Oral Health Office March 2015 by Annex Business Media

oralhealth

THE RETIRING DENTIST

OFFICE w w w. o r a l h e a l t h g r o u p. c o m

MARCH 2015

GREAT ADVICE

FOR ALREADY SUCCESSFUL PRACTICES

Despite the DIGITAL AGE

WORD-OF-MOUTH IS STILL KING

for growing your patient base

SAVING TAXES AND PLANNING CAREFULLY

OHO Mar15 Cover FINAL.indd 1

15-03-03 2:35 PM

CASE STUDY 10

Winning practices are implementing this program. ISSUE

s mmon problem s create three co ue iss s n it’ io (“ at ic sit vi un e hygiene Patient comm eived value in th rc pe e of nc ra ck su 1 la iance 3 in for a practice: e patient compl om -h at or po 2 just a cleaning”) atment. dictation of tre

SOLUTION

derstand tients better un ® program helps pa The l-B ra O lf-care at home. The Crest + and prioritize se sit vi e ion en at gi ic hy commun the value of a onalizes patient rs pe d an es gs iz cy amon t system standard y and consisten nc ie fic ef H RD izes and also maxim providers. e en gi hy multiple ®

RESULTS

increase case Oral-B program + t es ns Cr e th g sing cancellatio Practices usin ion, while decrea nt te re nt es tie nu pa ve tice re acceptance and nce is that prac rall, my experie ve O s. w ho -s no and . average of 43% can increase an

Lisa Philp Transitions Group North America RDH, CMC Lisa Philp has not been compensated to appear in this ad.

Find out how our programs are paying off for other practices at

www.HealthyPracticeNow.ca

OHO Mar15 p02 Crest P&G AD.indd 2

We mean business.

15-03-09 8:29 AM

oralhealth

OFFICE w w w. o r a l h e a l t h g r o u p. c o m

Features

BUSINESS MANAGEMENT

8 Despite the Digital Age, Word-Of-Mouth is

Still King for Your Growing Your Patient Base Chris Cooper

16 The Emerging Work World in the Participation Age Chuck Blakeman

30 Optimize Your Dental LinkedIn Profile for Higher Online Visibility Naren Arulrajah, Vikas Vij

46 The $6 Million Dentist: How Am I Doing Compared To My Colleagues? Mark McNulty

52 Great Advice for Already Successful Practices Laurie Slater FINANCE

24 Saving Taxes and Planning Carefully:

One Deduction & Planning Manoeuver at a Time

David Chong-Yen, CPA, CA, CFP; Louise Wong, CPA, CA, TEP; Eugene Chu, CPA, CA, MAcc RETIREMENT PLANNING

10 The Retiring Dentist

Wilson Chen, BSc, DDS, CFP, FMA

TECHNOLOGY

36 Lasers & Teslas & Dentists, OH MY!

Michael Carabash, BS, LLB, MBA, CDPM

Departments

24 Cover image: ©Natalia Lukiyanova/Hemera/Thinkstock

OHO Mar15 p03 TOC.indd 3

News Briefs: S erona’s CEREC® 30th Anniversary Celebration Social Media & “Dental Cleaning”

Editorial: Til We Meet Again

Dental Marketplace

oralhealthgroup.com | Oral Health Office | MARCH 2015

15-03-10 11:16 AM

4 News

Grammy Award-winning band “Train” set to rock Sirona’s CEREC® 30th (C30) Anniversary Celebration

NEWCOM BUSINESS MEDIA INC.

Editorial Director: Catherine Wilson 416-510-6785 cwilson@oralhealthgroup.com Assistant Editor: Jillian Cecchini 416-442-5600, ext. 3207 jcecchini@oralhealthgroup.com Art Direction: Andrea M. Smith Production Manager: Phyllis Wright Circulation: Barbara Adelt 416-442-5600, ext. 3546 badelt@annexnewcom.ca Advertising Services: Karen Samuels 416-510-5190 ksamuels@annexnewcom.ca

Sirona Dental Systems, Inc., the company that pioneered digital dentistry, recently signed the Grammy award-winning rock and roll band Train to perform during its upcoming CEREC® 30th (C30) Anniversary Celebration. Attendees of the three-day CAD/CAM extravaganza held at The Venetian® Hotel and The Palazzo® Hotel in Las Vegas from September 17-19th, 2015, will be able to experience the super rock band live as it performs its biggest hits and more. In addition to Train, Sirona has enlisted an impressive lineup of celebrity talent to perform. World-renowned motivational speaker Tony Robbins will headline an outstanding lineup of dynamic business speakers recruited by Sirona including Fred Joyal, well-known speaker on dental practice marketing, and Bernie Stoltz, CEO of Fortune Management. All speakers within this curriculum will present on topics that combine world-class clinical business education and leadership skills that can be applied directly in the dental practice. In addition to an impressive lineup of musical talent and motivational speakers, the CEREC 30th Anniversary Celebration will also provide outstanding clinical education and attendees can earn up to 18 CE credits across a comprehensive spectrum of digital dentistry topics and tracks. CEREC 30 will additionally feature an exhibit hall showcasing top dental companies and their products and services.

What is social media saying about “dental cleaning”?

Social media is a good way of feeling the pulse of the community. Facebook can tell, for example, how many women over 40 in Canada read Prevention Magazine or Women’s Health Magazine, and who also mention ‘dentist’ or ‘hygienist’ in their social media conversations. That number is about 1.7 million! There is a new service called Treato, which monitors social media views on healthcare — it calls itself the voice of the patient. Treato monitors over 313 million people; 2 billion posts online and almost 15,000 medical conditions. After entering the phrase ‘dental cleaning’ into Treato’s search engine, here are the dominant descriptors associated with dental cleaning: > 2.7 million posts used the term “infection” > 2.4 million posts used the term “bleeding” > 1.1 million posts used the term “stiffness” > 0.3 million posts used “tooth paste” Treato did not report key words such as “oral health” and “overall health” as being significantly associated with dental cleaning. Rather, negative imagery was most reported on social media. To learn more about the focus on Partners in Prevention outreach program, visit www. Partnersinprevention.ca.

Classified Advertising: Karen Shaw 416-510-6770 kshaw@oralhealthgroup.com Dental Group Assistant: Kahaliah Richards 416-510-6777 krichards@oralhealthgroup.com Senior Sales Manager: Tony Burgaretta 416-510-6852 tburgaretta@oralhealthgroup.com Associate Publisher: Hasina Ahmed 416-510-6765 hahmed@oralhealthgroup.com Senior Publisher: Melissa Summerfield 416-510-6781 msummerfield@oralhealthgroup.com Vice-President: Joe Glionna President: Jim 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: 1-800668-2374; Fax: 416-442-2191; E-mail: privacyofficer@ businessinformationgroup.ca; Mail to: Privacy Officer, 80 Valleybrook Drive, Toronto, ON M3B 2S9. Canada Post product agreement No. 40069240. Oral Health Office is published twice in 2015 by Newcom Business Media Inc., a leading Canadian information company in business-to-business information services. ISSN 2291-1448 (PRINT) ISSN 2291-1456 (ONLINE)

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p04 News MH.indd 4

15-03-09 8:33 AM

Editorial

C atherine Wilson, E ditor

’Til We Meet Again

e are in the middle of silly season, otherwise known as trade show t i me. Ever y profe ssion, ever y industr y, has a silly season. From local to regional, provincial to national and international, shows and conferences are a necessary evil, sucking time from practice and family while delivering invaluable ‘continuing education (CE)’ points and hands-on experience with the latest tools, materials and techniques of your chosen craft. According to The Meeting Professional, in just five months, pharmaceutical and medical device companies spent US$547 million on travel, food, lodging and speaking and consulting fees for healthcare providers in the US.1 That disclosure is the first time such numbers have been released and indicates the incredible economic impact of the healthcare sector of the meeting and event industry. Some or all of us attend some or all of the shows available to us: PDC, ODA, JDQ, AACD, ADA, ADHA, IDS…. Was your last meeting worth it? Did you define your expectations, your objectives? Did you document your expected outcomes? Did you get what you went for? Did you wander aimlessly? Did you take notes and listen intently? Could you share your experience, the lessons, the tips with colleagues? Did you come back with more shopping bags and restaurant recommendations than notes? The future of business, your future

success, lies in connections: certainly in connections to technology but more importantly, to others’. Aim for a good mix of online learning and face-to-face; join a new group and actually attend the meetings; figure out what you need to learn and find a mentor. Take a class; offer yourself up as a mentor…you’re really good at something, right? If you’re invited to go to something…go! When you do go to a function, drop the ‘what can I get outta this’ attitude. Experts say to go to functions alone. This forces you to meet (speak to) people instead of just talking to friends and colleagues the whole time. In that vein, sit beside a stranger. The old style of networking dictated that you sell your skills and showcase your knowledge. Resist the urge! Instead, when you’re talking to someone new, get that person to talk about him/herself, find out what they’re passionate about then sit back and listen! Remember, what you put into silly season dictates exactly what you’ll get out of it…now, I’ll go pack my little bag and head back to Salzburg, er, I mean, Cologne, for the IDS show! Auf Wiedersehen, darling... reference

1. C enters for Medicare & Medicaid Services (CMS). National Dental Hygienists’ Week, April 5-11, 2015. www.cdha.ca There are 26,800 dental hygienists in Canada

oralhealthgroup.com | Oral Health Office | MARCH 2015

OHO Mar15 p05 Editorial.indd 5

15-03-09 8:36 AM

ADVERTORIAL

AQUASIL ULTRA CORDLESS TISSUE MANAGING IMPRESSION SYSTEM Introducing an easier technique for achieving outstanding crown and bridge impressions By: Jason H. Goodchild, DMD Dr. Jason H. Goodchild is a general dentist practicing in Havertown, PA. He is a Clinical Associate Professor at the University Of Pennsylvania School Of Dental Medicine in the Department of Oral Medicine (Philadelphia, PA), and a Research Dentist in the Department of Clinical Research and Education at DENTSPLY Caulk (Milford, DE).

A recent study found that 89% of impressions made had one or more observable errors; the most common error was voids or tears at the finish.1 Despite advancements in almost every facet of impression-making, dentists are still faced with three major challenges when attempting to record conventional crown and bridge impressions: correctly managing the soft tissue, placing material precisely around the properly prepared tooth, and dispensing both injection and tray materials into the mouth within allowable working times.

An important feature of the Aquasil Ultra Cordless impression material is the elimination of errors due to working time/ setting time violations. Errors that may occur from exceeding the working time and/or setting time of an impression material include: incomplete or inaccurate marginal reproduction, tearing, pulls/drags, lack of coadaptation, and others. The digit power™ cartridges are designed so that the entire impression cartridge can be expressed within the material’s intraoral working time and practitioners will still have enough time to seat the tray properly. The intraoral working time of the singleunit cartridge is 35 seconds while the intraoral working time for the multi-unit cartridge is 1:00 minute; the working time of the tray material is approximately 1:15 seconds. Mouth removal times for the single- and multi-unit cartridges are 3:00 minutes and 4:30 minutes from the start of mixing, respectively.

A NEW DELIVERY METHOD DENTSPLY Caulk has developed Aquasil Ultra Cordless Tissue Managing Impression Material and digit power™ Dispenser as a means for dentists to precisely place material for improved crown and bridge impressions while minimizing the need for retraction cord or retraction paste. The digit power™ Dispenser is a pneumatic impression device that is compatible with most dental units. (Figure 1) It connects to an air line at the dental chair via commonly available connectors and utilizes digit power™ unit-dose cartridges. Instead of loading a backfill syringe or squeezing the 50mL impression gun, dentists are now able to simply step on the rheostat to express material while holding the impression device in a pen-grip. The small diameter intraoral tip on the impression cartridge allows clinicians to passively place the wash material around the prepared tooth or dental implant. (Figure 2) Different sized impression cartridges are available for either single- or multiple-unit cases. Aquasil Ultra Cordless material is designed for use with a single-step dual-viscosity impression technique. Both the tray material and the wash material for this system have been formulated to provide several advantages compared to Aquasil Ultra. First, because the wash material is intended to be placed around the prepared tooth potentially without the use of cord or retraction paste, it is designed for flow into sulcus widths of less than 0.2mm without distortion or tearing. Compared to Aquasil Ultra the tear strength of Aquasil Ultra Cordless impression material has been improved to prevent rips or tears at the impression margin. Additionally, to meet the needs of dentists adopting newer technologies the materials have been optimized for digital scanners. Figures 2 shows the digit power™ Dispenser being used to capture a final impression for tooth No. 19. REFERENCES 1. Samet N, Shohat M, Livny A, et al. A clinical evaluation of fixed partial denture impressions. J Prosthet Dent 2005;94:112-7.

