As the owner of your dental practice your days can be long and quite busy. You see patients and perform operatory procedures. You deal with paperwork and payroll. Likewise, you ensure the office is prepared for upcoming procedures. And despite the inconvenience of it, you knew this was part of owning a dental practice. But there can come a time when you question if you want to do the myriad of administrative and management tasks ownership brings. If this resonates, it may be time to consider selling your dental practice and working with a dental management company.
A dental management company is a partnership with a team alongside you. They help you streamline your practice, and they share the challenges you face in leading your team. Your time is freed up to practice dentistry, and the administrative burden of accounts payable, accounts receivable, marketing, payroll, human resources, etc. are handled by a staff provided to you. Does this sound like the perfect solution to a successful dental practice? Then check out some advantages of working with a dental management company.
Benefits of Working with a Dental Management Company
1. Offload administrative tasks– These tasks vital to a thriving practice can be draining. You went to school to do dental work and interact with patients. You likely did not want to spend hours a week dealing with paperwork and personnel. By outsourcing to a DMC, you can let them take care of the admin jobs.
2. Better technology – Are you a younger dental practice with aspirations of having the latest technology, software, and equipment? If this is the goal, but your current finances are stretched thinner than nylon dental floss, teaming up with a dental management company could be the solution. Many DMCs will invest in your office so you can get the tools needed to be more effective and efficient.
3. Financial benefits – Depending on the DMC you work with, these benefits may vary. However, common pros of working with a dental management company include:
- Getting an upfront payment for your practice
- Revenue-sharing arrangements
- Marketing packages
- Lower overhead costs.
4. Better work-life balance – One of the biggest appeals in teaming up with a DMC is the freedom to work shorter days. Instead of 40+ hour weeks at the office, you can enjoy your days off.
5. Creates an exit strategy – Eventually, the time will come when you are ready to retire or perhaps pursue a new business venture. But this means finding someone to take what you built and lead it into the future. This can be stressful. Working with a DMC will connect you with dentists interested in expanding their practice or seeking a place to begin their career.
Are you ready to let someone share the load of building your practice? Then, now is the time to talk to Progressive Dental Concepts. Working with us means you have people to share the administrative tasks, provide growth opportunities for your practice and your dental team, and help you negotiate with insurance companies’ requirements. Don’t keep struggling to find work-life balance. Reach out to the Progressive Dental Concepts team today.