Your dental clinic undergoes a crisis not only when it fails to bring in patients but also when it cannot accommodate them in your waiting room. Expanding your clinic with better facilities can solve both these issues.
However, you’ll require additional funds to finance your expansion as utilizing your working capital or savings can hamper the cash flow in your business. A loan for the dental clinic is one of the best solutions to meet your financial needs.
It’s a specialized business loan usually customized for dentists and offered by NBFCs. You can take advantage of these loans in any way, from expanding your clinic to renovating it.
Some of the strategies you can implement to grow your dental clinic using a loan include:
1. Use dental software
Dental practice management software is a tool that helps you manage all activities of your clinic effortlessly. A few of the top medical software in India can provide the following applications:
- Medical services
The module for medical services help you keep track of your patient health records, manage treatment plan, store images & x-rays, organize clinical notes, and also get a complete overview of every patient.
- Practice services
The practice services module offers you the option to keep a record of the financial condition of your clinic. This module also lets you assign specific goals to your team members.
- Front office services
With this module, your front office executive gets to schedule appointments, manage payment processes, store and retrieve documents, send instant messages to patients, schedule monthly tasks, etc.
2. Implement new equipment and instruments
A loan for dental clinic comes with sufficient funds to purchase new tools and devices. For example, a multi-function dental chair. A state-of-the-art dental chair can come with rotor points, supreme micromotor, modular delivery system, x-ray viewer, ceramic spittoon, and chair controls.
Some other instruments that you can opt for are:
- Intra-oral cameras.
- Endo motors.
- Curing light.
- Water flosser, etc.
Such equipment not only makes your job easier but also lower the time to deliver it. There are various reasons to upgrade your medical equipment, attracting new patients being one of them.
3. Move to a new location
Moving to a new area means expanding your medical services and reaching out to more patients. When doing so, make sure that this new location is more accessible to your patients. They must be able to reach your clinic not only with their private vehicles but also with public transport conveniently.
Such a prominent location calls for considerable investment whether you buy or lease the space. This is when a loan for the dental clinic can efficiently cover your expenditure. You can avail up to Rs. 30 Lakh with these loans and fulfill your monetary requirements.
4. Recruit adept professionals and grow your staff
Hiring more junior doctors and medical assistants helps you cater to more patients at a time and cut the queue. It also has a direct impact on the growth of your dental staffing agency.
5. Transform your clinic into a reliable brand
Branding is one of the main strategies that businesses invest in the market themselves. You can also adopt branding to make your clinic more prominent.
Having a logo and marketing strategy are two significant aspects of branding that can aid your practice to grow.
6. Build a website
Your patients may book an appointment or inquire about your services over the phone. However, your phone lines are not available 24x7. In such cases, a website can help you out. A website enables individuals to check their services and schedule an appointment anytime online.
Plus, it can also help your clinic become more prominent on the digital platform. Thus, individuals will come across your practice when they search for dental services online.
So, apply for a doctor loan and utilize it for diverse purposes to expand your dental clinic. Do check and compare the interest rates of loan for dental clinic before you apply.