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Dental care is not cheap. And unfortunately, millions of families in America lack basic dental coverage to help defray the high costs of oral healthcare. This has produced a serious public health issue throughout the country. Starting a low income dental practice is an altruistic business model that could pay off for the right dental entrepreneurs. Find out all you need to know about becoming a low income dentist below to start providing services to those who need it most.
A Neglected Epidemic
The widespread prevalence of poor oral health has become such a growing concern that, in 2000, the U.S. Surgeon General referred to it as a “neglected epidemic.” Now, 19 years and no female president later, oral health problems are even becoming prevalent among middle-class Americans. This presents a huge subset of the population that is lacking access to dental healthcare. Ultimately, that means there is a high demand for low cost dental services across the nation. Low income dentists, like the you hope to become, are the only practicing professionals that can answer this demand. High demand for low income dental clinics presents a great business opportunity for practicing dentists to capitalize on.
Lasting Impacts
The lasting impacts of poor dental hygiene is of concern to the country’s government, its citizens and dental practitioners like yourself. According to Pew, tooth decay, left untreated, can lead to such severe pain and infection that it produces life-lasting, negative consequences for socializing, eating, sleeping and speaking. This will only serve to further reduce the percentage of the population that is physically capable of being productive members of the workforce. By starting a low income dental clinic, you can provide the necessary oral care that help stem the tide of unemployed Americans in need of benefits. Further, you can make a real difference in the lives of your patients. That way, they can lead productive, fulfilling lives. If you are an altruistic entrepreneur, this is surely of value to you.
Grant Potential
Grants for low income dental clinics are available through government programs and non-governmental organizations. That presents a multitude of outlets for you to find financing for a dental practice startup. These are also available through the Canadian government for those dentists north of the border. For dentists with limited access to business funding, this could put the dream of opening your own dental practice within reach. By offering dental services to low-income communities, you can get access to the capital you need to start your own business. These financial avenues will not be available to you if you choose not to offer dental care to low-income populations. This is a considerable advantage for entrepreneurs lacking access to capital.
Positive Community Impact
By starting a dental practice for low income populations, you can have a real and lasting positive impact on your local community. For a philanthropic entrepreneur, this advantage is unmatched. Providing low cost dental services will improve the health of your local community while still offering you with a profit. These positive community relationships will only serve to benefit the brand image of your dental business. Ultimately, that will make it easier to grow your dental practice beyond solely low-income communities. All in all, the positive community relationships you build by improving the health of local citizens will benefit your business revenue as much as it benefits the community.
Medicaid Payment
Medicaid payments are payments you can rely on. The same is not always true when payment is coming from private dental insurance companies. Private insurance companies may be more likely to dispute charges. They are also much more likely to drag their feet before paying customer bills. Medicaid billing is a well-oiled process. When you provide dental services for Medicaid patients, you can be sure to expect payment to arrive in a timely manner, consistently. You will have less hoops to jump through to receive payment for provided dental services. Philanthropic entrepreneurs can experience financial and moral advantages by opening a dental practice that services low-income communities.
If you are a dentist who cares about the oral health of their community, starting a low-income dental clinic could be a satisfying and lucrative business endeavor, similar to starting a pardons business. Consider the industry facts detailed above. The oral health crisis in America create a high demand for low-income dental practices that you can capitalize on. In addition, you can have a lasting positive impact on your community by offering oral healthcare services to Medicaid patients and still get paid on time. These business facts make opening a dental clinic a smart business decision for dentist entrepreneurs. Sometimes, it pays to be an altruistic entrepreneur turned philanthropic business owner.
