What Grants for Dental Offices are Available?
Grants for dental offices help to overcome cost obstacles. It makes it easier to board trained staff, acquire the latest equipment and move into a desirable location.
Costs can be prohibitive that makes even the most well-established dentists struggle. Dental offices cannot be managed alone. You need to find someone suitable for operations. Also, it is critical to serving the needs of the patients with the latest technology that requires advanced equipment. There are many dentists who are unable to meet the requirements of their patients that impact their business. Grants for dental offices help such dentists to keep themselves updated and assist startups with the required funds.
Grants for Dental Offices – Running a Successful Dental Office
While considering a career in dentistry, you might be wondering what it takes to run a dental office successfully. Besides time and hard work, it needs a lot of money.
Let us learn how much effort and money is required to run the day-to-day operations.
Cost of Leasing or Buying a Dental Office
The dentist usually requires 2,000 square feet of office space. While the actual cost varies depending on the location and area of the dental office, in general, it costs approximately $150 per square foot. Enough space is required to hold large equipment and rooms dedicated to specific things such as restrooms, patient exams, x-ray areas, image developing, waiting room, reception area, dentist’s personal offices, etc.
Besides this, the cost of construction also needs to be considered. This includes rough construction, electrical, proper plumbing, and interior furnishings like cabinetry, heating, cooling, air ventilation, etc.
Cost of Dental Equipment
Modern dental equipment, including a dental chair, x-ray machine, and its developer, is extremely expensive. Machinery, imaging systems, dental drills, computers, laser scanners, etc., add to the costs that can reach the mid-six-digit range.
Dental Office Employee
To run a dental office smoothly, at least one dental assistant, hygienist, and receptionist are required. The cost of wages depends on the number of employees and their certification and profile. Thus, one can say that employee wages are bigger expenses for dental offices, costing around 25% of total annual income.
Laboratory fees include access to the dental gear created by labs for patients. The items like crowns for teeth, bridges, retainers, mouth guards, and others add to the expenses. Other dental office expenditures involve insurance, license renewals, continuing education costs, etc.
A dentist who wants to open their office or already running their practice has to put in a lot for equipment, lease or rental space, staffing, and student loans. The available grants for dental offices can be benefited to meet the high costs of running a dental clinic.
Grants for Dental Offices – Dental Practice Financing
There are times when your practice begins to struggle to cover everyday costs. Also, it becomes difficult for startups to pay for their expenses. Grants for dental offices help in meeting the declining revenue and limited solutions.
The Small Business Innovative Research (SBIR)
The SBIR program under the National Institutes of Health funds early-stage small businesses that are looking to commercialize innovative biomedical technologies. It helps small businesses to participate in research and development, develop life-saving technologies, and create jobs. For more information, visit https://sbir.nih.gov/apply
Dental Purchasing Group (DPG)
The DPG is a member-driven organization, serving both independent and group practices. They can enjoy the purchasing power, as well as the sheer variety while working with hand-selected vendors. The cost savings programs are designed to build dental offices profitably by improving overall revenue and reducing costs. To browse the cost savings programs, visit http://www.dentalpurchasinggroup.com/
Delta Dental Foundation
Delta Dental companies fund various programs to improve oral health education, expand access to oral health care, and support communities. Delta Dental Foundation helps dentists by awarding them dental equipment to remove barriers to seeking care. For more information, visit https://www1.deltadentalins.com/
Dental Sector R&D Tax Relief
Governments encourage greater spending to overcome technical challenges, improve clinical outcomes and surgical practices. Dental Sector R&D Tax Relief help you get claims from the government for your research and development for dental practices.
The ADEAGies Foundation
The ADEAGies Foundation offers grants to elevate the dental profession. The Funding incentivizes dental professionals to participate in educational processes that are required to improve skills and performance, thereby leading to overall success. For more information, visit https://www.adea.org/adeagiesfoundation/
California Dental Association Foundation (CDA Foundation)
The CDA Foundation provides support for affordable purchasing of dental care in the United States. The grants include funding for mobile dental programs and community clinics. The main objective is to promote prevention education, increase access to care, advance health policy research and build a sustainable oral health workforce. The grants also assist under-financed clinics and nonprofit organizations to keep serving the oral health care needs. For more information, visit https://www.cda.org/Home/About/CDA-Foundation
American Dental Association Foundation (ADA Foundation)
The ADA Foundation offers grants to organizations in the United States for dental education and care. The objective of allocating these funds is to provide sustainable dental education and research programs, access to care, and assistance to dentists and their families. For more information, visit https://www.adafoundation.org/en
It is not a simple matter of ensuring that your dental practice has everything it needs to operate and grow smoothly. From operating costs, staff to rent, equipment, there are so many things you need to pay for. At times, it becomes difficult to manage all these finances. Therefore, grants for dental offices offer plenty of funding opportunities to overcome obstacles and relieving the financial strain. Grow, refurbish and start your dental practice successfully!