Dentistry just isn’t the same as it used to be. With changes to the NHS contract, and the rapid growth in the private sector, the way dental practices operate is far removed from the days where a practice owner could simply turn up each day and ‘do dentistry’.
The modern practice principal now needs skills that extend far beyond being clinically capable. He now needs to understand business; needs to have a good grasp of a wide range of skills including leadership, marketing, branding and recruitment. It is now simply not enough to open the doors to a new practice and expect patients to flood in. Indeed setting up a new practice now requires a great deal of planning and careful thought in order to establish a powerful identity that reflects who you are and what your practice can offer.
Rahul and Bhavna Doshi are two of the UK’s leading cosmetic dental surgeons, who have worked with TV media on programmes such as Extreme
Makeover UK and Britain’s Worst Teeth. They have also been extensively featured in the national press including The Times, The Independent, The Daily Mail, The Guardian, and others besides. Their techniques and strategies have increased and optimised revenues for many colleagues through their consulting and coaching programs and seminars. They provide the perspective of practising dentists and creating profits in a business.
“Over the past few years there’s been a big change in the way dental practices are operating,” says Rahul. “More people are now entering the private market and so are trying to find ways to attract more patients and compete against their local rivals. The problem however is that while all practice principals will have gained excellent clinical skills over the years,
very many lack the business skills to help them realise their practice’s full business potential.”
Whether you already own an Strategic success established practice, or whether you’re looking to invest in the near future, it is essential that you give proper thought to your business strategy. According to Bhavna, there are many lessons that can be learnt from big business, and the success stories of some of the world’s top CEOs.
“They key is to think like an entrepreneur,” says Bhavna. “By adopting entrepreneurial thinking you can create a successful profitable practice using
protective business protocols against any form of economic or business decline. This is particularly important in the current economic climate, and also when you consider just how competitive the market has become.”
On Saturday, November 9, Rahul and Bhavna Doshi will take to the stage at the BACD Annual Conference, which this year will be held at the Hilton London Metropole Hotel. In their lecture, ‘Entrepreneurial Thinking for Strategic Success’ they will cover many different facets to strategic thinking and business management, drawing on their experiences from their own practices, as well as those practices they’ve worked with in a coaching capacity to nurture great financial success.
“We’re both really looking forward to our lecture at the BACD Annual Conference,” continues Rahul. “Our aim is to give lots of ‘snippets’ or action points that delegates can take away. You see it’s not just one thing that makes a difference – actually it’s a lot of different things together. Leadership in particular is an area we will give a lot of attention to, and we will show just how adopting a focused ‘laser’ vision is far more effective than a ‘scattered’ vision. This makes all the difference when making key decisions within your practice.”
In what will be a compelling and information-packed lecture, delegates can expect to learn the exact processes of developing a profitable practice, how to deal with local competition, and also how to turn expenses into investments that provide returns.
“In our lecture you will be able to discover all the necessary ingredients to staying ahead of the competition,” says Bhavna. “You will also gain a greater understanding of the areas within the practice that can be leveraged for greater revenues. Not only will you learn how to action, implement and integrate these profitable techniques but you will also gain a greater understanding of effective and efficient management protocols for much more profitable dental business. We hope delegates will leave our lecture feeling inspired and reinvigorated, armed with plenty of hints and tips they can take away for strategic success!”