6 Money Management Tips for Dental Practices

Although a dental practice can be incredibly successful, there is no denying that it costs a lot of money to run. If you are not careful about managing your finances, you could actually find your practice losing money, no matter how good your clinical skills and how long your patient list might be. Here are 6 money management tips for dental practices. Hire an Expert There are endless moving parts in the finances of any dental practice. Overhead, accounts payable and receivable, business insurance, staff salaries…you are a dentist, not a finance expert, and you have enough on your plate ...
Read More

Personal Social Media: 5 Things That Could Hurt Your Practice

Social media is an absolute must-have for any dental practice today. Yet the power of social media is a double-edged sword: harness it in the right way, and you can watch your business soar, but let it get out of control, and you can torpedo your reputation. There are a lot of potential pitfalls on your practice’s social media pages, but did you know that your personal social media can also damage your dental practice? Here is what you should know. Mixing Business with Pleasure It is extremely common for patients, staff members, and colleagues to send social media friend ...
Read More

Demolition Clause in Office Lease: What You Must Know

Office leases can be quite complex, and many dentists are unsure exactly what all the complicated language means. It is always best to have a competent attorney review your lease before you sign it, as there are many clauses that could be problematic to your dental practice. One of the biggest red flags to watch out for is a demolition clause. Here is what you must know. What Is a Demolition Clause? A demolition clause states that if the landlord decides to demolish or redevelop the building, he or she can serve the tenant with a notice to vacate. Different ...
Read More

Tracking Your Dental Practice Website: Why and How

You probably already know that a strong, credible website full of high-quality content is essential to growing your dental practice. What you might not know, though, is how incredibly important it is to track your website’s performance, or how to go about doing that tracking. Here is what you should know. Why Do I Need Tracking? Tracking performance is the only way to understand what is working on your website and what still needs tweaking. Without tracking, you might get only a small trickle of new patients and have no idea why. Or you might suddenly get a flood of ...
Read More

Do you want to grow your dental practice? Throw out the box!

It’s an expression so common that it’s become a cliche:, “you have to think outside the box.” But whether you are inside the box or outside the box, it’s still seen as the “safe space” you can retreat to when things get tough. But is it really that safe? Let’s take a look at the current state of our business.    The cost of a dental education continues to skyrocket with an average student debt of almost $300.000!   There are more Dentists than ever electing to become employee’s rather than owners Dental insurance companies are still squeezing the profit ...
Read More

The rise of corporate dentistry is relentless

The rise of corporate dentistry is relentless. With rapid expansion and almost limitless budgets, dentist/owners are being forced to compete against entities with incredible purchasing power and efficiencies of scale that are almost impossible to achieve as a solo owner. Shockingly, many dentists aren’t even aware of this growing threat to their business. Corporate dentistry  – which include Managed Service Organizations (MSOs) and Dental Service Organizations (DSOs) – is growing at a rate of between 40 and 45 percent each year. What is the difference? Dental Service Organizations are usually chains and run like franchises. Some have a universal look ...
Read More

Podcast: How To Create a Thriving Dental Practice

Dr. Howard Farran from Dentaltown joins the program to discuss how to create a thriving dental practice, and the biggest mistakes that young (and not so young!) dentists make. Share on Facebook Share Share on TwitterTweet Share on Google Plus Share Share on Pinterest Share Share on LinkedIn Share Share on Digg Share ...
Read More

3 Ways to Bring Down Your Dental Office Lease Costs

Controlling expenses is vital to the health of any dental practice. Yet many dentists are unsure how to go about it. There are certainly areas in which high costs reap great rewards, such as investments in digital technology. But there are other areas where you might not have any idea that not only are cost savings are possible, their implementation would have zero impact on your patients or the way you practice dentistry. Your dental office lease is one of these areas. Reviewing and negotiating the details of the proposed lease before signing or renewing can reveal ways to save ...
Read More

What Dentists Need to Know About Google My Business

Online marketing is absolutely essential for dentists in today’s crowded marketplace. Getting your website (as well as your Facebook, Twitter, and other social media) in front of potential patients is the only way to ensure a consistent supply of new patients. Increasingly, those seeking a dentist will turn to Google first. Google My Business is one of the easiest and most effective ways to boost your Google ranking, ensuring that local prospects will see your website. To maximize the power of your Google My Business page, though, it is important to devote some time and energy to making it the ...
Read More

What the Relocation Clause in Your Office Lease Actually Means

Imagine you have developed the dental practice of your dreams. You have a loyal group of patients, a constant influx of new patients, and a team you trust. Things couldn’t be going any better. Then suddenly, you get a notice from your landlord that you have to move your practice to another location. What will this mean for the practice you have worked so hard to nurture? Welcome to the relocation clause. What Is the Relocation Clause? Sometimes known as the substitution space clause, the relocation clause is extremely common in commercial rental contracts. In essence, it gives your landlord ...
Read More