Build a Business, Not Just a Practice: Financial Strategy, Leadership & Scaling for Dental Professionals

By Fortune Management

Running a successful dental practice is about far more than excellent clinical care. It’s about developing leadership, building team culture, understanding financial performance, and learning to think like a business owner—without losing sight of your vision and values.

Dennis Marvel, Managing Partner and Director at Fortune Management, brings decades of experience in financial services and healthcare leadership. In this blog, we unpack his insights into the core elements of successful dental business management—from scheduling and cash flow to culture and scalability. Whether you own one practice or a network of twenty, the principles are the same: strategy, leadership, and clarity win every time.

1. From Clinician to CEO: Owning the Business Side

Most dentists leave school with clinical skills but little to no business education. Two years into practice, many find themselves managing systems, leading teams, and facing complex financial decisions—without the right framework.

Key takeaway: Financials are not mysterious. They’re simply a language that, once learned, empowers dentists to make informed, strategic decisions. Understanding the mechanics of your business—like cash flow, expenses, and profitability—unlocks massive opportunities for growth.

“The financial side is a lagging indicator. But if you understand the leading indicators that drive profitability, the lagging results (like money in the bank) take care of themselves.” – Dennis Marvel

2. Schedule Utilization: Your #1 Profit Lever

If there’s one metric that can make or break your practice's profitability, it’s schedule utilization. Empty chairs don’t just represent missed opportunities—they’re active liabilities.

Why it matters:

• Fixed costs stay constant even when chairs are empty.
  
  
• A single unfilled hygiene slot can wipe out the day’s profits.
  
  
• Doctor time is even more valuable—and even more costly to leave idle.
  
  

What success looks like: A well-formed schedule with 90%+ utilization (looking back, not forward) across hygiene and doctor time. It’s about having a strategic scheduling system, not just plugging in appointments where they fit.

3. Boosting Hourly Productivity

Filling your schedule is only half the battle. The next step is maximizing the value of each hour.

• Combine procedures wherever possible.
  
  
• Leverage assistants and team members to allow the doctor to focus on high-value activities.
  
  
• Reduce appointment fragmentation and increase chair efficiency.
  
  

Pro tip: Treat every hour as a unit of production. When multiplied across a week, month, or year, even a 10% boost per hour translates to significant revenue growth.

4. Cash Flow: The Silent Strain (or Secret Weapon)

Cash flow is the heartbeat of your business. Many practices struggle not because they lack revenue, but because money doesn’t move effectively through the business.

Common cash flow blockers:

• Inconsistent billing and collections.
  
  
• Missed insurance reimbursements.
  
  
• Disorganized AR follow-up.
  
  
• Poor patient financial communication.
  
  

Often, resolving cash flow issues doesn’t require a full overhaul—just a few strategic adjustments.

“It’s rarely about a massive fix. Most financial drains come from small inefficiencies that, once closed, lead to huge gains.” – Dennis Marvel

5. The Power of Culture: Leadership That Transforms

Culture isn’t fluff—it’s the foundation of everything from case acceptance to patient retention.

Patients don’t judge your clinical care (unless something goes wrong). They judge your culture, based on how they’re greeted, how calm the office feels, and how connected they feel to the team.

Leading indicators of a weak culture:

• High no-show rates
  
  
• Low team morale
  
  
• Poor patient engagement
  
  
• High turnover
  
  

Great leaders understand that culture is built intentionally—and maintained daily.

“Culture determines your ability to build trust with patients. Without trust, case acceptance suffers—no matter how good the dentistry is.”

6. Scaling the Doctor: From Hands-On to Strategic

The biggest ceiling for most dental businesses? The doctor’s time.

You only have so many hours in a day—and as long as you equate productivity with being hands-on, you’re limiting your potential.

How to scale yourself:

• Delegate appropriately to clinical and admin teams.
  
  
• Train your team to handle consults, follow-ups, and patient education.
  
  
• Shift your mindset from “doing dentistry” to “leading a dental business.”
  
  

If your vision involves growth—adding ops, expanding locations, or building a group—this mindset shift is essential.

7. Metrics That Matter: Finding the Real KPIs

With so many numbers floating around, it’s easy to get lost in metrics that don’t move the needle.

Focus on KPIs that drive the fastest path to profitability, like:

• Schedule utilization
  
  
• Collections percentage
  
  
• Case acceptance rate
  
  
• No-show and cancellation rate
  
  
• Production per hour per provider
  
  

Your KPIs should be a reflection of your goals—and a daily tool for accountability.

8. Business Planning Starts with Life Planning

Before building your practice strategy, build your life strategy.

Dennis’ business planning approach, developed during his Wall Street years, starts with a life plan. Ask yourself:

• What do I want for my family?
  
  
• What lifestyle do I want to lead?
  
  
• What legacy or impact do I want to leave?
  
  

From there, create a strategic business plan that aligns with your personal goals. Then, develop a tactical plan—month by month, week by week—to make it real.

“The goal isn’t just to have a successful practice. The goal is to build a business that funds the life you truly want.”

9. Examples of Transformation: What’s Possible

Two real-world examples of practices that scaled massively:

• Practice A started with 2 functioning chairs. Today: 32 operatories, a multi-specialty surgical suite, and a patient base bigger than some small towns.
  
  
• Practice B expanded from one impactful location to 14 offices and 40+ doctors through replicable systems and a powerful "why."
  
  

These results aren’t just about hustle—they’re about strategic, mission-aligned growth over time.

10. You Don’t Have to Navigate It Alone

If all of this sounds powerful but overwhelming, you’re not alone—and you don’t have to figure it all out yourself.

Fortune Management is built to help dental entrepreneurs:

• Clarify their life and business vision
  
  
• Improve team performance and culture
  
  
• Understand and optimize financial systems
  
  
• Scale without burnout
  
  

We offer complimentary consultations and deep-dive practice analyses to identify high-impact growth opportunities tailored to your unique situation.

Build for the Life You Want with Fortune

The business of dentistry in 2025 is filled with opportunity—but only for those willing to step into leadership and strategy.

Yes, your clinical skills matter. But it’s your ability to lead a team, manage a business, and build a culture that will determine your long-term success.

Take the time to learn the language of finance. Invest in your team. And above all, start with the end in mind: the life you want to live.

Ready to build your plan for 2026 and beyond?

👉 Visit https://www.fortunemgmt.com/
📅 Book a complimentary consultation
📍 Connect with a coach in your area

Let’s make this your most fulfilling year yet—professionally and personally.