Cliff's Notes

The Business of Dentistry

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!

 

Advertisements

October 18, 2018 - Posted by | Uncategorized

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: