Bright and early each Monday, a Ravenswood, West Virginia dentist steps up to the challenge of answering questions about her profession live on a local FOX television segment.
Today, though, Christen Simpson Raynes, DDS, MBA, shares her expertise regarding the business side of the dental practice to benefit others in her field.
A recent honoree among the Incisal Edge 40 Under 40 – America’s Best Young Dentists, Dr. Simpson Raynes continues a dental legacy begun by her grandfather. Robert R. Simpson, DDS (her grandfather), founded the company in 1948, Mark W. Simpson, DDS (her father), incorporated the latest technology in dentistry, and today Dr. Christen Simpson carries on the tradition of excellence and brings a new level of expertise in business. (Did we mention Dr. Christen’s mom Connie, dedicates her skills at the practice as a bookkeeper and hygienist?)
Dr. Christen owns and operates Family & Cosmetic Dentistry in Ravenswood, West Virginia, and she works part-time at Simpson Dental Associates as well.
The Incisal Edge 40 Under 40 honoree (watch for her in the magazine’s Fall edition!) shares perspective on returning to school for her MBA to learn more about the business of running a business:
“As far as coming from a line of dentists, I was told along the way that the dentistry is the easy part compared to running the practice and managing employees. I didn’t realize how true this was until several years into my career when I was faced with hiring new employees and finding out how difficult it is … So in 2010 I decided to go back to school and get my MBA to learn more about business,” said Dr. Christen.
“It definitely helped to be more confident in business decisions, and in 2012 I bought our Ravenswood office. I do all the bookkeeping for the office, which allows me to keep a close eye on all the numbers.”
When asked by thedailyfloss.com, she graciously shared Top 5 Tips for Managing the Business Aspects of Dentistry:
1. Learn how to read a profit and loss statement and balance sheet to be able to understand where money is allocated.
2. Keep a close eye on the collections. Make sure you are collecting what you produce.
3. Create a workable system for interviewing employees and finding good candidates.
4. Construct an employee manual with set standards. (Remind everyone to review and follow them.)
5. Set a positive tone for the office as a leader, not just a boss.
Dr. Christen empathizes with the learning curve new practice owners face on the business side. She compares it to “a steep learning curve” she faces in another aspect of her life: adjusting to life as a new parent. (She and husband Derek welcomed Benjamin Henry to the world January 25.)
Learn more about Dr. Christen in the Fall Edition of the nation’s only dental lifestyle magazine, Incisal Edge.