Chain Dental Practice
A new phenomenon in the dentistry industry is chain dental groups. Chains have a corporate structure that spans al the dental practices in the group, which may cover many cities or even provinces. Dentists sign up to be a part of the chain dental clinic and commit to following corporate lead on treatment objectives and office policies. The dentists run their dentistry business in accordance with the objectives and systems set up by the corporation. They give up their right to steer the dental practice in their preferred direction in exchange for several unique advantages. .
Own a Share of a Dentistry Business
Dentists who are a part of a dentistry chain are part owners of their business. The corporation or chain owns the other part. So while you share the responsibility for the success of the business, you also share in the rewards. This motivates both you and the corporation to contribute to the success of your business. It allows you to have part ownership in a situation that is more like being employed by a dental clinic.
Let the Corporation Take Care of the Business End
When you are a part of a dental chain, you can concentrate on being the best dentist you can be because the corporation takes care of business details like marketing, management, human resources and supplier discounts. You get to spend more time treating patients, albeit within the system the dental chain has set up for all practices in the corporation.
Help with Setting Up Your Dentistry Business
The corporation offers legal services, billing and scheduling programs, and even helps you equip, furnish and supply your office. Dental chains sometimes use set building plans and hire the construction company to erect your building so that all dental offices in the group can be as nearly identical as possible. They manage the details of all these business transactions for you, so getting started in the dentistry business is a seamless process even if you are not well-versed in the business end of the profession.
Are You Willing to Give Up Some of the Control?
Although you run the business when you are a part of a chain, you agree to do it within the business model of the corporation. Many dentists find this confining. They want to make their own decisions about how to manage staff and serve patients. If you do consider joining a dental chain practice, be sure that you read the contract carefully before you sign. Make sure you can live with the policies of the chain dental group for as long as you plan to be with them. Have a lawyer not connected with the chain go over the contract with you to make sure what is being asked of you.
Advantages of Being a Part of a Chain
- Easier startup
- Help with equipment and suppliers
- Concentrate on being a dentist rather than a businessperson
- Part owner of a dentistry business
- Get help with marketing, staffing and management