Stay focused on patients – Rebecca Bird – Acquisitions & Tender Coordinator Rodericks DentalFeatured Products Promotional Features
Posted by: The Probe 3rd May 2018
Dental practice owners in the UK are increasingly feeling the pressure of running a successful business, all the while maintaining exceptional clinical standards. There are several challenges that must be faced and overcome every day, which require good business sense, skills and time from principals.
Overcoming the challenges
To start with, patient expectations are increasing thanks to increased accessibility to information and it is becoming very difficult to meet the demands placed upon the dental team. Where expectations are not correctly managed or met, the risk of litigation against the individual is very real and it is important for practices to be prepared and do everything they can to minimise that risk.
Then there is always the possibility of equipment breaking down or staff calling in sick, which can make daily life even more difficult. How does the practice continue to function if one of the dentists is not in the practice? Do all the patients have to be contacted and cancelled, or is there someone who can step in to help?
On the management side of things, every practice has increased bureaucracy to contend with. There are many more regulations to comply with compared to twenty years ago, meaning that more documentation is required to monitor and demonstrate compliance. This can take extra time out of the day for clinicians and administrative staff and it can be difficult to provide support to help them catch up with their other routine tasks.
Designed as part of the solution to what has become an incredibly busy and sometimes stressful profession, new innovations constantly reach the market claiming to streamline and simplify everyday life. It can pay to remain abreast of the latest materials, technologies and products, but this can be difficult to achieve with so many new solutions becoming available at such a fast rate.
To improve revenue, some solutions might include enhanced marketing campaigns, the focusing or expanding of services, or new collaborations with local businesses. This will all depend on your patient demographic, but there are several ways to boost income. Your next move might also involve delegating management responsibilities in order to share the burden of compliance. Part of the duties delegated might be to attend events and liaise with company representatives to stay on top of the latest innovations in your field of interest.
The final challenge is perhaps one of the most worrying ones – the state and, in some areas, the decline of oral health among the patient population. Most dental professionals join the profession because they want to help people enhance their oral health and general wellbeing. With figures demonstrating inequalities in the health status of people across the UK,[i] particularly when it comes to children’s tooth decay,[ii] these are worrying times. It can be difficult to know what to do and how to contribute to the situation and this can add another pressure to the already full workload.
For an individual practice, reorganising the services available or offering payment plans to help patients finance the treatment they need could help to improve access and ensure everyone gets the care they deserve.
Another possible solution to lessen all of the above challenges is, of course, to sell the practice. This would alleviate all the pressure of running the business and pass the burdens of regulation, compliance, financial management and training over to someone else. What’s more, selling to the right buyer can bring with it more opportunities for your practice to grow, your staff to prosper and your patients to enjoy a continued high standard of care for years to come.
Selling to someone like Rodericks Dental will give you all this reassurance and more. Rodericks is committed to excellent patient care and supports all members of the team with ongoing education and training. They can also facilitate a smooth transition process, completing the transaction in as little as 12 weeks*, visit your practice out of normal working hours, and contributing towards legal costs when a recommended representative is used.
Escape the pressure
If the pressure of running a dental business is becoming too much, there are ways to share the burden and reduce the stress placed on your shoulders and help you stay focused on what matters most – your patients.
For more information, please visit www.sellyourdentalpractice.net
Please contact Rebecca Bird at email@example.com or on 01604 602491 (option 5)
*12 weeks from the signing of Heads of Terms
[i] Nuffield Trust. The Health Foundatio. Key statistics: regional variation. http://www.qualitywatch.org.uk/content/key-statistics-regional-variation-0 [Accessed February 2018]
[ii] Public Health England/ Health matters: child dental health. 14 June 2017. https://www.gov.uk/government/publications/health-matters-child-dental-health/health-matters-child-dental-health [Accessed February 2018]
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