Endodontist Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Endodontist Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start an Endodontist business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready!
- Complete Industry Research
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PDF Format
- Meets SBA Requirements
Endodontist play an extremely important role in the field of dentistry given that they are able to assist individuals that have root canal problems. Although many dentists are able to treat root canal, there are often times when an endodontist needs to be hired given a large amount of complexity that is associated with the case. Approximately 3% of all dentists go into this type of specialty. These practices are highly lucrative given the very substantial fees that are associated with root canal therapy, and the placement of crowns. The per patient treatments for this type of service can easily range from $2,000 to $3,000 or more. This dental specialty is expected to remain in high demand over the next 20 years given the fact that many people from the baby boomer population are beginning to have substantial issues with their teeth. In fact, by the age of 50 more than 50% of people do require some form of root canal treatment. One of the nice things about operating as an endodontist is that while the fees associated with the services are very high, they are typically always covered under dental insurance and Medicare. As such, these businesses are able to remain profitable and cash flow positive at all times.
An endodontist business plan should be developed if the practitioner is looking to secure a business loan from a financial institution., All financial institutions are willing to put up the necessary capital in order to get this type of business off the ground. In fact, many financial firms will allow an endodontist to only put up 1% to 10% of the total amount needed in order to get a new practice off the ground. This is primarily due to the fact that these businesses are highly economically secure. The endodontist practice business plan should include a three-year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page.
As it relates to industry research, there are approximately 195,000 practicing dentist within the United States and about 5000 of these people specialize in root canal therapies. Each year, dentist generate in excess of $130 billion of revenues from their services. The industry Outlook is very strong given newer technologies that allow for affordable dental procedures. Within the business plan, a special amount of attention should be paid to the demographic profile of people that will need root canal surgery. This includes examining population size, population density, median household income, percentage of people that have dental insurance, percentage of people enrolled in Medicare, and percentage of people that are over the age of 50. A special focus should also be paid to the number of people that have reached the age of 65 and require more complex dental procedures. Within the business plan as well, a competitive analysis should be done in order to see what other endodontist are operating within the area. Given the highly specialized nature of the services, there are typically only a handful of practitioners have specialized in endodontics.
An endodontist practice SWOT analysis should be produced as well. Foremost, as it relates to strengths – endodontics are always able to remain profitable given the highly unique root canal services they offer to the general public. These businesses are able to produce income not only from patient co-pays but also from insurance and publicly funded healthcare systems. There revenues do not change during economic recessions.
For weaknesses, endodontist to have a significant amount of liability given the fact they are performing surgery on someone’s jaw. As such, one of the higher operating expenses associated with this business is the appropriate carrying of a malpractice policy. The payroll for an endodontist practice can be also high given the fact that a number of specialized dental assistants need to be on staff in order to render the services.
As it relates to opportunities, and endodontist can rapidly expand their operations by hiring associated dentists that can render complex root canal procedures. This is typically one of the few ways that these practices are able to expand. Additionally, additional locations can also be established in order to service a greater market area.
The biggest threat that is faced by endodontist practices are changes in reimbursement schedules among insurance companies and publicly funded healthcare systems. However, given the strong demand among patients for the services – even minor clients in in reimbursement rates will have only a modest impact on an endodontist practice ability to generate revenues.
An endodontist marketing plan should be developed and a substantial focus should be on developing ongoing relationships with referring dentists. Given that many dentists will often provide root canal surgeries on their own – it is imperative that dentist be able to refer very complicated cases specific for an endodontist to complete. This is the most important way that a root canal focused dental practices able to generate revenues. Of course, a proprietary website also needs to be developed in order to showcase the services, insurance is accepted, referrals required from general dentist, profiles of staff endodontist, hours of operation, and location information. A presence on social media, while not necessary, may provide a modest boost the visibility for an endodontist practice. This is not typically something that a person conducts a substantial amount of searches for, and as such a great deal of focus for an endodontist looking to establish their own practice will remain with maintaining very strong relationships with a local and regional dental community.
Endodontics is one of the more exciting specialties in the field of dentistry. The demand for the services will continue to grow as not only the population grows but also as the population ages. This is a highly specialized form of dentistry, and given this fact only a handful of endodontist typically operate within any given regional market. As such, the job outlook as well as the business outlook for providing endodontic therapy services to the general public is very strong.