Identifying Key Partnerships

Building a successful dental practice requires thoughtful strategies that ensure you provide the best for your patients while making the most of your resources. This is why going it alone simply isn’t realistic for long-term success. Different types of strategic partnerships, when properly implemented, can help you grow your practice and reach your revenue goals sooner.

One of the most common partnerships is between two or more dentists who operate a practice together. In this joint venture dental practice, each dentist benefits from sharing resources and distributing overhead costs.

Of course, a joint venture dental practice differs significantly from a sole practice’s operations and may or may not be the direction you want to go. However, there are other strategic-partnership options that can improve your practice without requiring you to change your existing business model.

Specialty Partnerships

Specialty partnerships are a prime example. There are many cases you may come across that require referral to a specialist. Unfortunately, these cases inconvenience your patients to some extent because they must visit an unfamiliar dentist at another location. But there is an alternative: a partnership that brings the specialist to you.

These arrangements involve working with specialists who visit multiple practices, often bringing their own equipment. They can provide a wide range of treatments within your practice that would have otherwise required outside referral. Areas such as endodontics, orthodontics, and oral surgery are great examples of specialty partnerships.

Benefits of Strategic Partnerships

How exactly does this type of strategic partnership benefit your practice? Let’s look at several advantages with both the patient experience and business perspective in mind.

First, having a specialist visit your practice means your patients can enjoy a wider range of treatments under one roof. They’re already familiar with your practice, so they’ll be more satisfied if they don’t have to visit outside providers. That satisfaction will help you retain existing patients as well as encourage word of mouth to bring in new ones.

Second, dental specialists may be able to provide better outcomes for treatments that your team is technically capable of providing (molar RCTs, for example). That way, you can ensure that your patients receive the best possible care regardless of their treatment needs.

Third, strategic partnerships are a win-win situation from a financial perspective. Instead of having patients walk out the door to see a specialist, your practice retains a portion of the revenue generated from those treatments. You can also offer more treatment options without investing into special technology, as the specialist typically travels with their own state-of-the-art equipment.

This is also advantageous in cases where you may not see a high frequency of certain cases. Maintaining the training and equipment to offer those treatments simply may not be cost-effective. Relying on a strategic partnership maintains access to those treatments as needed without the ongoing commitment.

Partnering With EndoConnect

If you’re looking to leverage strategic partnerships as part of your dental practice growth strategy, consider working with EndoConnect to provide in-house endodontics. EndoConnect’s specialists offer root canal treatment, endodontic re-treatment, and other options to provide the best outcomes for patients. Our team’s high level of experience ensures that your patients are treated by specialists who are up to date on all the latest techniques.

The endodontist who visits your practice also brings state-of-the-art equipment. This means you can offer a broader range of treatment options and better outcomes without having to invest in any special equipment yourself.

EndoConnect collaborates with you to ensure your patients get the care they need. We focus on properly integrating within your practice, following your clinical culture and communication style.

Partnering with EndoConnect opens the door to dental practice success: You keep your patients happier and retain a portion of the treatment revenue. That’s a huge step up from sending your patients to an unfamiliar specialist, leaving them unhappy and losing revenue at the same time.

Start leveraging strategic partnerships.

Establishing the right strategic partnerships for your practice goals now will lead to long-term dental practice success. While there are surely many different partnerships that can deliver great results, endodontics is among the most effective. Partnering with EndoConnect to provide exceptional endodontic treatment in Dallas, Texas, could be the right move for your practice. Find out how you can become a partner today.