Oral Health Office March 2017 by Annex Business Media

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OFFICE W W W. O R A L H E A L T H G R O U P. C O M

MARCH 2017

PM. 40063170

2017 AWARD S OF DIS TI NCTI ON

GALA

SATURDAY, APRIL 29, 2017 Grand Ballroom, Sheraton Centre Toronto, 123 Queen Street West, Toronto

Proudly honouring: Dr. Grace Bradley, Dr. Larry Levin, Dr. Elizabeth MacSween SATURDAY, APRIL 29, 2017 6:00 p.m. Cocktails • 7:00 p.m. Dinner Silent Auction, trip rafﬂe, entertainment & dancing $295 per person Black tie preferred

TO MAKE A DONATION OR ASK ABOUT SPONSORSHIP, CONTACT: Miriam Stephan, Manager of Alumni Relations University of Toronto Faculty of Dentistry at 416-979-4940 or miriam.stephan@dentistry.utoronto.ca

Supporting the Access to Care Fund and the Teaching Clinics Fund – we provide an essential health service for an entire community in need of access to care. At the Faculty of Dentistry we help change lives.

ORDER TICKETS ONLINE: www.alumni.utoronto.ca/gala2017

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OFFICE W W W. O R A L H E A L T H G R O U P. C O M

Features OFFICE DESIGN

6 Moonstone Dental 20 Dentistry on Centrepoint TRANSITIONING

8 Investor Dentists™ and the

Return On Investment (ROI) Timothy A. Brown MARKETING

14 Top 10 Secrets Dental Marketers Don’t Want You To Know

Michael Carabash, BA, LLB, JD, MBA FINANCE

22 Are You Sabotaging Your Retirement? Wilson Chen, BSc, DDS, CFP, FMA

Departments 4

News Briefs: Dental Assistant Recognition Week Dental Companies Donate Dental Chair and X-Rays

Editorial: To Market, To Market to Buy That Next Thing

Dental Marketplace

oralhealthgroup.com | Oral Health Office | MARCH 2017

oralhealth

4 News

OFFICE Dental Assistant Recognition Week is March 6-12 March 6-12 is National Dental Assistants Recognition week. “Dental Assistants: Patient focused with Passion and Purpose” is the theme for the 40th annual Dental Assistants Recognition Week. Fortis stands in partnership with the American Dental Assistants Association (ADAA) to celebrate Dental Assistants Recognition Week. Throughout the week, Fortis Colleges and Institutes will celebrate students who are part of the school’s Dental Assistant Program. The work these students do following graduation will help many community residents maintain good oral health and a great smile. As the field of dental assisting expands, so do the responsibilities for these professionals. The scope of their practice and duties have dental assistants playing a bigger oral health role in the 21st century. Dental assistants today not only sit in with practicing dentists, they take X-rays, help manage the office, and even learn the insurance side of patient care while being asked to help dentists in a variety of ways.

Editorial Director: Catherine Wilson 416-510-6785 • catherine@newcom.ca

Assistant Editor: Jillian Cecchini 416-442-5600, ext. 3207 • jillian@newcom.ca Art Direction: Carolyn Brimer Production Manager: Phyllis Wright Circulation: Mary Garufi 416-614-5831 • mary@newcom.ca Advertising Services: Karen Samuels 416-510-5190 • karens@newcom.ca Classified Advertising: Karen Shaw 416-510-6770 • karen@newcom.ca Associate Publisher: Hasina Ahmed 416-510-6765 • hasina@newcom.ca Senior Sales Manager: Tony Burgaretta 416-510-6852 • tonyb@newcom.ca Account Manager: Holly Power 416-510-6846 • holly@newcom.ca Web & Social Media Coordinator: Krysten McCumber 416-510-6777 • krysten@newcom.ca Dental Group Assistant: Kahaliah Richards

NEWCOM BUSINESS MEDIA INC.

Dental Companies Donate Dental Chair and X-Rays to Yemin Orde Youth Village Henry Schein, Inc. today announced that it has joined supplier partner Takara Belmont to donate more than $50,000 in dental equipment to Yemin Orde Youth Village, an Israel-based home, school, and safe haven to 440 at-risk and immigrant youth from around the world. The donation is an initiative of Henry Schein Cares, the company’s global social responsibility program. As part of the donation, Takara Belmont and Henry Schein donated and installed a Credia G1 dentl chair, Phot-X II dental X-ray machine, and other related products to enhance Yemin Orde’s ability to treat the oral health needs of its residents. This donation upgrades Yemin Orde’s on-site health clinic and allows the organization to re-allocate funds that would otherwise be dedicated to external resources and transportation costs for procedures that could not previously be conducted on site. The Youth Village first opened its doors to homeless refugee children who arrived in Israel shortly after the Holocaust. Today’s children are first-generation Israelis—or the children of first-generation Israelis—who come from countries where anti-Semitism and violence against Jewish people is rising, educational opportunities are scarce, and poverty is overwhelming. “We at Henry Schein understand that oral health and overall health are inextricably linked, so we are incredibly pleased to help enhance the ability of the Yemin Orde Youth Village to provide essential health services to the young people who call it home,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein, Inc. “We thank our partners, Takara Belmont, for their generosity in donating this much-needed equipment and for sharing our commitment to expanding access to care for people in need.” For more information, visit www.yeminorde.org and www.helpinghealthhappen.org.

MARCH 2017 | Oral Health Office | oralhealthgroup.com

Chairman and Founder: Jim Glionna President: Joe Glionna Vice President, Operations: Melissa Summerfield Controller: Anthony Evangelista Director of Circulation: Pat Glionna OFFICES Head Office: 80 Valleybrook Drive, Toronto, ON M3B 2S9. Telephone 416-442-5600, Fax 416-510-5140. Oral Health Office is designed to provide the entire dental team with business management information to make practices more successful. Articles dealing with investment planning, personal finances, scheduling and collection procedures, in addition to lifestyle issues, are geared to all practicing Canadian dentists, hygienists, dental assistants and office managers. Please address all submissions to: The Editor, Oral Health Office, 80 Valleybrook Drive, Toronto, ON M3B 2S9. Subscription rates: Canada $20.00 for 1 year; $37.00 for 2 years; USA $23.00 for 1 year; Foreign $43.00 for 1 year; Single copy $12.00. Printed in Canada. All rights reserved. The contents of this publication may not be reproduced either in part or in full without the written consent of the copyright owner. From time to time we make our subscription list available to select companies and organizations whose product or service may interest you. If you do not wish your contact information to be made available, please contact us via one of the following methods: Phone: 1-800-668-2374; Fax: 416-442-2191; E-mail: mary@newcom.ca; Mail to: Privacy Officer, 80 Valleybrook Drive, Toronto, ON M3B 2S9. Canada Post product agreement No. 40063170. Oral Health Office is published twice in 2016 by Newcom Business Media Inc., a leading Canadian information company in business-to-business information services. ISSN 2291-1448 (PRINT) ISSN 2291-1456 (ONLINE)

Editorial

CATHERINE WILSON, EDITOR

To Market, To Market to Buy That Next Thing…. “Old school mentalities – like dentistry is a profession, not a business OR doing good dentistry is your best marketing – still permeate. There hasn’t been much in terms of teaching proper marketing for the new millennium.” Michael Carabash, managing partner of DMC LLP. Why in the world do you, Dr. Dentist, have to know anything about, let alone participate in marketing in the new millennium? See paragraph above. As touched on in this issue by dental profession experts in their fields, Dr. Wilson Chen, Michael Carabash and Timothy Brown, landmines, er, opportunities abound. When you were in dental school, did you discuss social media, building your brand, investor dentists, the corporate dentistry phenomenon or how about the power of charity, the danger of resting on your laurels (often known as your degrees), being comfortable with the status quo, the perils of being an absentee owner or could you take direction from a non-dentist owner? Again, see paragraph one! Marketing, in all its permeations, is a fascinating and dangerous undertaking. Let’s focus on the fascinating. Oral care recorded current value growth of two percent in Canada in 2015, to reach CD$1.1 billion., according to Euromonitor International. Over the review period, consumers took greater interest in their oral health, which saw them supplement their oral hygiene routine of toothbrushes and toothpaste with dental floss and mouthwashes/dental

