The word “private” is defined as, “carried on by the individual independently of the usual institutions, restricted to the individual or arising independently of others”.
These words are actually a very precise meaning as to what it can be to have a private dental practice. In a single word—independent—the meaning of private practice is defined. Is this a good thing?
Trending Toward Big Dental
We are currently in the midst of a healthcare culture where the majority of practices, whether medical or dental, are NOT private practice.
The initial move towards corporately-owned practices is understandable when viewed from the fiscal and management perspective.
What It Takes To Stay A Private Practice
Owning a private practice is not for the faint of heart. Not only does it require the necessary skill to perform the actual task of the work in the practice, whether it be surgical and technical skill and/or communication and guidance skills with patients, it also requires the wearing of multiple additional hats. For example, a normal day in private practice dentistry involves not only taking care of patients with integrity and excellent clinical skills.
It also involves managing a team of employees, maintaining and monitoring all equipment, staying updated on the latest technology and academic studies, managing the financial obligations of the practice, and being a visionary for the future of the practice. This requires a tremendous amount of personal resources and dedication to the practice itself.
In addition, the resultant work is to provide for the families of the team as well as the owner. This is a tremendous responsibility to place on one person.
Why Doctors Benefit from Corporate Dental
Is it a burden? It certainly can be… So, why would anyone choose to take all this on themselves?
This responsibility can explain why dentistry is 2nd on the list for top suicide rates among professions, only behind medical doctors as 1st. The burden of all the hats is the motivation towards corporately owned practice.
Once the corporation owns the practice, all the doctor has to do is show up.
No more managing the team, no more maintenance and investment in equipment and technology, no more responsibility for the overwhelming financial obligations of the practice.
Just show up and treat patients.
But wait, if it sounds too good to be true, it probably is. What is the catch?
Why Corporate Dental can be Worse for Patients
Corporately-owned practices are just that—corporations.
Corporations exist to benefit the shareholders, and this is no different in healthcare. And the shareholders want a profit. By definition, shareholders have no interest in the ethical treatment of the patient, the level of care provided, the necessity of the care provided, or the intent behind the care provided. The shareholders’ interest is only in profit, or the corporation ceases to exist.
Therefore, the employee doctor’s interest has to be focused on profit as well, or the employment will cease to exist.
This may only be one hat to wear, but for the provider who has dedicated his or her life to taking care of people in a compassionate and ethical manner, this hat is much heavier than the multiple hats of private practice.
Thriving as a Private Practice
So how can a private practice dentist uphold the responsibilities of the practice and handle it as a gift and not a burden?
I have discovered that only by not doing it alone am I able to truly understand the honor of having a private practice.
Although the very definition of private practice is owning the practice alone, that doesn’t necessarily mean doing it alone.
I did it alone for almost 15 years. I was beaten down and discouraged and on the brink of quitting dentistry.
Then, I happened upon a coach who changed my life.
This man opened my world to the possibility of joy in private practice ownership. He taught me to lean on my husband for support, to seek team members who had a heart to support the practice and the patients, to search for other like-hearted professionals who could share the same struggles and offer solutions.
One of the best resources he introduced me to is the Academy for Private Dental Practice (APDP).
The APDP is a tribe of private practice dentist owners from across the nation who gather once a year to discuss, encourage, and mentor one another in this noble profession of dentistry.
It’s is a source of support, communication, and fellowship with others in the profession who are striving to have fulfilling and rewarding careers.
It has been a source of inspiration to be a better leader, a better business owner, a better healthcare provider, a better dentist.
Private practice does not have to mean doing it alone.
The Academy for Private Dental Practice is an integral part of having a network of support, allowing me to be interdependent in my independent practice.