Figure 1: Aquasil Ultra Cordless© digit power™ Dispenser. The Impression Dispenser, with installed intraoral tip, is shown in the blue plastic adapter. On the right is the regulator attached to the dental air line. Note at the top of the regulator is a silver knob with settings for flow rate of impression material. A flow rate of 1 is the slowest, and flow rate of 4 is the fastest. When the regulator sits in the tool holder as shown, the Dispenser is deactivated.

Imag Aqua into

Try it Figure 2: digit power™ Dispenser and Aquasil Ultra Cordless Tissue Managing Impression single-unit wash material being used to capture a final impression for tooth No. 19. Buccal retracted view.

TO REQUEST A FREE IN-OFFICE TRIAL,

visit www.aquasilultracordless.ca or call 1.877.393.3687

DENTSPLY Canada Ltd. | www.dentsply.ca

OHO Mar15 p06-7 Dentsply ADVERT.indd 6

15-03-09 8:37 AM

SS M

ons

Less Proced re. More Control. Precision placement from an ultra-fine intrasulcular tip.

Experience accurate, detailed impressions.

Imagine a faster, simpler, less traumatic way to achieve accurately defined impressions. Aquasil Ultra Cordless minimizes the need for cord and paste by delivering wash material directly into the sulcus. Less stress for you, less stress for your patients, and detailed impressions for the lab. Try it today! For an in-office trial, visit: www.AquasilUltraCordless.ca

SCAN THE

QR CODE TO

TRY IT!

www.dentsply.ca | 1.877.393.3687

OHO Mar15 p06-7 Dentsply ADVERT.indd 7

15-03-09 8:40 AM

8 Business Management

DESPITE THE DIGITAL AGE,

WORD-OF-MOUTH IS STILL KING

uilding and maintaining the customer base of a dental practice is not the same challenge it was 10 years ago, or even five years ago for that matter. As digital content grows and it becomes easier and more affordable to access, practice owners are competing with more voices to be heard by potential patients. More voices means more noise, which can also mean more clutter for your audience to maneuver through in order to see your message. And, if you don’t have a plan in place, you’ll easily be drowned out. That is why it is so important to be aware of the channels of communication — both formal and informal — in which external audiences, particularly existing and potential patients, are learning about your business. Formal channels are those that you directly control the messaging for, such as your website, advertisements, newsletters, brochures and company social media accounts. Informal channels are those you do not have direct control over, including news stories, industry blogs, testimonials and word-of-mouth. There must be a consistent message running through both to gain the trust and business of patients. For small practices, especially for those first starting out, resources are limited. While time and money should be dedicated to maximizing formal communica-

tion opportunities to spread your message, the greatest return on investment will be realized when the same story is being told through informal channels. How does this happen?

Word-of-mouth

The power of word-of-mouth has never been greater than it is at present. One bad tweet, unfavorable (or even inaccurate) review, poor rating or nasty Facebook rant can invite a deluge of similar conversations to begin on social media and other platforms, bringing the brand promise of a practice to its knees. On the contrary, owners can look to harness the power of word-of-mouth by focusing on referrals. After all, consumers only refer businesses they like. In fact, 92 percent of consumers report that a wordof-mouth recommendation is the top reason they purchase a product or service. It may sound elementary, but good customer service is the key to strengthening your best-kept secret marketing tool: your happy patient base. Go above and beyond to deliver on your brand promise, and your satisfied patient champions will have you top of mind when they are in a situation to recommend your practice to someone else. Rewarding engaged patients is another way to encourage word-of-mouth referrals. Research shows that referrals increase 2.5 times when a rewarding “thank you” is provided to the referring customer. Many practices accomplish this through loyalty programs. This can look however you

©abluecup/iStockphotos/Thinkstock

FOR GROWING YOUR PATIENT BASE

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p08-9 Cooper.indd 8

15-03-10 9:29 AM

Business Management

want it to, but the bottom line is that it should provide a real benefit to the patient for referring your business to others. It has been shown that consumers are twice as likely to be repeat customers if businesses help them enroll in loyalty programs. In addition to the program being beneficial to the patient, it should also be easy. A hefty enrollment process with multiple steps and tons of questions just isn’t feasible for today’s busy consumers. Additionally, providing your patients with tools to help them refer the business is also going to boost engagement. It’s all about making it easy on them. Delivering on the brand promise, instituting a loyalty program and creating an enrollment process that takes the work off the patient are three ways to maximize the positive power of word-of-mouth marketing. To bring the process full circle, focus on messaging that encourages patients to share their experience with others. Start

conversations on social media, through patient email communication and other digital avenues. Make sure you are constantly educating external audiences about your practice and how they benefit from referring your business and participating in your loyalty program. Consumers trust recommendations from those they consider friends seven times Chris Cooper is the more than they do from advertising. That’s co-creator and chief not to say controlled messaging through operating officer for your advertising, website or marketing GWIG, the first-ever collateral isn’t important and necessary, digital referral platform. because it absolutely is. To build upon that, A small business owner though, you must focus energy into driving for more than 17 years, conversation through informal channels, Chris knows the power as well. You will most successfully build of word-of-mouth for your patient base when those informal congrowing a customer base, versations mirror the messages delivered and he co-developed through controlled channels of communiGWIG to help businesses cation — bringing your brand promise full leverage this power in the circle by harnessing the power of word-ofdigital age. Learn more Cappellacci_gm3461.qxd 10/18/07 4:42 at gwig.com. PM Page 1 about GWIG mouth referrals.

LEGAL SERVICES FOR DENTISTS

DENTAL MARKETPLACE HELP

H E A LT H C A R E L AW Y E R S

We have the experience to provide you with the advice you need.

©abluecup/iStockphotos/Thinkstock

• • • • • •

YOUR ADVISOR IS IN KAREN SHAW TEL: 416-510-6770 FAX: 416-510-5140 E-MAIL: kshaw@oralhealthgroup.com TOLL FREE CDN: 1-800-268-7742 ext 6770 TOLL FREE USA: 1-800-387-7742 ext 6770 WEBSITE: www.oralhealthgroup.com

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 2015

OHO Mar15 p08-9 Cooper.indd 9

15-03-10 9:29 AM

10 Retirement Planning ©udra/iStockphoto/Thinkstock

s ta ea Cr ©

k oc st nk i h /T RF

©U lrich Sch ade /iSt ock pho to/T hink stoc k

©E uge nia Cha ikin a/H em era /Th inks toc k

©Stoc kbyte/T hinksto ck

ck sto ink h /T os ot ph k c to t/iS an r G ick ©R

ou are in the home stretch of a rewarding and fulfilling dental career. Finally, it’s time to relax and enjoy a carefree life, right? Surprisingly, the thought of retirement creates more stress for dentists than even the busiest clinical day. Here’s why: • For the first time in their long career, dentists will be without a steady cash flow. This is frightening for many who are not used to thinking about a budget or a cash plan. • U nlike government employees, union members or corporate workers, dentists do not enjoy the security of a retirement pension. Thirty years of retirement will have to be funded by what they have saved and invested. • M any dentists really do not know how much they need to fund their retirement. There are some “rules of thumb” that can generate an average number — but are they relevant to the individual dentist? In the low interest environment that we are

THE RETIRING DENTIST

living in, are these guidelines misleading? • T here are a number of variables at play that the dentist cannot control — and dentists like to be in control. How much will they spend from year to year? Will their investment savings grow and, if so, by how much? Will they stay healthy? Will they outlive their money? • E specially for general dentists, a large portion of their retirement wealth is locked into their practice. As such, they can only estimate their savings pool. • Most dentists have only given cursory thoughts to what they will do to fill their retirement days. “Golfing more” doesn’t necessarily constitute a life plan. If you are one of many who is experiencing retirement angst, here are some steps to help defuse the stress:

Start Early

Most successful transitions start at least five years before retirement. Setting out a logical retirement plan will prioritize

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p10-12 Chen.indd 10

15-03-10 9:31 AM

Retirement Planning

the steps to be taken to maximize your nest egg. Like a clinical treatment plan, a retirement plan lays out defined actions to be taken and the timing of each action. This way, unexpected and costly surprises can be minimized. Most dentists leave retirement planning until they are ready to retire. Unfortunately, tax planning and practice efficiencies that will maximize retirement savings do take time to implement. Ideally, stick to the five-year rule.

Get a Practice Valuation

For dentists who are practice owners, the first step is to have a proper practice valuation done. Look for a reputable practice broker specifically serving the dental community. They can give you a reliable estimate of your practice worth so that you can begin planning your finances. Equally important, most brokers will provide a comparison of your practice’s strengths and weaknesses in relation to other offices. An early valuation gives you time to improve areas of concern in order to maximize your sale value. Some dentists are hesitant to have a valuation done since they will have to pay for another assessment just prior to sale. Not to worry, many brokers will perform the initial valuation for a set fee and offer annual updates for a reduced amount.

accountant will do two things at this stage. Firstly, they will structure the sale of your practice to maximize your take home value. They will also give you a full estimate of the amount and the timing of taxes owing after your sale. Secondly, they can work with your financial planner/ advisor to minimize ongoing taxes during your retirement. It is important that you feel comfortable with your accountant since they will quarterback your transition and communicate the transition plan with your team of professionals.

Plan a Withdrawal Strategy

Most dentists will have different “buckets” of savings to draw from in retirement. This will include registered plans (RRSPs, TFSAs, IPPs), corporate savings, non-registered cash accounts, life insurance cash values, government support (CPP and OAS) and hard assets such as income properties. Depending on the age of retirement and the size of the buckets, there are strategies to time your withdrawals from the different sources in order to minimize income tax and maximize government benefits. Your financial advisor, in collaboration with your accountant, should initiate this withdrawal plan. At this stage, there should also be a plan to ensure a steady income stream regardless of the shortterm volatility of your investments. Some

Know Your Expenses

Going through a cash flow analysis with your financial advisor should give you a sense of how much you will spend, at least for the first part of retirement. This process looks at your future lifestyle and assigns monetary costs to these activities. Best estimates of how these expenses will change over time as well as factors such as investment rates, inflation and income tax will give you a much clearer picture of your retirement need.

Don’t Forget Taxes

“I am spending a year dead for tax reasons” — Douglas Adams. Your savings is not a true indicator of the amount of cash you will have in retirement. It is only your after tax income that matters. With that in mind, your accountant will play a vital role in your retirement planning. An experienced tax

“Don’t fool yourself — retirement is hard work, but I am enjoying every minute of it.” retired dentists will depend on stocks that pay a predictable dividend; some will draw income from a ladder of maturing bonds; others will rely on guaranteed products such as an annuity or cash value from insurance. Regardless of products, there should be a defined process in place at the time of retirement.

Start an Investment Policy Statement (IPS)

With finite resources in retirement, you should work with your financial advisor oralhealthgroup.com | Oral Health Office | MARCH 2015

OHO Mar15 p10-12 Chen.indd 11

15-03-10 9:31 AM

12 Retirement Planning

to draw up an Investment Policy Statement. This is a written guideline that describes how your money is to be invested. Given your tolerance for risk, the investment returns you expect, and your ongoing cash requirements, an IPS will dictate the following: • Your asset allocation, which is the percentage of cash, fixed income and equities that should be held. Also, the range of these weightings that are acceptable depending on different market conditions. • Your risk tolerance as expressed in the percentage of high, medium or low risk investments that your portfolio will hold. • T he portion of your portfolio that you can access easily and quickly. This deals with the liquidity of the portfolio. • T he goal of your portfolio — whether it is to preserve the savings you have, to maximize the growth of your savings, or to provide a steady income. By setting down these rules, it gives your investment advisor guidance on how to invest and it promotes discipline by sticking to a predetermined guideline. It definitely helps to curb the urge to jump into the next “can’t miss,” speculative stock.

