Cliff's Notes

The Business of Dentistry

What Is MBWA? Maybe a New Year’s Resolution …

 

You would not believe the complaints I hear from dental team members in 90% of the offices I walk into. Then I hear the concerns of the practice owner (s). Most organization have the same problems but only a few address the issues. Your team is your most important investment. Their success is yours. MBWA!

What is MBWA? … Back in the 1980’s the acronym was coined by IBM, it stood for “Management by Walking Around”. The concept was to get management to interact with their team by getting up from their desk and walking around and asking if anyone needed any help with anything or if they had any ideas or suggestions. Several years later Disney picked it up and renamed it “Management by Wondering Around”, I like that one better.

Management by Wandering Around … Disney’s reasoning for changing the word was simple and effective. Team members (especially lower level) will be reluctant to voice any problems to superiors, it’s human nature. But when you “Wander” you are walking slow with your hands in your pockets, you are now “Approachable”. I did it, it works!! How do you approach your team?

Approach Your Team … The key to beginning any negotiation is to understand what the other side of the table wants. You may not agree with it but you have to understand their reasons. Most practicing dentists do not understand the day by day issues and frustrations that team members deal with. Sit in the chair and see what the job is all about. In American Football your team would be playing on both sides of the ball, often at the same time. Try the front desk for one week!

The Front Desk … Dealing with patients wouldn’t be that hard if it wasn’t piled on top of scheduling, collections, re-care, insurance companies, email requests, and the clinical team. In smaller offices that person may also be involved with treatment planning. With a daily plate full of problem solving issues it is reasonable to assume that some things will slip between the cracks. And then you want to know why they couldn’t fill the schedule. Try asking your front desk what is the one thing that would make their job easier and explore the suggestion, you may be surprised at the end results. You just wondered into their world and the moral will instantly rise and productivity will improve as long as you follow through. Now what about your assistant?

The Dental Assistant … Did you know that your patients ask your assistant for their opinion when you walk out of the room? Patients even ask if you are good at what you do. You are a dentist and that means you are creative and artistic, you enjoy reconstructing the oral cavity. Your assistant gets to listen to the patients complain, the doc complain, the Hygienist complain, and then clean up the mess. Look at what they have to do between patients while following all regulations. Anything that would help speed up the room turn around time is worth looking at. What is your turn-around work flow? What would make the job faster and easier? Wonder into their world and grow your practice by wondering outside your comfort zone.

The Comfort Zone … If it works don’t fix it. That is so true when it comes to your equipment, but your practice flow and team harmony are what the patient sees and feels when they are in the office. Team harmony and moral must be an everyday concern. Team discovery meetings are always available free of charge and please feel free to contact me at any time with any questions or concerns.

Advertisements

December 9, 2018 Posted by | Uncategorized | Leave a comment

Dental Impression Scanners “An overview of What’s What”

Dental impression scanners are soon to be thought of as standard office equipment. Digital imaging can save money by speeding up process time in every facet of healthcare from chair time to insurance processing. The more you engage in digital technology the more access you will have to increased cash flow. Shopping for a dental impression  scanner is like shopping for a new car, and they cost about the same. But, when was the last time your car saved you chair time or helped you increase production and cash flow? So, let’s talk scanners.

Talking impression scanners … There are so many coming to the market it is confusing which system is best for your practice. Because there are so many I am only using 4 brands as a sample review. First you have to have an idea of where you want to go with impression scanning. Do you plan on utilizing in office milling now or in the future or do you want to transmit data to your lab. Another consideration is how the Scanner software integrates with your practice management system as well as your diagnostic network.

True Definition Scanner (3M) Exhibit Booth #4019 … This is the perfect entry level scanner. It is simple & very portable but only displays in black & white. The video image capture technology is standard video with no bells and whistles and that keeps the price in the lower range. The system is an open platform and will communicate with most labs and in office mills. Images are accepted for Invisalign.

