Running the everyday operations of a dental practice is an extremely demanding role. Every day you are surrounded by risk, whether it be from potential clients or a member of staff using specialist equipment, this creates a need for practice decision-makers to effectively manage these risks. failure to do so can lead to expenses claims and business interruption which can leave a crippling effect on the turnover of a dental practice.
We live in a day and age where dental procedures are constantly evolving to become safer for patients and the dentists that complete them daily. Whilst there are always efforts being made to improve the safety of daily operations you must have suitable risk management in place to prevent unexpected accidents.
In this article, we will be exploring the common risks that can be found within dental practices and the best ways to manage them. The goal, to allow practice owners to better understand the ways they can protect the business from interruption and the claims that come with this.
Types of Risks That Dental Practices Need To Consider
Some of the most common forms of risks that come with working within the dental industry include claims from employees, claims from a third party and the breakdown of specialist equipment which interrupts the operations of the practice. Managing these types of risks can include the following:
Educating Practice Employees
One of the most common claims that dental practices deal with are ones made by their employees. Whilst employers liability insurance will likely cover these types of claims it’s still extremely important that you have suitable training in place to avoid these costs falling into your hands. Training is an essential part of taking on new employees but this is ever so apparent when it comes to working in high-risk industries such as dental and health.
Supplying Protective Equipment
Protecting your clients is an essential part of running a dental practice, with procedures such as x-rays being a daily occurrence, you must have the correct protective equipment in place to help prevent accidental damage from occurring. If you are operating without this protective equipment you run the risk of an accident happening which leaves you open to claims made against the business from a third party. It’s simpler to avoid accidents than resolve them once they have already happened.
Investing In Insurance Cover
As a practice, you must have the correct level of insurance cover in place to protect you against these common risks. An insurance policy is designed to offer financial protection against the daily operations of the business, this will often lead to insurance products such as dental liability insurance and employers liability insurance being included within the policy itself. In addition to this, a range of bespoke insurance products can be included to cover the needs of your specific practice.
Making The Dental Practice A Safer Place For All
Taking the time out of your busy schedule to invest in the future of your practice is time well spent. It will not only help staff feel a lot safer during the working day but it may also end up saving you a substantial amount of money in the long run. Where do you go now? Well first review your existing insurance policy and see if any procedures are not fully covered. From there identify any high-risk areas of the practice and put together a plan of action to manage this risk.