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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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