Wherever you are at in your career—whether you are looking at buying a dental practice, selling a dental practice, or somewhere in between—it’s a good idea to stay informed about dental practice and industry trends. If you are just starting out, you want your practice to be up-to-date. If you closer to the end of your career, you may want to boost the value of your practice by making it attractive to younger doctors who may be more aware of current trends. And at any time, it’s smart to see how you can improve your practice—either with tools that boost efficiencies, new technology, or ways to provide better patient care. To help out, we’re going to discuss some of the hot trends for dental offices in 2019.
3D printer technology is a major innovation that can have a huge impact for dentists. They can slash the time and money that you have to spend on the production of aligners, veneers, crowns, and tooth replacements. Owning your own 3D printer will allow you to manage production of these things on your own, without having to pay a third-party lab, which keeps more money in your pocket. You may need to hire someone experienced with the technology to operate the printer, but, in the long run, you may save thousands of dollars by being able to keep the production in house.
Additionally, by being able to produce items in-house, you will be measuring wait times in terms of minutes rather than days. A patient can have treatment completed in a single appointment whereas, if you rely on an outside lab, they will need to reschedule another appointment. This will be better for the patient and for your practice. It improves patient satisfaction and reduces your administrative costs.
If you are buying a dental practice, this is a great piece of equipment that you should consider acquiring.
More than ever, people are concerned about the materials they use, especially those they put into their mouths. Products like bamboo toothbrushes and charcoal toothpastes are becoming more popular. Consequently, practices that have integrated natural product options will attract patients for which these things are important. It’s a simple, low-cost change, and can easily be added to your existing marketing techniques.
Even if you don’t want to fully commit to this, it’s a good idea to review the products you do have for the inclusion of unnecessary chemicals and see whether there are better options for your patients. Consider whether you can provide options that are healthier and more sustainable.
Any dentist with experience knows the frustration of dealing with cracked and deteriorating casts. You don’t have to put up with this. Computer-aided design (CAD) and computer-aided manufacturing (CAM) software can be used to create more reliable impressions. The fact is, this is the way the industry is going, it’s simply a matter of whether you are coming along. New doctors are going to want this technology, so if you are looking to add a dental associate or considering selling a dental practice, you should consider this upgrade. It will make your practice more attractive.
Laser technology is a growing trend and for good reason. It’s a technology that has a major impact on the quality of patient care you can provide and its benefits are readily apparent to the patients. For this reason, it’s a good thing to consider if you are looking to add value before you sell a dental practice, if you are looking to expand your practice, and if you are looking for ways to add value after buying a dental practice.
Among the many uses of laser technology, you can whiten teeth, remove tooth decay, repair enamel before filing, reshape gums, remove bacteria during root canals, and eradicate lesions. All of this makes your job easier and reduces the amount of time you have to spend on a patient. Less time in the chair also makes for more satisfied patients. Other patient benefits include less sutures, less reliance on anesthesia, reducing infections, less damage to gums for faster healing times, and less blood loss.
You don’t need to be told that consolidation of practices has been on the rise. However, the impending death of the individual practice has been greatly overstated. Group practices can be good for reducing costs but what makes you a good doctor may be lost in a more rigid corporate model.
That said, if you like the treatment side but hate the business end, you may want to consider selling your dental practice to a group practice. You can have a regular paycheck and lose the headache of running a business.
If you have an entrepreneurial spirit, however, you probably will still be best suited by buying a dental practice that you run on your own.
Automated Patient Tracking and Management Software
Chances are you’ve already experienced this—getting appointment confirmation notices by text, pre-recorded follow-up calls, online portals for patients to schedule appointments and send and receive messages with your office, and using handheld tablets to complete forms. These things reduce the workload on your staff and, thereby, save you money. It also allows patients to manage their appointments and treatment on their own schedule, which is appreciated in an increasingly busy world.
DDSmatch Southwest Can Help You Know What is Best for Your Dental Practice
Here at DDSmatch Southwest, we are dental practice transition specialists and our nationwide organization has experience with hundreds of successful transitions from around the country. For ten years we have been advising doctors on how to best prepare for transition. If you are considering selling a dental practice in the next five years, we offer a free, no-obligation Practice Transition Assessment, part of which is helping identify areas of investment that will add value to your practice. Contact us today to find out how we can help you—it starts with a conversation.