Write Down Goals Dr. Wilson Chen, BSc., DDS, CFP, FMA received his DDS from the University of Western Ontario in 1992 and over the past 22 years, has built a patient-centred, family practice in Hamilton, Ontario. 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.

Retirement requires not just financial planning, but life planning as well. There are many dentists who struggle to define themselves after retirement and end up wishing for their days as a busy practitioner. Before committing to retired life, give some thought to how to fill your days and write down specific goals to be accomplished. What is never written is often never done, so the act of putting goals on paper is important. Here are some suggestions: • If you are selling your practice, discuss transitioning out of the office over a set number of years. This way, you help to build goodwill for the new owner and you get to practice in a familiar environment. It also gives you time to get used to retirement. Make sure the contract is flexible enough for you to leave with notice if the situation is not ideal. • M any dentists will take on locums in

order keep their hand in dentistry. This allows you to pick and choose when and how long you’d like to work and it can provide a healthy balance between feeling productive and feeling relaxed. Keeping your dental license for at least the short term gives you this opportunity. • This is a perfect time to join a club; volunteer for a cause or start a project that you’ve been dreaming about but never had the time to start. Lay the foundation before retirement or as soon as you retire. People tend to lose momentum if they wait too long. • Giving yourself a set schedule of things to do helps to regiment your retirement. Initially, a daily to do list brings purpose to your day. • Retiring dentists have a lot of knowledge and experience to offer. A volunteer position with organized dentistry or helping out at the dental faculty can keep you connected and help the profession at the same time.

Get Healthy

The one wild card that can derail your retirement dreams is an illness or disability. To mitigate this risk requires a twopronged approach. Firstly, maintaining or starting an exercise program in retirement will help keep you active and decrease health related costs. A disciplined work out or activity schedule is even more important after you retire since the extra hours can give the illusion that you can delay exercise for another time. Secondly, you may want to consider critical illness or long term care insurance. There is a cost/benefit to these products and should be considered only as part of a complete financial review. For some, it can help to protect you from depleting your resources in the face of an unexpected event. However, this has to be balanced against your individual risks and savings. A retired dentist recently commented — “Don’t fool yourself — retirement is hard work, but I am enjoying every minute of it.” With active planning and proper advice, you can also enjoy your retirement years after a long, fulfilling career.

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p10-12 Chen.indd 12

15-03-10 9:30 AM

Philips Sonicare FlexCare Platinum More innovation. Less plaque between teeth.

INTERCARE BRUSH HEAD TECHNOLOGY

• Deeper interdental cleaning • Removes up to 7x more plaque between teeth 1

INNOVATIVE PRESSURE SENSOR

• Resonates when too much pressure is applied • Interactive guidance for proper brushing technique

ADJUSTABLE MODES AND INTENSITY SETTINGS

• Clean: Low, Medium and High • White: Low, Medium and High • Gum Care: Low, Medium and High

Philips Sonicare FlexCare Platinum removes significantly more plaque than Oral-B Professional Care 5000 in all areas of the mouth.2 Contact your Sonicare representative to set up a demonstration or to purchase a specially priced trial unit.

philipsoralhealthcare.com

(800) 278-8282

1 Than a manual toothbrush. Ward, W. Jenkins, K. Argosino, S. Souza, M. Nelson, J. Milleman, K.R. Milleman. Assessment of a Sonic Toothbrush on Plaque and Gingivitis. J Dent Res 92 (Spec IssA):3753, 2013. 2 Defenbaugh J, Liu T, Souza S, Ward M, Jenkins W, Colgan P. Comparison of Plaque Removal by Sonicare FlexCare Platinum and Oral-B Professional Care 5000 with Smart Guide. Data on file, 2013. Not yet verified by peer-reviewed research. © 2015 Philips Oral Healthcare, Inc. All rights reserved. PHILIPS and the Philips shield are trademarks of Koninklijke Philips N.V. Sonicare, the Sonicare logo, DiamondClean, FlexCare Platinum, FlexCare, FlexCare+, ProResults, Sonicare For Kids and AirFloss are trademarks of Philips Oral Healthcare.

OHO Mar15 p13 Philips eng AD.indd Philips 15-2585

Sign and initial:

ok as is ok with edits needs edits

15-03-09 10:25 AM

ADVERTORIAL

Why Dental Office Design? Over the years I have heard many dentists ask the question, why should I be concerned with the design of my office and the ergonomics of the clinical treatment room? Even though the project you are undertaking involves brick and mortar, furniture and art, technology and equipment, it is fundamentally an exercise in marketing. Patients, especially patients new to the practice, base their opinions on the level of care they will receive by assessing the quality of the office environment. Regardless of your ability, your success does not depend only on your dental diagnostic and treatment skills, but rather on your perceived competence as viewed from your patients’ perspective. You have no choice about the fact that your office will speak to patients, but you do have the choice about what it will say. If you accept that your office design is, among other things, a communication tool, then it should be the personification of your marketing program. Patients base their expectations of care on those items they can judge. Here are a few rules to help ensure your patients are “hearing” what you are saying through your design. Patients disdain clutter. Clutter dramatically lowers the patient’s opinion of the level of care they receive.

Your design plan must incorporate proper storage and efficient design to eliminate clutter. Be consistent. The key to success of the practice is congruency. You must be consistent in everything you do, say and display to your patients. The function and esthetics of your office must be congruent with the treatment Overall, paying attention to designing a functional and esthetic office while establishing an ergonomic environment in the operatory can dramatically enhance your productivity and physical well-being, making you feel much more relaxed and refreshed at the end of the work day. The decision to build or redesign your dental practice is one of the most important decisions, and biggest investments of your career. It will affect your efficiency, productivity, patient relations and your enjoyment of a prosperous and healthy dental career. Undertaking this project is a major endeavor. The good news is that you do not have to do it alone. Pelton & Crane offers a number of services designed to help you achieve the practice of your dreams. Learn how Pelton & Crane can help you reflect your success through office design at www.pelton.net/dentaloffice-design

Dr. Mark Tholen, DDS, MBA is the author of the best-selling dental office design book, “A Guide to Designing the Elegant Dental or Medical Office... The Largest Marketing Tool of Your Career.” Dr. Tholen is also the former CEO of T.H.E. Design, one of the country’s leading dental office design firms that has created over 3,000 offices across North American, Europe and Australia.

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p14-15 Pelton ADVERT.indd 14

15-03-09 10:26 AM

Success REFLECT YOUR

â&#x20AC;&#x153;Pelton & Crane produces beautiful equipment that

contributes to the aesthetics of my practice while still offering great functionality for excellent dentistry.â&#x20AC;? - Dr. Bradford Picot

At Pelton & Crane, we combine design and functionality to create innovative products that reflect your success. We are passionate about creating clinical environments that enhance the dental experience for practitioners and patients - and with 115 years of experience, you can feel comfortable knowing

Your Image Reflected.

Pelton & Crane is a name you can trust.

OHO Mar15 p14-15 Pelton ADVERT.indd 15

15-03-09 10:26 AM

16 Business Management

©Thinkstock

THE EMERGING WORK WORLD IN THE PARTICIPATION AGE

few years ago, I read a blog post by a young guy who made it clear that a new work world is emerging. His post went something like this: Every morning when I get to work, I park my car, leave myself in the car, and go into work. At lunch, I always try to come back out and reunite with myself for a few minutes, before I have to leave myself in the car again, and go back into work. I do this every day. And in the evenings I always hope I’ll get off in time to come back out and reunite with myself… before I’m gone. What this guy identified is that he is living at the intersection of two opposing work worlds: The Industrial Age, which is still strangely dominant in the front office of most companies and The Participation Age, which is emerging as the new standard for how we work. It’s an awkward pass-off.

For instance, the front office of the typical dental practice looks pretty much the same way it did many, many years ago, with practice owners and/or managers making all the decisions. These Industrial Age management practices, which recreated humans as extensions of machines, are colliding with the emerging Participation Age workforce that wants to make meaning at work, not just money. The hallmarks of the Participation Age are simple, participation & sharing. Dental practices are discovering that if they invite everyone to participate in the building of a great company, and to share in the rewards, that both the practice and the people profit more. The Participation Age is changing everything and creating workplaces with a soul. This isn’t woo-woo crap; these are hard-core success strategies. And it isn’t a fringe idea. Those who embrace the Participation Age will thrive, those who don’t will be left behind.

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p16-18 Blakeman.indd 16

15-03-10 9:38 AM

Business Management

So what does a Participation Age company look like? Imagine a dental office with: • no departments, • no corporate ladder or promotions, • no HR person/department, • no written policies, just a few written beliefs. And imagine a practice where there is nobody “managing,” just a very few leaders who lead because people are following them, not because they have a title on their door. Could you imagine a practice with no office hours, with self-managed team members who own the decisions they will have to carry out? How about a dental office with unlimited vacation and profit sharing for everyone? In his book, Reinventing Organizations, Frederic Laloux said, “Imagine what organizations would be like if we stopped designing them like soulless, clunky machines.” And I would add, what would organizations achieve if we reimagined them around the idea that people actually want to be creative, productive, self-managed adults? Well the good news is that this isn’t something we have to imagine. Participation Age companies are springing up all around us. Dental offices are no different and should be racing to embrace the Participation Age as fast as they can. It’s important to know why so many dental offices are embracing the Participation Age. WHY is the most human of all questions. Yet what is the one question we were not allowed to ask for over a hundred years at work? The answer is of course WHY! If we asked why, we were challenging authority, we were rebels, outcasts, misfits! These were systems designed by a few geniuses to be run by unquestioning, child-like employees. But in the emerging Participation Age, all of that is changing, and thankfully very quickly. To that end, managers, who embrace authority and control, are disappearing in favor of exponentially fewer leaders, who embrace participation and sharing. And employees, who are treated like children, herded into office day care centers, and supervised, are being replaced

with stakeholders; self-motivated adults who are able to make their own decisions and who don’t need to be managed, just led. So what’s the difference between an employee and a stakeholder? Employees come to work as extensions of machines, while stakeholders bring the whole messy, creative person to work. And like machines, employees just do what they are told. Stakeholders question everything. But most importantly, employees need to be managed, while stakeholders simply need to be led. So how do we stop managing and start leading in order to free people up to become stakeholders? First we need to stop solving problems and deciding things. Leaders train other people to solve problems, and after delegating the decisionmaking, they get out of the way. The art of leadership is to know how few decisions the leader needs to make. Secondly, managers focus on processes, while leaders will always focus on results. And thirdly, managers delegate tasks, which make people feel used, while leaders give responsibility, which creates ownership, the most powerful motivator in business.

