If you are a dental student, a resident, an associate, a new dentist looking to acquire a practice, or an established doctor looking to improve your practice, we want to guide you!
NDP works closely with dozens of vendors in the dental industry and it’s our goal to provide you with the value from the beginning of our relationship and to become your trusted advisor. If we aren’t the experts, we know who is and can guide you to the best possible solutions. We have partnered with qualified and experienced service providers that specialize in the dental industry in each of the following areas:
It’s critical to research or confirm a location based on number of dentists in the area, income per household and target patient age. Likewise, it’s important to discuss marketing tactics and the most efficient ways to market to your potential patient base. The initial reports and coaching provided by these resources are often provided on a complimentary basis. This is done to build a relationship with you so that you may consider them for your future marketing needs.
It’s important that you speak with banks that specialize in dentistry so they understand what you are considering and can set realistic expectations. Even the decision to purchase, refinance, etc. is one to two years in the future, it is imperative for you to understand what banks require for acquisition loans related to dental practices. What level of personal cash they will want to see you have accumulated, what they think of your existing debt and how much they are willing to loan are critical components you will want to understand so you can adequately prepare. We have developed strong relationships with some of the top lenders in dentistry and understand the financing process.
Banks require specific insurance for certain loans so it is important that you work with a dental-specific insurance broker that can shop the right products for you. It’s also essential that you trust the agent you utilize who is on-board with your long term plans so they do not sell you products that you don’t need or products with inflated coverages and, in the end, inflated premiums.
Practice Management Consultants:
There are times you need a consultant to improve one or more aspects of the practice. Marketing, website development, new patient flow, office systems, billing, case presentation, office construction, and new equipment needs are just some of the areas where the advice of an outside consultant can be critical. Hygiene consultants and consultants who focus solely on a specific dental specialty can often be warranted.
Student Loan Resources:
One of the most significant changes in dentistry since 2006 is the dramatic increase in the costs of dental school, the 6.8% – 11% interest rates on student loans, and the swell of buyers in the industry. This combination has resulted in many new graduates with over $350,000 of student loan debt. There are institutions that can help manage this debt and NDP can help you understand how you can become an owner, regardless of your level of debt.
Marketing and New Patient Flow
In the digital age, to take your practice to the next level, a dental practice marketing campaign should include Search Engine Optimization, Pay Per Click marketing, and Click Thru optimized website design specific to the dental market. We have resources that have industry-leading tracking and reporting, and can effectively maximize the ROI for the dentist’s digital marketing budget.
The patients are often the biggest underutilized marketing resource a dental practice has. NDP has contacts with a premier company that utilizes exceptional products integrated with an internal referral campaign to help expand your patient base and reward existing patients for their loyalty!
Dental Buying Club:
One of the reasons corporate and large group practices are successful is the economies of scale and negotiating power they can have in purchasing things every practice utilizes on a day to day basis (i.e. dental supplies, payroll services, advertising, etc.) which allow them to reduce their overhead and increase their profit. Don’t fret though, resources do exist for you that can allow you to maximize your profit while remaining a private practice owner. Contact us to learn more and get in touch with our affiliate and begin saving today.