As would be obvious the most obvious sign of a dying practice would be decrease in carry home income. In fact even if carry home income is steady it means that in effect you are earning less then the previous year because of inflation.
The carry home income must increase regularly & the increase must be commensurate with inflation.
There are some other signs which you can look for :-
· Are the patients in your practice only from one particular ethnic group or community? A mature practice will have patients from diverse ethnic groups. This is especially applicable in cosmopolitan cities.
· Quality Dentistry is usually not affordable to the lower middle class & lower socio economic strata. If there are patients in your practice who have to dig deep into their wallets to afford your skills it means that your skills are been well accepted by the community at large & patients don’t mind a temporary financial inconvenience to afford your dentistry.
· Another thing to look for is wild variation in the number of patients or professional receipts month to month. Weekly variation is inevitable. The professional receipts & the number of patients must be increase & the increase must be perceptible at least over a quarter.If there are wild variations in the professional receipts or the number of patients it means that certain aspects of the practice requires improvements.
Hope this helps……….
Thanks & best regards,
Yours Sincerely,
Dr. Veerendra Darakh.
