There are a few points regarding personal finance for dentists. I will elaborate on then briefly.
- Personal financial life & professional financial life of a dentist cannot be differentiated. Both of them are interlinked.
- If you want you practice to be profitable the first thing to do is to set your personal finances in order .In fact, in my consultancy the first thing I do is to start looking at the personal finances & set them right of whomever I am mentoring.
- Dental surgeons can learn orthodontics, implantology & endodontics etc by reading books & seeing videos but you cannot learn practice management by just reading books or seeing videos.
- Dental surgeons will require hand holding from a practice management mentor.
- (Disclosure:- I am in the business of mentoring dental surgeons. As would be obvious for a fee).
- Practice management mentor will start analyzing the current finances, draw up a short term, medium term & a long term plan, both for personal finance as well as for professional finances. He will evaluate & modify them at regular intervals. The whole process takes time & there are no immediate results. If you work hard it takes a life time to build up a practice. If you work smart it might become profitable.
For help on any personal and professional financial issues send a email to : admin@dentistrytoday.info
Regards,
Dr. Veerendra Darakh.