rinses. However, the unemployment rate in Canada remains moderately high so in order to avoid visits to the dentist, consumers also became more careful about their oral care, considering the high cost of such visits. Most oral care manufacturers managed to maintain their value shares in a highly competitive environment. As Euromonitor reports, “oral care is set to reach CD$1.1 billion by 2020. The relatively high penetration of staple oral care products in Canada means that substantial retail volume growth is unlikely over the forecast period. Increased diversification and wider product portfolios will be key to the continued growth of oral care over the forecast period. As a result, manufacturers are expected to focus on providing targeted care to address specific needs.” “In the modern world of business, it is useless to be a creative, original thinker unless you can also sell what you create.” – David Ogilvy While dental professionals sometimes bristle at the thought of being business owners rather than healthcare providers, dental professionals must still ask themselves simple questions concerning marketing: Compared to my competitors, and yes, Dr. Dentist, the next shingle down is your competitor, is your strategy dull or fresh; conventional or unique; usual or novel; commonplace or innovative? Home again, home again, jiggity jig…

oralhealthgroup.com | Oral Health Office | MARCH 2017

6 Office Design

MOVIN’ ON UP MOONSTONE DENTAL

A COSMIC EXPERIENCE What happens when the perfect client meets a Daring Designer and Dedicated Construction team? The stars align, and something exciting is created. Such is the case for Moonstone Dental – a new office situated in Oakville, Ontario. The design approach, which De Style Design Inc. takes, is unapologetically bold, using such language as elliptical shaped partitions, custom curved doors and oversized graphics. The intent was to create a series of meandering transitional spaces which gradually shape the idea of the lunar theme, prior to the patients arriving at their “space capsule” – otherwise known as the dental chair. Functionally, the bold accents are positioned to provide the first impression, as well as for consultation rooms, where treatments are being discussed. Functionality is not compromised and all of the areas, sculptural as they may be, have sufficient space to accommodate storage and office cabinetry. Staff and service areas are tucked away from the MARCH 2017 | Oral Health Office | oralhealthgroup.com

main treatment area, in order to keep all interruptions to patient flow to a minimum. Sterilization, the functional core of the practice is highlighted by a bold circular glass panel, set within drywall and secured with perimeter wood trim. The aesthetic is designed to emulate a porthole in spaceships, including the stainless steel caps, to evoke once again the space thematic. In order to transform the space from concept to reality, many meticulous hours on site were required in order to map out the curvilinear elements and carefully integrate lighting with walls, custom doors and cabinetry. Antham Construction team rose to the task, drawing on their significant experience to ensure the project was executed to the client and designer expectations. Careful coordination was required throughout all stages of the project with the dental team from Henry Schein – to ensure that all the cutting edge dental equipment is accommodated and highlighted properly in the space.

Office Design

oralhealthgroup.com | Oral Health Office | MARCH 2017

8 Transitioning

INVESTOR DENTISTS™ AND THE RETURN ON INVESTMENT (ROI)

By Timothy A. Brown

ur firm was recently asked by a bank to measure the return on investment of an Investor Dentist™ acquisition. Specifically, they wanted to know the annualized Return on Investment (ROI) for the absentee owner (hands-off) dental practice investment model. This request was due to a failure of an unrelated i-Dentist™ who was unable to meet his/her income targets and subsequently defaulted on the loan. Bankruptcy and liquidation of the dental practice was the unfortunate result. While this is a rare case, some of the details of this bankruptcy will trickle through the marketplace and it may impact how all banks now look at their credit scoring systems for any dentist who owns or aspires to own more than one practice in Canada. Banks and the tightening of their policies towards lending are a leading indicator of the “bubble” that is talked about much more frequently of late. When banks retract and credit policy tightens, values stop rising. It is an inevitable phenomenon when a market has risen steadily for over a decade and dental practice values may now be at their peak. Let’s consider the view of the various invested parties; when looking at debt service ratios (as most accountants do) practice values have peaked. From the buy-side (high demand), values are well beyond their comfort levels. From the sell-side (owners), there is little objection to the present high sale prices. From my perspective as one who assesses the value of Canadian dental practice values daily—yes, we are now at the peak. With those views in mind, and con-

MARCH 2017 | Oral Health Office | oralhealthgroup.com

sidering the recent statement made by the chief executive officer of Canada’s largest bank that Toronto’s housing values are unsustainable and require financial restrictions, it’s likely this sentiment will permeate through all the banks’ credit and risk departments. This will certainly have the largest impact on the health care practice sales marketplace. For those who already have multiple locations I caution you that your loan portfolio is likely to be examined and reviewed more frequently and the rights and privileges contained in the banks’ loan documents will be acted upon more often and without extension. Items such as interim financial statements (which your accountant may have to prepare on short notice at your cost), properly written associate agreements, premise lease renewals and other important business documents will be demanded within the bank credit terms that were first extended to you when taking out the debt instrument(s). By coincidence, we appraised such a practice for a client in March, 2014 and because he regularly updates all his information, including his dental practice appraisal, we completed another appraisal for him of the same practice as of January, 2017—a 34-month investment analysis.

The highlights are as follows: This investor dentist purchased this practice from a client of our firm in 2012 for $2 million. In March of 2014, roughly two years later, we appraised the practice at approximately $2.2 million, a 10%

Transitioning

increase in the first 2 years. Not bad. As of January, 2017 we appraised the practice at approximately $2.8 million. This investor dentist is highly regarded as a sophisticated and savvy i-Dentist™ by our firm and he has proven that he can maximize efficiencies, stimulate new patient flow and treat his associates and staff with respect and reward. He has replicated this process of buy, improve and then remarket numerous times. He jokingly calls himself a ‘flipper’ but in my opinion he does it with class! Here is the bottom line. During his 3rd, 4th and 5th years of ownership (a 34-month period from 2014 appraisal to 2017 appraisal) the practice increased in market value by $600,000. This represents a 27.3 per cent increase in value over 34 months. That averages out to about 0.8 per cent per month increase in valuation. That also works out to about 9.1 per cent increase in value on a simplified and annualized basis. Therefore, this is a positive example of an absentee owner, investor dentist purchase proving that a dental practice is indeed an exceptional investment, which is the byline of my book titled, Profitable Practice. When compared to other investments such as common stocks, guaranteed investments (GIC’s or bonds) the return on investment is impressive. Not to mention the practice has reduced the debt (since the original purchase in 2012) in the amount of about $460,000 (principal only) and the i-Dentist™ has also drawn a respectful salary/shareholder draw of over $200,000 each year. I have seen other instances where the

return on investment has been greater; particularly, when the investor dentist™ enters the practice both as an active owner/manager and one who also brings in additional specialty procedures that he/ she can perform that were previously referred out. If this occurs, the return on investment or the growth rate can be substantially higher. In other instances, when the investor dentist™ is not an experienced manager/ owner, particularly in respect of the everimportant human resource responsibility, they may have difficulty recruiting and motivating associates or accidentally demoralize the staff and the result is a negative return on the investment. While the investor can usually service the debt load and pay the wages, Associates and operating costs, he/she may be unable to draw a salary/dividend for the first one to three years of ownership. This is largely due to amateur mistakes that most dentists make in the early years of ownership. Certainly, all of us made mistakes in the early years of ownership. To conclude the investor dentist business model can be profitable subject to the skills of the individual dentist. I would caution those who have acquired, or plan to acquire multiple practices, that business experience in human resource management is one of the most critical skills that allows an i- Dentist™ to succeed. The greatest failure of an investor dentist when examining human resources is that he/she simply does not consider the legacy, the reputation and the connectivity that the existing staff or the previous owner and/or associates have oralhealthgroup.com | Oral Health Office | MARCH 2017

10 Transitioning

with the patients. Often, the investor dentist™ mistakenly assumes that he/ she can replace long-term existing staff with inexperienced or lower-cost staff to reduce overhead. The most common result; the patients do not respond well and leave for other nearby competitors. The patient experience is a very important contributor to patient retention and new patient referrals. Most of the research indicates that new patients come from existing patients who are satisfied and they refer their friends and family. All the marketing and all the social media in the world cannot compete with a direct patient referral. N Now let’s turn quickly to the corpo porate dentistry phenomenon. Many M people wonder how some of these groups can acquire, 10, 20, 50 or more practices. How Ho do they do it? What is their secret to success? What the are their failure rates? Do they have weaknesses in their business model? Obviously, busin there is a lot of speculation about corporate model. While delivthe corp ering a CE seminar on a cruise ship in mid-February of this year (thanks (thank to Kennedy Seminars of Winnipeg) many of the more Win mature matu members in the audience had some serious reservations about corporates. Those Tho over 50 in the room remembered b d the days of Tridont Dental Centres and most had heard some stories—not all good—about the current generation of accumulators. Rumours are rumours and some have been inflated by those who made poor decisions and have regrets that they sold their practices prematurely. Others are bothered with the frustration of no longer owning the practice and having relinquished their ‘control’—not an easy thing for type “A” personalities to do! This can happen in any type of dental practice transitions—corporate or not—but there is some merit to heeding the concerns that are voiced on an ever-increasing basis. For example, it is difficult to sell your practice and then work for the buyer and watch them make MARCH 2017 | Oral Health Office | oralhealthgroup.com

changes. Some will make the same mistakes you did when you started out – and it’s not easy to stay quiet and some have been known to interfere with the new owner with words of advice like “when I was your age” or “we always did it this way” – advice that can be valuable but not always well received nor timed in terms of delivery or tact. No matter how small or insignificant—change comes at a price—and as we age we adapt to change much more slowly and for some, not at all! What sacrifices are we prepared to make to sell our practice, get the cash and then continue working for the buyer? Can you take direction from a non-dentist manager? Can you adapt? Are you sure?

