Whenever I meet with doctors looking to build a start up practice I hear all the concerns and questions that cause them to hesitate. They’ll say to me: “I don’t have any patients, how can I grow my patient base to meet the expenses? Will new technology and equipment help me see more dentistry? How can I find a location to maximize the visibility of my business?”
What it really comes down to is one simple question: how long will it take to see the return on my investment? I tell doctors all the time don’t underestimate the power of a new, fresh dental practice in a convenient accessible location. Patients, who are actually dental customers, want a state of the art, convenient dental office. The guiding principle behind all of the customized plans and project timelines I create for start up dental practices is to get them to that break even point as soon as possible. In fact, over the years, I’ve developed a formula that typically reaches the break even point for start ups in just 7-9 months. Using a time tested methodology for analyzing location, designing space, optimizing equipment and technology choices most of my clients are happily in the black in under a year.
Start Up Case #1 Specialist Start Up
Over this past year I worked with an orthodontist who opened a start up orthodontic office in January of 2017. She invested in a high visibility plaza location, created a paperless office with digital x-ray, pan, ceph, four brand new treatment centers and a consultation operatory. The office includes state of the art sterilization center and a lab with perfect work flow. She worked to market the new practice, connected with her surrounding community and referral doctors in the area. When I checked in with her in July, just 7 months after she opened the door, she told me had a steady stream of patients and was no longer concerned about her payments. She had reached the break even point on schedule and according to plan.
Start Up Case #2 General Dentist Solo Practitioner Start Up
It can be daunting to build a solo GP start up practice, but a high visibility location in a retail plaza near great schools and in a growing area offers incredible opportunity for a solo practitioner. In November 2016 a fresh, new, family- centered general practice with a wide range of treatment options opened. The office was equipped with three treatment rooms and prebuilt to add two more. In just 8 months the doctor has added a hygienist two days per week and is averaging 35 new patients a month. She has surpassed her break even point on her investment and mentioned she will need to discuss the fourth treatment room and more technology in the coming months.
As you can see start up practices are very possible, and can be highly successful, with the right plan and the right support. In fact, a start up practice can be an excellent alternative to purchasing an older practice that needs extensive updating and retrofit. My team and I know all the parameters and the variables to stack success on your side. We have wealth of experience helping doctors successfully open the practice of their dreams and meet that all important break even point as soon as possible!
I help doctors evaluate location for a new or expanding practice with a keen awareness of the key elements necessary to optimize the outcome on their investment. Please take a moment to view featured projects and read testimonials from doctors about finding their ideal location. Let’s meet to discuss ways we can work together to find yours and build the successful modern dental practice of your dreams.