Tend: The Move to Modern Dentistry

TL;DR

Tend Dental aims to disrupt the stagnant dental industry by creating a patient-first experience and leveraging technology.

Transcript

so doug it's great to have you here today i mean the dental industry is notoriously stagnant we're still using a lot of the same tools at dental clinics that we were decades ago we book appointments in the same way we see our dentist in the same way why haven't we built a better patient experience until now the industry is terribly stagnant and i t... Read More

Key Insights

• ⬛ The dental industry has lacked innovation primarily because the largest chains have not had the incentive to disrupt their existing business models.
• 🛝 New York City's large dental market has presented both challenges and opportunities for Tend Dental, serving as a testing ground for its economic model and patient-first approach.
• 🧑‍🏭 Putting the patient first and hiring exceptional people are crucial factors for success in the dental industry or any business.
• 🎮 Despite the pandemic, Tend Dental's focus on appointment-only visits, infection control, and digital capabilities have helped it thrive.
• ⏳ Tend Dental's booking flow not only includes choosing a time and clinic but also allows patients to personalize their visit and provides transparent pricing information.
• 💇 Tend Dental creates a unique and comfortable patient experience, combining hospitality elements with cutting-edge technology.
• 🌱 Leveraging screens in operatories enables Tend Dental to visually show patients their treatment plans, enhancing communication and understanding.

Questions & Answers

Q: Why has the dental industry remained stagnant for so long?

The two largest dental chains, despite their considerable market presence, have not had the motivation to disrupt themselves and innovate due to their existing business models. This has created room for Tend Dental to introduce a better patient experience.

Q: What are some lessons learned from operating in New York City?

New York City, being the largest dental market, has provided Tend Dental with insights and challenges. The high demand, competition, and elevated expectations from New Yorkers have pushed Tend Dental to refine its economic model, making it easier to scale in other markets as costs decrease.

Q: What are the key lessons the founder has learned as a serial entrepreneur that he applies to Tend Dental?

Putting the patient first and aligning their needs with clinicians has been a recipe for success. Tend Dental pays dentists based on patient satisfaction rather than commissions, ensuring the focus remains on the patient. Additionally, hiring exceptional people, both clinically and non-clinically, has been vital for the company.

Q: How has Tend Dental fared amidst the global pandemic?

Despite the challenges posed by the pandemic, Tend Dental's business model has been resilient. Dental services are essential, and Tend Dental's strict appointment-only policy, private operatories, and adherence to infection control protocols have allowed the business to recover strongly since reopening in June.

Summary & Key Takeaways

• The dental industry has remained stagnant for decades, with little innovation in patient experience and outdated tools.

• Tend Dental, with a patient-first mindset, aims to reinvent the dental experience and expand into metro markets that have been largely ignored.

• Starting in New York City, Tend Dental has experienced positive responses and believes that success in this market will pave the way for expansion into other cities.