Here are the thoughts of dentists I am hearing. I dread the thought of selling and working for the corporate but maybe as I age that will change? At this time, I prefer to remain the sole decision maker and the captain of my own ship. Yes, there are numerous owner/operator challenges—human resources come to mind. But I can do it. At 53 years young I am confident I can do this for another 3 to 5 years (standard baby-boomer mantra!) and in the 3 to 5 years I will review and probably decide that I can then do this for another 3 to 5 years! Until then, I suffer the joys of ownership and the profits associated with them. It is also important to consider the terms of these corporate offers to buy a practice. There are as many formulas, structures and types of transactions as there are corporates—and they often change their business model/buying proposals to suit the individual’s location and logistics. When the market evolves, corporates must adapt. What you heard just 6 months ago about selling to a corporate may not be the present transaction structure. It is evolving quickly and corporates are competing against each other for your attention, and primarily for your practice. The most coveted asset you have is your client list and they want to own it, control it, manage it and benefit from the cash flow your clients generate in your practice. In exchange for that, you get a

Transitioning

cash/shares/earn-out offer up front and for most, you also get a job for a specific term. Some see it as a get cake and eat it too scenario but others see it as buying your practice back from yourself or certainly working to help the corporate pay off their debts. Large corporates are successful because they have access to capital markets and lower cost finance terms than an individual or the smaller investor dentist™ buying groups. The result is what I term, “patient capital” or “investor capital”, meaning they are not required to make immediate principal and interest payments. This frees a substantial amount of cash flow for the large corporate and they are more financially nimble to re-invest cash flow and acquire more practices rapidly. Large corporates also have professional human resource managers and other management systems to control supply, laboratory and training costs. An investor or corporate that has, say upwards of 100 locations, has buying power and economies of scale that most smaller businesses only dream of. The weaknesses of the corporate business model are their institutional style and approach. They are corporatized. They are systematized and often this means ignoring the individuality of all the unique practices they are buying and converting to fit their corporate model. To clarify consider the example of a McDonalds restaurant chain. McDonalds does not buy individual burger stands and convert them to McDonalds. McDonalds only starts from scratch, that way, every single system, every single policy, every piece of equipment, everything about the business is done according to the franchise and the proven business system manual. A corporate or investor when buying multiple practices in multiple locations is acquiring different dental software, different management styles, different philosophies, different equipment configurations and so on. Imagine all the logistical strategies needed to try to convert 50 or 100 dental practices over a 5 or 10-year period into a systematized, organized, marketized system of delivering

quality dental care to an efficient, overhead ratio. In my industry, it would mean I buy a competitors’ brokerage and begin to learn all their software, get to know all their people, all their policies which are likely very different than mine, their fee structures, their collection policies, their marketing systems etc. Frankly, a daunting task I am not about to take on anytime soon. To conclude, the investor dentist™ business model can be an exceptional and lucrative investment, as evidenced by the sample practice discussed earlier. Secondly, not every dentist should consider this model for him/herself unless he/she has outstanding human resource management skills and access to financing that is not restrictive nor highly leveraged. These are the main prerequisites and necessary skills of the successful corporate or investor dentist.

LEGAL SERVICES FOR DENTISTS H E A LT H C A R E L AW Y E R S

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Practice Purchases/Sales Practice start ups Professional Corporations Other corporations Commercial Leasing Associate, partnership, cost-sharing and other agreements • Health law, employment, financing, regulatory and practice issues • Other business/commercial matters Serving the needs of Health Care Professionals across Ontario for over 30 years

Gina M. DaRoza 462 Wellington St W, Suite 500 Toronto, ON, M5V 1E3 gdaroza@capplaw.ca www.capplaw.ca Tel: 416 955 9502 Fax: 416 955 9503

oralhealthgroup.com | Oral Health Office | MARCH 2017

ABELDent: A Superior Solution for Good Reason Our commitment to being zŽƵƌ ^ƚƌĂƚĞŐŝĐ WĂƌƚŶĞƌ ĨŽƌ WƌĂĐƚŝĐĞ ^ƵĐĐĞƐƐ dD is more than a slogan: It is a promise that we take seriously. From the initial investment through conversion and implementation and for the life of your practice, our goal is to add value at every turn. Put our unparalleled clinical and practice management solutions to work for you.

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learning: customized training, webinars, educational videos, and many other MyABEL tools for your entire team. 8. Achieve peak patient communication: fully

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integrated Portal for practice/patient interaction that goes far beyond email and text reminders. 9. Go fully paperless at any time without the

conversion continuity, integration with most third-party imaging software at no additional charge and customized training for a smooth and efficient transition to your new software. 5. Realize immediate workflow benefits and

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Take Your Practice to the Next Level with DĂŶĂŐĞŵĞŶƚ ďǇ KďũĞĐƚŝǀĞƐ ŝƐ Ă ƚƌŝĞĚͲĂŶĚͲƚƌƵĞ ŵĞƚŚŽĚ ĨŽƌ ĞƐƚĂďůŝƐŚŝŶŐ ďƵƐŝŶĞƐƐ ŐŽĂůƐ͕ ŵŽŶŝƚŽƌŝŶŐ ƉĞƌĨŽƌŵĂŶĐĞ ĂŶĚ ĂĐŚŝĞǀŝŶŐ ĚĞƐŝƌĞĚ ƌĞƐƵůƚƐ͘ EŽǁ > ĞŶƚ /ŶĐ͘ ŝŶƚƌŽĚƵĐĞƐ WƌĂĐƚŝĐĞ DĂŶĂŐĞŵĞŶƚ dD dD Ǉ KďũĞĐƚŝǀĞƐ ;WD K Ϳ ʹ ŽƵƌ ƉƌŽƉƌŝĞƚĂƌǇ ŵĞƚŚŽĚŽůŽŐǇ ĐŽŶƐŝƐƚŝŶŐ ŽĨ Ă ƐƚƌĂƚĞŐŝĐ ŵŝǆ ŽĨ ƐŽĨƚǁĂƌĞ ĂŶĚ ƐĞƌǀŝĐĞƐ ĐƵƐƚŽŵŝǌĞĚ ƚŽ ĞŵƉŽǁĞƌ ǇŽƵƌ ƚĞĂŵ ƚŽ ŵĞĞƚ ďƵƐŝŶĞƐƐ ŐŽĂůƐ͘ Ɛ zŽƵƌ ^ƚƌĂƚĞŐŝĐ WĂƌƚŶĞƌ ĨŽƌ WƌĂĐƚŝĐĞ ^ƵĐĐĞƐƐdD͕ ǁĞΖǀĞ ŝĚĞŶƚŝĨŝĞĚ ^ŝǆ <ĞǇ KďũĞĐƚŝǀĞƐ ƚŚĂƚ ĐŽŶƐŝƐƚĞŶƚůǇ ĚƌŝǀĞ ŵĞĂƐƵƌĂďůĞ ŝŵƉƌŽǀĞŵĞŶƚ͘ >Ğƚ ƵƐ ƐŚŽǁ ǇŽƵ ŚŽǁ ƚŽ ĂƉƉůǇ ƚŚĞŵ ĨŽƌ ŶĞǆƚͲůĞǀĞů ƉĞƌĨŽƌŵĂŶĐĞ͘ ϭ͘ WƌĂĐƚŝĐĞ DŽŶŝƚŽƌŝŶŐ ƵƐŝŶŐ <W/Ɛ ;<ĞǇ WĞƌĨŽƌŵĂŶĐĞ /ŶĚŝĐĂƚŽƌƐͿ

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ϱ͘ ^ĂǀĞ dŝŵĞ ĂŶĚ DŽŶĞǇ ďǇ dƌĂŶƐŝƚŝŽŶŝŶŐ ƚŽ WĂƉĞƌůĞƐƐ

ϲ͘ ZĞŝŶĨŽƌĐĞ ^ǇƐƚĞŵ ^ĞĐƵƌŝƚǇ

ŝƐĐŽǀĞƌ ŚŽǁ > ĞŶƚ ĐĂŶ ŚĞůƉ ǇŽƵ ƚŽ ƚĂŬĞ ǇŽƵƌ ƉƌĂĐƚŝĐĞ ƚŽ ƚŚĞ ŶĞǆƚ ůĞǀĞů ƵƐŝŶŐ WD K͘ Ăůů ϭͲϴϬϬͲϮϲϳͲ > ;ϮϮϯϱͿ Ğǆƚ͘ ϭ K ŶŶƵĂů ^ƉƌŝŶŐ DĞĞƚŝŶŐ sŝƐŝƚ ƵƐ Ăƚ ŽŽƚŚ ϭϲϭϭ

info@abeldent.com

1-800-267-ABEL (2235)

www.abeldent.com/oh

14 Marketing

TOP 10 SECRETS Dental Marketers Don’t Want You To Know By Michael Carabash,

B.A., LL.B., J.D., M.B.A.