Leaders train other people to solve problems, and after delegating the decision-making, they get out of the way In the Industrial Age, nobody owned anything related to their job, especially their time. We traded time for money; it was a very clear exchange. You work for x amount of time, and I will pay you x amount of money. But in the Participation Age, practices are realizing that when you give people time, they will make you more money. Give them control over their time, and they will build a great practice, not for you, but with you. Something else is emerging, or really reemerging; the desire to make meaning at oralhealthgroup.com | Oral Health Office | MARCH 2015

OHO Mar15 p16-18 Blakeman.indd 17

15-03-10 9:38 AM

18 Business Management

Chuck Blakeman is a Best-Selling Business Author and WorldRenowned Business Advisor who started and built eight businesses in 25 years in the U.S. and internationally, and now uses his experience to help business owners and executives create success. His company, Crankset Group, inspires and transforms your approach to business and your future.

work, not just money. Research shows that every cohort group, from millennials to baby boomers, want to make meaning at work. The difference is that boomers were taught by their Industrial Age parents to shut up, sit down, don’t ask why, live invisibly, and go out quietly. But you see, millennials are not growing up in the shadow of the Industrial Age, and so they won’t put up with just having a job, stripped of its humanity. They actually want work, not just have a job, because work is meaningful and a job only pays the bills. To practice owners this may all sound like sappy HR stuff to placate your staff. So let’s take a look at how the Participation Age is working out for the company/ practice. The average Fortune 500 Company grows 122% in ten years. Jim Collin’s carefully selected “Good to Great” companies grew an average of 316% over ten years. So what about Participation Age companies? Raj Sisodia in his book, Firms of Endearment, asked the Fortune 500 this outlandish question: “Are any of you in business to do something greater than just make money for your investors? And he found thirty companies that raised their hands and said, “Our first priority is to make meaning, not money.” And with that primary commitment to making meaning, those thirty companies grew an average of 1,025% over ten years; three times faster than good to great companies and ten times faster than the norm. The results are in! Going forward, if you want to make a bucket-load of money as a company, you need to join the Participation Age. A great example: Ricardo Semler took over an Industrial Age company called Semco in 1981. He replaced all managers with just a very few leaders, and told people they were now adults who would all be making their own decisions going forward. People work in pods/teams and every six months they vote on who gets to stay, how much they each get paid, what productivity goals are, and who gets to lead. It sounds

like chaos, but it’s more organized and more efficient than traditional companies. The results? When Semler took over, they had about a 100 employees and a $10M company. Today, Semco is north of 3,000 Stakeholders (no managers), and $600+ million in revenue. In a recent tenyear period, their revenues were up 600 percent, profits were up 500 percent, and turnover is less than one percent. So, how do we build a Participation Age Practice? • Make sure your staff gets paid for great work, not for time spent sitting in a chair for another year. In other words, create a results-based workplace. • M ake sure your team is empowered to make the decisions they will have to carry out. • Make your stakeholders know that they are invited to bring the whole messy, creative person to work. And how should we prepare to contribute in the Participation Age? • Focus on making meaning at work, not just money. • B e self-motivated and create your own path. Employees need to be told what to do, but stakeholders act like owners and are rewarded for being self-motivated. • A sk yourself, what motivates me at my very core? My mother strongly encouraged me to build a life around the three S’s of the Industrial Age: safety, security, and stability. The problem is, these are near the bottom of what motivates people. But in the emerging work world, Stakeholders will stand on the foundation of Safety, Security and Stability to pursue the fourth S of the Participation Age, Significance. This may be a trapeze moment for you. If you run or own a practice, you may have a decision to make. Are you ready to embrace the Participation Age, or are you already there? Don’t settle! Please… come join us in The Participation Age!

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p16-18 Blakeman.indd 18

15-03-10 9:37 AM

Your banking should be as personalized as your patient care.

Specialized banking advice for your practice. Your expert advice helps your patients stay healthy. TD Business Banking Specialists work with you to help keep your business just as healthy with banking solutions and specialized banking advice. And because weâ&#x20AC;&#x2122;re open earlier, open later and even on Sundays,* you can get the advice you need, on your time. Because a healthy practice deserves specialized care.

Visit tdcanadatrust.com/dentists or call 1-888-679-4808 *Individual branch hours vary. 400 branches are open Sundays. ÂŽ The TD logo and other trade-marks are the property of The Toronto-Dominion Bank.

OHO Mar15 p19 TD AD.indd 19

15-03-09 10:29 AM

ADVERTORIAL

The powerful answer for tough indications

Ti-Max® Z900L Standard Head Handpiece from NSK. It’s the FIRST air-driven handpiece in the history of the dental industry to deliver 26 watts of power!

“Since the Ti-Max Z900L was introduced, we’ve heard rave reviews about the big difference that 26W of power makes. Dentists are finding out how much more easily they can move through tough cases and reduce treatment time,” said Rob Gochoel, Sales and Marketing Director for NSK Dental. “As a result of the high power output and a new turbine design, the handling is remarkably smooth. That not only saves time but reduces fatigue, which really pays off on busy days.” 26W of power in a miniature head series for tough cases in tough-to-reach areas. “Dentists are equally impressed by the 23W of power from our Ti-Max Z800L miniature head series,” added Mr. Gochoel. “That actually exceeds the power delivered by nearly all standard head handpieces on the market. That kind of speed in a mini head design is a big plus – especially in pediatric dentistry.”

Ti-Max® Z900L and Ti-Max® Z800L handpieces offer the same procedure-enhancing features. STEADY – Unprecedented power output leads to improved, consistent cutting performance for more trouble-free, comfortable use. DURABLE – Solid titanium body with scratch-resistant DURACOAT. Newly developed bearings nearly double the durability of older turbine designs. Industry-leading 21/2 -Year Warranty IMPROVED HANDLING – An ergonomic body shape and new DURAGRIP® coating provide superior grip and handling, even when wet.

Experience the power of Ti-Max Z900L for yourself at the 2015 ODA Annual Spring Meeting in Toronto, ON – NSK Booth #1811

Ti-Max® Z800L Miniature Head 23W Power/Speed: 360,000 - 420,000 rpm

Ti-Max® Z900L Standard Head 26W Power/Speed: 320,000 - 420,000 rpm

EASIER ACCESS – A small head, even slimmer neck and optimal 94° angle improves visibility and access compared to handpieces with a typical 90° angle. INTERCHANGEABLE CARTRIDGE – Can be replaced chairside to maintain productivity, reduce downtime and minimize repair costs, since the handpiece doesn’t need to be shipped out for repair. FITS MOST COUPLERS – Multiple back-end types are available to fit most competitive couplers, including KaVo, W&H, Midwest and Star. Both offer other popular features NSK is known for, including • Push Button Chuck • Quattro Water Spray • Microfilter • Patented Clean Head System • Cellular Glass Optics

NSK Dental LLC

www.NSKDental.ca

1800 Global Parkway • Hoffman Estates, IL 60192 USA • Tel. (888) 675-1675

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p20-21 NSK ADVERT.indd 20

Wi yo co tim str co lev de im of

15-03-09 10:30 AM

r of the powe e c n e ri e at the Exp yourself L 0 0 9 Z x Ti-Ma

A g 2015 ODSpring Meetin l a Annu , ON Toronto 1

h #181 t o o B K NS

26W OF PURE POWER JUST RAISED THE BAR AGAIN

Air Turbine Series

SPECIAL OFFER

Buy any 3 Ti-Max Z Air turbine series

Get 1 FREE! Details at www.NSKDental.ca

Ti-Max® Z900L Air Turbine

Most power. Ti-Max Z900L*

Longest Warranty. 26W 30-mo. warranty*

With an unprecedented 26W of air-powered torque, 23W 24-mo. warranty1 KaVo M8900 L1 you’ll experience a level of smoothness, consistency and comfort not available until now – and shorter treatment W&H Synea 500 Series TK-98L2 21W 24-mo. warranty 2 times. Its top speed is matched by top features, like a *Internal data. 1. As listed at http://www.kavousa.com. Warranty extends to 30 months, if maintained in a KaVo QUATTROcare Plus. 2. As listed at http://us-a-dec.com strong, lightweight, pure titanium body with DURAGRIP® coating. An optimized ergonomic design for more leverage and less fatigue. And a new cartridge design and bearings that dramatically improve durability. Experience the power of 26W with a FREE TRIAL! of all handpiece

100%

components are manufactured in-house in Japan.

FREE TRIAL Details at www.NSKDental.ca

NSK instruments available from:

NSK Dental LLC

www.NSKDental.ca

OHO Mar15 p20-21 NSK ADVERT.indd 21

15-03-09 10:30 AM

ADVERTORIAL

Realize the Buried Income Hidden in Your Charts and Stop worrying about Increasing Production and Income!

One of the biggest worries a private practice dentist has is maintaining or increasing productivity and income. There is a whole profession of consultants, marketing gurus, and other schemes to get dentists to ‘buy into’ activities with promises to boost their practice income. The fact is – not one of those mentioned above, look at your data. Your practice’s data is an accumulation of your business. Your data tells a story. Scientifically, data is factual information you can use to make sound management decisions. You just need someone to analyze it, formulate an income strategy for you, teach you and deploy it for you in your office.

Let’s ponder for a moment. How many active patients: •Don’t have a future recall appointment booked. •Have a treatment plan yet, no appointment. •Have a pre-d on file, yet no appointment. If you have paper charts, there is income buried in your hand-written notes. To extract this information manually, it’s painful, time consuming and expensive. Maxident Software will set you free by removing the stress and pressures to boost income, teach your staff systems to produce more by maximizing their efficiency and automating their tasks.

Maxident will replace your current practice management software, convert your data for free, and help you & your staff mine the Gold in Your Charts. Your staff will be happier with the coaching attention we give them; and you will become a wealthier dentist!

Maximize Your Profit with Maxident!

We Guarantee results because “Maximizing Your Income” is in our name. call 1.800.663.7199 or visit www.maxidentsoftware.com

PRACTICE MANAGEMENT SOFTWARE

linkedin @MaxidentSoftware | twitter @MaxiDent_ | facebook @MaxidentDentalSoftware

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p22-23 Maxim ADVERT.indd 22

15-03-09 10:31 AM

PRACTICE MANAGEMENT SOFTWARE

Realize the Buried Income You have in Your Charts Request a FREE Practice Evaluation!

1.800.663.7199

Introducing a better way to manage your practice and yield higher income!

www.maxidentsoftware.com | 1.800.663.7199 | info@maximsoftware.com

OHO Mar15 p22-23 Maxim ADVERT.indd 23

15-03-09 10:31 AM

24 Finance

SAVING TAXES AND PLANNING CAREFULLY

One Deduction & Planning Manoeuver AT A TIME

Three Tax Planning Concepts:

TABLE ONE

• Income Splitting, • A sset ownership and accessing tax-free money,

• C laiming the Lifetime Capital Gain Exemption (LCGE).

1. Income Splitting: Income splitting is an effective way of saving taxes by dividing income into as many “hands” as possible. One individual earning $100,000 will pay much higher taxes than two individuals each earning $50,000. Consider Dr. Kiran Jaswal family’s situation. Her husband earns $60,000 a year as an engineer, while Kiran earns $200,000 associating at various practices. Their current tax situation is as follows (see Table 1). Let’s see what their tax situation could be if they were to implement income splitting (see Table 2). The tax savings in this case could be

NO INCOME SPLITTING

INCOME

2015 TAXES (EXCLUDING CPP & EI)

TAKE-HOME

Kiran

200,000

71,000

129,000

Husband

60,000

12,000

48,000

TOTAL

260,000

83,000

177,000

©scanrail/iStockphotos/Thinkstock

s April 30 th approaches, tax pain begins to rear its ugly head. Much like delaying a root canal, there’s only so long you can wait until you have to tackle the problem. Most tax pain stems from failing to plan. For every tax problem there is a solution, you just have to have enough time to implement it. By asking yourself “What can I do now to save on taxes in the future?”, you are ready to take steps towards tax relief. Let’s review three tax planning concepts and a few overlooked tax breaks:

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p24-26 Chong Yen.indd 24

15-03-10 9:43 AM

Finance

If you have a Dentistry Professional Corporation (PC), consider applying these income splitting techniques: • Paying dividends to lower income family members who are shareholders of your PC. This can include the dentist’s mom, dad, spouse/common-law and children over 18. An individual with no other income can receive dividends of $40,000 and pay less than $1,000 in taxes. • Multiplying the LCGE by having other family members own an equity stake of your PC. The LCGE shelters you from taxes on $813,600 (2015) of capital gains from the sale of your qualified PC dental practice shares. If your practice is worth TABLE TWO

©scanrail/iStockphotos/Thinkstock

$7,000. Consider what an extra $7,000 annually for your family would mean. Not just in terms of dollars, but also time. To earn $7,000 after tax, Kiran would have to earn nearly $13,500 more in pre-tax income. That is almost an entire month of work spent in the clinic away from her family. The question now is how do you implement income splitting? Here are some examples: • Paying your spouse a reasonable salary for doing work at the practice. • Having the higher income spouse pay for all the household expenses while the lower income spouse invests their savings. Investment income will be taxed at lower rates in the lower income spouse’s hands. • You can lend your lower income spouse money with an interest rate of 1% (CRA’s prescribed rate for January 1 to March 31, 2015). If your spouse invests the money and earns a 4% return, the family achieves tax savings on the 3% net return. The interest must be paid by your spouse by January 30th of the following year. Interest received must be reported on your income tax return while your spouse would be able to deduct the interest expense.

more than $813,600, you can split the proceeds with other equity shareholders and use their available LCGE to further shelter your family from taxes. The primary risk with this strategy is that in the event of a divorce, a relationship breakdown or wayward children, the money received from selling your shares could be at risk. Similar techniques with a Hygiene/ Technical Service Corporation may also apply.

