Orthodontists go into the healthcare profession in order to make a difference to people’s lives, and because of an interest in medicine and oral health. But in addition to managing patients’ care they must also manage a profitable practice. Without a profitable practice, they will no longer be able to treat patients.
Many orthodontists have a natural affinity for the business side of healthcare, while for others it does not come as easily. Here are some ideas for how to run a healthcare practice that generates a healthy profit while still being focused on patient care.
1. Buy Orthodontic Supplies Online
For most orthodontists, the bill for equipment and orthodontic supplies is always large. But many people remain focused on the traditional ways of buying supplies – from sales reps and from distribution companies. This may not always be the cheapest way. It may be a habit, but there are more efficient and cost-effective ways to buy essential supplies with ease. The most obvious way is to buy online. And to buy online from a company that has a full range of equipment for sale in the same place. One of the biggest wastes of time and money is having to shop around different companies that sell different supplies, for the best prices. This is much easier online, where you can easily list and compare prices and make orders.
2. Implement New Strategies
If you have reached the stage where you are no longer worried about developments in new technology and patient care this will naturally show in your attitude to your business and to your patients. It is important to stay abreast of the latest technology, and to keep up to date with new practices in order to offer the best possible patient care, and to keep yourself and your staff interested in their work.
3. Delegate Tasks
An orthodontist, while having a full knowledge of business management, also knows that it is most valuable for them to be treating patients. The effective orthodontist will delegate specialist business tasks to people with the relevant expertise and will rely on hiring professionals that add to the profitability and efficiency of the business.
4. Focus on Marketing
It’s not just about advertising in the local press or getting business cards printed. There is a whole lot more to marketing a dental practice. It helps to hire a marketing expert who can advise on the myriad strategies of attracting and retaining customers, using social media marketing, rewards programs, online marketing, traditional marketing, networking, and other aspects. It is also a good idea to look at how different products and services within the practice are marketed to specific groups of people.
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