Michael Carabash is the managing partner of DMC LLP, a boutique dental law firm that helps dentists start, scale and sell their practices. His websites are www.DentistLawyers.ca, www.DentistLegalForms.com, and www.DentalPlace.ca. He can be reached at 647-680-9530 or michael@dentistlawyers.ca. Michael is currently recruiting dentists, dental students, hygienists, equipment suppliers and support staff to volunteer in Jamaica in September 2017. Contact him to learn more.

e is young and sharply dressed. A so-called ‘marketing guru’ for dentists and a real smooth talker. His elevator pitch puts dollar signs in your eyes. He promises you a steady stream of new patients through flashy direct mail campaigns, a beautiful website and robust social media, and very high Google rankings. You tell yourself that his huge fees are worth it: you just need a few new patients to make your money back, right? And everyone else seems to be doing the same thing anyways, right? But it’s not all right. And you’re about to learn an expensive life lesson. Because when you don’t see real results, but do feel your wallet getting lighter every month, you’ll eventually want out. Perhaps you’ll try to cancel the contract (and pay a hefty financial penalty in the process). You may even hire a lawyer to try to get your money back – with no guarantee of success. In the end, you will be worse off. Filled with anger and regret. Having wasted your time and money. Having only learned what you SHOULD NOT be doing. So don’t take that phone call or meeting. And don’t sign any contract. Instead, do your homework. And that starts right here, right now. W hat follows are the TOP 10 SECRETS dental marketers don’t want you to know. Because armed with this knowledge, you’ll realize that you won’t need them as much OR at all to bring in new patients. Now buckle up, because reality is about to hit.

MARCH 2017 | Oral Health Office | oralhealthgroup.com

SECRET #1: Focus on Existing Patients As Dr. Arsalan Poorsina (multiple practices across Ontario) puts it: “Our best new patients come from our existing patients. Hands down, internal referrals are the least expensive and most effective way of getting new patients. Happy patients are our best sales force.” Why, then, do so many dentists focus on acquiring any patient from the internet? Perhaps they feel they need to. They see what others are doing and copy. Maybe they get swindled by dental marketers. Or perhaps they feel legally restricted when it comes to the kinds of marketing campaigns they can run to incentivize their existing patients to refer. But that’s pure HOGWASH. There’s nothing illegal, for example, about calling a patient on their birthday to wish them well, see what’s new in their lives, and ask for feedback and referrals. That patient will probably be SHOCKED that their very own dentist called to wish them well and tell the whole world about that experience – because it shows their dentist actually CARES about them. And what did that quick phone call actually cost? Not much.

SECRET #2: Find Your Niche By targeting everyone, you attract no one. Ronald Fung, business strategy consultant with Valeo & Co., states that: “In today’s competitive landscape, if you want to survive and thrive, you must differentiate your practice and be meaningful to your ideal patient”.

Marketing

Dr. Fadi Swaida (multiple practices across Ontario) understands this principle quite well. When he set up Bond Street Dental in the heart of Ryerson University less than a year ago, he focused on providing dental care primarily to university students. Why? Because they have dental benefits, care about their oral hygiene, will walk by the clinic, and hang out with…you guessed it: other students. How successful has this niche strategy been? Well, in the limited time it has existed, Bond Street Dental has amassed over 700 ideal and active patients. Outstanding for a new downtown Toronto dental practice!

SECRET #3: Build Your Brand Dr. Arsalan Poorsina, who came up with the DentalHouse brand for his various practices, explains why people buy brands: “Brands are familiar, trustworthy, timeless, and consistent in what they deliver.” So what is a brand? Well, it IS NOT a practice’s logo, ads, website, mission statement, colour scheme or slogan. It may not even include the principal dentist’s name or the practice address. A brand IS the personification of values and feelings that are INBETWEEN a dental practice and the patient. It is what a patient experiences (sight, smell, hearing, touch, gut feeling) when they are exposed to a practice – both online and offline. Successful brands are engineered to attract a specific group of loyal patients by addressing their needs and desires; and it keeps them coming back throughout their lives. It gives dental practices a huge advantage in a fiercely competitive industry. To create a successful brand, you need it to spread socially. Patients, however, aren’t going to automatically sing your high praises every chance they interact with others. But they will talk about cool brands; brands that evoke emotions and which are triggered by associations to other things; brands that are in the public realm; brands that are loaded with tons of practical benefits; and brands that have human stories associated with them.

Don’t put your brand on the merrygo-round of mediocrity. To stand out and be memorable, your brand needs to be BOLD and be communicated LOUDLY to your target audience. Don’t forget to periodically refresh your brand. Finally, giving back can help elevate your brand. Coincidentally, ever dentist featured in this article has done some form of dental outreach in Jamaica. Their hard work and heart-warming stories have helped humanize them.

TOP 5 BOOKS FOR BRAND BUILDING: Jonah Berger, Contagious Idris Mootee, 60 Minute Brand Strategist Jeremy Miller, Sticky Branding Daymond John, The Brand Within Steve Jones, Brand Like a Rock Star

Some mentioned that their patients have become their RAVING FANS as a result – proudly telling others how they took time off to journey to an impoverished country and give back to those who needed it the most. Don’t underestimate the power of charity!

SECRET #4: Six Touches When a dentist runs a marketing campaign, they typically want an instant and positive response. But that rarely happens. The reality is that you need to touch a prospective patient SIX TIMES before they contact you to set up an appointment. Those six touches could include things like seeing your office on their way to work or home, hearing about your practice from an existing patient, finding your practice’s website while Googling, receiving one of your direct mail flyers, or even seeing your practice’s newspaper ads. To get his speciality practice off the oralhealthgroup.com | Oral Health Office | MARCH 2017

16 Marketing

ground, for example, Dr. Gary Glassman (Endodontist, Toronto) touched general practitioners by lecturing at dental trade shows, networking at dental society meetings, publishing quarterly newsletters, and running free CE courses and demonstrations at his dental office. Per Dr. Glassman: “To be top of mind and tip of tongue for endo referrals, we planned multiple interactions every year for both referring and non-referring dentists. This strategy helped us grow exponentially”. Remember: some touches produce better results than others. Two-way communication (example: in person meetings) is way more effective than one-way (example: advertisements). Printed materials are harder to ignore and throw away than, say, e-mails. And touches with simple messages that elicit an emotional response work better than more complicated ones that focus on practical benefits.

SECRET #5: The Patients You Attract – Attract Similar Patients

Pictured left to right: Dr. Arsalan Poorsina Ronald Fung Dr. Fadi Swaida Dr. Gary Glassman Matt Bladowski and Dr. Nohora Martinez Dr. Samantha Amaro

In 2009, Dr. Nohora Martinez and her husband Matt Bladowski (appraiser and strategic management consultant with Dental Strategy) opened their first dental practice in an overlysaturated part of London, Ontario. From the outset, they realized that the first group of patients they attracted would attract similar patients – in terms of education, occupation, income, age, family status, ethnicity, and other socio-economic factors. They wanted to offer high-end dentistry using state of the art equipment in a relaxed environment. They focussed on what Matt Bladowski calls “the whole patient experience”: offering spa like amenities to make patients extremely comfortable, educating them throughout (and taking the time to do so), and being accessible to them when they

MARCH 2017 | Oral Health Office | oralhealthgroup.com

needed it. They targeted resourceful and sophisticated individuals who wanted a higher-end dental experience than they were used to. Importantly, they didn’t offer free services or discounts. They didn’t accept assignment. They didn’t have any big neon signs or marketing posters cluttering up their windows. They were uncompromising in their vision and marketing. Many thought they would starve. But they didn’t. Their first round of patients attracted similar socio-economic patients and the practice grew in the first four years to over 4,000 ideal and active patients (note: it’s more than double that size today, with 5 dentists and over 20 team members).

