India’s healthcare market is anticipated to escalate three-fold to Rs.8.6 trillion in FY2022, making it ideal for doctors to set up their practices. However, medical practitioners deciding to establish independent dental clinics must focus on the economic potential and strike a balance between the technicalities and skilled human resources. However, to materialise, setting up a clinic needs strong financial backup.
Owing to the exorbitant dental clinic setup, aspiring health professionals can fall back on availing a loan for clinic set up and take their practice to heights. Moreover, improved infrastructure boosts patient footfall, helping doctors earn revenue.
5 tips for running a dental clinic successfully in India
Along with providing external financial assistance, health professionals should adopt all the necessary tips for their dental clinics to make their way in this competitive sector.
Here are some tips to help:
- Availability of equipment: A dental clinic can be successful only when it integrates advanced equipment and machinery. Dentists should get their gear right and monitor the inventory closely as it affects a clinic’s efficacy and proper functioning.
- Engage with patients: Besides carrying out daily dental check-ups, try inquiring about patients eating routines and suggest ways to enhance their oral hygiene. This will help build trust between the doctor and patient and help retain patients. Client engagement is a vital parameter that determines the fate of a clinic.
- Skilled staff: Health professionals can only run a clinic successfullywith the prompt assistance of well-skilled staff. It is important to expand the dental team, including dental surgeons, denture specialists, front office staff, etc. In this context, it will prove beneficial for dental surgeons to know the tips for hiring the best front office staff for the clinic.
- Embrace marketing and technology: In this era of robust digitisation, doctors should also try to keep a social media presence, as marketing plays a significant role in the success of their dental practice. Technology has changed the course of healthcare infrastructure and is one of the major essentials of clinic management. From adopting clinic management system software, electronic health record systems, etc., to patient referral software, every facet plays a vital role in determining a clinic’s success rate.
Furthermore, an area where individuals will set their clinic significantly affects revenue. Hence, medical practitioners should also invest time searching for the right demographics depending on competition, accessibility and outdoor signage.
- Opting for a professional loan: Dentists can easily sail through the high-end expenses of setting up their clinics by availing of an effective credit option: a professional loan for doctors. Aloan for clinic setup provides a sound financial sense to medical practitioners, helping them roll out their practices and establish their clinics.
There are several features of professional loans for doctors:
- High quantum loan amount: Dental surgeons can access a substantial loan principal and use it to set up their clinic without denting one’s lifelong savings.
- Extended repayment tenor: A repayment tenor of up to 96 months is extended, making it easy for a health professional to repay the amount. In this regard, individuals can use a dental practice loan calculator to compute the EMI amount and choose the loan tenor accordingly.
To reap the aforementioned benefits, dental surgeons must know the eligibility criteria and follow the step-by-step guide on how to apply for a doctor loan.
Moreover, borrowers can check out the pre-approved offers extended by leading financial institutions like Bajaj Finserv. These offers that are available in a wide range of financial products like business loans, personal loans, etc., help expedite the loan application process. Intending individuals can check the pre-approved offers by submitting their names and contact details.
To sum up, a loan for clinic setup is a tailor-made credit option that helps dental surgeons own a dental clinic which otherwise would have been a daunting task. The credit option helps them expand their medical practice and provide better healthcare infrastructure to patients.