Canoga Park, CA (PressExposure) July 27, 2011 -- Small business enterprises and solo healthcare practitioners, still reeling from the financial downturn of 2008, are faced with the probably danger of a second market crash. With the United States in debt to the tune of some 14 trillion dollars, the credit rating of the nation has been placed under watch by Moody and S&P and is in risk of losing its AAA and Aaa ratings, which will result in increased interest rates. Such an increase will affect many businesses that are tied to the federal government, thus fueling another trickle-down effect to the private sector. The possible scenario and outcome concerns many small businesses, especially those in the medical and dental fields, who lost significant percentages of their patient base due to the Recession.
"All indications point to the U.S. heading to another devastating market crash due to the federal deficit. However, if the U.S. crashes, doesn't mean that people need to crash. You have to get prepared," cautions Mr. Helmut G. Flasch, a dental practice management consultant and CEO of Doctor Relations, Inc., a dental consulting firm based in the Greater Los Angeles area. He states that people who have been watching the market knows and take action in preparing for possible outcomes in anticipation of a disaster have gone to weather the storm well afterwards. "Dentists and doctors, more than anyone probably, need to be out there marketing their skills more than ever right now, because their competitors are going to huddle down, which will eventually put them out of business, which leaves the field wide open. People still need medical care regardless of any overall economic conditions and some will still be able to afford to pay for it,"
Mr. Flasch suggests that dentists start their preparation efforts immediately by stocking up on necessary supplies such as Novocain, topical numbing agents, gauze, and filling materials, which might be in shortage if the market crashes as well as having an exorbitant price if the products are available. He says that a dentist who has prepped his practice by keeping enough stock to last two years will take over the market share in his region unlike a dentist who began his preparations too late and will not be able to afford to restock his supplies if the market does crash and prices on the products needed for a practice soar to a high rate.
A mutually beneficial approach, Mr. Flasch goes on to suggest, is for dentists to become involved with their local communities in tandem with other marketing approaches, such as dental internet marketing and dental coupons. A dentist who participates in community events raises his visibility to community leaders who will endorse him to prospective patients who are looking for his services. "Community leaders like to talk about and promote people who take an active interest in their community by sponsoring events that will be beneficial to others," Mr. Flasch clarifies that this is an approach that can be used for professionals in all fields and is effective during difficult times because people want to work with someone they can trust. "People, especially dentists, must prepare themselves for the possible economic crash, which will result in them needing more patients to keep their practices going. They have to get themselves known in the community so that people have a trusted dentist they can call," he concludes.