SECRET #6: Align Your Internal/ External Brands Sometimes, there’s a disconnect between how a practice markets itself externally (very good) and what the patient experiences when they call or step inside the office (very bad). If your team members aren’t sufficiently motivated or capable of delivering your brand’s value proposition, you’ll have disillusioned patients and a high turnover. Per Ronald Fung: “A patient’s first human interaction with your clinic dictates whether they make an appointment and keep coming back. It’s actually easier to disappoint a new patient than to impress them. Every team member needs to be obsessed with giving them the best possible experience. When a patient calls, avoid putting them on hold. If they leave a message, call them back right away. Always be servicing patients with a smile. Greet them by name. Engage them personally. Take your time. Bottom line: patient won’t care about your business – or send referrals your way – until your office shows

Marketing

them how much they care by delivering premium service.” Remember: your team is your second-best sales force after your existing patients. Make sure each team member is ‘with the program’ or replace them quickly.

SECRET #7: Social Media Doesn’t Work (Like You Think) Dr. Samantha Amaro (Toronto)’ has a very robust social media presence for her White Willow Family & Cosmetic Dentistry office that includes Google, Facebook, and Instagram. But she’ll be the first to admit that investing in social media doesn’t translate into a rush of new patients. “People don’t look at our social media and say ‘I need to be a patient there’. Our social media reinforces our brand – namely, that we offer a very friendly atmosphere and gentle dental treatments primarily for government employees and their families. It lets the public know we exist and what we stand for. But patients ONLY come when they NEED something specific from you; when they’re actively searching for you. That’s why running targeted online marketing campaigns is extremely important. You can’t just rely on social media to bring in lots of loyal lifelong patients.” Bottom line: social media websites and apps are best used to disseminate content that reinforces your brand while creating backlinks to your website to enhance its Google juice (i.e. make it more search engine friendly so it ranks higher when patients search for specific keywords).

SECRET #8: Always Be Uncomfortable “When it comes to marketing, there’s no sitting on your laurels” says Dr. Gary Glassman, who runs monthly team meetings to evaluate

the practice’s marketing and plan ahead. To get inspiration for marketing, Dr. Fadi Swaida checks out what American dental practices are up to. “We are 5-10 years behind our American counterparts”, he says. “When I was in Las Vegas and Miami, for example, I saw huge billboard ads for dental implants at seemingly affordable prices using third party financing. I might just try that out and see how it goes.” The quickest way to getting the most new patients is to keep trying new things. Invest in those ideas and campaigns that produce results; tweak or drop everything else. Measure and re-evaluate each month. And always be uncomfortable with the status quo

SECRET # 9: Measure Success “What’s the return on my marketing investment?” That’s what you should be asking before, during and after you run a marketing campaign. If you’re not measuring success, how do you know what’s working? Obviously, you should be tracking things like: number of prospective patients who were exposed to a particular campaign (POSSIBLE LEAD), number of prospective patients who reached out to the practice (online or offline) as a result (WARM LEAD), and number of prospective patients who actually booked (PATIENT). But you can and should dig deeper. For every marketing campaign you run, you should ask: • What was the cost per LEAD, WARM LEAD and PATIENT? • What is the average treatment value of a new patient? • How much did a new patient contribute to the practice’s bottom line that year?

Continued on page 25

oralhealthgroup.com | Oral Health Office | MARCH 2017

The power of

color.

What’s the mood in your office? How does it make patients feel? Is the layout conducive to efficient traffic flow? So many design elements affect the feeling of an environment, from layout and aesthetics to decorating style. But without a doubt, one of the biggest components is color. A powerful design tool, color impacts mood and emotion. It can make us feel warm, cool, nervous or calm. As such, it affects the mood of your patients and staff. While there are many nuances to consider, from hue and tint to tone and shade, this list offers a general overview of what color psychologists tell us.

How do you choose a color? Many interior designers recommend selecting one from the largest pattern in the space, such as a painting. Some suggest taking a cue from the colors you wear. And of course, note the things in life that inspire you and bring you joy. Whether spring meadow green from your favorite hiking photo or azure, reminiscent of tropical vacation waters, color can create a space that reflects your style… and just feels right. Play with operatory color at a-dec.com/InspireMe and share your creations.

Blues–Calm and tranquil. Blue is said to bring down blood pressure and be soothing, relaxing and serene. Dark blues, conversely, convey tradition, loyalty and reliability. Blue is a global favorite color. Browns–Earthy, rich and inviting. Brown feels natural, robust and cozy, encouraging people to slow down and relax. A rich hue invokes a sense of intimacy and togetherness. Brown works well with mixed textures. Grays – Calm, sophisticated and serene. Some consider it a bit too serious, but gray symbolizes strength, and serves as an ideal backdrop for brighter accents. Greens–Relaxing, restorative and restful for the eyes. Green takes us back to nature and evokes tranquility. It is believed to relieve stress, making it a good choice for medical facilities, schools and offices. Oranges–Evokes excitement, adventure and enthusiasm. It stimulates the appetite and increases energy. Orange is considered welcoming for entryways. Purples–Regal, eccentric and mysterious. In its darkest values (eggplant) it is dramatic, sophisticated and creative. Lighter shades, such as pale lilac, are considered restful and uplifting. Reds–Packs a punch and increases adrenalin. Red is a good choice if you want to stir up excitement or increase blood pressure, appetite or passion. It’s good for dining, not so good for a dental operatory. Yellows–Cheery, uplifting and energizing. Physiologically, yellow stimulates the mind and increases the analytical processes. While an attention-getter for dark hallways, too much yellow can produce frustration.

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20 Office Design

DENTISTRY ON CENTREPOINTE Dentistry on Centrepointe is a study in thoughtful design. Located in Ottawa, Ontario, the new office is the fulfillment of Dr. Neena Sidhu and her husband (and Operations Manager), Shubho Biswas’ vision for a space that enhances productivity, reduces stress, and implies excellent care for patients. Armed with ideas gleaned at seminars,

MARCH 2017 | Oral Health Office | oralhealthgroup.com

and with a preliminary plan by Design Ergonomics in the U.S., they approached Toronto-based designer Jean Akerman to bring their project to fruition. Familiar with their “lean design” concepts, Jean worked in tandem with Desergo to fine-tune the layout and ensure OBC compliance. The maximization of space was extremely important. Using in-wall cabinetry by Ergonomic Products, ops are compact and efficient: instruments and supplies are easily reached, and specialty equipment, housed in centrally located mobile carts, is brought in as needed. The sterilization area includes a wall of clear Tip Out bins for rapid access, visibility, and management of stored supplies. In the waiting area, with refreshment

Office Design

counter and child-oriented gaming area, patients enjoy a relaxed experience, shielded from noise and conversation at the reception/re-appointing desk. A small hallway effectively separates both these areas from the treatment hall, further reducing sound and cross contamination. The colour palette is clean and refined, with occasional splashes of colour. Flowers painted on acrylic panels (a recurring theme), are colour-coded to the operatories, facilitating way finding. By consolidating functionality and patient comfort, the designer has created a work environment which, says Shubho, is â&#x20AC;&#x153;a work of art that we love working in, and our patients love visiting.â&#x20AC;?

Interior Planning & Design: Jean Akerman Design Inc., Design Ergonomics Dental Equipment/Consulting: Sinclair Dental, Ergonomic Products Contractor: Terlin Construction oralhealthgroup.com | Oral Health Office | MARCH 2017

22 Finance

ARE YOU SABOTAGING YOUR RETIREMENT?

umans are emotional beings. They have survived and thrived through the centuries by trusting their gut instincts, regardless of the prevailing logic. These deep-rooted behaviours have helped in many instances but have also become a burden in important situations. The field of behavioural finance was developed in the early 1970’s to try and explain why investors were continually making illogical choices. Through the pioneering work of Daniel Kahneman and Amos Tversky, we have a better understanding of what makes an investor tick. When it comes to investing for the long term, humans have developed mental biases that are irrational and, in many cases, detrimental. Let’s highlight four common mental biases that keep investors (dentists or otherwise) from reaching their retirement goals. Dr. Wilson Chen, BSc., DDS, CFP, FMA received his DDS from Western University in 1992 and over the past 23 years, has built a patientcentered, family practice in Hamilton. In 2014, he sold his practice to take a more active financial management and business advisory role for his dental clients and their families. Wilson is the only practicing dentist in Ontario to hold the Certified Financial Planner (CFP) and Financial Management Advisor (FMA) designations. Wilson can be reached at wilson.chen@ raymondjames.ca.

