Dr. Stephanie Mapp has been practicing dentistry for over twenty-five years. Throughout her career, she explored every facet of the industry and refused to restrict herself to just one type of practice. She developed a wide range of experience including public health, DMO practices, and high-end fee-for-service practices. Then, Dr. Mapp took her favorite aspects of each type of dentistry and built a practice of her own. She paid a lot of attention to the work she did at each practice, and while she didn’t have information about every part of the business, she learned enough along the way to build her own model. Her practice was built with her strengths and her vision at heart, and it formed a solid foundation which she could expand upon as time went on.
Think Strategically About Your Service Line
Employing a wide range of skills gives Dr. Mapp a significant advantage because she can think strategically about the services she offers. In a Florida market that has gone from six practices to twenty-six since Dr. Mapp opened her practice in 2002, strategic service lines are critical to staying competitive. One example is Dr. Mapp’s decision to add ortho to her service line as a general practitioner. Some years, she has brought in over $100,000 from ortho alone and it has been a significant profit center. Learning how to think creatively about your dental practice will enable you to excel; unfortunately, it is not something they teach in dental school.
The Business Side of Dentistry
Young dentists who are just starting out may have the technical knowledge to succeed, but dental school is not business-centric. There is a lot you have to learn along the way and not everything is as it seems. But experienced dentists struggle with the business side of dentistry as well. Whether you are an associate or a veteran, the industry is constantly changing so continuing education is key. Dr. Mapp started her consulting firm for this reason, and they focus on helping PPO practices become more profitable. As always, please visit me at www.theprogressivedentist.com for more informative podcast episodes with other remarkable business leaders.