Emerald Scanner (Planmeca) Exhibit Booth #5425 … Originally developed by D4D Technologies this scanner is the enhanced version on the E4D system. It is an excellent choice for a full use scanner & mill. The design programs are comprehensive and accurate with constant up-dates to performance and features. The camera is small and ergonomically designed for easy access to the oral cavity. Planmeca has been offering impression scanning and milling for over a decade and incorporates an open platform.

Trios Scanner (3Shape) Exhibit Booth #2626 … The Trios System is the most popular dental impression scanner on the market. The capture speed is super fast allowing the user to scan a full arch in less than 30 seconds in HD and true color. The Trios is actually 3 cameras in one. Aside from the superior scanning ability it incorporates an intraoral camera and a shade matching camera that links to the design program. The system will capture multiple shades within a tooth and all the data can be transmitted to any lab with an open platform. Although the Trios will work with most Mills it is more suited to interaction with your lab as the milling prosses is more complicated.

Cerec Omnicam (Dentsply Sirona) Exhibit Booth #3409 … Young dentist graduating dental school this year were not born when Sirona developed the Cerec System. This is the Granddaddy of them all, the one that started the revolution. The small camera and the super fast scan is complimented by a comprehensive design program. If in-office milling and same day dentistry is in your future, this is the system to look at. Although Cerec is a closed platform, design images can be converted to an STL file and sent to any digital lab. Cerec images are accepted by Invisalign and.

Please feel free to contact me at any time with any questions or concerns. See you in New York!

 

November 6, 2018 Posted by | Uncategorized | Leave a comment

Do’s & Don’ts of “Convention Season”

 

The Year is coming to an end and for most business 2019 investment plans are underway. Q4 usually brings along some great deals and a good amount of “Convention Specials” are available now. That’s why you have to sit back, do your due diligence, and plan your investments carefully. Through my 40 years in dentistry, here are some do’s and don’ts that I suggest.

Dental Technology Do listen to your friends and get “IN-Office” demonstrations … Don’t buy something because they did. This especially holds true for dental scanners and cameras. A dental office is a unique business. No two operate the same way and here in the northeast the patient demographic changes every 5 miles. When planning the purchase of a dental impression scanner there is a lot of behind the scene support that will determine what system will work best for your work flow. Also, how far do you want to take a scanner? Some work better with mills and integrate seamlessly with other technologies such as CBT, 3D Pinters, Management Software, etc. and all of that should be evaluated before any decisions are made. Do go to the shows and look at everything … Don’t buy it at the show and make sure to get you team involved. Do look at the financial end … Don’t buy from a seller that offers less than 3 options, remember your looking for what works best and integrates with your existing network and future plans … Do Support is a key factor.

Dental Operatory Equipment … Like going to the car show, you want to slam the doors & kick the tires to see what lights you up. Do listen to your friends about the pro’s and con’s of what they have … Don’t decide on just their experience … Do ask a manufacturer representative about their ergonomics. Quality equipment is ergonomically designed for the professional to sit in a stool while treating a patient. The ergonomic design of dental equipment is important to your health. Also, speak with dental equipment specialists that offer more than 5 different brands and multiple options.

Small Equipment … IRS Sec. 179 works great when it comes time to replace Curing Lights, Handpieces, Intraoral Cameras, lasers, etc. But how do you choose what to buy? Don’t buy a year’s supply of composite just to get a free Light, it’s not free! Do look at the Light that is made by the manufacture of the composite you like. Don’t buy a Handpiece because of price, it is your #1 tool. Do demo quality Handpieces to see how they feel in your hand. Don’t buy an Intraoral Camera for the bells and whistles. Do think carefully if you will utilizes the options or just pay for them. Do make sure that all digital data will move smoothly throughout your network. Utilizing the resources of an equipment and IT team that has direct connections to multiple equipment and technology manufacturers is essential.

