Young dental practices have a better chance of success when armed with effective marketing and management skills, publishes mdsdentalsolutions.com
Rockaway, NJ -- (SBWIRE) -- 10/13/2014 -- Although the unofficial standard of profitability in the dental field is set at 45 percent for privately owned practices, industry statistics reveal the majority of these practices are operating far below that margin. Delving into the dental sector uncovers a bit of unexpected news regarding the reasons behind this gap in earning success. Research indicates the issue has very little to do with the level of care or customer service provided by staff members; instead, the fault lies in inadvertent management errors and marketing deficiencies.
This comes as no surprise to Dr. Marc Schlenoff, DDS, FAGD, founder of dental practice management consulting firm MDS Dental Solutions. Having spent almost three decades in the industry, his expertise spans both the medical and managerial aspects of owning and operating a profitable dental clinic. Considering common mistakes of the field, Dr. Schlenoff has launched his company's latest campaign to promote successful business practices among emerging dentists.
Said Dr. Schlenoff, "Providing the highest level of dental care to patients and offering top-notch administrative services can certainly help young practices retain patients. These factors also ensure existing patients are going to recommend the practice to others, but in today's competitive world, word of mouth can only go so far. It takes a highly customized marketing strategy, both online and offline, to reach the top and consistently bring in new patients."
The Tier One consulting program offered by MDS Dental Solutions is designed specifically to help those young dentists currently starting a dental practice. This service covers effective marketing to draw in new patients. The rules of modern day marketing are in a constant state of flux; at the same time, many techniques are exclusive and vital to the dental field.
Adding new patients helps expand a practice's profit margins, but making appropriate use of those profits is essential to converting first-time patients into regulars. This is where the company's management advice comes into play. Productively investing some of those profits back into the practice helps solidify ongoing advancement. This aspect includes upgrading equipment, funding continuing education, facility renovation and expansion and other elements to help improve the business.
Dr. Schlenoff concluded, "Those notes barely scratch the surface of all the factors involved in success. Traditional consulting models are not specific to this industry, so they are not as effective as the ones we follow. Most young dentists just looking into opening their own practice simply don't have the available funds to take advantage of specialized consulting services, but our Tier One Program was created with this in mind, as well. We offer customized dental practice solutions at affordable prices to help bridge these gaps."
About MDS Dental Solutions
With 30 years of success in practicing dentistry and operating a profitable practice, Dr. Marc Schlenoff, DDS, FAGD and the staff of MDS Dental Solutions have put their knowledge and experience to work for others in the industry. They help create a customized approach to management and marketing specific to the unique needs of each client.