Establishing a new dental practice is exciting, but it can also be an overwhelming experience, with many considerations to explore which require careful planning. A range of factors will determine the success of your practice, with key considerations in planning and implementation to create a solid foundation.
The number of dentists graduating each year has increased, combined with a growing number of Australian dental graduates eligible to work in New Zealand means the selection of providers nationally is expanding. Combine this with high expectations from patients, and pressure, on both existing and new practitioners, to produce and execute a successful practice from the get go is greater than ever.
Having helped many dental practitioners start new practices we thought we'd share our insights to help you get ahead. Here are some important points to consider when starting a new dental practice:
Finance
One of the first steps in opening a dental practice is to understand how you will finance it. The cost to finance a practice can range anywhere between $150,000 to $550,000, which covers the design, fitout and equipment ready for you to open your practice.
If you have a time frame in mind for starting or expanding your practice, it's worthwhile planning ahead to have a clear understanding of the solution that will work best for your individual needs. There are many free business tools available, which can be used as a guideline to help calculate the cost to finance your practice and there are specialist finance providers experienced in the dental profession that can help.
Creating a business plan will be required when applying for any business loan and will help guide you through the finance needed to move ahead with your plans. A business plan will indicate the amount of money you'll need in each area of your business, your goals, how you're going to spend the loan, and how you plan to meet your repayments. New Zealand Trade and Enterprise explain what's required within a business plan and guide you through creating your own plan.
Yes, dental practice loans are similar to other business loans, however, with dentistry promising guaranteed income (almost immediately), they are seen as low risk for lending. It's important to keep in mind if your business is a start-up, bank lenders will analyse your personal credit history as a reference and business loans will require security to fall back on, such as personal property. There are also alternative financing options available for dental fitouts and equipment where providers only require you to be registered with the Dental Council for a borrowing of up to $500,000. No personal or financial statements required. For equipment there are lease or lease to own options that can help reduce your initial outlaw while your patient base is still growing.If you have any questions around financing your new practice feel free to contact us and we'll help guide you in the right direction.
Service supplies
When establishing a new dental practice, the last thing on your mind is the importance of sufficient service lines. You'll be forgiven for not knowing much about compressed air, extraction systems, suction and plumbing lines, however, the design and routing of service supply lines are important factors to consider in the early stages of planning. These can easily be overlooked and if installed incorrectly can affect your system performance. This is why we recommend you contact the team at Dentec for a no-obligation site assessment so you can be aware of any potential pitfalls ahead of signing your lease or purchase agreements.
There are specific guidelines to follow to ensure your installations can allow future alterations, maintenance and upgrading of equipment. Fully qualified installation engineers and service technicians are vital and will guide you from the planning and design stage through to the fitout stage.
Having professionals meet you on-site allows a project management team to listen to any requirements and concerns you may have, while guiding you with advice.
Determine your space and design requirements
Building trust and rapport early with your patients will start with the image and design of your clinic. A good first impression will start as soon as your patient walks into reception and sits in the waiting room, so your design should instantly reflect your commitment to quality.
Gone are the days of an out-dated clinical practice, with the transition to aesthetically pleasing spaces and the use of contemporary interiors now seen as a benchmark for all. Your design should be welcoming and relaxed, professional and personable, up-market yet accessible. Often heading to a dental practice can be a daunting experience for patients, so having a relaxed environment can help ease anxiety and change your patient's perception of dentistry for years to come.
With the first impression starting as soon as a patient walks through the front door, it reiterates the importance of getting the design right. The design and fitout of your practice will need to deliver when it comes to patient comfort, practice efficiency and staff satisfaction. Whether you're planning on starting a practice from scratch or wanting to rejuvenate an existing premise, it's important to speak with a trusted provider of dental design services to make sure you get the design right the first time.
Layout
In combination with the design requirements of your clinic, is the importance of a successful layout. A key consideration is to determine how much space you will need for each room within your clinic. The waiting room, treatment rooms, reception, bathrooms, OPG area and storage rooms are all key aspects to consider when discussing your layout requirements. The number of rooms and space you will need will vary from one practice to the next and your practice will need to be customised to suit your requirements.
For example, a smart layout of your space is important to ensure ergonomics for your staff. The treatment room and unit will need to follow the general layout for a dental practice. Usually, the unit faces away from the entrance of the door, to provide comfort for the patient and offers an easy entry and exit point for staff.
Choosing a trusted dental and equipment supplier will ensure your layout is both functional and practical for patients and staff.
Technology and Equipment
The expectation for practices' to use advanced technology and equipment is high, which adds to the financial stress for those starting a new practice. However, this provides a far better service for both your patients and staff and is a long-term investment in success.
With the continued increase in expectations, it's important to distinguish your practice as high-tech, which includes everything from booking tools to scheduling software. By keeping up-to-date with the latest technology and modern equipment you are communicating to your patients that they're receiving the highest level of care, all whilst staying competitive in today's dental market.
Starting a dental practice entails providing a wide range of quality dental practice equipment for your staff. This will help them perform their jobs to a high standard and offer a quality standard of service and care for patients. Tailored equipment solutions and investing in the right assets can take a lot of time and can often feel like a never-ending task. Finding a trusted dental equipment supplier can ensure you are using the best tools in the market and will be someone you can work with to obtain affordable and quality equipment.
View our range of equipment for every budget, floor plan, and aesthetic »
Dentec offers a straightforward and simple approach to dental and medical clinic design and fitout services. Our team of professional designers, managers, qualified installation engineers, and service technicians cover every aspect of your design and fitout giving you peace of mind that everything is looked after and communicated to you every step of the way.
