Dentists enjoy the art and science of clinical dentistry, but not so much the art and science of the business of dentistry. As dentists, we work hard to perfect our clinical abilities. We love going to clinical courses. No matter whether it is implants, orthodontics, oral surgery, laser dentistry, cosmetics, or CAD/CAM, we enjoy learning new ways to treat patients.
But what about learning the business of dentistry? For most dentists, this is not nearly as exciting as learning a new clinical procedure. Dentists will usually go to a course on the business of dentistry because they think they need to, not because they really want to.
To most dentists, the business of dentistry is a necessary evil they must suffer through. I often hear dentists say that they love clinical dentistry, but they hate the business part of dentistry. Therefore, when revenue is down, many dentists try to correct the problem clinically.
In other words, they try buying a new piece of equipment or learning a new clinical procedure, thinking this will fix the revenue shortfall. Adding a new piece of equipment or clinical procedure can increase revenue, but typically this approach is not going to fix low production and collections problems. This is because the real problems are business related.