ENTERPRENEURSHIP IN MODERN DENTAL

PRACTICES

DR. WINFRED W. MGAYA

DDS- AGA KHAN HOSPITAL
TANZANIA ORAL HEALTH FOUNDATION
 Contents
• Introduction
• Definition of terms
• Pillars of entrepreneurship
• Entrepreneurship in dentistry
• Transition from a dentist to entrepreneur
• Entrepreneurship in Tanzania
• Final thoughts
 Introduction
• When you think of dentistry, entrepreneurship
should be one of the first things that enters
your mind. Most healthcare professionals
obtain their training and transition to working
in established hospitals or large-scale
practices. In stark contrast, dentists often
graduate and start or purchase private
practices—essentially owning small
businesses.
 Definition of terms
• Entrepreneurship is the process of setting up a business or
businesses, taking on financial risks in the hope of profit.
• An entrepreneur is an individual who creates a new business,
bearing most of the risks and enjoying most of the rewards.
• The term entrepreneur implies qualities of leadership,
initiative, management abilities, and business teambuilding.
• These are essential attributes through which the
entrepreneur develops a business plan, acquires the
manpower and other required resources, and is fully
responsible for its success or failure
 Pillars of Entrepreneurship
• Passion
• Fear
• Risk
• Opportunity
“In the absence of fear, there is no risk. Risk is
the chance that something will go wrong. We
try to understand it, quantify it, and
incorporate it in our plans as if we could
reduce it or eliminate it.”
• Dentistry is all about providing services and
care but it is entrepreneurship that makes the
difference in it.
• Dentistry and entrepreneurship are different
from each other but they can be merged for
the betterment of the practice
• Quality of dental practice has improved so
much since entrepreneurship has been
introduced in it. Entrepreneurship has paved
way in making use of market opportunities,
planning and management of different
resources involved in dentistry.
 Entrepreneurship in dentistry
Dentist + Entrepreneur = Dentist-preneur
• Entrepreneurs are the leaders willing to take risk
and initiative in making use of market opportunities
by planning and management of resources.
• Dental surgeons/Dentists aspiring to enter into
entrepreneurship must modify their personality by
improving self-belief, desire to prove, creative
thinking, practical approach, persistent efforts, risk
taking ability; these are some of the qualities one
has to develop to be a successful entrepreneur.
• Entrepreneurship is also associated with
innovations and start-ups which are very
common in other fields
• One must appreciate the intentions of the
innovators have been to improve the quality
and experience of dentistry for both patient
and clinician; thus improving the “quality of
life” of the patients.
• There are various factors which must be considered for successful
conversion of a private practice into an enterprise such as:
 Understanding the need of the society
 Mastering the treatment skills
 Communication skills
 Updating knowledge and new trends
 Patient satisfaction
 Mouth publicity
 Management of support staff
 Maintaining professional network
 Financial viability.
• HOW DO WE MOVE FROM BEING A DENTIST
TO AN ENTREPRENEUR?
Here are the 5 ways of transitioning from a dentist to a dental entrepreneur:
1. Opt for co-branded dentistry: This is probably the easiest and simplest
way to become a dental entrepreneur. Over the last decade, there has
been a significant change in the business model of dentistry. From
privately owned solo practice to corporate dental chains, dentists are
mainly opting for these two categories of dental clinic. However, both
these categories come with a fair share of risks and limitations. In a solo
practice, dentists have to bear the administrative burden as well as the
financial investment. On the other hand, in corporate dental chains
dentists work as employees without any share in profits. Opt for a co
branded dentistry model where you can own your dental practice yet
receive administrative infrastructure and support with all the non-clinical
aspects of practice by the franchisor
2. Understand the challenges and solutions:
Understand the challenges faced by dentists in
the industry. Connect to successful dentists to
learn how they have tackled those challenges.
If there is a solution that can be implemented
across clinics and if this can be monetized,
then a good business idea is in hand
3. Continued dental education: Once the formal
education is completed dentists often get very
little prospects in learning about new
advances in dentistry. This provides an
opportunity to create a platform where the
dental fraternity can enroll and get education
and knowledge about the latest developments
in the field.
4. Introduce innovation: A dentist can bring about innovation
by creating technologies/ services to enable dentists to
become more successful. The innovations can either
improve productivity/or quality, enhancing the overall
services provided to the patients. These innovations can
solve basic challenges like appointment management,
managing dental records, patient feedback, patient
retention and education systems etc.
5. Bridge the gaps: Study successful practices across the world
to understand gaps in the market. Understand the feasibility
and implement existing proven solutions in practices where
the gap exists.
 Entrepreneurship in Tanzania
• Tanzania has had a number of initiatives launched in both
the public and private sectors that have been developed to
foster entrepreneurship, decent work and economic growth;
• These initiatives have provided opportunities for
employment and creation of jobs through education, skills
development and access to financing programs.
• This is particularly important given the country’s rapidly
growing population, where more than two-thirds of the
population under the age of 25 and a quarter of those in the
15–34 age bracket are underemployed (World bank report,
2017).
Opportunities of self employment in dentistry
The opportunities for self employment may be;
• Private dental practice,(group or solo)
• Consultancy,
• Retail shops for dental materials and
equipment
 Final Thoughts

• Our Tanzanian government is promoting

entrepreneurship through different campaigns
and operates many schemes for the benefit of
existing and prospective entrepreneurs.
• Dental graduates must take benefit of such
schemes and pursue their career in a
successful entrepreneurship through learning
and seek opportunities to start their
businesses.
 References
• https://www.jdas.in/downloadpdf.asp?issn=2
277-4696;year=2014;volume=3;issue=2;spage
=69;epage=69;aulast=Palaskar;type=2
• https://dentalreach.today/dental-practice-ent
repreneurship/
• https://journals.co.za/doi/pdf/10.10520/AJA0
8560625_335