Expanding Your Practice: Dos and Don’ts
- Name of sponsoring organization: Dental Practice Management Club & Aesthetics Society
- Details of the activity (e.g., where, when): Lecture Room A 12 PM
- What you learned: I learned about the dos and don’ts of expanding a practice. It includes considering the overhead costs, P&L, number of rooms in the practice and how it affects revenue.
- How the activity relates to coursework or your career goals: I would like to own a practice one day and I learned that you shouldn’t consider expanding a practice until the first practice is stable and doing well. There are many factors involved and things to worry about since you are both the dentist and CEO. Sometimes it is better to own and expand your practice in the same location due to additional costs that goes into opening more locations.