This week on Dental Fuel, we're sinking our teeth into the financial facets of dentistry with Dr. Fatmi. Ask yourself, are you chasing the latest in dental tech and trends like Botox & Juvéderm for the right reasons?
Dr. Fatmi challenges us to rethink our investments – and ask yourself, “Does it truly serve our patients?” Or does it just serve our desires for the newest gadgets and procedures. Let's get real about managing our practice's finances without compromising on quality care.
About the Guest:
Dr. Naved Fatmi is a highly regarded dentist based in the southern area of Boca Raton, Florida. An alumnus of the University of Florida, graduating in 2009, Dr. Fatmi has a robust professional background in dentistry. He has successfully opened and managed multiple practices, growing his ventures to five practices, though he currently owns three. Alongside his role as a practicing dentist, Dr. Fatmi is involved in academia as a faculty member at Palm Beach State College and offers lectures at the University of Florida on the business aspects of dentistry. His commitment to his profession extended to serving on the board of the College of Dentistry, holding the position of chairman in the tenure from 2015 to 2025.
Episode Summary:
In this illuminating installment of Dental Fuel, Dr. Naved Fatmi returns to delve into the oft-overlooked topic of financial mistakes in dentistry, focusing specifically on continuing education and technology investment. His candid discussion with Tanya Sue Maestas offers valuable insights into the pitfalls that dentists can encounter when aiming to be a 'super GP'. The episode is a treasure trove for dental professionals seeking to make informed decisions about their practice and personal growth.
The conversation begins with Dr. Fatmi reflecting on his own experiences, highlighting the cost of pursuing an extensive range of dental services without a strategic approach. He emphasizes the delicate balance between investing in new technologies for patient care versus personal fulfillment. The episode transitions into a deeper exploration of Dr. Fatmi’s journey from clinical mastery to mastering the business of dentistry. He shares invaluable advice for young dentists on choosing continuing education courses and understanding the financial implications of running a multi-practice business model versus focusing on a single practice.
Key Takeaways:
- Investing in a wide array of dental services without a clear strategy can lead to financial strain and a decrease in the quality of care.
- Understanding one's personal limitations and professional goals is crucial before expanding into multiple practices.
- Continuous education should be a blend of improving clinical skills and learning the entrepreneurship side of dentistry.
- The standard of care must remain high, and ethical considerations should always guide treatment decisions.
- Networking with like-minded professionals and joining industry organizations can provide valuable financial and business insights.
Connect with Dr. Naved Fatmi: @drnavedfatmi
Connect with Ignitedds: @ignitedds
Connect with Tanya Sue Maestas: @tsmaestas.dds
