Orthotown January/February 2021 - 64
" Space and equipment " includes everything that
has to do with the physical building where your office
is and all the equipment within it. Most importantly,
let's talk about the number of treatment rooms.
Only so many patients can be seen in each of your
treatment rooms each week. Once you reach that
maximum, you cannot grow your practice until you
increase capacity by adding rooms. If you're thinking
there's no point in adding treatment rooms until
you're ready to add another doctor or assistant, you're
underestimating yourself and your team.
While it's true each doctor and each assistant can
physically work on only one patient at any given moment,
that doesn't mean your team can't be prepping other
patients-unless, that is, you have no place to put them.
Which brings us to the all-important point: You can't
generate more revenue by serving more patients if you
can't physically fit them into your space.
Did you know that on average, a fully utilized
treatment room in an efficient dental practice generates
$35,000-$60,000 in production per month? That
equates to $420,000-$720,000 per year. (We've seen
upward of $250,000 per room per month in urban areas.)
In a nutshell, your practice makes money by
64
maximizing use of your treatment rooms. The capital
investment you make in additional rooms is guaranteed
to have a positive return, as long as you put patients in
them. You need only do the math to convince yourself.
Still unsure? Prove it to yourself with a smaller investment,
then go bigger when you see it's a surefire strategy for
increasing revenue and net income.
* Start with a small investment to ramp up
capacity by simply converting underutilized
space, such as a break room or office. Some of
our clients have even converted a storage closet
into a treatment room. It's time to get creative!
* Then plan ahead to invest in longer-term growth
with a larger space and more treatment rooms.
* Better yet, invest in the building itself: Owneroccupied commercial real estate is one of the
best investments you can make in your future.
Even if you sell the practice when you retire,
you'll continue to reap the rewards in the form
of highly profitable rent.
The category of space and equipment also includes
critical areas such as your lobby and building exterior.
You want your patients to be wowed as soon as they
drive up to your office and walk through your doors.
And if you're selling, you want those first impressions by
prospective buyers to speak volumes about the quality
and value of your practice overall.
JANUARY/FEBRUARY 2021 // orthotown.com
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Orthotown January/February 2021
Table of Contents for the Digital Edition of Orthotown January/February 2021
Orthotown January/February 2021 - Intro
Orthotown January/February 2021 - Cover1
Orthotown January/February 2021 - Cover2
Orthotown January/February 2021 - 1
Orthotown January/February 2021 - 2
Orthotown January/February 2021 - 3
Orthotown January/February 2021 - 4
Orthotown January/February 2021 - 5
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Orthotown January/February 2021 - Cover3
Orthotown January/February 2021 - Cover4
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