According to dental practice management experts, a dental practice should be generating an average of $10,000 to $15,000 of revenue per month in order to be considered reaching its full potential. As a dentist running your own practice, how do you get more patients in the door? And once you get them in, do you have the staff, equipment and facilities to provide services and comfort that will keep them coming back?
Working capital loans for dentists can help you reach your full potential and manage your cash flow. Fundation’s dental practice loans provide competitive rates and repayment terms so that you can focus on improving and maximizing your business.
Here are some good uses for a working capital loan that could help you make large strides in optimizing revenue:
Hiring a Dental Consultant
While the years of dental school prepared you to give the best care to your patients, they didn’t necessarily prepare you to successfully run a business. As the owner of a dental practice, you need to know when to ask for help. A short-term, yet immensely valuable expense you could take on would be to hire a consultant. Business consultants who are experts in the dental practice industry can evaluate and optimize your business, whether it’s through training your staff to work more efficiently, reducing overhead or suggesting how to be more productive. They can also help you target the most profitable insurance plans, or even help you transition to a fee-for-service model. Consultants can streamline numerous points of your business and generate more profit for you.
Running a Marketing Campaign
Have a new whitening service you want to highlight? Or maybe you want to reach more potential patients in your area? You may want to invest in a marketing campaign. Firms that specialize in marketing for your field can help you with everything from market research to creating or revamping your website to online, radio and other advertising. Spreading the word about your services can get and keep patients in your chair.
Covering Time Gaps
Even when you are away from your practice and not billing clients, you still need to cover business expenses. If you know you have a vacation or other event that may keep you away from your office for some time, you can supplement that gap in cash flow with a working capital loan so that your practice can run smoothly until you return. Working capital loans for dentists can be a great solution for short-term management of your practice’s cash flow and create greater efficiency and more revenue for you.
Start making improvements today! Fundation offers small business loans with flexible terms that can make a huge difference for your company. Contact us for more information on the best working capital loans and financing solutions available to you.
The information contained on this page is for general informational purposes only. It is not legal advice and should not be relied upon in making borrowing decisions. Fundation loans are subject to lender approval.
Fundation combines the benefits of a bank loan with the ease and efficiency of an online lender. We offer conventional loans with competitive rates to businesses with varying credit profiles. Our technology allows us to deliver capital in as few as 3 business days through streamlining the collection and evaluation of customer information and conducting the majority of the lending process electronically. As a direct lender, we use our own capital to originate and hold the loans we make, so that we can focus on building relationships with our customers. Our dedicated customer relationship model enables us to understand each unique borrower’s business. This level of service, coupled with our best-in-class products, is why many of our customers come back to us repeatedly for more capital.