Recency Bias “Buy low, sell high”. It sounds so easy, doesn’t it. But it is so hard to do. In our minds, we tend to weigh the most recent events as the most important. Hence the saying – What have you done for me lately? When you apply recency bias through an investment lens, investors will always look to sectors that are performing well and believe that this trend will continue. For those who remember the dot com meltdown in 2000, it was a classic example of recency bias. Technology stocks (especially those that were internet related), moved higher and higher in the late 1990’s. Many of these companies did not have any earnings nor any great ideas. Investors became more anxious as each day passed, as they felt that this rally would keep running and they would be left behind. In many instances, investors sold out

MARCH 2017 | Oral Health Office | oralhealthgroup.com

of their diversified holdings and dove into tech stocks – in effect, selling low and buying high – or the complete opposite of what we all strive for. When the bubble burst in March of 2000, many found that they had jumped in near the peak and participated only in the fall. Even with history as a guide, many still can’t help dumping out of favour holdings to chase after recent winners. More often than not, it doesn’t end well.

SOLUTIONS • Realize that different assets and sectors will move up and down at different times. Having a well balanced portfolio will allow you to participate regardless of the investment climate. Yes, this means that a concentrated portfolio may do better at any given time, but over the long run, diversification enhances your returns and minimizes your risks. • The best way to maintain diversification is to have an investment policy statement which states your long term goals and outlines what to invest in and how much to invest in certain areas. It is a contract to yourself that keeps you on track. Your financial advisor can help you quantify your retirement goals develop an investment policy that will get you to your goal. • Ignore the business news which tends to hype up the latest events. By separating yourself from the media circus, it will be easier to stick to your predetermined financial objectives. Remember, the media’s goal is to maximize ratings and sensational predictions outsells disciplined investing.

Finance

Paralysis by Analysis Katie is a young dentist who is starting to invest for the future. She is an admitted perfectionist which is what makes her such a good clinician. At first, Katie was enthusiastic about researching the various investment choices and was astounded by the number of conflicting products and strategies. She doesn’t want to make a wrong decision. Katie now regrets starting this exercise and hasn’t looked at it for the past three months. Dentists, by nature, are perfectionists. They are wired to gather and analyze all available data to make a logical decision, and they expect a good outcome. Unfortunately, stock markets do not follow neat, predictable patterns and it is hard to come up with a definitive judgement. In the past, stock and bond investments have done very well over time, but in the short term, investments tend to fluctuate up and down. This uncertainty makes the dental investor nervous. What if there is a better choice out there? What if I make a mistake? When faced with uncertainty, the solution for many is to stand on the sidelines and do nothing - which could be the worst thing for your portfolio.

SOLUTIONS • Be clear about your time horizon. If you are 20 years from retirement and expect to enjoy 30 years of retirement, that is a 50 year time frame to consider. Don’t let day to day gyrations affect your decision making process.

• Work with an experienced advisor who has been through at least several market cycles and have a consistent investment philosophy, then ask them the tough questions. What did they do during the market lows and market highs? Did their process change with changing market conditions? What are their results over the past 10+ years? This will help you feel more comfortable about a achieving a favourable long term outcome. • Realize that time is your greatest ally when investing. The effect of compound growth is most pronounced when you start investing early. There is a lot of truth in the saying - “Time in the market is more important than timing the market.”(anonymous) • Easing into the markets is a good strategy to combat investment paralysis. Investing smaller amounts at predetermined regular intervals (ie: monthly or quarterly) will allow you to start the process without feeling like you are plunging into the unknown.

Loss Aversion Our ancestors survived by putting more value on minimizing losses than achieving gains. Certainly, if you lose something valuable, like a food source, it could mean the difference between life and death. Over time, this bias has been ingrained in our psyche. For most investors, the pain of a loss is significantly greater than the pleasure of a gain. Let’s put this another way. Jocelyn is a dentist with a good quality, well diversified investment portfolio. But hidden from view, she holds a handful of dreadful stocks that have lost virtually all of oralhealthgroup.com | Oral Health Office | MARCH 2017

24 Finance

their initial value. She watched these shares decline over the years but could never pull the trigger to sell them. Rather than cutting her losses and moving on, she was waiting (hoping) for them to pop back up to at least their initial price. This way, she would not have to cement the loss and admit that she made a mistake. Unfortunately, the losses incurred by the underperformers have seriously diminished the gains from the rest of her investments.

SOLUTIONS • Accept the fact that your portfolio will include investments that go up as well as investments that go down. It is not the individual holding, but your entire portfolio, that matters. To cope with this, make sure you are clear in your mind on what to do with holdings that are losing their value. • For an investment that is not performing well, I like to ask myself this question: “Would I buy this stock/bond today at the current price.” If the answer is no, then the wise thing is to sell the investment at a loss and deploy the funds to a more promising venture. • If you are working with an advisor, make sure they have a clear strategy to dispose of underperforming stocks or funds. A consistent “sell” process is as important as a disciplined “buy” process.

Mental Accounting

Dr. Wilson Chen is a Financial Advisor with Raymond James Ltd. The views of the author do not necessarily reflect those of Raymond James. This article is for information only. Raymond James Ltd. member of Canadian Investor Protection Fund.

Jay and Janice are diligent savers. Their goal is to pay off their mortgage as quickly as possible, so they set aside a portion of their income every month for this. In June, they found out that there was a mistake in calculating their income tax. Instead of owing taxes, they received a $10,000 income tax refund. Their goal of paying down the mortgage remains the same, but they used the refund to buy a hot tub and a big screen TV. This is a prime example of mental accounting where people separate their

MARCH 2017 | Oral Health Office | oralhealthgroup.com

money into different compartments. Since the income tax refund was unexpected and did not fall in the regular income category – it was easy for Jay and Janice to mentally spend the windfall. In the same vein, people will carry credit card debt with a 20% interest rate while saving money in a GIC for 1.5%. Two different compartments with no communication between the two.

SOLUTIONS • Work with your financial planner to develop a comprehensive financial plan. It is a holistic approach that looks at your finances as a whole, not as separate parts. This will highlight steps to optimize your overall financial health as opposed to each individual component. • It will be tough, but consolidating your investment accounts will help you overcome the effects of mental accounting. Side accounts or play money accounts should be eliminated or greatly reduced. Focus on the big picture goals and choose a strategy to invest that will meet these objectives. • Picking the next big stock is something that keeps many investors energized and entertained. In some cases, active traders have done relatively well. However, keep in mind that even professional portfolio managers have a hard time consistently selecting winners. We think that the better approach is to stick to your plan: Establish your goals. Set aside the funds and the processes to meet your goals. Then additional investments can be viewed as supplements to your income but not the source of your retirement. For many of us, there is a constant fight in our heads between our emotional biases and our long term financial goals. By identifying the common biases, we are one step closer to resolving the turmoil and creating a clearer path to a consistent investment process. Hopefully, it will make us all better, and happier, investors.

Marketing

Continued from page 17

(Note: some patients need more treatment than others) • What is the lifetime value of that new patient? Tracking and analyzing the data helps you focus on the most effective marketing tactics so you can plan ahead and invest wisely!

SECRET #10: You Are Competing With…Dentists This isn’t a secret at all. But it’s still worth mentioning. When it comes to marketing, as a group, dentists aren’t a very fierce force to compete against. Remember: I’m a lawyer who successfully competes against many MORE lawyers than there are dentists in Ontario! Dental schools don’t really prepare dental students for the real world of owning a practice and getting new patients. Instead, they tend to focus on practice management, having your team on contract and not getting sued. Old school mentalities – like dentistry is a profession, not a business OR doing good dentistry is your best marketing – still permeate. There hasn’t been much in terms of teaching proper marketing for the new millennium. So when someone finally graduates and start practicing, they’re unprepared. And the last thing they’re going to do is read a book, or take a course, on marketing. They may sit on their laurels and wait for patients to come in. They may copy others and achieve no real results. They may eventually hold up their hands and blame external factors – like a bad economy, too many dentists setting up nearby, a changing community, or patients moving away. Eventually when they get desperate, they’ll hire a dental marketer. But this is all good news for the marketing savvy dentist. Because by understanding the secrets outlined in this article and executing them flawlessly, that dentist WILL succeed with relative ease in attracting and keeping new patients. And they’ll do so faster and more cost-effectively than their peers.

CONCLUSION The next time a so-called dental marketer promises you an influx of new patients but doesn’t use the right language – like focusing on existing patients, niching, branding, six touches, brand alignment, etc. – do yourself a favour and hang up or walk away. Now that you know their top 10 secrets, you can save yourself a lot of time, money and headache. Trust your gut. Be in control. Good luck! oralhealthgroup.com | Oral Health Office | MARCH 2017

Print is Not Dead... In Fact

BORN: Germany, 1439 DIED: Circa 2000 ... or Did It?

