Setting up a squat is a viable way to get into practice ownership but does require a very different approach from buying an existing dental practice. You need to create a plan of what your dental practice will become and with this a financial forecast so you can be comfortable with the necessary investment required. If you feel that setting up a squat dental practice is a route to explore, then get in touch on 01765 698699 for a discussion. Many dentists are looking at the option of Squat practices, particularly those who have worked through the challenges during Covid-19. To begin with, all squat practices are essentially single surgery practices until they have enough patients to fill their second surgery. Although you are your own boss, at this stage owning a single surgery practice is incredibly hard work so you need all the help you can get to make this happen smoothly.
A squat dental practice is essentially a practice started from scratch, usually with a single surgery to begin with an aspiration to be a highly profitable business.
There are many aspects to building a successful squat practice and the most important from the start is to focus on a clear plan.
You will need to create a compelling proposition and build your business plan around this. You need to decide what services you will provide and consider the treatments available locally making sure that your market research indicates there is enough demand for your supply.
Consider opening hours to include evenings and weekends or something that is unique and different to the competition.
Have a clear direction for your dental practice and where you would like to get to in a set time frame.
For example, attracting a certain number of new patients within the first 6 months. Forecast your cashflow for the first year and draw up a timeline of how your practice will grow.
The general area that you chose must be one that you either know well or have done extensive research into. Look at demographics, competition, footfall, and even ease of parking or public transport links. If there are business or residential properties that could generate your initial customer base, consider how that could benefit your new business.
Regarding the actual building, parking and disabled access are important factors, as is ventilation for plant equipment and space for the various rooms you will need and possible expansion. The look and feel of the property will also be important to the overall aesthetics and building customer confidence.
For any practice undertaking regulated activities in England, you must plan to register as a provider with a registered manager with the Care Quality Commission (CQC).
These can be very daunting tasks and there is a lot to consider including various policies the CQC registration manager will wish to see before they allow your registration to be approved and you can open for business.
We recommend you segment the activity into two parts:
The project including equipment, maintenance, staff costs, marketing, and any refurbishment will need to be budgeted for.
Bear this in mind as it may take some time before the practice starts making a profit, so you will need working capital to finance this.
Make sure you have a good accounting package or someone who can keep track of this for you. A practice manager can do this for you and produce regular reports for you to have sight of, then commission an accountant for your annual returns and carry out comparisons in the dental market. You may be surprised what a specialist accountant may pick up for you and save you money in the longer term.
Knowing your budget and how to attain the finances needed will also keep your decision-making focused.
Investment in marketing is essential for a new dental practice, especially a quality website and regular social media engagement and activity. Include marketing in your project plan and consider asking a student to support you as they will likely have the latest ideas and you will be helping them to gain valuable experience.
Start your marketing early so that potential customers know that you are opening soon and even arrange an opening event with a press release. Reduced cost initial check-ups are a great way of gaining new patients and a referral scheme can bring in customers for a very small cost.
As mentioned, a practice manager will be valuable to you in these early days. They will be able to take on most duties for the day-to-day running of the squat practice so that you can focus on meeting the customers needs.
You should consider the team you need around you and who will lead on key areas such as infection prevention and control, compliance, HR, rotas, customers inquiries, ordering supplies, cleaning, and the general day-to-day running of the practice.
The customer experience is vital to keep customers returning and your customer target group should be kept in mind when designing each room within your squat practice. Designing a dental practice reception area and waiting room will give your patients that amazing first impression which is so important in the customer journey.
The design of staff workflow depends greatly on the layout and size of the business and focuses on good infection control procedures. The decontamination process should be carried out by ensuring that a dirty to clean workflow is maintained, and you meet the requirements of HTM 01-05: Decontamination, in primary care dental practices. The mandatory requirements are that where instruments are reprocessed in the dental treatment room the CQC would expect to see that reasonable steps are taken to reduce the risks to patients.
These include:
Having the reprocessing area as far from the dental chair as possible.
Reducing the risk of exposure to bacterial aerosol by not manually washing or using ultrasonic cleaners without a lid the patient is in the dental treatment room to ensure patient comfort, reduce noise in the treatment room as much as possible
Do not operate ultrasonic cleaning baths and autoclaves whilst patients are undergoing consultations or treatment.
Another aspect to overlook is good lighting, and not just in surgery. The lighting within the whole practice should be practical and functional.
By creating an enjoyable environment to work in and making a professional impression with your patients and staff will be of benefit to you in the short and long term by retaining customers and your team members.
Having your branding in mind throughout the design stage and your marketing will ensure consistency. Starting your marketing early will make sure that you hit the ground running when you open the doors of your practice.
As the owner of a new Dental squat practice, you will likely have design ideas in mind.
You may wish to gain the assistance of an experienced project manager and/or hire an experienced practice manager at the very beginning of the project, as they would be a great asset to the process; offering advice and guidance concerning other members of staff, marketing and purchasing.
Ordering and taking delivery of equipment is an exciting stage to get to. Have a contingency plan in place for any equipment delivery delays and make sure you research early in the project with your preferred suppliers.
Knowing what equipment, you will need and budgeting for it is something to do at an early stage as the cost will be significant. There are options you can consider, like lease financing, rentals, and used equipment but make sure that all compliance rules are met, and new technology is utilised.
Your equipment needs may include:Once your practice is set up and running you will need to be proactive in maintaining and servicing your equipment. Having a regular annual service plan will not only ensure that you are CQC compliant but will also extend the working life of your dental equipment. Keep a list of all maintenance plans and when services are due, so there are not overlooked.
With all these factors considered including costs, it might be as quick to purchase an established dental practice.
This shortlist is just the start, and each aspect will need to be covered and well researched before you begin making decisions.
