Do's and don'ts for practice growth: Does a second office make sense?

2016 11 18 14 42 01 206 Practice Success2 400

Many dentists think about opening a satellite office at some point in their career. They may see it as a logical approach to attracting more patients, appealing to more productive demographics, laying the groundwork for a future relocation, etc. There are a number of good reasons to embark on a two-office strategy, but it's not right for everyone. Before you make such a move, come up with a realistic idea of what it will take to achieve the intended results.

Do

Analyze the pros and cons carefully. As with any major change in how you do business, opening a second office will have a profound effect on you, professionally and personally, as well as on staff members and patients. Think your way through the effects (and side effects) of becoming a two-office practice. Objectivity is vital. For this reason, have frank discussions with colleagues who've used this growth strategy -- and consult with financial and practice management experts to gain greater insight into its consequences.

Don

Don't do it unless you're totally committed. Even in cases in which opening a satellite office makes perfect sense, it won't work without an ongoing commitment on the part of the dentist. Envision what the change will really require from you personally -- and base the decision on your willingness to meet those requirements.

Roger P. Levin, DDS, is the founder and CEO of Levin Group, the leading dental practice consulting firm in North America. For the complete list of dates and locations where you can attend his latest seminar, visit www.levingroup.com/gpseminars.

The comments and observations expressed herein do not necessarily reflect the opinions of DrBicuspid.com, nor should they be construed as an endorsement or admonishment of any particular idea, vendor, or organization.

Page 1 of 533
Next Page