Consumable Merchandise … Convention & Special are the 2 buzz words. Don’t buy a years supply of anything! Why keep the money on the shelf and not in the bank? When something sits on your shelf for more than 30 days it starts to lose value. Do think about how long it will take to use up an item and free is not free. If it will sit for more than 90 days it better be a real good deal. Do have your team gather up all the expired items in your cabinets so you can estimate how much money you lost and gauge what to buy.

Step #1 … Talk to your tax adviser about all year end investments. Step #2 … The Plan!

 

October 18, 2018 Posted by | Uncategorized | Leave a comment

Water & Air … Everywhere!

In the movie Major League Actor James Gammon, who played the team’s gravel-voiced manager Lou Brown explained the game of baseball in simple terms “you hit the ball, you catch the ball, you throw the ball”. Now we all know it is not that simple and your dental equipment is no different. It needs regular maintenance and some TLC.

Broken down into “Lou Brown” terms it’s all about water and air. In a time when technology is all you hear about we tend to forget the basics, your dental equipment. The mechanicals you need to practice dentistry are often abused and get prematurely old due to lack of maintenance. Think about the “Panic Centers” and service them regularly.

The Panic Centers … The dark places where nobody wants to go. Your air compressor and vacuum system are the keys to your clinical dentistry. They are not the brain of the operation, they are the heart. If either one goes down you can’t do much dentistry and Hygiene is completely shut down. That’s when you panic!

Air Compressor … A dental air compressor is the heart of your practice and is specifically designed to deliver clean dry air. They are complex in design and have filters and purge valves that have to be cleaned annually. Oil-type compressors may need to have oil added or a complete oil change. Oil type compressors are not that common any more due to the oil vapor that that leaves a residue buildup on the walls of the airlines. Most offices take the compressor for granted but think about what you would lose if it went down in the middle of the day. It’s not that expensive (a few hundred dollars) to have a small spare commercial compressor standing by. Look at it like an emergency generator that you picked up at a home store. For the several hours or a day that it takes to get the main system up and running you will still in business.

Vacuum Motors … There are all types of vacuum systems Do you know if you have a  wet or dry pump. Vacuum systems work opposite from compressors, one is positive pressure and the other negative. Compressors turn on & off depending on air pressure  but vacuums are high power motors that are designed to run continually for long periods of time. But again, filters, valves and the amalgam separator need to be serviced. Annual maintenance is strongly recommended and scheduling a service call whenever it is time to change the amalgam separator is a great opportunity.

Maintenance Program … The easiest and most financially sensible thing to do is to schedule one day once a year to have all of your equipment serviced. In most cases its just a 1 to 2 hour service call but as Benjamin Franklin said “an once of prevention is worth a pound of cure”. You have practice management software and so does your service tech. Put it in the schedule when ever your amalgam separator needs to be changed. Get it all done at the same time and you will prolong the life and function of your equipment. Also, scheduling the time is under your control to avoid any clinical disruptions. Now what about practice Technology, it also needs maintenance.

Technology … If it works, don’t fix it! That’s how most of us feel about our network. IT services are essential in today’s healthcare climate and it will only get more complex. Integration of multiple systems each with their own software will be an on-going expense and every time something new is added it will effect everything else. Everyone has their own IT person and in some cases that person, as a 3rd party, does not have the resources to stay on the bleeding edge. It is much less expensive if all of your technology works seamlessly with each other. It is also important to have 24 hour monitoring and offsite back-up. Everything leaving your office computers must be compliant and being as your data is being continually attacked you need protection. You want a dental certified IT Service provider. Integration of different technologies within the same network can be a disaster if not controlled correctly.

Please feel free to contact me with any questions or concerns.

 

 

October 7, 2018 Posted by | Uncategorized | Leave a comment

A Practice Building Review

What does it take to build something great? It take diligence, courage, and planning. Patient marketing is so important to maintain your active patient base and back load it with new patients. It all starts with name recognition and giving the customer (patient) more than they expect. Think about your current patient base, what generation do they represent? Baby Boomer’s or Generation Z?

