As a practice–owning dentist, you carry two titles—dentist and business owner—and you have to be good at both. If you've had a successful solo practice, you may be ready to expand, but first you need to understand that the rules are different when it comes to group practices. To continue increasing profitability as you expand your practice beyond one office, there's one thing in particular you need to know: The recipe for continuing success is centralizing your practice management software and practice operations.
You can run your business hands–on every day when you have a single practice. But when you have more than a couple of offices, you can't be everywhere at once. Although you can't create clones of yourself, there is something you can duplicate to make sure each location is running the way you want. It's creating a successful practice model and then replicating it across offices. By doing this, you benefit from consistent policies, procedures, workflows, systems and standards across the organization.
The centralizing aspect of this model really comes into play with your dental software. With multiple offices using different kinds and versions of software, data and records become fragmented between locations. Multi–location practices have unique needs and require dental software that can support them. Your software should allow you to use a centralized database as the foundation for standardizing records and data and corralling them in one place.
Multi–practice business owners can't afford to lose time and money through inefficiencies that multiply by number of locations; they must use a new paradigm to grow and be profitable. Centralizing is critical to that business success because of how it benefits your entire organization:
Centralizing, standardizing, and creating consistency and efficiencies. Put it all together, and you have the recipe for continual growth.
Your recipe for success will be unique to your organization, but there are guidelines that can help you develop it. To create your perfect business model that can be duplicated across offices:
By following these steps as you create a centralized multi–location practice, you'll be able to find the recipe for success for your organization. As you put it into place and apply it consistently across offices, you can reap the rewards of a profitable practice with unlimited growth potential.
Learn how Dr. David Ting was able to optimize his multi–site practice's efficiencies and drive growth of BDG Dental Services Inc.to 23 thriving locations (so far!) by downloading Dentrix Enterprise's eBook Keys to a Successful Multiple Location Practice.
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