There’s a trope that has made it’s way through the dental community that “dentists are bad business people,” and it drives me bonkers.
Most every business owner I know has learned by doing. By taking action, failing forward, learning, and growing. So, please repeat after me to silence the haters – “I am a great businessperson and practice owner who is learning and growing every day.”
As is everything in life worth pursuing, owning and running a dental practice requires study, effort, perseverance, and finding trustworthy partners to lock arms with on your journey. I am from a family of small business owners and have seen first-hand both the challenges and rewards of running a business, and am a passionate advocate for the private dental practice. After a stint in the advertising world, I was incredibly fortunate to have found a career home in the dental industry that has now spanned nearly twenty years. My objective is to help dentists and their teams fight to retain their independence, increase top line revenue, surgically attack overhead, and create the practice of their dreams. All the while keeping patient care at the center of everything we do.
If your experience in working with a dental supply partner ends with your order of 2 x 2’s arriving in a timely fashion, I’d like to suggest that your friendly neighborhood Cotton Roll Jockey might have more to offer. Interview a few different reps from different companies and see what you think. You may decide not to change a thing. And that’s ok.
Here are a few questions to ask if you decide to take my advice:
👉 You visit hundreds of offices in a given month
-what are you seeing as market trends?
-what’s working really well for other practices?
-know of any amazing team members who might be looking to make a change?
👉 What new technology developments are positively impacting patient care?
👉 What new technology developments are creating significant time savings and return on investment for the practice?
👉 What do you notice in my practice that could use some attention?
👉 Are there formulary or contract price options that might help reduce supply spend?
👉 What additional practice and business resources do you have at your disposal outside of clinical supplies?
Some reps will decide this is a great opportunity to try and sell you stuff. That’s not always a bad thing. But the best reps will start to ask questions back about your personal goals and vision for the practice. They will want to go through a process similar to the one you use in working with patients, with a proper diagnosis and assessment before working up a treatment plan. If you are able to develop a real partnership it can help in tangible ways like expediting a service technician when your compressor decides to blow up, reducing down time and resulting lost revenue. A resource for HIPAA and OSHA annual review. A project manager and trainer for equipment and technology.
But they can also manifest as an invisible employee on your P&L. Someone with whom to discuss and explore practice growth opportunities. Networking for associates, hygienists, assistants, office managers, and practice acquisition opportunities. A partner to work with you on finding ways to both grow top line production, and surgically attack overhead to expand the pie for profitability and reinvestment. Because a healthy, profitable practice can do more for it’s team members, more for it’s patients, more for the community, and reward you the business owner for your investment.
For good measure as we close, let’s circle back to our mantra that kicked off this article – “I am a great businessperson and practice owner who is learning and growing every day.”
If you ever want to chat or have questions, please drop me a line or grab time on my calendar. And if you’re in the Kansas City metro area, and are interested in turning the above questions on me, I’m always grateful for the opportunity.
Here’s where to connect:
📅 https://calendly.com/robhays/practice-partner?month=2022-10
