Master marketing and patient acquisition.

You’ve likely heard the adage from Kevin Costner’s iconic film The Field of Dreams that if you build it, “they will come.” But unfortunately, it’s not quite that easy. Sure, you can start your new dental practice, put signage on the building, and set up your Google Business Profile. You might even start a social media account or two.

But marketing and patient acquisition is not a set-it-and-forget-it strategy. Ongoing marketing efforts are a must. Here are a few key strategies that new dental practice owners should focus on to attract and retain patients:

• Set a realistic marketing budget, allocating 10% to 12.5% of the revenue you intend to generate.
• Regularly update your website with valuable content like blog posts, patient testimonials, and service information.
• Stay active on social media by posting engaging content and interacting with your audience.
• Build a referral program to encourage your current patients to spread the word about your practice.
• Use email marketing to keep patients informed about new services, promotions, and appointment reminders.
• Track the results of your marketing campaigns to understand what’s working and where you might need to adjust your efforts.

4. Partner with EndoConnect.

Remember how we said earlier that you need to start small and simple, planning to scale later? Well, one of the challenges we see with new dental practice owners is that they bring on additional, highly specialized staff, such as an endodontist, right off the bat. But hiring these professionals, especially full-time, is a serious investment. Add that to the equipment needed to offer in-house endodontics and you’re looking at a serious price tag.

That’s what makes partnering with the team at EndoConnect so advantageous. We bring the specialists and all equipment to you and work with you on a schedule so that all endodontic work can be done while we are on-site. This saves you time and money, yet gives you one more service you can advertise to your patients.

Partner with EndoConnect, the best endodontist in Dallas.

Are you ready to add more value to your patients without taking on the costly overhead of a full-time on-staff endodontist? If so, we’re here to help. At EndoConnect, we will visit your dental practice with all the equipment and supplies needed for specialized endodontic treatments. 

This means your patients can receive top-quality endodontic care without the annoyance and frustration of being referred elsewhere. By offering these services in the comfort of their regular dental home, you make it more convenient for your patients and help improve patient retention. When patients feel cared for and comfortable, they are more likely to return to your practice for future needs. EndoConnect is committed to being your trusted partner, helping you provide exceptional endodontic care for your valued patients.

Ready to get started? Partner with EndoConnect today.