On Friday, July 13 Dr. Bobbi Stanley presented a course on Small Business Ownership for Dentists to clinicians from across North Carolina. The event was hosted by Live Oak Bank and supported by industry partners.
The course centered on a subject not focused on in dental school—how to run a dental business. While most clinicians are fully confident in their technical abilities, the responsibilities of running a business can be overwhelming. Dr. Bobbi Stanley and her husband and business partner Dr. Robert Stanley have successfully owned one of the North Carolina’s oldest and largest comprehensive dental practices for more than 25 years. “Over the years, I’ve simply had to learn along the way because there were very few business courses for dentists,” said Dr. Bobbi Stanley.
At Stanley Institute, we prompt students to shift their mindset. Dentists must realize they are small business owners offering a service of dentistry. Every dentist owns a small business—associate, partner or sole proprietor. This often means clinicians have two full time jobs and it’s easy to be consumed by your practice. Stanley Institute provides straightforward, sound business information that doctors can use immediately upon return to the office.
Dr. Stanley discussed using tools like Practice Analysis from Henry Schein to honestly evaluate and control overhead and operating expenses to improve net profit. She also reviewed patient financing alternatives with more favorable terms than traditional lenders like Care Credit.
Dr. Bobbi Stanley has been practicing dentistry since graduating from the University of North Carolina School of Dentistry in 1993. She is now an Adjunct Professor of Prosthodontics at her alma mater and was elected a 2017 Leader in Continuing Education by Dentistry Today. Ready to take your dental business to the next level? Join us at our next business course for dental entrepreneurs.