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market as well.
“We’ve seen more dentists starting to
better understand the importance and
value of their brand, which is making
it harder to stay competitive for other
dentists, as the bar gets continuously
lifted.”
Stafford quickly notes that while this
lift in the bar is a huge positive for the
industry, it’s a hurdle for dentists looking
to remain competitive.
“It’s increasing the cost of maintaining
a dentist comes to us, it’s usually a fairly dentist in their business. your practice; from coffee machines
transactional process. Often, they’re “It’s no easy thing to question the to fresh flowers… they all give your
looking to purchase some equipment, actions of highly qualified professionals, practice a beautiful aesthetic, which
like a dental chair, or possibly even a but I believe it is critical to Credabl’s role increases the experience for the patient
new practice – something very needs as a business partner. Our clients are – but it all comes at a cost.”
based, where you know precisely what experts in dentistry and we’re experts Aside from the hard costs of running
you want, and now you’re out to find it.” in finance – they should expect nothing a practice, Stafford explains that other
However, with such experience in less. Most of the banks out there take a current pitfalls in the industry include
the community, Stafford admits that formulaic approach to lending because spending on website marketing in ad-
he can’t help but begin thinking of the they deal with everyone from a plumber hoc ways, losses on DA processes, and
possible ways to assist, even from the to an astronaut.” unplanned labour costs such as training
very first meeting. and compliance. However, these pitfalls
such as the need for interventions from dentists increasingly want to spend These time pressures aren’t “We’re constantly thinking about We’re constantly thinking can be avoided with the right partner.
accountants and proof of tax returns. less of the little time they do have unique to the medical profession, how else we can improve their practice “Running any practice takes time.
These blocks often add days to the loan engaging with [Credabl]. Not because but to help dentists better connect financially, so we’re already thinking about how else we can There’s a steep learning curve, and
process – even weeks – so we want to they’re rude, but because they have and take better control of their about how we can help them with their often there will be overruns as a result.
find a better way to get quicker results other things to focus on - more finances, Credabl is using methods finances and how can we help to grow improve their practice If you’re not working with a specialist
for our clients.” immediate things. So even if they have of communication that are definitely their practices. It may be that we need financially. company who understands the journey,
One such technology, already in a spare twenty minutes, [dentists] unique for the finance community. to consider what assets they could my concern is always that will end up
testing mode at Credabl, is artificial have to remain connected. They’re As Stafford explains, “We let our leverage to help get a better loan… or with unforeseen costs.”
intelligence. constantly checking in on their practice partners decide on how they want to even helping our customers take a more Stafford goes into detail to explain So, whether you’re looking to
“We’ve currently got an eye and getting work done at all times.” communicate with us, so we’re regularly scientific approach to how they charge how the Credabl approach is different, purchase a new chair, improve your
on artificial intelligence, as we’re Stafford thinks this stems from the using online chat, iMessage, Facebook for their time.” “I like to understand someone’s plans employee training, buy a new practice,
investigating ways to make it possible increasing cost to go into private practice - and other mediums that big banks are At Credabl, while there’s a focus on and if I think they are missing something or even set up your practice to sell
for our clients to give us their financial and the financial pressure it creates. often nervous of.” partnering with dentists, Stafford says important or it’s a bad idea, I’m going for the best price; start a partnership
information without filling out 25-page “The cost of opening or buying your When talking about Credabl’s that he’s trained his team to initially help to share my opinion. That applies even with a finance professional that better
forms or having to send us five years own practice has risen considerably clients, Stafford often responds with practitioners get what they need, as if they have the cashflow and assets to understands your business and your
of tax returns from their accountants. over the past 10 years and the entry stories of his “partners,” stressing the quickly as possible, “Our initial approach approve them with ease!” community.
If it works, then we want to evolve and level standard today was the gold word as though correcting me for is ‘Okay, that’s what you need, so we’ll It becomes clear that Stafford’s Don’t waste your time with an
incorporate that into Credabl.” standard of 10 years ago – digital pronouncing it wrong. When I quiz him get it done.’ We don’t want to distract passion for finance blends well with his inexperienced practitioner: talk to the
With their extensive experience dentistry, cone beams and high-end on this phrasing, he explains that one of anyone from achieving what they need experience in the medical community. team at Credabl.
in the community, Stafford and his fitouts are just a few examples. It’s no Credabl’s core values is to push beyond to achieve.” He becomes immensely animated http://www.credabl.com.au
team are all too aware of the immense wonder dentists are busy – the yield transactional dealings with clients, to However, while speed is important when recalling tales of how his team
time pressures dentists are currently they need to generate for their practice create meaningful partnerships and lift to Credabl’s service, Stafford also has helped their dental partners adapt
experiencing. time is consistently increasing as a result the medical community as a whole. believes that playing the antagonist to trends in the market. Not just the
“We’ve definitely noticed that of higher overheads.” “Partnerships take time. The first time is sometimes critical to supporting a financial markets, but also in the dental

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