It’s Growing

Consider The Following... • 2015 reversed a decade of decline, with a projected 0.2% YOY growth. (FIPP Trends Report)

‘‘

Print is not hanging on by its ﬁngernails, IT’S GROWING. FIPP World Magazine Trends 2014-2015 Report

• Printed UK magazine advertising delivered the highest ROI of all media channels, 11% higher than TV and 22% higher than online. (PPA Magonomics)

• In the US alone, 234 new titles made their debut, up 21% from 2013. (Guide to New Magazines, USA) • FOLIO Magazine’s annual survey of US city and regional magazines said 2015 featured more new launches than any year since 2009.

Publications Serving Niche Markets (like B2B) Provide Unique Content Readers Cannot Get Anywhere Else.* * Skip Zimbalist, chairman and CEO of Active Interest Media (AIM), which publishes titles like Backpacker, Black Belt, Arts & Crafts Homes, Better Nutrition, Ski Magazine, Vegetarian Times, Power & Motor Yacht, and Yoga Journal, told FOLIO’s recent Growth Summit that AIM is investing in circulation marketing including direct mail. “We have not found declining yields in mail over the last 10-15 years,” he said.

In Case You Weren’t Convinced Before, You Can Conﬁdently Say:

is Far From Dead. It’s Alive!

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Our west end Toronto office is looking for a friendly part time associate experienced in endo procedures. If interested send resume to oksania@bellnet.ca

New State of the art Orthodontic center opening in Northern Ontario. This is a great opportunity for a dynamic, motivated Orthodontist with excellent communications skills. Hours: Full time. Competitive compensation. Please email CV to info@dentalservicecorp.com

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TORONTO, ON ATTENTION SPECIALISTS! Newly renovated dental office space for rent on the Danforth surrounded by many general dentists. Unit is on the second floor with 3 fully equipped ops, a lab and private reception area approx 900 sq feet. Please e-mail: bogda02@yahoo.com

EXCELLENT PERIO PRACTICE FOR SALE VANCOUVER ISLAND (URBAN) Rare opportunity to purchase a longestablished periodontal practice located in a highly desirable area on Vancouver Island. The practice has an extensive referral base and strong net cash flow. Great opportunity for new specialist to thrive. The vendor will stay to facilitate transition. Purtzki Transitions; Manfred Purtzki 604-669-7558, Manfred@purtzki.com

E-mail: info@kingsleydental.ca

HANOVER, ON We are looking for an associate dentist who can perform all treatments for our well established family dental practice. The patients are friendly, the support staff are well trained and the production is high. E-mail: recruitment@teethfirstdental.com

SOUTHWESTERN ONTARIO HURON COUNTY We are looking for a part-time, experienced general dentist two days a week for a busy, established family practice (35+ years). Possible buy-in for the right person. Please forward a cover letter and C.V. to scepuka55@gmail.com

BRANDON, MB

GRANDE PRAIRIE, AB Prairie Mall Dental Clinic is seeking a full-time Associate Dentist to take over an existing patient base at our busy practice. The right Associate must be comfortable to perform dental procedures on both adults and children. Preference will be given to associates with the capability to produce in a busy, fast-paced environment. New grads and experienced Dentists are encouraged to apply! Interested applicants please send resume to smile.dentalcareers@gmail.com

Full Time Associate Position Busy Modern practice in Brandon looking for a full-time associate. A positive and progressive attitude are a must! Our practice is focused on not only providing exceptional care but a great patient experience as well. If this sounds like a fit for you please contact us at info@dentalgrowthstrategies.com or call (204) 813-7775.

MILTON, ON Looking for an office where you can use all of your skills in a caring and upbeat environment? Fast paced office looking for a full time associate. Email resumes to: flowerdental@outlook.com

oralhealthgroup.com | Oral Health Office | MARCH 2017

28 Dental Marketplace ASSO CIATESHIP S

CALGARY AND EDMONTON, AB Seeking Orthodontist for multiple locations in Calgary and Edmonton area. Great office location. Experienced staff and office managers to keep you busy. Please send your resume to smiledoctors1@hotmail.com

GRANDE PRAIRIE, ALBERTA A Full time Associate needed for Grande Prairie Family Dental Centre starting middle of April 2017. Also need a Full time Associate for Roy & Kali Family Dental Centre starting July 2017. Both offices are busy and offer all aspects of dentistry. If you are trustworthy, friendly and committed to excellence please contact Dr. Roy at 780-539-6883 or drroy04@telus.net

OSHAWA, ON Dr. Rubinâ&#x20AC;&#x2122;s Oshawa Centre Office is looking for an associate Mondays 9-4 and 12:30-6 (rotating) Wednesdays 9-4. We are possibly also looking for Tuesdays 1-9 every other Friday and Saturday 9-5. We are looking for a motivated experienced dentist with minimum 2 years experience. The Mondays and Wednesdays are requiring one dentist and the Tuesday, Fridays, Saturdays are another dentist. We require a team player who works well with others and is motivated.

Applicants please email CV to: ocdental@rogers.com

BRAMPTON, ON Associate who can do wisdom teeth extraction,surgical extraction and molar root canal needed in Brampton once in a week. Please email resume to nk490@nyu.edu

NORTH YORK, ON PART TIME ASSOCIATE We are looking for a P/T Associate for Sundays, Wednesdays and possible room for growth. Large, modern and stunning office. Email: nitinpanchalhwr@gmail.com

ORILLIA, ON

BRADFORD AND BARRIE, ON Associate Opportunity in Bradford and Barrie. Applicant must have a minimum of 3 years experience, a team player, can build a rapport with patients quickly, and is Amazing with Children. Bradford is in need for Tuesdays, Wednesdays, and every Saturday. Barrie is in need for Wednesdays, Thursdays, Fridays, Saturdays Please email your resume and preference of location to: mightymolars@live.ca & bbashi@yahoo.com

EAST GTA, ON Busy group dental practice seeking orthodontist and periodontist 1 day/week. Please contact: eastgtadentist@gmail.com

NEWMARKET, ON We are seeking an associate for Monday and Wednesdays, Monday 10-6 and Wednesdays 2-8. We are a busy practice in the Heart of Newmarket located on Davis Drive. Please email resume attention of Dr. Croppo â&#x20AC;&#x201C; drcroppooffice@rogers.com

Part time associate required Saturdays for busy general family practice. Please forward resume to dental_2010@live.ca

THOMPSON, MB Looking for an energetic dentist with experience to join our team full time at Westwood dental clinic. Very good income can be made. Office with all modern equipment making it feasible to practice all aspects of dentistry. Specialist welcome. To apply email: westwooddental @hotmail.com

NEW GLASGOW, NS We are seeking a full-time Associate Dentist to join our team at Highland Dental Centre. The ideal candidate will value building strong patient relationships and providing excellent care to our community. We encourage both new grads and experienced dentists to apply. Potential for partnership opportunity for the right dentist. Interested applicants please send resume to smile.dentalcareers@gmail.com

MARCH 2017 | Oral Health Office | oralhealthgroup.com

TORONTO, ON Established downtown practice looking for a motivated, energetic female part-time associate with stellar communication skills. Extractions and molar endos a must, Minimum 2 years Canadian experience. Send resumes to associate.search5@gmail.com

VAUGHAN, ON Part-Time Associate required in Vaughan immediately. Alternate Saturdays are a must. Principal DDS is willing to teach endo, surgery if candidate willing. Email to dafind01@gmail.com

PETERBOROUGH, ON Full time associate dentist wanted for a well established office in Peterborough. 4 days per week, no evenings or weekends. Surgical extractions, molar endo, pedodontics would be an asset. Send us your resume to info@louisdiamandakos.ca

KINGSTON, ON Come to Kingston; big city conveniences in a small cosmopolitan city. Full Time Associate needed (4 days per week). Position starting March 2017. We are a well established general practice priding ourselves in our family like atmosphere. We are seeking an experienced Associate who is comfortable with all aspects of Dentistry. Excellent communication skills are essential to build a rapport with our patients. E-mail: recruitment@teethfirstdental.com

VAUGHAN AND SCARBOROUGH, ON Busy and established offices in Vaughan and Scarborough seeking associate(s). Only do procedures that you are comfortable with. Enjoyable, friendly family practices. Please send your resume to MKDentalCare@gmail.com

BRAMPTON, ON Associate needed for busy Brampton clinic. Please call 647-293-0245 or email resume to drharpaulsingh@gmail.com. Email is preferred.

WELLAND AND HAMILTON, ON We are looking for a Periodontist to work in our Welland practice once a month. We are looking for an Orthodontist to work in our Hamilton office once a month. Both offices are well established family dental practices with long time support staff. E-mail: recruitment@teethfirstdental.com

Dental Marketplace ASSO CIATESHIP S

OTTAWA, ON ORTHODONTIST NEEDED Our busy group practice in Ottawa has an outstanding opportunity for New Grads or any Orthodontist who would like to enjoy freedom of practising Ortho without managing office or worrying about getting new patients. Our practice has been providing Orthodontic services to our patients for the past 22 years. Please send resumes to Associates2020@gmail.com

WEST TORONTO, ON

BARRIE, ON

Oral Surgeon with IV sedation needed. 1-2 times a month. Established GP office at west end of Toronto. E-mail: kingwestdentist@rogers.com

GP WHO DOES ENDO NEEDED IN BARRIE.

