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Pediatric dentist Dr. Nilofer Khatri was fanatic about Disney World when she was a young girl.
But not the princesses or the rides. The daughter of immigrants to the U.S. from India, Khatri was more fixated on how it worked. She learned at an early age, for example, that Walt Disney would walk the park to see how long a person held a piece of trash before tossing it aside. He timed it down to the second. Then Disney instructed his staff to install garbage cans every 30 feet, so customers wouldn't litter. “I was obsessed with logistics,” says Khatri.
Khatri, 34, has turned that obsession to her work, where she's now part of a pediatric dentistry trend on the Gulf Coast: building whimsical, theme-park style, uber child-friendly pediatric dental practices — costly moves aided by service design concepts, where the business is designed to eliminate all customer hassles.
Several dental practices in Tampa have followed a path similar to Khatri's with Janoff & Khatri Pediatric Dentistry, in terms of expansion and renovation. So too has Dr. Manav Malik with SmileWorks Kid Dentistry in Sarasota and Dr. Tim Verwest in Fort Myers. Verwest built a new home for his practice last year, a $2.5 million investment. (See Business Observer, Oct. 25, 2013)
These dentists are partially driven by declining medical reimbursements: Expansion is their edge to grow patient counts and dent the shortfall. Others are motivated more by an entrepreneurial spirit. “I've put every dime I've made back into this business,” says Khatri, “because I have such a passion for it.”
A dentist since 2006, Khatri bought a pediatric dentistry practice run by longtime area dentist Jeff Janoff in Venice in 2008. Janoff, who founded the practice in 1977, still sees patients and mentors Khatri, the majority owner.
Khatri decided to renovate the practice in 2010. Venice-based contracting firm J2 Solutions gutted and rebuilt the entire 1,700-square-foot office. At more than $500,000, the project included raised ceilings, a redesigned lobby, new equipment and updated patient management software. Fun paintings adorn the walls, and the main patient areas are decorated in bright and bold colors. Stuffed animals are plentiful.
“The real person I'm selling this practice to is mom,” Khatri says. “So I imagined this like Alice in Wonderland meets New York boutique hotel.”
The 10-employee practice has grown its patient list about 25% since the project was completed, says Khatri. Annual revenues are about $1.5 million, right around the industry average for a practice with four chairs to see patients. And while Khatri targets more growth, she recognizes the high cost of her services turns away some potential patients. “It's an elite service we provide,” says Khatri. “There's an elite fee that comes with that.”
Business is good enough that Khatri, a Detroit native who grew up in Tallahassee, now ponders expansion. She specifically targets an office for Charlotte County, from which she says about 40% of her business comes. “My greatest fear,” Khatri says, “is I become stagnant and accept mediocrity.”
Showtime Magic
A common refrain about dentists and other physicians is they are good at the clinical side, but lack business skills.
That's one reason why the dental practice management industry is in boom mode. But Venice-based pediatric dentist Dr. Nilofer Khatri deflates the all-clinical, no-business acumen theory. She's an avid business book reader, with a list of favorites that includes Jim Collins' “Good to Great.” Khatri also constantly seeks ways to improve her processes and people skills. Here are two of her guiding business lessons that can apply to any company:
Build leaders: Khatri often says “walk me into your brain,” to employees. To Khatri that's an invitation to “help me understand what you're doing and why.” She says that approach forces employees “to slow their thought process and articulate their rationale for a specific behavior.”
Start right: Khatri has a huddle/meeting with the staff every day at 7:45 a.m., before the practice opens. She goes over patients for the day. Then she declares it Showtime. That means the next eight hours are all about work. “We're on stage for our patients and their parents,” says Khatri. “And you leave your baggage at the door when you're on stage.”
Follow Mark Gordon on Twitter @markigordon
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