Step 3 to building and maintaining your dental practice value is creating a technology investment plan. Keeping your practice equipment and technology up-to-date is critical to the future value of your business – but more importantly, it’s imperative to the comfort and well-being of your patients. Advanced technology usually means more and better options for patients. When you can deliver better options, your patients have a strong incentive to keep coming back.

Consumers today are savvy shoppers and understand what current “best practices” are. With social websites that encourage the sharing of personal ratings of business services, they may have instant input on what’s available from your competition. If you are not staying current with the latest offerings such as laser injections and teeth alignment services, your practice may lose not only some of its equity value, but its stable patient base as well.

Regularly investing in new advancements in dental equipment is an important means of remaining competitive while meeting your patients’ needs for best quality care. A technology investment plan is fundamental to maintaining practice relevancy and value over time.

Click to read  Maintaining Practice Value Series.