For every tax problem there is a solution, you just have to have enough time to implement it 2. A sset ownership and accessing tax-free money There’s no free lunch when it comes to getting money out of the PC. Salaries and dividends both result in personal taxes. However, certain assets you hold personally could result in tax-free money in your pocket. For example, if you personally own a Universal or Whole Life Insurance policy, you could receive money tax free from your PC. By transferring your Universal or Whole Life policy which you own personally to your PC, you can receive tax-free money equivalent to the fair value of the policy at the time of the transfer. The premiums will continue to be non-deductible for tax purposes but can be funded with cheap after-tax dollars in the PC. For this maneuver to work, you need to change the owner and beneficiary of the insurance policy to your PC and have your insurance professional obtain the value of the policy immediately prior to the transfer. Note

NO INCOME SPLITTING

INCOME

2015 TAXES (EXCLUDING CPP & EI)

TAKE-HOME

Kiran

130,000

38,000

92,000

Husband

130,000

38,000

92,000

TOTAL

260,000

76,000

184,000 oralhealthgroup.com | Oral Health Office | MARCH 2015

OHO Mar15 p24-26 Chong Yen.indd 25

15-03-10 9:39 AM

26 Finance

that this maneuver could affect your ability to claim the lifetime capital gains exemption and trigger additional taxes to remove it when you sell the shares of your PC in the future.

This article was prepared by David Chong Yen, CPA, CA, CFP, Louise Wong, CPA, CA, TEP and Eugene Chu, CPA, CA, MAcc of DCY Professional Corporation Chartered Accountants who have been advising dentists for decades. Additional information can be obtained by phone (416) 510-8888, fax (416) 510-2699, or e-mail david@dcy.ca / louise@dcy.ca / eugenechu@dcy.ca. Visit our website at www.dcy.ca. This article is intended to present tax saving and planning ideas, and is not intended to replace professional advice.

3. Claiming the LCGE The biggest tax break a dentist will get in their career is the LCGE. Many dentists wait until the sale of their PC shares to claim the LCGE. However, there is a way you can claim the LCGE earlier and while you still own the practice. Why would you do this? — Secure your LCGE now in the event the government eliminates the tax break in the future. — If your PC has excess cash and investments, you could be in for a large unexpected tax bill when it comes time to sell your PC shares. Claiming the LCGE now, allows you to use your PC to accumulate excess cash and investments without worrying about jeopardizing your ability to claim the LCGE. You will trigger a capital gain by reporting a “notional sale” and freezing your existing shares at their current value. To offset the capital gain, you will claim the LCGE. When it comes time to sell your shares to a third party, you will pay taxes on the difference between the selling price and the frozen value assuming the frozen value has been sheltered by the LCGE. Consult with your accountant about the pros and cons of this maneuver. Planning for taxes ahead of due dates serves a second purpose, it prevents you from missing out on tax breaks. Here are few overlooked tax breaks:

Overlooked Tax Breaks

Donations: If you are doing any home renovations, consider contacting Habitat for Humanity and asking them to remove your old kitchen cabinets or other used fixtures. This won’t cost you a penny, but they will provide you with a donation receipt for the value of the items they receive. The same applies to any used dental equip-

ment that is still in good working order. Instead of donating cash to a charity, donate investments which have appreciated in value. For example, if you own Apple Shares and donate them to charity, you will get a donation receipt for the value of the shares at the time they were donated and won’t be taxed on the increase/appreciation since you owned them. The charity still gets the same dollar value; but you get a bigger tax break. Don’t forget to group your donations with your spouse on a single return. You get a bigger tax break after the first $200 of donations. This might mean saving up and claiming donations periodically instead of every year. Meals/Entertainment: Most dentists believe that only 50% of meals and entertainment incurred in connection with your dental practice are tax deductible. The exception to this rule is where you invite all of your staff to the event. In this case, up to 6 staff meals per year are 100% tax deductible. Parties held during Christmas and other religious holidays come to mind. Child Care Expenses: Paying your parents or child 18 and older who are in a low tax bracket to babysit your children 16 and younger can result in tax savings for the family. Under the proposed limits, childcare expenses of up to $8,000 per child under the age of seven and $5,000 per child who is seven to 16 years old can be claimed. The recipient of this income, including your parents, will report the income. However, for most individuals earning a total income of about $11,000, virtually no taxes are payable.

Conclusion

Taxes are here to stay. To minimize your tax pain, get a head start on planning. You should be looking ahead to next year’s tax deadline, not this year’s. There are many tax tools available at your disposal; use each and every one of them as a step along your tax savings journey.

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p24-26 Chong Yen.indd 26

15-03-10 9:39 AM

Become a Real-Life ToothFairy! Save a young smile, change a life! Join us today! Visit www.CanadasToothFairy.org to make your donation and check out our programs for dental professionals.

Founding Supporter

...because every child deserves a healthy smile.速 100% of your contribution goes directly to smile-saving programs thanks to these generous Corporate Underwriters:

OHO Mar15 p27 House AD.indd 27

15-03-09 2:06 PM

ADVERTORIAL

Need more space? Think smart. A dentist discovers how to create more space without moving walls. When Dr. Bradley Handick, DDS, purchased his 30-year-old practice in 1998, not much had changed since it was first built. After 13 years of running a successful practice in this cramped and dated environment, he decided it was time for an update. Dr. Handick set out to spruce up the practice with new paint and landscaping… but his account representative suggested that he speak to one of their in-house designers to consider a “think smarter” approach.

Open to change. While local building codes and load-bearing walls prevented Dr. Handick from tearing them down or launching into a complete structural overhaul, his

A modest update has a big impact.

representative and design team showed him a new

Creating more of an open entry, moving a sink that

floor plan, which included the addition of a second

used to be on the doctor’s side to the assistant’s

door into the operatories to open up flow into the in the

side and other small changes, freed up room for a

treatment rooms. “Everything changed when I could

new front delivery system. An A-dec cabinet behind

imagine what it could be like,” expressed Dr. Handick.

the doctor created space for the computer tower,

A trip to the A-dec campus was next. Dr. Handick

monitors, and a lot of storage for equipment used

spent hands-on time with the possibilities in a series of

to live outside the room. The entire remodel, inside

18 fully equipped model operatories. The combination

and out, was complete in ten months. Today, with a

of cabinetry and equipment made an immediate

streamlined and transformed environment, greater

impact. After testing the side and front deliveries,

flow and ease for the staff and everything close at

Dr. Handick quickly identified one with balance and feel

hand, Dr. Handick is ecstatic—and far more energetic

that felt right for him. “The moment I sat down with the

at the end of the week. His team couldn’t agree more:

Continental delivery system, it dawned on me: Things

The well-planned, modest overhaul made a bold and

could be so much easier,” says Dr. Handick.

lasting impact on the practice.

See what a think smart approach can do for your office. Call 1.800.547.1883 or visit a-dec.com.

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p28-29 Adec ADVERT.indd 28

15-03-09 3:21 PM

Now it’s your turn to dream.

It’s time to explore your treatment room options. Choose your layout and equipment. Apply your favorite color combinations and even request color samples. Create the treatment room you’ve always wanted, right from your computer or mobile device. Dream big now at a-dec.com/InspireMe.

OHO Mar15 p28-29 Adec ADVERT.indd 29

15-03-09 3:21 PM

30 Business Management

Optimize your Dental LinkedIn Profile for Higher Online Visibility inkedIn is a highly successful social network designed exclusively for professionals in every field. With a professional membership of over 300 million across 200 countries, it is undoubtedly the leading professional network by far. As per the official figures released by LinkedIn, more than a million American medical professionals were on LinkedIn in 2013. A recent study revealed that among social networks, LinkedIn appears most often at the top of Google search results. LinkedIn is focused on providing more value to its professional members by adding new and innovative features. It provides you with a strong opportunity to utilize the features effectively to improve your position as an expert in your area of dentistry.

Keyord-rich LinkedIn Profile Make sure that you provide adequate and accu-

rate information in your LinkedIn Profile, to begin with. Do not ignore the importance of targeted, localized keywords in your profile, which will make it easier for search engines to identify you and include you prominently in their search results. In your profile, the keywords may be included in the headline, job title, job description, summary, skills, and interests.

Professionally Appealing Portfolio LinkedIn gives you the opportunity to show-

case your professional attributes in an attractive way so that it receives more attention. Focus on providing high quality visual content in the form of images, videos, infograph-

ics and slideshare presentations. Add examples of the procedures you perform, or the awards you may have received, or client testimonials through effective visuals.

Support from Others in the Network Professional endorsements and recommendations

from others are a powerful feature of LinkedIn that you may utilize to your maximum advantage. The network allows others who are connected to you on LinkedIn to endorse your profile in a particular professional area, where they believe you have the expertise. Recommendations are more specific and detailed, which makes them more valuable. The higher the number of recommendations, the better will be your search visibility prospects on the network. You can simply ask the people you are connected to within the network to provide a recommendation.

Advanced People Search Make full use of the Advanced People Search

tool on LinkedIn to carry out targeted searches as per your requirement. You can identify people you may be knowing, but who are not connected to you on the network. This tool allows you to get in touch with other dentists, potential business associates, and industry influencers. The search box provided at the top of the page can be used to perform searches based on name, keyword, title, location, college, and industry, among others.

Alumni Search I f you visit the alumni section of Linked at

linkedin.com/alumni, you will notice that your

©Thinkstock

Naren Arulrajah, Vikas Vij

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p30-31 Naren Arulrajah.indd 30

15-03-10 9:44 AM

Business Management

college or university, as specified in your professional profile, will already be selected. Through this tool, you can look for relevant alumni connections by way of “what they do,” “where they work,” and “where they are located.” Other categories include “what they are skilled at,” “where they studied,” and “how you are connected.”

Business Page I n addition to your professional profile

page on LinkedIn, you can also create a dedicated page for your dental practice. This page can include news and content related to your practice, latest updates from the industry, information on related happenings and events, and job opportunities. You can also use this page to position your practice more effectively, and showcase your expert employees too. When local users search for a suitable practice in your area, they will come across this page, which makes it an excel-

lent business and marketing opportunity.

Professional LinkedIn Groups You can boost your professional profile

and personal brand value by joining likeminded groups on LinkedIn that relate to your professional interests. Choose the most relevant groups, and engage with group members proactively whenever you get an opportunity. The network allows you to join up to 50 groups. Active engagement on groups and sharing content and articles will also improve your online search visibility substantially. I f you are able to effectively optimize the features that LinkedIn offers, it can provide you a valuable opportunity to promote your dental practice, improve your online reputation, and help you grow professionally. The network can also support generation of high quality inbound links for your website to enhance the prospects of search engine rankings for the site.

Naren Arulrajah is the President and CEO of Ekwa Marketing, a complete Internet marketing company that focuses on website development, SEO, social media marketing, and the online reputations of dentists. Visit Ekwa Marketing at www.ekwa.com.

Oral HealtH GrOup With four leading publications and a dynamic website, Oral Health Group delivers complete, comprehensive coverage of the dental profession in Canada. Our publications serve all members of the dental team: dentists, hygienists, dental lab owners and technicians, dental students and members of the dental industry. Proud to be serving the Canadian dental profession for over 100 years, Oral Health is the voice of Canadian dentistry!

