Four Questions to Ask When Making Reinvestment Decisions
1. Is it right clinically? A strong ethic for ideal patient care is the driving force of a successful practice. Scrutinize any potential purchase through the lens of your vision and philosophy, and make sure its advantages support your standards of clinical excellence and client value.
2. Does it help the practice grow? A truly worthwhile addition to the practice should also contribute to growth. This can be measured in a number of ways, including an increase in clinical speed, case acceptance, patient retention, or new patients.
3. Does it provide a good return on investment? This sounds like a no-brainer, but sometimes you have to look closely to see the true value of the return. With technologies such as digital radiography, which give you a precise break-even number to work with, it’s easy to run the numbers. However, the return on something such as your management software system may be harder to pin down, but the economic benefits are just as real and should be factored in to your deliberations.
4. Does it fit into my short-term and long-term future? Other than your chairs, most technology you buy today will be replaced over three to eight-year cycles. So what you choose right now may (and should) evolve into something else before too long. So buy for today, but with an eye on the future. Be aware of where the trends are taking dentistry and don’t buy into technologies that are on the road to obsolescence.
Finally, remember that having the best technology in the world doesn’t mean much if you’re not prepared to learn to use it to your best advantage. Dental school does a great job of providing foundational learning so you can open your doors and get to work. And the ever-evolving world of high-tech dentistry is always inventing exciting ways to enhance and supplement those foundations.
If you really want to be a part of the forefront in this industry, you simply must get out there among the leaders in the field—and the leaders among your peers—and discover how the best minds are using advanced technology to achieve amazing results. After all, the most important and adaptable unit of sophisticated circuitry in your practice is the one between your ears.