We’ve worked with dentists for over 20 years. Some of the top concerns dentists have stayed the same and some have changed. Two of the top concerns we are seeing today are staffing and growing your practice.
Staffing is a one that has risen to the top in the last 5 years. As 2024 Dentalpost.net industry salary report has shown, 45% of respondents are considering job changes. When it comes to staffing it comes down to the hiring AND the retaining the staff. Too many times hiring is done last minute and by emergency. The success in hiring good people, regardless of position, is directly proportional to the time that is put in the hiring process.
How to develop a good hiring and employee retention process…
- Develop relationships with schools. Assisting, hygiene and dental schools (including residency & advanced programs)
- Have hiring process rules. Example: ask for not only resumes/CV but also ask for at least 3 references and talk to all 3! Want to learn more steps to take? Reach out
- Have an onboarding process for new hires and an ongoing schedule of training.
- Have competitive pay and benefits. Educate your employees (EEs) about their benefits regularly. We offer annual education meetings with all our 401k plan clients and their staff.
Second top concern is growing your practice. In 2024, the growth of corporate dentistry (DSOs) has made dentistry a more competitive landscape.
Here are ways to help you grow:
- Hire a dental specific CPA
- Have your monthly financials (balance sheet and profit & loss) completed by the CPA firm within 15-20 days after the month is over
- Review your financials every month to see where you stand in collections, expenses and profitability compared to dental industry standards. Best to review your financials with your CPA and/or financial coach.
See more in our video. Need to find the experts to help? Reach out to schedule your free consultation.