Generation Z … Anyone born between 1996 and 2010 are your target patient base for the next 10-15 years. They demand technology and options and you will need to exceed their expectations with practice building programs.

Total Heath … There are multiple systemic diagnostics that a dental health practice can employ at no cost to the patient. Will they cost a few dollars, probably, but the return on the investment is very high.

1. Take blood pressure

2. Screen for Obstructive Sleep Apnea

3. Screen for Oral Cancer

Keeping everything in-house … Patients do not want to be sent to specialist they don’t know. But they would trust that same specialist if it was at your office. Security and confidence. Again, there may be some investment but that investment can be realized in just a few months. Think about what you send out and please let me know if you have any questions.

Technology … This one stings a little because it requires effort and commitment as well as a larger financial investment. Think about the back end of your patient base. The 19-21 year old that’s coming in because their parents have been patients for 15 years. What do they understand? Gandhi once said “you are the language you speak”. I walk into offices that still have CTR style TV sets sitting on wall mounts. Great for 20 years ago! Now there has to be a flat screen that interacts with both entertainment and clinical videos. If the current market is Millennials and Generation Z you have to keep pace. What do they see? If it looks old then the quality of care must be old. A Lunch & Learn Marketing session, with CE’s may be available, call me.

Obstructive Sleep Apnea … Been there, done that! That’s the first reply when I ask clients about the program. This is the most miss-understood practice builder, it costs nothing and can change the face of your practice. The problem is the providers expectations. This should not be thought of as a medical insurance provider procedure but more of a patient building tool. The program is simple and I would be happy to provide details on the 2-3 minute protocol.

Care Credit … Sure it costs a few dollars, but it helps achieve a better cash flow and reduces receivables. The no-interest patient financing will also lead to more treatment plan acceptance. Speak to one of the Care Credit Representatives in the area or contact me at any time.

Dental Warranty … This may be dentistry’s best kept secret. It’s has been around for 10 years. Your patients now have the option to have a nation-wide warranty on any clinical procedure. Plus, the low cost can be covered through Care Credit. For more information call Brad @ 972-345-8998 or brad@dw-corp.com. Use Info Code DENT911

September 24, 2018 Posted by | Uncategorized | Leave a comment

The Master Craftsman’s Tools

A fine furnisher Master Craftsman, an artist, an athlete, a dentist always do their best work when they use the best tools. Your dental handpiece is your #1 tool. If your handpiece doesn’t preform you can’t work. So maybe it’s time to look at the function, maintenance, and power supply that can shut your practice down for hours or a full day. Not all handpiece are the same and the small price variation should have no bearing on what works best in your office.

In today’s dental trade market everyone is talking about impression scanners and I know you are too, but you need quality tools to get to the scanning process and in every case you will use your handpiece. A quality piece costs about the same as re-doing a crown that was under your practice warranty policy. Failure costs money.

Failure … Dental handpiece are very difficult to design and manufacture. To simplify it, they are miniature jet engines. Air driven turbines freewheel at 350k rpm to 450k rpm. Electric high speeds turn at 200k rpm, they need constant care and maintenance. If your quality high speed is being repaired more than once every 2 years I would assume there is a breakdown in maintenance protocol. Most often it involves the turn-over process.

Turn-over … When the clinical procedure is over a team member cleans the room. They clean the handpiece (with what?), lubricate it (how & with what), and sterilize it. Most offices clean the piece with a disinfectant wipe and that will breakdown the gaskets that secure the race (spinning part). Also, on lesser quality pieces the outer finish will be damaged. Clean a dental handpiece with water, they’re made to get wet. Then the handpiece has to be lubricated correctly with autoclavable lubricant that will protect the internal components from the heat of the sterilizer. Disinfectants will degrade the internal components.