©Thinkstock

www.oralhealthgroup.com oralhealthgroup.com | Oral Health Office | MARCH 2015

OHO Mar15 p30-31 Naren Arulrajah.indd 31

15-03-10 9:44 AM

ADVERTORIAL

How does Software Impact Dental Practice Success? Successful implementation and optimal use of top-quality dental software has a major impact on the effectiveness of a dental practice over time. With 30+ years serving the needs of Canadian dentists, ABELDent Inc. has significant experience with both the long and short-term views of dental practice success. Thousands of dental teams use ABELDent – many for decades – and often after disappointment with other software. We examined the factors that practices usually consider when selecting dental software and asked: Are they the factors that will actually have the greatest impact on their practice success? How long does it take before the software selection can be called the right one? After a few months? A year? Or only after several years? When dental practices share with us their most positive software implementation experience, a resounding recurring theme emerges:

Peace of mind Stability and Security. Your dental software data is a valuable practice asset. Protecting this asset is imperative, especially in a connected world. A software vendor should do more than just give you the means to collect data – they should also provide the means to protect it. Usability and Intuitiveness. More than a collection of features, dental software is a means for you to make the best use of your practice resources. How something is done, and why, is as important as what the software does. Consistency and Reliability of Support. No one wants to have to call for support, but it’s reassuring to know that responsive, reliable, professional support will be available 24x7x365 if you happen to need it.

Change Management. Software changes over time. So do regulatory requirements, patient expectations and technology platforms – cloud-based vs local solution is one current example. No one can predict the future, but a dental software vendor should anticipate change, plan for it, and help its clients maximize the opportunities and minimize the risks that come with it.

Of course there are other factors to consider when selecting dental software: features at the time of purchase, initial price and cost of training, to name a few. Yet, as important as they are, those factors will likely not be top of mind when you assess the impact that your dental software has had on your practice over time.

Dental software is a long-term investment: In your practice. In your team. In yourself. With so much at stake, it’s important to begin the decision process with the end in mind.

9 Your best choice today and for as long as you practise dentistry. 1-800-267-ABEL (2235) ext. 1 www.abeldent.com/oho

inf MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p32-33 Abeldent ADVERT.indd 32

15-03-10 8:08 AM

Superior Softw ar e for Your P e ace of Mind

Practising dentistry shouldn't be stressful. Thatâ&#x20AC;&#x2122;s why thousands of Canadian dentists count on ABELDen t to improve their practices, so they can focus on improving

9 Intuitive user interface 9 Efficient, paperless workflow

their lives and the lives of their patients.

9 More complete, secure records 9 Seamlessly integrated patient communication

In v e s t in the la s t softw ar e y ou'll e v er nee d.

9 Flexibility to adapt to your changing needs 9 Around-the-clock technical support 9 Support for Canadaâ&#x20AC;&#x2122;s new anti-spam law

info@abeldent.com

OHO Mar15 p32-33 Abeldent ADVERT.indd 33

Quick to Implement * Easy to Use * Personalized Service

1-800-267-ABEL (2235)

www.abeldent.com/oho

15-03-10 8:08 AM

ADVERTORIAL

About the Author: Mark McNulty Mark McNulty is President of McNulty Group, a firm responsible for managing a quarter of a billion dollars in retirement savings for 85 Canadian dentists. McNulty Group helps professional families transition from a life of successful practice to a stress-free retirement. Mark is the author of The Transition Coach 2.0—A Canadian Dentist’s Guide to a Perfect Retirement, and the co-author of The Canadian Small Business Owner’s Guide to Financial Independence. In addition to multiple television and radio appearances, he is a regular columnist in The Professional Advisory for Dental Professionals, and a regular contributor to Ontario Dentist, the publication of the Ontario Dental Association. Mark is also a speaker at the ODA’s Transitioning Out of Your Practice seminar. Mark lives in Unionville, Ontario, with his wife and three children. info@mcnultygroup.ca www.mcnultygroup.ca

MARCH 2015 | Oral Health Office | oralhealthgroup.com

6Million_Book_Ad_Bio.indd 1 OHO Mar15 p34-35 McNulty ADVERT.indd 34

2015-03-04 5:24 AM 15-03-10 8:12 AM

04 5:24 AM

How am I doing compared to my Colleagues? The $6 Million Dentist by Mark McNulty An Exploration into Dentists’ Retirement in Canada experienced through 30 years of LIVE financial data Module 1 digital preview is NOW available to download at 6milliondentist.com—promotion code: mcnulty2015 Purchase inquiries, please contact : info@mcnultygroup.ca

A new book by Mark McNulty    

The $6 Million Dentist

the the $6million $6million dentist dentist

Module 1 PREVIEW

Successful Succession in 7 Modules by

Mark McNulty

M c Nu l t y G r o u p H o l l i s We a l t h

OHO Mar15 p34-35 McNulty ADVERT.indd 35

15-03-10 8:13 AM

36 Technology

LASERS & TESLAS & DENTISTS,

OH MY! Michael Carabash & Karen Ergus

Dr. Valerie Stavro & Dr. Fadi Swaida DENTAL LASERS Dr. Valerie Stavro and Dr. Fadi Swaida have never spoken to one another. But they share a common story: treating a young female patient suffering from a tongue-tie by using a dental laser that also sprays a mist of water (which acts to mitigate heat and pain). Within minutes after receiving treatment, the patients experienced similarly significant lifestyle enhancements. For Dr. Stavro, a once shy young girl now had more confidence and ecstatic parents (they had previously been taking their daughter to see a speech pathologist). For Dr. Swaida, his patient was immediately able to pronounce words like “Sarah” and “Sally,” a previously daunting task. In both scenarios, dental lasers allowed Dr. Stavro and Dr. Swaida to offer a quick and non-invasive treatment that went above and beyond the traditional scope dentistry. And fixing tongue-ties is just scratching the surface (no pun intended). Dental lasers offer unparalleled precision and minimized collateral damage to tissue vis-à-vis a drill or scalpel. They can be used for soft tissue surgeries, osseous surgery, anesthetic-free cavity preparation, periodontal maintenance and surgery, and certain implant and endodontic procedures. They can coagulate as they cut soft tissue, giving greater visibility and minimizing the need for sutures and dressings. And they can even

destroy harmful bacteria and help with the healing process. No sharp needles, no noisy drills, shorter treatment times, and less risk of contamination — it all sounds like a marketing slogan aimed at anxious patients. And Dr. Stavro and Dr. Swaida have seen firsthand how offering treatments, via their dental laser; helps attract patients in a very competitive marketplace (Dr. Stavro’s office is located in downtown Toronto and Dr. Swaida has an office in Mississauga). Notwithstanding their many benefits, Dr. Stavro and Dr. Swaida are quick to point out that today’s dental lasers are not without their shortcomings. For starters, they require a significant up-front investment in both money and time (Dr. Stavro and Dr. Swaida have attended numerous continuing education courses). Furthermore, even though lasers have been around since the 1960s, they can still be improved: Dr. Stavro mentioned that some lasers can be quite loud (she uses earplugs when using a more powerful handpiece) and Dr. Swaida mentioned how it takes longer to cut a tooth using the laser than it does using a drill. Despite these limitations, Dr. Stavro and Dr. Swaida still believe the benefits of dental lasers outweigh their costs. As per Dr. Stavro: “Some dentists are comfortable delivering dentistry today how it was taught 25 years ago without looking at the advances in modern technology. Just look at electrosurgery and using a retraction chord. I think it takes a little bit of curiosity to search for ways to provide a treatment that is going to make it more comfortable for the patient and generate quicker and better results for the dentist.”

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p36-44 CarabashV2.indd 36

15-03-10 11:18 AM

Technology

We asked dentists: “What’s your favourite technology?” Some gave us a glimpse of the future: water-spraying dental lasers, proactive diagnostic tools, and fun / fast electric cars. Others gave us a blast from the past: arcade machines in the office and good old-fashioned digital photography. Irrespective of the technology, one theme permeated throughout our interviews — namely, that technology is a tool, meant to improve a patient’s health and lifestyle while allowing dentists to run a better practice (and perhaps have fun getting to and from the office!).

Dr. Trong-Qui Dao ARCADES, CHROMECAST & TABLETS Dr. Trong-Qui Dao uses various technologies (old and new) in his Mississauga office to enhance his patients’ overall experience. Upon entering his office, you’ll find a giant retro arcade machine in the patient lounge. Dr. Dao purchased this seemingly old technology brand new from Costco a few months ago. It boasts over 150 arcade games — including classics like Street Fighter, Double Dragon, Defender, 1942 and Golden Tee Golf. So what’s it doing there? Well, for Dr. Dao, it’s about giving patients a unique experience: “For some patients in and around my age range, they really enjoy coming to the office and playing those games. They relive their past and even introduce their kids to some famous classics. Some patients don’t mind coming in earlier or waiting longer before seeing a hygienist or dentist!” And the fun doesn’t end there. When patients ease into a dental chair, they can access that specific operatory’s Chromecast wi-fi network through their smartphone. This allows them to watch their

favourite media (e.g. Netflix, YouTube, etc.) on the big screen TVs hanging from the ceiling. All while being treated! Their smartphones become a personal remote control to browse, search, and play streaming media. This experience changes a patient’s perception of dentistry. As per Dr. Dao: “Patients no longer complain about being there. They’re being entertained and they comment how the time flies by.” Finally, when it comes to proposing treatment, Dr. Dao uses digital photography, coupled with a tablet, to help educate patients. “With a portable tablet, you can get down to the patients’ level and give them somet h i ng to se e and touch. You can expand or rotate the images of their teeth and explain what’s going on. The best part is that pictures, unlike people, don’t lie.” The whole process takes only a few minutes: it i nvolve s t a k i ng a nd wirelessly uploading pictu res from a digital camera to a computer and then onto a tablet for presenting to a patient. oralhealthgroup.com | Oral Health Office | MARCH 2015

OHO Mar15 p36-44 CarabashV2.indd 37

15-03-10 9:04 AM

ADVERTORIAL

Timothy A. Brown President/CEO ROI Corporation

Single Visit Dentistry – The Remarkable World of Chairside Restorations We’ve seen digital technology transform the dental office more in the last decade than the preceding 25 years combined. It seems only yesterday that most practices were still using film based X-rays, but given the torrid pace of digitalization, it’s hard to imagine there will be any film being used in a dental office in a few years. The transition makes sense – witness anyone using anything other than a smart phone these days to take pictures. Our company appraises hundreds of practices across Canada every year. In our unique role, we see the entire spectrum of change the dental office environment and we have a 40-year history of tracking these changes. The appraisal of a dental practice my business and also a passion for me. My team is constantly collecting empirical data and we often make predictions as to the next, most disruptive technology. We are industry leaders in assigning value to the newest technology and we are usually the very first to identify and rationally document the financial impact that new products can have on the appraised value of a dental practice. With the benefit of this experience, I conclude that one of the most significant advancements in recent memory is the underlying technology that allows for single-visit or chairside, restorative dentistry. CEREC

by Sirona® has been around for many years, but this latest version of the system is truly incredible. Not only does the system provide for digital impressions, which eliminates the most unpleasant part of the patient visit, but what really matters, is the unique combination of a scanner and milling machine that produces ceramic restorations while the patient waits. This results in a significant reduction in lab fees while saving your patients valuable time and it also opens income producing doctor/operatory time — the resultant affect is lower overheads and higher gross income. My informal study of dentists who have employed Cerec by Sirona® for several years or more prove this to be a game-changing investment. This is a paradigm shift in the making and will undoubtedly lead to self-sufficiency for the dental practice while contributing to the kind of patient experience which was previously impossible. One can already see the possibilities of greater integration with 3D imaging systems and a world of opportunities for clinical ecosystems that deliver chairside Implant and Orthodontic applications. The genius of this system results in a healthier bottom line, increased cash flow and a simple, fast and costeffective treatment for the patient while delivering superior results.

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p38-39 Patterson ADVERT.indd 38

15-03-10 1:23 PM

Get to know CEREC. The world leader in CAD/CAM doesn’t have secrets. But you may not know everything CEREC has to offer.

