how to convert to private practice

It is undeniable that, for many dental practitioners, weathering the recent economic maelstrom was made easier through favourable NHS contracts with their “generous” UDA values and secured cashflow. However, the combination of Warburton contracts, HTM0105, public sector cuts and rationing to deal with rising demand for health services, has the potential to create a perfect storm of issues that put severe pressure on the financial viability of dental practices and their ability to maintain high standard care for their patients.

So it seems likely that there will be no shortage of reasons to want to leave the increasing pain of the NHS to the corporates. The challenge, therefore, is how to take such a step in a way that doesn’t make a bad situation worse and leaves you wondering why you didn’t make this break for freedom earlier in your career.

So where do you start? In the words of business guru Stephen Covey, you should “begin with the end in mind”, so be clear about the direction you want to go in and the kind of practice that will keep you happy and motivated. Yes, I know, I’m getting dangerously close to using the “v” word but applied properly and not in a token “just read a management book” way, the creation of a “vision” for your practice gives you and, as importantly, your practice team, both focus and motivation.

It may not feel like it right now but it’s my belief we are entering an exciting and fascinating time for dentistry that will see the emergence of ever more diverse business models. Finding the right mix of being a clinical generalist or specialist, in health or beauty, a traditional family or niche practice, means the range of choices can be bewildering and you have to pick out a combination that’s most appropriate for you and your patients.

Your colleagues around the UK will be the best source of ideas as many of them will have tried and tested business models already operating successfully. Finding them isn’t always easy so working with a plan provider such as Practice Plan can help enormously. The experience of helping hundreds of NHS dentists make a success of private practice means Practice Plan can steer you towards case studies that are relevant for you.

That experience is also invaluable in helping you plan and prepare for the achievement of your goal in a way that draws on lessons learnt about how to maximise the success of NHS practice conversions. For example, we can assist with involving your practice team in the shaping of your vision to give them a sense of ownership about the forthcoming transition. We can help by setting the right hourly rate, which requires consideration of a range of factors. We can help to determine the most suitable method of signalling the change to your patients, whether that’s through a mailshot, recalls, or just talking to your patients as and when they come in.

The recession has highlighted the benefits of membership plans in maintaining cashflow and securing both private patient loyalty and regular attendance so selecting the right range of plans for your practice is an important step. And then there’s the question of when to take the plunge, which requires careful thought.

For most, the transition is all about confidence and working with a plan provider such as Practice Plan can give you the confidence to know when the time is right for you.

If you would like to find out how Practice Plan could support you please call 01691 684135.

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