7 Expert Tips for Growing Your Dental Practice
Growing a dental practice is a complex yet rewarding endeavor that requires careful planning, strategic decision-making, and a clear vision. Whether you’re a private practice owner aiming to expand your single location or a multi-location dental group looking to grow your network, the move toward scaling up involves more than just increasing the number of offices. It’s about enhancing revenue, elevating patient care, fostering a positive workplace culture, and ensuring that every aspect of the business is poised for success.
To help you navigate this challenging path, we asked six industry leaders at this year’s Dykema DSO conference to share their most valuable tips for how to grow a dental practice. Their insights provide a blueprint for success, offering practical advice and dental practice growth strategies that can be applied at every stage of your journey.
7 Ways to Grow Your Dental Practice
1. Master your numbers.
Robin Reich, DDS, founder of Reich Dental Centers and past president of the Georgia Dental Association (GDA), emphasizes that a deep understanding of your business metrics is essential for scaling up effectively. “For someone looking to scale up, the number one thing I would tell them is to get hold of your numbers and know your business inside and out. Know what every number means and look at it every month for any changes.”
By mastering your financial and operational metrics, you can make informed decisions that drive dental practice growth and quickly identify areas needing improvement.
2. Prioritize culture.
Jason Heffelfinger, CEO of Dental Care Alliance, believes that a strong company culture is the foundation of a successful scaling strategy. “When you are a small DSO, that is the perfect opportunity to build a company that you’re proud of. It’s a lot easier to do it right the first time. So really focus on culture, really pay attention to the types of practices you onboard, the partners you hire alongside of you to make sure you set the tone for the organization.”
Establishing a positive culture early on not only sets the tone for your organization but also makes it easier to maintain that culture as you grow your dental practice.
3. Build a solid platform.
Heffelfinger also stresses the importance of building a robust infrastructure and choosing the right partners for dental practice growth. “Find those partners that you’re going to grow alongside and really lean in with them.”
A strong platform and reliable partners will support your expansion efforts, allowing you to grow a dental practice with confidence and stability.
Hear more tips how to grow your dental practice in this video with DSO leaders from the 2024 Dykema Conference:
4. Document your success.
Teresa Williams, CFO and COO of Dental Express, advises that one of the keys to successful scaling is to clearly document your winning strategies and processes. “Really take a hard look at what has made you successful. Have you documented those processes? Really codify your SOPs [standard operating procedures] so you can go replicate them.”
By codifying your SOPs, you ensure that your successes can be replicated consistently across new locations, maintaining the quality and efficiency that contributed to your initial success.
5. Maximize existing resources.
AJ Acierno, DDS and president of clinical operations at Smile Brands, recommends that before expanding, practices should focus on fully optimizing their current resources. “Get to capacity before you add more offices, and make sure you’re operating effectively and efficiently.”
Maximizing the efficiency and productivity of your existing office space can increase profitability and reduce the need for immediate expansion, allowing you to grow a dental practice more sustainably.
6. Be cautious but brave.
Bradley Dykstra, DDS, founder of MI Smiles Dental Group, cautions against rushing into expansion without careful preparation. “Be brave. Be ready for a lot of headaches. Don’t rush into something just to add locations. Do your homework and make sure that your cash flow can support it because you don’t want it to drag down the whole organization.”
Taking a measured approach to growth ensures that your business remains financially healthy and that each new location contributes positively to the overall organization.
7. Stay focused and persistent.
Hamid Barkhordar, DDS, co-president of Care Dentistry Group, encourages those looking to scale to stay focused on their vision and persist through challenges. “Focus on what you want your organization to be, what you want your organization to represent. Really focus on that and push through and don’t let anybody stop you.”
Staying true to your vision and pushing through obstacles will help you achieve your long-term goals, even when the road to scaling up gets tough.
Find Dental Practice Growth with Planet DDS
Growing your dental practice is about more than just adding new locations; it’s about creating a solid foundation that supports sustainable growth. By mastering your numbers, prioritizing culture, and staying focused, you can scale your practice in a way that enhances patient care, improves employee satisfaction, and drives long-term profitability.
Contact us today to find out how you can grow your dental practice with Planet DDS.