Did you know? • • • • •

There are more than 40,000 CEREC users worldwide. A CEREC restoration is placed every 7 seconds. CEREC is the only CAD/CAM chairside system taught in Canadian universities. CAD/CAM specialists and CEREC integrators are available to serve your team locally. Local study clubs provide CEREC best practices, tips and tricks to help users optimize the technology. • CEREC performs inlays, onlays, crowns, bridges up to 40 millimeters, abutment block and can fully integrate with cone beam. • ROI is significantly faster than commonly thought. • You can purchase a complete CEREC system for as little as $64,995.

Don’t just take our word for it. Before you make an investment like CEREC, ask for a demonstration. You’ll see why CEREC is the most popular system in Canada, and the world.

WANT TO KNOW MORE? Visit cerecacceptcanada.ca or contact your Patterson representative and find out how you can get an expense-paid trip for a two-day, hands-on CEREC ACCEPT training session in Scottsdale, Arizona!

OHO Mar15 p38-39 Patterson ADVERT.indd 39

15-03-10 9:26 AM

Dr. Ron Goodlin DIGITAL PHOTOGRAPHY Dr. Ron Goodlin maintains that digital photography has impacted his dental career more than any other technology: “Digital photography has allowed me to educate patients and other dental professionals, enhance t r e at m e nt a c c e p t a n c e , reduce personal liability, market results, and improve my skill set.” At his Aurora office, Dr. Goodlin’s team members take a standard set of dental photographs for all new patients. “It’s simple to do, becoming more prevalent, and a definite must when it comes to record-keeping.” Dr. Goodlin recalls getting his first camera when he was 15 years old: “It’s a bit of a sad story. It was a gift from my mother, meant to cheer me up after learning that my father was diagnosed with cancer. We moved from our big beautiful house to a tiny apartment. As soon as I got the camera, I read the manual and took pictures from the balcony. When I developed the photos and saw those cool coloured streaks, I was hooked.” Over the years, Dr. G ood li n honed h is skills, working part time as a staff photographer at U of T’s Faculty of Dentistry to help pay for his e du c at io n . A f t e r w r it i ng t he f i rst

textbook on dental photography, he went on to become a leading expert in the field. He owned and operated a medical/dental photography business, got involved in studio and fashion photography, and most recently started to become an accomplished nature and wildlife photographer. He admits getting up close and personal with wildlife is an adrenaline rush. Apparently, there have been some close calls. For example, his small boat was almost overturned by an angry hippo in Lake Manza (located in the Seleous National Park in Tanzania). He came face to face with a hungry-looking lioness when his jeep got stuck on a big rock in the Serengeti (“It could have been game over real easily”, he admits). He recalls being stuck in a river and waiting for help, praying that the crocodiles wouldn’t be the first to come to his aid. And then there was that recent incident with a huge matriarchal elephant in the Serengeti. As Dr. Goodlin recalls: “When she pinned her ears back, I knew it was trouble. When she suddenly charged towards our jeep, I ducked down and prayed she wouldn’t flip us over. Thankfully, she stopped just short of our jeep and let out a terrifying and deafening trumpet. She then circled the jeep a few times before joining the rest of the herd. As the herd walked by, one of the baby elephants flung some mud at us. It was a close call. I often look back and laugh about it!” While Dr. Goodlin uses a high resolution Nikon full frame digital camera and has a variety of high-end lenses in the field, he doesn’t suggest that dentists go out and buy the latest and most expensive digital camera for their office. He recommends a good digital SLR back, with a 100 mm macro lens (for taking up-close photos) and an end-mounted ring light. Nowadays, he says, there are many excellent choices with point and shoot cameras that allow dentists to produce high quality close up images. “It doesn’t really matter what you buy — as long as you use it!”

©boskidamian//iStockphoto/Thinkstock

40 Technology

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p36-44 CarabashV2.indd 40

15-03-10 9:08 AM

Technology

©Kerstin Barenbrock, Nerthuz/iStockphoto/Thinkstock

©boskidamian//iStockphoto/Thinkstock

Dr. Hans Viergiver TESLA ELECTRIC CARS In late 2012, Hamilton dentist Dr. Hans Viergever was reading up on energy issues when he stumbled across a relatively unknown California car company called TESLA Motors (“TESLA”). TESLA was headed up by Elon Musk, a serial entrepreneur who had co-founded PayPal (a popular online payment and money transfer system), SpaceX (a company which develops and launches rockets and spacecraft, including sending supplies for NASA to the International Space Station), and SolarCity (a company which develops and installs solar energy systems for residential, commercial, and military use). Musk’s mission with TESLA was to create 100 percent electric cars with unparalleled range and performance. As Dr. Viergever read more about TESLA, he not only became impressed, but obsessed. He initially talked to me about the TESLA Roadster, a retrofitted Lotus Elipse electric supercar that could go 0-100 kph in 3.7 seconds and travel 320 km per charge (note: only 2,300 of these supercars were sold between 2008 and 2012). But then he started raving about the newer TESLA Model S, a full-sized 4 door luxury sedan that seated up to 7 passengers and which could go 0-100 kph in 5.4 second and travel over 400 km per charge (note: the latest dual motor all wheel drive version of the Model S boasts 691 hp when “insane mode” is selected and rivals a McLaren F1 in initial acceleration). Inside, there is a unique 17-inch iPad-like centre screen that controls virtually everything within the car. Maintenance is minimal when compared to a combustion engine car and the Model S can be refreshed through over-the-air software updates and hardware upgrades at TESLA service centres. Model S will soon come standard with “autopilot”, which combines a forward looking camera, radar and 360 degree sonar sensors to automatically drive Model S on the open road or in traffic, change lanes and even park itself. “I went for a test drive at Yorkdale Mall one day,” Dr. Viergever told me. “The instant acceleration, minimized carbon footprint and

exceptional performance of the car were life changing. The technology is very impressive and the car is very driver-friendly.” Soon after he sold his practice in early 2013, Dr. Viergever called me to say that he had finally taken the plunge. “I bought TESLA”, he exclaimed over the phone. “Really? Amazing! How do you like driving it?” I asked. “No, no…”, he chuckled, “I bought

the stock!” At that time, TESLA was still relatively unknown and its shares were trading in the mid-$30s. But over the next few months, the company gained notoriety and a cult-like following among owners as the Model S won the highest rating (99/100) from Consumer Reports (it was later named best overall vehicle that year), won awards from various car magazines, and achieved the highest safety ratings possible. TESLA also rapidly introduced a network of free superchargers (to recharge Model S in about an hour’s time) to alleviate range concerns. The stock skyrocketed in 2013 and 2014, peaking at just over $290 a share in September 2014. When asked if he was actually going to purchase a Model S, Dr. Viergever responded that he’s waiting to test drive the Model X — a crossover SUV that seats seven passengers, is equipped with nifty Falcon Wing doors, and is due to come out in 2016. “Every dentist owes it to themselves and the environment to test drive a TESLA and develop the unique TESLA SMILE that EVERY test driver experiences.” oralhealthgroup.com | Oral Health Office | MARCH 2015

OHO Mar15 p36-44 CarabashV2.indd 41

15-03-10 9:08 AM

ADVERTORIAL

Employee issues keeping you awake? Ask most dentists what their number one concern is, and they will say that it is staff. The human resources landscape in dentistry has radically changed in the last two decades. Decades ago, you arranged matters with employees on a handshake. You were exposed to a minimal risk of lawsuits at the hands of your staff. As an employer, you encountered little regulatory burden. You could virtually ignore employment law with impunity and you were statistically unlikely to suffer as a result. Moreover, you could continue in such blissful inattention to employment law until you sold your practice, when you were likely to secure a buyer who would happily agree to hire all of your staff “on the same terms”, thereby taking over all of your contingent liabilities and relieving you of same. But no longer! Today, proper management of employment law issues is absolutely essential and is ignored at your peril. INCREASED LITIGIOUSNESS Historically, Canadian society had a relatively low level of litigation. A recent study shows that over 40% of companies had been sued the prior year alone. And employment law issues were the single, biggest concern for the companies. Why the increase in litigiousness? 1. Contingency-fee arrangements, whereby a client pays no fees to her lawyer unless and until she recovers from the defendant. An employee can therefore initiate a lawsuit even if she cannot afford to pay her lawyer a retainer. 2. The proliferation of information on the internet has made employees much more “system savvy,” with the result that many employees game the system. 3. Class action lawsuits have further increased

the level of litigation in Canadian society, allowing claimants with relatively small claims to combine them and therefore make it economically feasible to pursue what would otherwise likely be abandoned. What is the result: more litigation. SALE OF PRACTICE Because practice purchasers are also more aware of the perils of not having proper employment law protections in place, employment law issues have become a significant part of a prospective purchaser’s evaluation of a practice. Advice to Buyers: The total price of a practice is not fixed at closing, but must also include the amounts the buyer will spend in the 18-36 months post-closing to clean up the vendor’s employment-law problems. This can sometimes add six figures to the purchase price. Get expert employment law advice before you sign anything to learn how you can reduce that cost to a negligible amount. Advice to sellers: Get expert employment-law advice today! Ideally, getting your employment law affairs in order should be one of the very first steps you take when thinking about selling your practice. To ensure it is perfectly in place when needed, contact an employment law expert 4 to 5 years before you list your practice for sale. If that window has already passed for you, it may be less than ideal but you can still benefit greatly by acting now. Proper handling of the employment law issues can make the pie significantly bigger – both for the seller and purchaser!

MBC Clients Sleep Well at Night! Gone is the world in which a practice can afford to ignore employment law issues. But with good advice, and proper employment contracts and policies, you can, like MBC’s clients, sleep well at night!

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p42-43 MBCLegal ADVERT.indd 42

15-03-10 1:10 PM

OHO Mar15 p42-43 MBCLegal ADVERT.indd 43

15-03-10 9:17 AM

44 Technology

Dr. Stephen Abrams & Dr. Marc Lamarre PROACTIVE DIAGNOSTIC TOOLS

Michael Carabash is an Ontario dental lawyer with his own law firm, DMC Law. 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. Karen Ergus is a forthcoming articling student with DMC Law. She can be reached at karen@dentistlawyers.ca.

Proactively monitoring and treating patients before things get worse. Is this where dentistry is heading? Dr. Stephen Abrams and Dr. Marc Lamarre certainly believe so. After practicing for over 30 years, Toronto dentist Dr. Stephen Abrams invented a non-invasive laser based device to help detect and monitor early tooth decay (otherwise undetectable by visual inspection or an x-ray). He calls it the Canary System. It works by shining a laser on a tooth’s surface. When the laser is turned off, the tooth’s surface emits l ig ht a nd he at . D efe c tive enamel affects the retained heat and light signatures. This gives a dentist insight into whether a tooth is fractured or broken, if something needs to be monitored, and if re-mineralization has succeeded. The laser is very precise and can reveal lesions as small as 50 microns up to 5 mm below a tooth’s surface. It can even monitor changes in enamel in response to re-mineral-

ization and preventative treatments. Images of a tooth’s surface can also be displayed on an interactive monitor for immediate chairside viewing with a patient. While the Canary System seems promising for hard tissue, Dr. Marc Lamarre has invented a system to monitor soft issue. He calls it the Cumulus System. Set to hit the market in 2015-2016, Cumulus will feature a digital probe module that can measure periodontal pocket depths and the gingival temperature (to indicate inflammation). This will be combined with a voice-activated, 3D, fully interactive dental charting system that includes cloud-based storage. Dr. Lamarre came up with the idea behind Cu mulus af ter Hurricane Ivan devastated t he Cay ma n Islands and dest royed all paper records, x-rays, and computers. He realized the fragility of records and has been working to create a records disaster recovery system. For dentists, the benefits of using the Canary and Cumulus systems include: improving patient education and case acceptance, monitoring and diagnosing hard and soft tissue deficiencies, and providing early and less invasive treatment.

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p36-44 CarabashV2.indd 44

15-03-10 9:16 AM

oralhealth

OFFICE guidelines

manuscript submission Oral Health Office wants to hear from you! We are actively seeking original article submissions from all our valued readers. Here’s what we need from you:

MANUSCRIPTS Manuscripts should run between 1,000 to 5,000 words; any manuscripts submitted on disc or flashdrive should be PC compatible (i.e., Micro soft Word). Should you have concerns with the compatibility between your word software and that of Oral Health Office’s, simply save your file as raw text (i.e., Text only files, ASCII text files, etc.)