The Internal Components … Outside factors greatly effect the internal function of a quality highspeed. The inside construction is very complex and designed to deliver the exact amount of air (32 psi) and a spray that is focused on the cutting point of a rotary instrument. They are built to work hard but garbage in, garbage out. Your air supply may be the most contaminated component in your office. When was the last time your dental compressor was serviced? When were the filters changed? Think about the inside of a dental compressor tank where it is moist and dark all the time. After several years what are you shooting through that quality handpiece? As handpieces got more presciently engineered biofilm became a factor with waterlines and spray. Equipment maintained routinely will extend the life of your handpieces. Electric Systems suffer similar abuse.

Electric Systems … Bad water passes through all the attachments and the system is controlled by an air actuated electric switch. All the same stuff.

Suggestion … contact the manufacturer of the handpieces you have and request they e-mail there maintenance guide. Have your mechanical equipment serviced annually and consider implementing an automatic handpiece maintenance system into office protocol.  Please feel free to contact me at any time with any questions or concerns.

 

August 26, 2018 Posted by | Uncategorized | Leave a comment

The Bus Is Leaving The Station

honeymooners

A lot of people that read this this week’s rant will have no idea who is in this picture but it is a seen from one of the most iconic TV shows ever. It’s Jackie Gleason & the Honeymooners. On October 5, 1951 the first episode aired and history was made in a time when more than one half of the country didn’t have a TV set but everyone wanted one. Ralph was pretty cheap and this episode was a classic.

In this seen Alice is complaining about not having a TV and Ralph didn’t want to spend the money so to justify his decision he yells out “I’m waiting for 3D TV”, that was in 1951. What are you waiting for.

Dental School … Do you have a digital radiography system? If there was a time that you used x-ray film you can appreciate the technology and think about all those years you didn’t have it. Today, most dentists under 40 don’t know how to use x-ray film and in the very near future (5 years) new dentists won’t know how to use impression material. Can you see where this is going? Dental impression scanners are NOT bells & whistles, they are the tools you will need to stay relevant.

Staying Relevant … Last week a well established dentist pulled me aside and told me that a new patient that came by way of referral was told that it was a great office but not to expect any bells & whistles. That was concerning to the doc and with good reason. What are your patients seeing and what are they thinking? Look around at what is evolving, technology is rolling like a freight train and if you don’t jump on-board you will be left behind. But just don’t jump!

Don’t Just Jump … So many offices spend a lot of money on dental impression scanners and don’t use them? The scanner your friend bought may work efficiently in their office but it may not fit the way you work. Step one is to consult with sellers that represent multiple brands this way you will be getting a more bi-partisan view. Step 2 is to demo several brands to see what feels best in your hands and integrates seamlessly with your current network. There is no “one size fits all”. Also, the industry landscape is changing with more dental labs accepting images and Invisalign’s patent on clear dental aligners expiring late in late 2017. And, be aware that Generation Z is on the way.

Generation Z … One fifth of today’s US population will change the way we see the world. The 20 year old that was in for a hygiene appointment is the front line of generation Z (born after 1996). Now,  you have to redefine your marketing program to relate to the mindset of this new patient base? Marketing 101, packaging is 95% of the sale. We all know Millennial’s look at things different than their parents did and their has been plenty of marketing research to guide organized programs. However, Generation Z is different. Their word is technology, virtual reality, instant information , and very soon artificial intelligence. What will your practice offer because today’s “WOW Factor” will be the expected standard tomorrow.

Tomorrow comes fast … Planning for the future of your dental practice is very scary. It requires dedication and a financial commitment, both of which are usually much more than a currently successful dental practice owner is willing to invest. But, as Albert Einstein simply stated “energy in motion tends to stay in motion, energy at rest tends to stay at rest”. The motion of your business must continue to move forward or it will stagnate and fade away. Maintain the quality of your investment.

Your investment … You are so afraid of spending money that you will justify the status quo. Ralph did, he wanted to wait for 3D TV. So many dentists tell me that they are waiting for the next upgrade but you know what, they will always be waiting. Your investment in school and business is too important to not be managed correctly. The bus left the station but you can still catch it if you want to be part of the future. The value of your practice depends on it. Please feel free to contact me at any time with any questions or concerns.

