Dental care in India still suffers a significant shortage of medical professionals despite the enormous growth in the nation’s healthcare industry. Statistics by the World Health Organization shows that there is only one dentist per 10,000 people in India. This creates a huge gap between patient demand and the availability of doctors.
It also creates an opportunity for new graduates to start or expand their practice. Thanks to the availability of loan for dental clinic and other types of credits for medical practitioners, dentists can now stay worry-free and cater to more patients while expanding their reach.
How to expand your dental clinic?
Expanding your practice involves reaching out to more patients, creating a proper infrastructure to accommodate them, and equip your practice with the latest equipment to provide complete and accurate healthcare. The financial burden can be reduced with a loan for doctors. Lenders including various NBFCs offer up to Rs. 2 Crore to finance your dental practice or as a dental equipment loan. You can avail this mode of financing and expand your service.
Let’s take a look at how you can utilize the funds.
- Renew the existing infrastructure – You can pay for new infrastructure with dental practice finance. It will allow you to provide room for more patients or new equipment.
The huge funding also allows you to open a clinic in a new location. There is a great demand for quality dental healthcare, especially in rural areas. A loan for the dental clinic will allow you to purchase or hire property to start your practice.
- Integrate the latest technology – The field of medical equipment has progressed a lot in the last decade. Digital dentistry can prove to be the future of your dental practice. Tools that allow you to make a more accurate diagnosis and perform procedures using mechanical means are gaining popularity and becoming mainstream. You can improve your earning and service if you integrate such tools in your clinic.
However, such equipment is often imported from other countries which makes them expensive and puts a significant financial burden on the practitioner. A doctor loan can provide financial backing in such situations and allow you to buy CAD or CAM devices for bio-printing, lasers, electrical and surgical implants, tomography equipment, etc.
You can enjoy a rise in revenue once you start offering advanced treatments to your patients. For example, laser dentistry, the next generation of dental surgery, allows you to heal wounds in a patient’s gum, perform bleaching or restorative removal, remove hyperplastic tissue, etc. easily. Patients will prefer clinics which provide such services quickly and at affordable rates. Hence, introducing new equipment will help you expand your dental clinic.
- Invest in advertising – Proper advertising is a significant way of making your business visible to potential customers. Attracting new customers is the key to expanding your practice both in densely and sparsely populated locations. With a large amount of a loan for a dental clinic, you will have enough funding to pay for advertisement even after you pay for expansion or overhauls.
Companies like Bajaj Finserv also provide pre-approved offers on these loans along with on personal loans, business loans, home loans and a range of other financial products. Such offers help you save time as these simplify the process of availing funds. You only have to provide some necessary information online to find your pre-approved offer.
A loan for a dental clinic is a great way to finance the growth of your practice and all other requirements without any hassle. Only make sure to evaluate your purposes and apply for the loan amount which can sufficiently meet your financial necessities.