The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants

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BY THE INSTITUTE OF MEDICAL BUSINESS ADVISORS, Inc.

INVITE DR. MARCINKO: https://medicalexecutivepost.com/dr-david-marcinkos-

How much will it cost you to start a dental practice – with Business Plan? 

There are many costs to consider to set up a successful dental practice. Note that the following values are not the exact amount but an average of setting up a dental practice:

• Purchase price – this includes valuation fees of between $1,000-4,500, solicitor fees of between $4,000 – 17,000, accountancy and bank fees of around $3,000, and bank solicitors, which can be up to $3,500. Many of these can be reduced or obliterated.
• Materials – $40,000
• Lab fees – $36,000
• Staff costs – $82,000
• Other costs (associates fees) – [$245,000 – $295,000]

Other Factors

1. “Big” Tech – Many startup doctors want to include CBCT or CAD/CAM or 3D printing in their startup, any of which can add $25,000-$175,000. In other situations, waiting is the best option.
2. Cabinetry Preferences – Costs for cabinetry can range from $5,000 to $175,000.
3. Practice Management Software (PMS) – Pricing will range from a few thousand dollars to $25,000; OR none at all.
4. Mechanical Delivery – Typically referred to as chairs, lights, and units, this category of dental equipment costs will range between $5,000 and $100,000 based on your startup plans.

CITE: https://www.r2library.com/Resource/Title/0826102549

Vision – Ignore the so-called “experts” who will try to create a cookie-cutter model for your equipment costs. That is the thinking of corporate dentistry. You want a customized private practice vision that allows you to create a model matching your standards. Prioritize your vision, so your values and philosophy will lead your dental equipment budget and purchasing decisions. Your equipment budget will be—and should be—customized.

BUSINESS PLAN: https://medicalexecutivepost.com/2017/08/17/business-plan-for-creatives-and-doctors/

YOUR COMMENTS ARE APPRECIATED.

Thank You

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Filed under: "Ask-an-Advisor", "Doctors Only", Health Economics, Healthcare Finance, iMBA, Inc., Marketing & Advertising, Practice Management, Touring with Marcinko | Tagged: David Marcinko MBA, DDS, dental business plan, dental office, dental office start-ups, dental start-up costs, dentists, DMD, medical business plan |