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Forum Category: Practice Administration

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Dentists and Business Training

The dentist’s average workday can be hectic and stressful just caring for the patients’ oral health. The additional burdens of worrying about new procedures, practice finances, staff issues, and equipment concerns can make workdays even more demanding. The complexities of modern life—actively participating in the family, eating right, exercising—only further extend the responsibilities of overworked clinicians. Dentists are the primary revenue generators of the practice. Patients trust the clinician with their oral health, and the staff depends on him or her for their livelihoods. These demands require that dentists act as responsible chief executive officers (CEOs) of their practices. Dentists do not receive extensive business training in dental school, and they do not generally read business and leadership books or attend business seminars. This managerial aspect of the practice, however, does deserve consideration. Business training is a critical component that enables the practice to achieve its potential.
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Dentists and Business Training

01:34 PM | Apr 06,2016
Business training in dental school education must be critically looked at. It is daunting to think about the number of facets that I don't know as a graduating dental student about the business model. There are so many aspects of business that are not addressed in dental school and it seems irresponsible of the institutions to not include this in our education. Sure, I would be willing to pay extra tuition in order to take an additional class or two on business training. Performing dentistry is a part of our position, but running a business is also a part, of which I would argue is just as important. It is not only important for revenue to be generated, but also to understand the legal entities of running such a business.

Dentists and Business Training

07:39 PM | Dec 16,2015
As I approach the halfway mark of my dental school education I am becoming increasingly aware of how little business training is offered in my classes. As described, the demands of a dentist are multifaceted and the responsibilities great. With a lack of experience and managerial training, it's difficult to feel prepared for entry into the workforce. Adding to the stress is the high cost of education. Debt ranging from 200-400k has become a norm for dental students across the country. This burden of debt, along with the the other unknowns we face, puts many of us "Type A" students in an uncomfortable position. As a result, corporate dentistry is becoming a more appealing option for recent grads. This is a far cry from the entrepreneurial spirit witnessed in our application essays. What do people think of the dual degree 5 year DMD/MBA programs? Does anyone here think that an MBA is practical to the dental career? Or are CE courses, experience, and a good mentor enough to successfully transition into private practice management?

Dentists and Business Training

01:03 PM | Sep 29,2015
I completely agree that dentists do not receive extensive business training in school and that it is a critical aspect of being a dentist. At our school, we have two Practice Management courses, which present very worthwhile information. However, I still feel that once I graduate, I will be overwhelmed and underprepared for handling the business aspects of dentistry. I believe the problem lies in the fact that we are trying so hard to master the handskills and sciences aspects of dentistry that we cannot devote adequate attention to learning the business end of things. I think CE courses are inevitable for most of us who desire incorporating practice management in our lives.

Dentists and Business Training

01:03 PM | Sep 29,2015
I completely agree that dentists do not receive extensive business training in school and that it is a critical aspect of being a dentist. At our school, we have two Practice Management courses, which present very worthwhile information. However, I still feel that once I graduate, I will be overwhelmed and underprepared for handling the business aspects of dentistry. I believe the problem lies in the fact that we are trying so hard to master the handskills and sciences aspects of dentistry that we cannot devote adequate attention to learning the business end of things. I think CE courses are inevitable for most of us who desire incorporating practice management in our lives.

Dentists and Business Training

01:03 PM | Sep 29,2015
I completely agree that dentists do not receive extensive business training in school and that it is a critical aspect of being a dentist. At our school, we have two Practice Management courses, which present very worthwhile information. However, I still feel that once I graduate, I will be overwhelmed and underprepared for handling the business aspects of dentistry. I believe the problem lies in the fact that we are trying so hard to master the handskills and sciences aspects of dentistry that we cannot devote adequate attention to learning the business end of things. I think CE courses are inevitable for most of us who desire incorporating practice management in our lives.

Dentists and Business Training

01:03 PM | Sep 29,2015
I completely agree that dentists do not receive extensive business training in school and that it is a critical aspect of being a dentist. At our school, we have two Practice Management courses, which present very worthwhile information. However, I still feel that once I graduate, I will be overwhelmed and underprepared for handling the business aspects of dentistry. I believe the problem lies in the fact that we are trying so hard to master the handskills and sciences aspects of dentistry that we cannot devote adequate attention to learning the business end of things. I think CE courses are inevitable for most of us who desire incorporating practice management in our lives.

Dentists and Business Training

08:40 AM | Feb 16,2011
A Dr. Heller spoke for us recently on the topic of associateship and similar business topics. You might look to schedule him for your own school, JohnD, because he was very informative!

Dentists and Business Training

10:58 AM | Feb 10,2011
After reading your post I thought I would take a second to define the role of the CEO for everyone. Although most dentists feel they should be involved in day-to-day managerial operations, a CEO’s primary concern should be the implementation of a management team that will run the company’s operations and achieve the corporation’s goals. Successful CEOs understand that they should not have to do everything in order for their corporations to be successful. Consider the fact that 9 out of 10 entrepreneurial businesses go bankrupt within 5 years. This factor is not necessarily due to an unsuccessful company or product concept. Entrepreneurial businesses generally fail because their CEOs do not know how, or are unwilling, to give up control. The clinicians do not trust the dental team because they do not know how to train their staff to manage specific responsibilities. Clinicians are so busy being entrepreneurs and producing results that they fail to build successful management teams. Typically, dental practices do not go bankrupt. They do not, however, maximize their productivity or profitability either. In the 1990s, dentists were less concerned about profitability due to the stock market boom. Now that a significant shift in the stock market has occurred, more dentists are becoming increasingly concerned with profits. In order to achieve these challenging financial objectives, the clinician’s role as the CEO must change.