TORONTO, ON Full time dental associate needed immediately for busy group practice in downtown Toronto. Seeking dentist who is comfortable with a fast paced environment. Excellent earning potential. Please forward your resume to: dentistrywithcare15@gmail.com

WILLIAMS LAKE, BC

STOUFFVILLE, ON

Seeking a clinically proficient Dentist (4-5 days/week) to take over an existing patient base at our busy and fast paced practice in Williams Lake. Minimum 3 years of experience required. Only 1 hour flight from Vancouver to the beautiful Cariboo country with amazing outdoor lifestyle. Send resume to cariboojob@gmail.com

DR. BOB BOADWAY requires an experienced Part time Dental Associate to join his practice at the PARK DRIVE DENTAL CENTRE INC. in Stouffville ,Ontario. www.parkdrivedental.com Please email resume to drbobboadway@gmail.com

DENTAL ASSOCIATE SASKATOON, SK Campus Dentist University of Saskatchewan in Saskatoon is currently looking for an energetic, friendly, outgoing, enthusiastic individual for a very unique opportunity in a modern university setting. Please email us: marzena@campusdentist.com

TORONTO, ON Specialists Needed – Periodontist required 2 times per month and Orthodontist 1 time per month. Toronto practice on Subway line. Daily $ min guarantee . Andyc@coradixgta.com

ONTARIO, CANADA Certified orthodontists licensed to practice in Ontario, Canada only please. Be willing to train in new treatment modality- Airway Centered Orthodontics. Work according to Airway Centered philosophy of Airway Centered Orthodontics. Train/certify in Airway Centered Orthodontics. Must be willing to travel to various locations. New graduates welcome, or semi retired orthodontists. Part time to start. E-mail: quantumorthodontics@gmail.com

ARNPRIOR, ON We are seeking a compassionate dentist with good communication skills to join our exceptional practice. Great opportunity to join a rapidly growing dental office, just 20 minutes from Kanata. We have a great team to support your growth. Endodontic experience an asset. E-mail: neeraj_perio@yahoo.ca

GUELPH, ON Associate Opportunity. We are looking for an outgoing, enthusiastic dentist to join our team. The office is bright, modern with paperless charting and digital x-ray. The ideal candidate will be someone motivated with strong communication skills. Please email your CV to: resume@campusdentist.com

FULL TIME ASSOCIATE IN EAST GTA Restorative Focused Offices Looking for Long Term Associate(s). 99 Percent of Patients have Private Insurance or Fee For Service Patients. High End Facilities and Strong Team Supports Mentorship and Potential Buy-In Opportunity. Please email CV to GTAEastDentist@outlook.com

TRENTON, ON Associate required for office in Trenton – 2 to 3 days per week. Family practice, friendly atmosphere and lots of potential for growth. E-mail: associaterequired2016@gmail.com Fax: 416-261-8190

Looking for a GP who has a lot of experience doing endo and retreatments for an office in Barrie once or twice a month. If interested please email resume to bbashi@yahoo.com

MAPLE AND BRAMPTON, ON

Paediatric Dental Office seeking Part-time/Full-time Paediatric Dentist Paediatric Dentist needed to join our paediatric/ multi-specialty practice. Successful candidate should be a licensed Paediatric Dentist and have experience with special needs, nitrous, oralsedation and in-office general anaesthesia. Our experienced qualified team will assist you with a fully booked schedule. P/T and F/T hours available. Competitive salary structure and benefits to be discussed with potential candidates. Confidentiality assured. Contact: apply@dentalworks4kids.com

BRAMPTON, ON Modern paperless family practice located in Brampton looking for an associate part time. We have a wonderful positive team! We are seeking a Dentist with great work ethic, selfinitiator & have proficient knowledge in all aspects of general dentistry. Willing to work Wednesday, Thursday and Saturdays. Please email resume to bramptondentaljobs1@gmail.com www.braydondentalcare.com

KITCHENER, ON Associate Dentist Wanted for Kitchener, Ontario area. The position is in an established office and will require one to two Saturdays per month in addition to two to three days during the week. Applicants please send resumes to kwdentist66@gmail.com

KELOWNA, BC Associate Position – Full Time Ideal for a dentist – 1 – 3 years experience. Looking for enthusiastic individual to keep building existing patient base. Prime location, high exposure, great new patient flow. This is a long term position with great opportunity to buy-in. Email: smileatsteve@shaw.ca or text 250 – 862 -4668.

oralhealthgroup.com | Oral Health Office | MARCH 2017

30 Dental Marketplace ASSO CIATESHIP S

GUELPH, ON AREA

ORTHODONTIST REQUIRED Established, multi-specialty neighborhood practice with a growing patient foundation is looking to add a highly skilled orthodontist to join our clinical team on a part time basis! We offer patients the highest quality of care for total dental health and developed a dental practice that caters to individual needs. If you are caring, compassionate and have a true desire to help others, becoming a member of our team may be the perfect opportunity for you. Please email resumes to: rwdentist05@gmail.com

LLOYDMINSTER, AB ASSOCIATE DENTIST REQUIRED FOR LLOYDMINSTER FAMILY PRACTICE Excellent opportunity in an established, family practice for a full-time associate starting immediately. Successful candidate will take over an existing full patient load. Special need for oral surgery and endodontics. Flexible hours available. Seven chair office with 3 excellent hygienists and friendly, long term staff. This is a digital and paperless practice. Partnership opportunity. Confidentiality ensured. Dr. Marianne Stelmaschuk Ph: 780-871-2181 (cell) Personal email: zoob2@shaw.ca Office ph: 780-875-4312 email: toothsuitebusiness@shaw.ca Direct flights between Calgary and Lloydminster are available through Central Mountain Air.

SALMON ARM, BC

ST – LAZARE, QC

Associate required for a successful practice in beautiful Salmon Arm, B.C. Salmon Arm services a community of 18000+, located between Kamloops and Kelowna. Salmon Arm offers a great 4 season life style with skiing, golfing, hiking and a fantastic lake for all your water activities. Our office has 5 ops and we are a completely computerized and digital and laser equipped office. We offer all aspects of family and general dentistry, supported by a highly skilled team. Check us out at Alexanderdental.ca Please forward enquires to: office@alexanderdental.ca

Belle clinique dentaire située a St-Lazare (Québec), avec un environnement de travail exceptionnel, est à la recherche d’un dentiste à temps partiel, qui se doit d’être compatissant et de maintenir la qualité de soins la plus élevée pour tous nos patients. Courriel: diana@angeliquedentaire.ca

WILLIAMS LAKE, B.C.

IN AND AROUND TORONTO, ON

We are looking for a kind, caring, gentle practitioner to be the principal dentist in our paediatric practice while I focus on our hospital O.R. program. The Kids Only clinic is unique in being run by general dentists since 1998. It is a very busy established clinic working 7 1/2 hrs. daily, Tuesday to Friday. We service a huge area and the clinic is very profitable. We have an excellent long time staff of 10 which allows you to focus exclusively on dentistry and children! A buy in opportunity is available to the right dentist. Williams Lake is a wonderful example of super natural B.C., and housing is very affordable! This is a fun, high energy clinic with a great family atmosphere!

If you enjoy children’s dentistry the position opens June 2017. Please e-mail Dr. Gerry Dyck at gddyck@telus.net MARCH 2017 | Oral Health Office | oralhealthgroup.com

Beautiful dental clinic located in St-Lazare (Quebec), with an exceptional work environment, is looking for a part-time dentist who must be compassionate and maintain the highest quality of care for all our patients. Email: diana@angeliquedentaire.ca

WANTED: Well-rounded Paediatric Dentist for established and growing paediatric dental clinics, in and around Toronto, Canada. Offering exceptional first year earnings, additional signing bonus and moving expenses may be available. If you are a recent graduate or established doctor we want to hear from you! If you are looking for a modern clinic with an extraordinary culture that values patient care, and having FUN at work, then please forward on your resume and cover letter to info.dentistry4kids@gmail.com.

EAST OF TORONTO, ON GREAT OPPORTUNITY TO JOIN OUR TEAM OF DEDICATED PROFESSIONALS. We are currently looking to complement our team with an associate part time. We are a very busy, established practice located 45 min east of Toronto in a high traffic mall. Please reply with your available days. We look forward to hearing from you. thatrightsmile@gmail.com

www.oralhealthgroup.com

Brokerage

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