Is Running a Dental Practice Hard? Challenges of Equipping a Dental Office

• Equipping a dental office is expensive.
• Taking on loans to start your practice on top of student loan debt can make it hard to sleep at night.
• A disrupted supply chain means dentists are not getting what they want when they want it.
• Many dentists cannot buy products.

Tips for Managing Your Own Dental Practice

• Focus on training your team.
• Choose employees with skills and the right attitude.
• Make training ongoing.

Profitability and Ownership Statistics

• The average profitability for a general practice is 30%-40% of revenues.
• About 77% of dentists owned their practice in 2017, down from 84% in 2005.
• The average dentists’ remuneration was $204,710 for generalists and $343,410 for specialists.
• Ownership has declined from 84.7% in 2005 to 73% due to the growth of Dental Service Organizations (DSOs).

Toughest Challenges in Running a Dental Practice

• Operational costs are a major challenge.
• Time management is crucial.
• Facing difficulties with administrative tasks and technology.
• Clinics were struggling with finances, customer acquisition, and retention.

Tips for Successful Dental Practice Management

• Setting clear goals for your dental practice.
• Having a modern, user-friendly website.
• Addressing common sources of stress in the dental practice.