Cliff's Notes

The Business of Dentistry

The Employee Handbook!

Cliff’s Notes for March 6, 2011

….. E-Blast….. 

 

Cliff Marsh, Henry Schein ……Cell: 201-321-7494……Fax: 201-262-2210…..E-mail: cliff.marsh@henryschein.com

http://www.cliffsnotesblog.wordpress.com

  

Just the act of listening means more than you can imagine to most employees”

Bob Nelson

 

In This Week’s Issue

  • Cash Flow? What’s that?
  • Employee Handbook?
  • Product Review – miniMARK One Piece Dental Implant w/ the Zest Locator!

  

Cash Flow? What’s That?………………………………………………………………………………….

Cash flow is the blood of your business and probably one of the most overlooked profit centers in the practice. To understand how cash flow is a profit center, you need to understand exactly what a profit center is. A profit center is an area of your business that is responsible for production. Production, being the front office as well as the clinical team.

Cash flow is usually understood to be the total amount of cash that is generated and received by a company, along with the amount of cash that is used for expenses of the organization. Generally, tracking cash flow means the immediate recording of transactions in a cash journal. Monitoring cash flow is considered essential to having an accurate picture of the financial stability of the business, and often can yield information that can be used to improve the economic condition of the company.

A cash flow can be associated with the general operation of the company or with a particular component or project. For example, when one department maintains a discretionary fund, a record of cash flow will be maintained. The idea behind recording receipts as well as expenditures that are paid out will help the business to recognize when an incidental expense becomes a recurring one, and should be added as a line item to the budget.

When a business is broken down into profit centers, cash flow can be monitored more efficiently.

Profit centers are based on production. In most dental offices the business profit center overlaps the clinical and different team members are responsible for similar tasks. Usually it is because of intimate knowledge of certain areas of the practice. Your office manager does not know what you use in the op and your assistant does not know the office functions. Everything needs to be turned into “widgets” so that procurement and distribution of goods and services can centralize for budgeting expenditures. Budgeting is Cash Flow.

We’ll explore more cash flow & profit centers issues next week.

 

The Employee Hand Book……………………………………………………………….

I was in a client’s office last week and we were discussing some issues with the staff and how to increase production. I asked if they had an employee handbook and the answer was yes. When I asked to see a copy of it, the doc had to look through a pile of books (we all have a pile) and finally found it. It hadn’t been updated since it was developed 6 years ago and the current employees didn’t even know there was one. This is a very bad thing!

Employee Handbooks are also often called Policy and Procedures Manuals. The Handbook/Manual is a statement of the policies of the business and how the business is to be conducted. The company employee handbook is one of the most important communication tools between your company and your employees. Not only does it set forth your expectations for your employees, but it also describes what they can expect unambiguous as possible. Misunderstandings or misstatements can create legal liabilities for your business. In legal disputes courts have considered an employee handbook to be a contractual obligation, so word it carefully. Don’t try to do it yourself! Spend some money and have a professional help formulate it. Remember, if you play with fire, expect to get burned.

This “business essential” document is part of your risk management program. Unfortunately we live in a very litigious society. People tend to see financial gain in utilizing laws designed to protect worker’s rights. I see this all the time. Mishandling an employee situation can be financially and emotionally devastating. Even when you are in the right, if you don’t have the proper documentation in a dispute, the law will side with the employee. A legal review is black & white. Your past generosities are not and will not be considered by a Judge.

In one (local) case, a staff member walk out during the day and verbally told the office manager that they were fed up with a particular situation and were not coming back. When the employee did not show up the next day, the office hired a replacement. Two days later, the staff member called to apologize and asked to return. The office informed them that they said they were leaving and the position was filled. Well, nothing was in writing and as it turns out, the employee had a medical condition that no one knew about. Litigation began and 1 year later, after $15,000.00 in legal (defense) fees, the case was settled for $95,000.00. On top of that, the office’s liability insurance carrier raised their rates. 

To quote a very old cliché “a stitch in time saves 9”. For more information on employee relations, please feel free to contact me at any time. 

Product Review: miniMark w/Zest Locator……………………………………………

miniMARK One-Piece Dental Implant SystemMake Your MarkIntroducing the miniMARK Denture Implant SystemThe miniMARK implant system allows dentists to provide denture stability with a minimally invasive procedure.

$168.99 – Locator & Screw

Log onto www.henryschein.com for size availability.

Search – miniMARK

ACE Surgical Supply is partnering with Henry Schein to introduce the miniMARK Dental Implant System—the first mini implant system that offers the Zest LOCATOR Attachment for securing implant-fixed dentures. The incorporation of the LOCATOR attachment offers proficiency and patient satisfaction, allowing the clinician to place implants and restore dentures during a single dental visit.

The miniMARK system includes a variety of features across its 3 implant offerings, some of which include micro-grooves at the implant neck for maintaining crestal bone, as well as a 3-mm diameter prepable abutment head for maxillary lateral incisors and mandibular central and lateral incisors. It also has a tapered 2.3-mm thread that provides improved insertion and immediate fixation. Sharp cutting flutes provide easy implant insertion and Resorbable Blast Media (RBM) surface texturing for improved osseointegration.

For size availability, log onto www.henryschein.com and search miniMARK.

Sunday, March 6, 2011………………………………………..

The snow is gone and anything else that falls from the sky can now be called liquid sunshine. It’s time to fill the birdfeeder and start that spring clean-up. Enjoy the day and please be safe.

Cliff

Cliff Marsh

Henry Schein Dental

P.O. Box 663 / 45 Rt. 46 East, Suite 605

Pine Brook, NJ 07058

Cell: 201-321-7494

Fax: 201-262-2210

cliff.marsh@henryschein.com

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March 6, 2011 - Posted by | Uncategorized

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