Dr. Tracey Nguyen is the owner of Lansdowne Dental Care. She has been successfully building her practice since 2005. Her growth strategies allowed her to grow her practice by more than 120% in a three-year time frame, so obviously, I was excited to get to know a bit more about her practice. Having said that, let's jump right into the interview.
Dr. Nguyen, can you tell us a little bit about your background in dentistry?
Sure! I have been working in dentistry since I was in my undergraduate program. I worked at an office while I was studying at George Mason University. While I was in dental school, I came back home during the weekends to work. I worked for an HMO based practice for 2 years. I learned a lot about the business of dentistry during those years working in different dental practices.
I bought my own practice in 2005. The first couple of years I was more focused on managing the practice. Then I worked on building my cosmetic dentistry skills. I got accredited by the AACD in 2015. At this time, I wanted a more comprehensive approach to dentistry. I went to the Kois Center to further my education. In the last couple of years, my philosophy for dentistry has changed. While I am heavily trained in cosmetic dentistry, I am more focused on the wellness model and improving airway health. That is why I post a lot of education stuff on airway health and prevention in children. Now my education is in early muscle and soft tissue education and function and orthodontics.
When you were purchasing the practice, what were some of the criteria that you had for the practice you were going to purchase, and how did you decide on the practice that you did?
I didn't really have any criteria. I knew I was going to make the practice work based on the skills that I had gained during the time that I had worked in other dental offices. I just needed to find something that looked like a good opportunity for me.
I found a small practice in 2005 that was quite new. The doctor had orders to go to Iraq and the wife didn't want to manage the practice. I knew I was going to be able to grow the practice. It had a little bit of room for expansion since it only had 2 operatories and it could have 4 operatories. I grew the practice from about $400K to $1 million dollars in income and expanded to 4 operatories in less than three years. In 2009 I moved to a new facility to accommodate additional patients.
What were some of the lessons that you learned in your practice growth efforts?
First, understand what you are getting into. Understand how much debt you are taking on, and what will need to be accomplished to manage that debt, while still providing the lifestyle you are looking for.
Second, understand your lease. If you are planning to grow, make sure that you either have the room to grow, or that you understand your lease, and what it will take to get out of it.
Third, map out in your mind what is going to make your patients love their experience. Is it going to be how friendly you are? Is it going to be that you provide the best services available? Figure that out, and figure out what it is going to take to get there.
Lastly, always be mindful of your plan to build your dream practice, and manage your practice in a way that will get you there. Don't let fear of rubbing a few people (whether that is an employee or a patient) the wrong way if they are getting in the way of your end goal. You and you alone are responsible to make sure that your practice goes where you want it to. Find team members that will pull in the same direction as you and that will make your life a whole lot easier!
Dr. Nguyen, thank you so much for your time today. You clearly have a great sense of where you are going with your dental practice, and I think many of us can benefit from developing that same type of conviction.