Chances are you’re in your house right now because of the coronavirus pandemic, and you’re doing your part by temporarily closing your practice to help flatten the curve. But how do you run a dental practice during a global pandemic? How do you ensure your practice can continue helping patients after the pandemic has subsided and the social distancing restraints are lifted?

How do you ensure your business can weather the financial burden through the COVID-19 crisis so you can reopen your doors and reclaim your business?

In today’s episode, I discuss the financial options available for dental practices affected by the coronavirus. I explain how you can apply for small business loans as well as payment plans that can shield you from potential bankruptcy. I discuss why people are your biggest asset and why you should only consider removing them as the last resort. I also describe what our team plans to do after the pandemic is over and we open our practice’s doors once more.

“You have to do what you feel is right and what your team feels is right regardless of the situation or future situations.”

This week on T-Bone Speaks Dentistry Podcast:

• The financial options you have to keep your practice running.
• How you can apply for payment protection programs and loans.
• When to rehire team members who filed for unemployment.
• What to do when you don't have protective gear while working with a patient.
• Compensating furloughed team members if they go to work.
• What offices can do to be recession ready.
• Why sleep ortho and implants are still key services in this market.
• My future plans for my practice after the COVID-19 pandemic.
• How will insurance reimburse practices after this.

Our Favorite Quotes:

• "Don't put yourself in trouble by not paying your team members for the time they worked."
• "Stay calm and have leadership, especially in today's time."
• "People are the last thing you should consider getting rid of."

Resources Mentioned:

• US Small Business Administration
• Slack