How To Start A Dental Practice: A Dental Checklist
Starting out a new dental practice is a huge endeavor. From planning the initial concept of your business to stocking supplies, there may be a lot to do and consider before you even open the doors to see patients. In order to help you organize your efforts and be better prepared, you must understand the scope of what needs to happen in each aspect of your new business.
While many of the action items below appear simple, they do require hours of research, financial budget, professional assistance, committee approval, applications, and more. So once we go through the checklist, we shall discuss a few points from it in detail below.
Remember, it may not be possible for you to undertake all these tasks yourself and you might need to hire professional services in order to assist you. You will also need a trustworthy dental supplier and that is where we come in. Noble Dental Supplies has been serving the global dental community since 1978. We offer discounted dental products and you can easily browse through our range of supplies by clicking on this link - https://www.nobledentalsupplies.com/.
Here’s a dental checklist to quickly guide you on how to start a dental practice one task at a time.
Starting a New Dental Practice Checklist
- Initial concerns
- Decide if you want to start a brand new practice or buy into an existing one
- Sketch out a business plan
- Arrange financing
- Buy or lease office space
- Plan out your specialties and services
- Decide practice hours and holidays
- Human Resources
- Hire a lawyer & an accountant
- Put out advertisements to hire
- Check applications and references
- Complete license verification, interview candidates and hire
- Fill out employment eligibility I-9 forms and check policies & benefits
- Take support from human resource solutions to make sure everything is in order
- Begin training and orientation
- Insurance policies
- Get Life insurance
- Professional liability malpractice insurance
- Disability income insurance
- Workman’s compensation
- ERISA bonds
- Business loan protection insurance
- Business overhead expense insurance
- Entity malpractice insurance
- Business owner’s protection insurance
- Employment practices liability insurance
- Data breach insurance
- Obtaining Finances
- Establish credit accepted and pricing
- Become a provider listed with major insurance providers
- Obtain required equipment, hardware and software for accepting payments
- Consider payment plans you will offer
- Make arrangements to accept cash (banking, safe, change and so on)
- Secure accounting assistance as needed
- Setup state and federal taxes and acquire IRS tax ID number
- Clinical Requirements
- Stock up on supplies
- Ordering affordable dental supplies was never this convenient - https://www.nobledentalsupplies.com/
- Buy equipment and schedule installation
- Choose and partner with a dental laboratory
- Hire medical waste management service
- Consider the amenities you’d like to offer your patients and in the waiting area
- Determine software needs for finances, call tracking, appointment schedules, billings and coding.
- Launch your practice website
- Make online listings of your practice info wherever applicable
- Set up a review page for your service on the website
- Create social media pages
- Create a practice email account
- Get a logo designed and get it on some merchandise to imprint brand image
- Regulations & Licensing
- Get local zoning and building occupancy permits
- Get a state dental license and a controlled substance license
- You’ll need HIPAA compliance
- You’ll need to register as a provider with the centers for Medicare & Medicaid services
- You will also need infection control standards compliance and OSHA compliance
Buying a dental practice can seem overwhelming at first, but the rewards of being your own boss and running your own office can make it all worth it. But first, let’s briefly discuss a few points from the above checklist in detail.
Understanding your budgetEstimate as best as you can for the initial costs to get your office up and running AND to sustain day-to-day operating expenses for at least the first few months. Most importantly, predict in advance any unexpected costs to ensure there is money available, just in case. This fact is overlooked very often by new dental practices and before they know it, they start relying on credit cards and scramble to find further capital.
Good LocationIt’s a good idea to research the area you want to locate your practice in before you settle on a place. This will help you gain understanding of the local market. Ideally, your location should be accessible, in proximity to your targeted patients, and most importantly, it should be within your budget. You also want to avoid an area where there are a lot of practitioners already.
Equipment and Supplies
Buying dental equipment for the practice can be a lengthy and costly process. First of all, in order to run a business smoothly, you need to make sure that you’re buying your dental supplies in bulk and from a trustworthy name. Noble Dental Supplies has been in the business since the past 42 years. We offer facilities for quick ordering and re-ordering of your dental supplies and equipment as well as heavy discounts on bulk ordering.
Hiring StaffIt’s important to start thinking about hiring before you’re ready to move into a new office. Make sure you make time into your schedule to properly vet and hire suitable candidates. There are other considerations besides salary that you’ll need to budget for which include insurance, time off and other benefits.
Legal RequirementsIt can take months to earn credentials for your practice to accept a private and government insurance. So don’t wait until the last minute to handle the legal aspects. You also need to make sure you’re properly licensed in your state, have a national provider identifier number and are registered with the DEA. You must also comply with all other local regulations specific to your area. It’s a good idea to retain a healthcare attorney to assist so you can be sure you’re not missing anything.
MarketingYou must implement a marketing plan that advertises your practice across local print, TV and radio stations, as well as on online portals. A website with clear directions for setting up an appointment is a good place to start.