 

August 19, 2018 Posted by | Uncategorized | Leave a comment

Everyone Wants a Raise! What happens when a long time employee exceeds their market value?

Much of this week’s blog post is re-printed from a post on May 7, 2016. Not much has changed except quality team members are getting harder to find.

As a business owner or manager, there are some very difficult decisions that you will have to make through-out your career. Some of the hardest involve your team and their compensation vs production (value). In a different time an annual wage increase was standard business practice, but in today’s economy when operational cost are continually rising, there is not much left over to give to the team, and you will be expected to give again next year. How can you do it? You can’t keep giving. As an example, a good dental assistant (in northern NJ) will command an hourly wage of $18-$25 per hour. If that quality employee stays with you for 10 years that wage may run as high as $35 per hour and be far above market rates. How do you deal with a team member that has been with you since you bought the practice, is over paid, under produces, but the patient love them? Here comes that difficult decision.
Quality is the key to success and a quality team is one of the most important investments your practice can make. The question is how to compensate them, keep them happy, and help them “grow” with you and the practice?

There are many creative ways to compensate and retain quality team members. But first you need to up-date and complete your employee management program. Your employee manual must be reviewed annually and reflect any changes in policy. Team members will better understand their responsibilities when they are clearly defined in writing. Also, federal & state labor laws always favor the employee unless policies are formally and clearly presented. Your legal adviser can help you do it right and you can blame the changes on them (good cop/bad cop).

Some of the most successful practices I deal with offer “employee extra’s”. Everything from bonuses tied to production, medical benefits and 401K programs attract and help retain quality team members. If you establish realistic incentives as part of your compensation program you will see production increase. As a leader you need to constantly motivate your team and compliments only go so far. People go to work for mostly one reason, to make money. And if you want people to help you make money, you have to let them make money. Let them make extra money through production incentive programs.

Talk to your practice consultant and financial adviser about establishing a 401k program, one that requires several years for vesting. Matching funds can be tied to production goals. You may be surprised how this small investment will pay off. Now, every team member has something to lose if production is flat.

Your team is your greatest asset. Keep them educated, informed, and part of your future. Quality is hard to find, don’t be afraid to invest and expect a healthy ROI. Please feel free to contact me with any questions or concerns.

August 12, 2018 Posted by | Uncategorized | Leave a comment

Dental Consumable Analytics Control Your Overhead in Real Time!

Picture1

The American Dental Association has been tracking dental office operating expenses for years. Every area of organized operational data was collected from responding ADA members by a series of Q&A’s. With this data available you can evaluate your overhead investment and possibly plug up some of those holes in the ship that you didn’t know were there. Your category spend information can be found on your P&L statement and if the data was entered correctly the calculations are very simple. A certain percentage of the practice’s gross revenue is assigned to each business category (i.e. rent, salaries, supplies, lab, etc.) and now you have the information to formulate a practical budget.

A Practical Budget … It is hard for a “fluid” busy dental practice to budget consumable products and anticipate growth. But, there is a method and formula that works. Larger business always have operational budgets for both consumable and revenue generating investments. Note the word “investment” and not “expense”. Everything a business does should be looked at as an investment with a predictable return. A dental office’s quarterly investment on consumable supplies is one of the smaller line items on a financial P&L but one of the most fluid and requires time and effort. Time is money and the investment in supply ordering time should be considered as part of your “supply spend” budget.

Supply Spend … Most dental practices are small business. A small business in the U.S. is a company with gross revenues under $50M and most private dental practices fall in the lower end of that number. The process of supply procurement is usually given to a team member with instructions to “get the best deal”. That is a consumer mentality and not practical for an on going business. The ADA, through member research, reported that the average dental practice invests 6.5% of their gross production on clinical supplies. Inventory management is controlling that number (not line item cost) and getting it as low as possible while investing the least amount of time on this “non-revenue generating operational task”. A predictable working budget is based on accurate and detailed analytics.

