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Business Skills in Dentistry
With the decline in today’s economy, every industry is affected, including dentistry. You, therefore, must acquire certain essential skills in order to have a prosperous practice, attract patients and personnel, and eventually sell your practice when retirement approaches. How do you learn these business skills? After all, what does business have to do with providing health care? Well, for one, it will determine whether you can keep your practice going or have to close up shop.
Interestingly enough, good business skills are more about common sense and being open to change than having an M.B.A. For starters, communication skills are probably the most important skill you and your staff can develop. Those of you who have honed your interpersonal skills will ultimately be financially successful.
The most important skill you can develop and master for the success of your practice is the ability to listen empathetically to your patients and staff. By doing this, you will have staff and patients who will support you and be loyal to you. With a combination of excellent clinical and interpersonal communication skills, your practice will be unstoppable.
Another successful piece to the puzzle is to develop long-term relationships with employees. Even if the economy is running high, it doesn’t necessarily guarantee your success. If you are short-handed in the personnel department, this is going to affect your ability to provide care efficiently, thus contributing to stress and burnout and ultimately decreasing production and revenues.
Therefore, be understanding and considerate of your employees by providing flexibility. Provide merit raises, benefit packages and other incentives to keep your staff motivated and loyal. Be generous to your staff by giving them gifts on their birthdays and holidays, or just taking them out to lunch once a month to show your gratitude. Gifts often cement your commitment to a long-term relationship and create an appreciation as a person and employer. Don’t forget to include your patients in the giving -- especially for those who consistently refer to the practice, and those who have been loyal to you throughout the years.
Yet another business skill to acquire is taking a hands-on approach in running the practice. Active participation in job design and description is critical. The employer who is a good business leader is one who knows and understands each task in the office. Communicate your expectations of the job, and once standards are established, avoid micromanagement. You will gain the respect and confidence in your staff that you desire, and it will speak volumes to your patients.
Once you learn and put into action these simple communication skills your practice will be headed to financial security. The key element to successful communication and listening skills is practice, practice, practice.
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