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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
- “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.
- Cabinetry Preferences – Costs for cabinetry can range from $5,000 to $175,000.
- Practice Management Software (PMS) – Pricing will range from a few thousand dollars to $25,000; OR none at all.
- 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 |
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