Detailed Analytics … In today’s fast paced economy, everything is based on data. Is there any one supplier that can provide analytical reports on everything you use? Probably not because your spending time shopping for the cheapest price and not the overall value. Value is reducing that 6.5% to 5% or less and shifting “shopping time” to productive time and increasing revenue. What is value? It is competitive pricing, fast delivery, 6 or better inventory turns per year, minimal back-orders, and detailed analytics on product usage with experienced consultation free of charge. Detailed analysis will breakdown products by categories, quantity, spend, and manufactures. With this information you now have “buying power”. But, how do you get there and how do you start?

How do you get there? … Data entry is the key factor and maybe the hardest part. But, I can take most of that burden off your shoulders. I have the analytical formula and the software programs to organize the supply data and give you all the information that is needed to establish a formulary that will achieve multiple inventory turns, reduced lost inventory, create a predictable budget, and get your supply spend below 5%. It’s time to reduce the inventory footprint on overhead. Please feel free to contact me at any time with any questions or concerns.

July 29, 2018 Posted by | Uncategorized | Leave a comment

Keeping it in House “Out Patient Services”

negotiate

The other day I was talking to my Primary Medical Healthcare Provider about my Primary Dental Healthcare Provider and how changes in delivering healthcare are effecting the patients, clinical operations, and the cost of doing business. Most medical offices in my little corner of the world are part of groups. Those groups have specialists and hospital affiliation for diagnostic testing (economies of scale), but the dental healthcare system does not.

Dental Healthcare … Statistics tell us that dental healthcare professionals make more money than medical professionals at the same level. However, the cost of operations weighs much heavier on the dental community. When I was in Dr. Peter’s (MD) office I noticed his Ritter exam table, Ritter is a Midmark Co. and the exam table probably costs about as much as a Midmark dental chair. But, there was no x-ray, overhead light, high & low speed handpieces, lasers, and you know the rest. Dr. Peter refers to central out-patient services for diagnostic testing and clinical procedures. Your dental office is part of out-patient services, you do same day clinical procedures and in the near future you have to consider being a One Stop Shop.

One Stop Shop … In my opinion, the dental office of the future will need to offer all special services (Endo, OS, Perio, Pedo, Ortho, etc. ). All of these services are individual revenue streams and profit centers. Specialist graduating a dental specialty program today, unless they have a unique situation, will not have their own practices. They will be working for a group or they will be a traveling specialist. With more GP’s doing endo, implants and ortho, the specialist of the future will not be able to justify their own office, considering the cost of operations and relying on referrals. Also, with falling insurance reimbursement rates the general practice will need the added volume to offset the loss of net revenue.

Net Revenue … I have been in the dental industry for over 40 years. I have seen the changes in healthcare over the decades and changes happen in medical about 5-7 years before dental. Everything the dental office deals with today has been effecting medical for years. So why not predict that the future of dentistry will be to provide in-house, all out-patient services. The direction healthcare is talking is insurance based and that means more expense in providing secure digital diagnostic information to insurance carriers. The technology required to comply with all the new formats and diagnostics is a large business investment so maybe it is time to consider “economies of scale”

Economies of Scale … You want that new CBT that does bitewings. The more that machine is used, the more revenue it generates. That $7k implant motor generates revenue every time it is used. Your new Tri-Auto ZX2 endo system adds billable procedure codes to your day. By utilizing specialties the shared cost of operations will benefit the practice as well as the patient.

Out-Patient Services … In a practical sense, a dental office is an out-patient clinic. The quality of the clinic and the services they offer are at the discretion of management, but by offering as much as possible in-house, you will attract new patients and capture a good part of your lost revenue. Please feel free to contact me at any time with any questions or concerns.

Total Health

July 23, 2018 Posted by | Uncategorized | Leave a comment