Investing in Your Dental Practice: What You Should Consider First
Investing in new equipment for your dental practice, whether through a line of credit, a Flex Pay loan, or a working capital loan, is a sound idea if you want to stay ahead in the industry. Since an investment of any type can be a huge cost up-front, it’s also important to consider certain things prior to making any type of investment decision. You want to make sure the money you’re going to put into your practice will benefit your business in the long run, not just be a quick fix.
Ask yourself if your investment will…
Improve Patient Outcomes
Doctors today are under extreme pressure to ensure the best possible patient outcomes. Patients are more likely to come to your practice if it has a reputation for providing exceptional care. Value-based care, which is a form of reimbursement tied to care quality rather than quantity, is a key component to top-notch patient satisfaction. In short, this model is focused solely on patient outcomes. Will the investment you’re considering pave the way to improved patient outcomes?
Reduce Expenses Overall
Initial investments are pricey. The sticker shock can be enough to turn a lot of weary doctors away from the very thought. But if the up-front cost of your investment will drive down your practice costs down the line, it may be worth it. Consider investing in expanding your practice to include more dentists and hygienists; sure, you’ll be dishing out a ton of money for salaries, more equipment, and possibly a bigger location. You’ll also be able to take on more patients, which equals more revenue.
Keep Your Practice Ahead of the Game
The constant improvements in technology and advances in dentistry techniques are tough to keep up with. That’s why it’s critical to ensure your practice is keeping pace with the ever-changing dentistry landscape. Will the investment you’re considering help you stay ahead of the curve? You don’t want to be left behind when a competitor is able to implement that new technology before you—that may result in a loss of existing clients who would rather go to a practice that has the latest treatment options.
When considering a small business loan, things like low rates and fixed payments are just some of the benefits you’d expect. But when you work with ARF Financial, you’re getting so much more. Our seasoned loan consultants have decades of experience in industries across the board. You’ll be assigned a personal consultant who will be with you every step of the way, beyond when all the ink is dry. They’ll help create a loan that’s tailored to your specific needs. And best of all, they’re local to your business.
ARF Financial has great relationships with banks from coast to coast, allowing you to secure the funds you need quickly—no collateral required. We can get you the money you need in as little as 24 hours. Sound like something worth pursuing? Apply today to see how much you qualify for!