As per the Bachelors in Dental Surgery (BDS) statistics, India witnesses 26,000 dentist graduates every year from more than 300 dental colleges. Going by this rate, India is expected to have a surplus of 1 lakh dentists by 2020. The substantial rise in the number of dentist graduates has affected jobs in the concerned sector.
And, this scarcity of jobs in the dental sector has encouraged incremental demand to set up dental surgery clinics. However, setting up your practice requires finances that can be arranged out of pocket or by availing a loan for a dental clinic.
Costs incurred in the setup of a dental clinic:
- Clinic rent and maintenance cost
- Different utility bills like electricity, water supply, phone, internet etc.
- Basic amenity supplies (Air conditioner, desktops, refrigerators, lights etc.)
- Payment for employees (receptionist, assistants, associate doctors, trainee, cleaning staff etc.)
- Marketing and advertisement cost
Now, make sure you are thorough with below-mentioned points as these will help you in the setup of your dental clinic.
1.Plan out a business idea
A business plan is a formally written document that contains all the necessary determinants of a business. This includes a detailed description of your dental business along with the resources, finances and time required to set up.
Setting goals, defining business processes and marketing strategies (if required) are mentioned in the plan along with several others. Business plans are essential in the application of a loan for doctors.
2. Project financial plan
After you have planned out your business idea, the next step is to create a financial layout. It is important that you evaluate your budget for almost a year beforehand so that you have an idea of how much investment is required.
It will help you to decide whether you will need a medical equipment loan or not to set up your dental surgery clinic. Make sure to keep a few tips in mind for financial planning.
3. Decide set up location
Choosing the right location for your clinic is critical as it may affect your patient count in the long run. Setting up a dental clinic at a secluded location may not be a wise idea as your patient count can fall.
Whereas, setting up a clinic in a centrally located region is likely to attract more patients giving your business the right boost. The cost of offices at centralised locations may be a bit high but is considered best for practice. One can avail a loan for doctor clinic to meet this expense.
4. Market your business the right way
Choosing the right market strategy is significant as it ensures your business reaches the target audience and leaves a good impact on them. Several businesses plan on their marketing strategies even before set up to excel. Be sure to take care of below-mentioned points
- Create a user-friendly and responsive website
- Social media presence is a must
- Word of mouth and recommendation works magic
- Network among peers
Connecting to a wider section of the audience is imperative; hence, learn the top listing platforms where doctors can promote their practice.
5. Buy equipment
Common dental equipment required for dental surgery set up are mentioned below:
- 3D imaging system
- Dental lasers
- Surgical microscopes
- Chairside CAD/CAM systems
- Operative burs
- Dental excavators, etc.
Buy quality equipment to ensure the best dental practice. One may avail a medical equipment loan to purchase such equipment if there is a shortfall of finances.
6. Get approvals and licenses for your business
It isn’t wise to leave the legal licensing and approval procedures for the last minute. It may consume more time than you comprehend. Hence, make sure you are licensed to practice in state and have availed necessary Shop and Establishment Act registration, DEA and other registrations.
7. Hire the right candidate
Managing an entire clinic by yourself can decrease your efficiency. Hence, getting the required help is a necessity. Hire skilled medical professionals and experienced staff that can improve the productivity of your business.
By considering the aforementioned points, the dentist can easily set up their dental surgery clinic. One can even avail a loan for a dental clinic to finance this setup.
Keeping these aspects in mind will help you set a dental surgery clinic and run it successfully in the long term. Make sure you pre-plan these basic requirements before actually stepping into the real business.