AUTHORS Biographical information regarding the author(s) should be included with the manuscript. The author’s name and degrees, as well as any association the author may have with any institution should be included. The author’s address, including city and province/state should also be included. These requests for standardized submission of material are necessary for correctness of publication. The editor looks forward to your submission. Please mail or email original manuscripts to: ORAL HEALTH OFFICE, 80 Valleybrook Drive, Toronto, ON M3B 2S9 cwilson@oralhealthgroup.ca

ILLUSTRATIONS The quality of the line drawings and photo graphs supplied contribute directly to the quality of reproduction in Oral Health Office. Therefore, when making a submission, please consider the following:

> All photographs/illustrations should be carefully indexed and marked as to proper viewing (i.e., slides should be marked which side is the appropriate viewing angle, etc.). X-rays should be mounted individually and marked on the front of the frame with the corresponding figure number.

> A ny artwork submitted on disc should be

MAC compatible, and should be saved at the highest resolution possible (266 pixels per inch or greater). We cannot accept any digitized photographs/illustrations that have been created in a word processing, spread sheet or presentation package such as Microsoft Office or Powerpoint.

> Do not embed photos within the article. > The editor reserves the right to not return photos that do not meet quality standards.

> Each illustration provided by the author should

be identified and described by a short caption; and this list of figures should follow at the end of the article.

NEWCOM BUSINESS MEDIA INC. (416) 510-6785 E-MAIL:

cwilson@oralhealthgroup.com FAX

(416) 510-5140 TOLL FREE:

Canada 1-800-268-7742 U.S.A. 1-800-387-0273

oralhealthgroup.com | Oral Health Office | MARCH 2015

OHO Mar15 p45 House AD.indd 45

15-03-10 9:19 AM

46 Business Management

AN EXCERPT FROM MARK MCNULTY’S NEW BOOK

The $6 Million Dentist How am I doing compared to my colleagues?

can honestly say that some of the greatest financial minds I know are those of dentists. These dentists didn’t start out this way. In fact, they made a lot of mistakes. But they learned from those mistakes and went on to become what you and I would consider great financial success stories. This group has a great deal to teach us about what works and what doesn’t. In fact, they don’t just have a lot to teach us — they want to teach us. That’s why I wrote this book. You see, dentists don’t talk to each other about their finances. They may hint sometimes at their successes, but they rarely mention the financial mistakes they’ve made. This means dentists miss out on

the opportunity to learn from one another. That’s too bad, because learning from someone else’s mistakes can be far less costly than learning from your own. I have had the benefit of learning from a financially savvy group of dentists during the past twenty years. I have also learned from dentists who did not achieve a high level of financial success. These experiences have had a great impact on my life, my business, and the families I work with at McNulty Group. My goal in writing this book is to share these experiences with you. I want to help you understand how we structured our clients’ lives so they could best achieve financial success and a sustainable retirement. I also want to provide a venue for this elite

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p46-49 McNulty.indd 46

15-03-10 9:22 AM

Business Management

group of dentists to share their experiences, in the hope their input will improve your life, your practice, and the lives of those around you.

MODULE ONE Why Is A $6 Million Portfolio So Impressive?

Baby Boomer dentists are selling their practices and retiring. I know this because our firm, McNulty Group, works with many of them. We manage more than one quarter billion dollars in retirement savings for 85 professional families. One chance to Sell. Once chance to Retire. One chance to Get it Right. This guide is about your colleagues who did it right. The McNulty team and I went through thirty years of files our firm has on the finances of individual Canadian dentists. We found two interesting results. First, only nine of the dentists we have ever met have achieved in excess of a $6,000,000 portfolio. Secondly, we estimate that over 70 percent of the dentists practicing today will likely not achieve their financial goals. What is also clear is that even for those dentists who are wealthy, thinking about retirement can be uncomfortable. They worry about giving up control over their income. Many also fear they will one day run out of money. This discomfort is due to the fact that planning for retirement is more complicated than people think. It’s part art, part science. The art of retirement planning is ensuring you have enough money to spend on what you want now, while saving enough money for what you will need in the future. The science of it is managing a long-term plan, amidst many unknowns, that ensures the money will last for the rest of your life. Retirement planning isn’t an easy thing to do on your own because there are many

factors to consider. For example, most people are going to have to fund their retirement for a long period of time, and minor variances in assumptions can have a major impact. The unknowns that can make or break your retirement: • H ow much will inflation erode your retirement savings? • How will interest rates affect your retirement savings? • How much of your savings will be eroded by income tax in retirement? • W ill we have another stock market decline like we had in 2008? • How long will you live? • How much will you need to spend every year of your life? • How much will your health care cost?

FROM ZERO TO $6 MILLION IN SEVEN MODULES

Another factor that adds to the equation is that, as a dentist, you have greater complexity when it comes to planning for your family’s financial security. In addition to your job of practicing dentistry, you also have to contend with the following: • Managing your practice • Selling your practice • Complicated cash flow • Complicated tax planning • No pension plan It’s no wonder the solution for many dentists is to put off their transition planning and continue to practice beyond their desired retirement date. As I’ve already mentioned, over 70 percent of the dentists practicing today will likely not achieve their financial goals. This is important because I don’t know a single person who wants to spend less money when they reach retirement. The average dentist I know spends $150,000 per year after-tax ($12,500 per month) in retirement. This means if you want to retire by age 62, you’ll need $3.8 million in savings. Most dentists don’t reach this target. Having said that, you’re oralhealthgroup.com | Oral Health Office | MARCH 2015

OHO Mar15 p46-49 McNulty.indd 47

15-03-10 9:23 AM

48 Business Management

probably beginning to understand why having a $6 million portfolio is impressive. My average client retires at age 62 w ith $3.8 m illion in the bank — which is richer than most dentists. But the $6 million dentist has 58 percent more than our average client. Again, an ex tremely impressive accomplishment. The number one thing dentists with $6 million portfolios do more often than the average dentist is: earn more money and spend less. But there are some other things these folks do and you can learn from them…

WHAT WE CAN LEARN FROM THE $6 MILLION DENTISTS:

One philosophy Wealthy dentists have their own philosophy when it comes to financial management and they don’t waver. In other words, if they’re investors in stocks they stay with the stocks. They don’t sell out or panic like many investors do. They consistently follow a “buy and buy more” investment strategy, which means they don’t give in to fear and sell when markets are down— they buy more. Hard-working None of the wealthy dentists I’m referring to have solo practices; almost all have associates. And no, this doesn’t stop them, as the primary producers, from working longer than average hours. Research financial planning Most dentists know very little about financial planning, but the wealthy ones do. Financial planning encompasses cash flow management, practice management, income taxes, investing, insurance, etc. While wealthy dentists start out like everyone else, without much knowledge in these areas, I can tell you from experience that they do lots of reading on the topic and ask lots of questions. In fact, they’re never

reluctant to ask any question, no matter how trivial it may seem. Spend less than they make (don’t drive fancy cars) While this may be obvious, the fact is that wealthy dentists don’t have extravagant lifestyles. They pay themselves a smaller than average income and have automatic savings set up for all other cash flows. They’re also very aware of their savings. They can usually tell you off the top of their heads how much they’ve saved year-to-date. Good BS detectors For the most part, wealthy dentists have avoided bad financial products and poor investment decisions. I suspect this is because it is difficult to gain their trust—and I consider it a privilege when I do gain it. In addition, because they’re well-informed, they jump on good advice when they receive it and they don’t waver.

WHAT YOU’LL LEARN FROM THIS GUIDE

For the purposes of this guide, we’ll look at the various aspects of success as it pertains to those dentists who are approaching retirement with sizeable savings. Here’s an overview of the topics we’ll cover:

Module One:

The 6 million Dentist In this module, you are given a bird’s eye view of the modules ahead.

Module Two:

Dentists with $3.5 million portfolios In this module, we’ll cover what dentists with $3.5 million portfolios do—and what those dentists who fail to reach this level of financial success don’t do. Those with $3.5 million portfolios have saved more than 95% of dentists, so it’s something to shoot for.

Module Three:

How much money do you need to retire? In this module, we’ll look at various factors that can affect how much money

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p46-49 McNulty.indd 48

15-03-10 11:20 AM

Business Management

you’ll need to retire, as well as consider possible accounts to use for raising any savings needed.

you avoid a large tax bill in the future, as well as Old Age Security clawbacks.

Module Four:

Investing to fund your retirement cash flow In this module, we’ll explore how to create retirement income from your savings. Rest assured that you have many alternatives to choose from. Dentists often think that once they retire, they have a short-term time horizon because they’re drawing on the money to fund their lifestyle. Not so. You’ll be funding your retirement lifestyle for decades to come and we’ll look at using your practice and personal resources to create a pension that will last.

How much is your practice worth? In this module, we’ll look at your most valuable asset and best investment. For most dentists, their practice is the cornerstone of their retirement savings so we’ll go over the various things you’ll need to consider before the sale. I n fact, valuing your practice is an important part of your transition process and we’ll touch on this process here, too.

Module Five:

The lifetime tax bill In this module, we’ll explore how to get the most out of your government pensions, corporations and RRSPs after-tax. This is the area where the greatest opportunity exists to add more money to your retirement, yet it’s generally a poorly managed area. You must create a long-term exit strategy from your various taxable accounts i.e. the money in corporations, RRSPs, etc. Done properly, this will ensure

Module Six:

Module Seven:

Meet the million dollar dentists I n this final module, we’ll wrap up the guide by introducing you to some dentists who have $6 million portfolios and $3.5 million portfolios. I think you’ll appreciate hearing what these folks have to say about transition planning and retirement.

Mark McNulty is President of McNulty Group. McNulty Group helps professional families transition from a life of successful practice to a stress-free retirement by using a holistic approach of practice and personal retirement planning. Mark is the author of The $6 Million Dentist, The Transition Coach 2.0–A Canadian Dentist’s Guide to a Perfect Retirement. Mark can be reached at mark@mcnultygroup.ca

oralhealthgroup.com A D V E R T I S E R ’ S

I N D E X

ABELdent. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .32-33

McNulty Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34-35

A-Dec. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28-29

Mindware Educational Seminars. . . . . . . . . . . . . . . . . . . . 44

Cappellacci DaRoza LLP. . . . . . . . . . . . . . . . . . . . . . . . . . . 9

NSK Dental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20-21

ConfirmByEmail. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50-51 Crest Oral-B, P&G. . . . . . . . . . . . . . . . . . . . . . . . . . . . . IFC Dentsply Canada. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-7

Patterson Dental Canada. . . . . . . . . . . . . . . . . . . . . . 38-39 Pelton &C rane . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14-15

Henry Schein. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56-57

Philips Oral Healthcare . . . . . . . . . . . . . . . . . . . . . . 13, IBC

Maxim Software. . . . . . . . . . . . . . . . . . . . . . . . . . . . 22-23

TD Canada Trust . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

MBC Legal. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42-43

VOCO Canada . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OBC oralhealthgroup.com | Oral Health Office | MARCH 2015

OHO Mar15 p46-49 McNulty.indd 49

15-03-10 9:24 AM

ADVERTORIAL

UP IN YOUR BUSINESS

It's All About Patient Recall Improve Care and Increase Revenue How are you ensuring your patients are scheduled for their regular appointments? Is your recall scheduling procedure lacking? Is staff completely confused about who they should be scheduling for exams and cleanings? You and your office are not the only ones to battle with scheduling recalls. Why is it so important that you take responsibility for your patient's appointment scheduling? Because they don't. Not many patients give attention to the details of their oral health. For most people it's a break-fix service. It's not until they are having problems that they'll come calling. Improve Patient Care We know that regular checkups and cleanings are essential to good overall health. Your patients look to you for advice, including when they should be coming to see you. I'm sure you hear again and again, patients saying “I can't even remember the last time I was at the dentist.” Every appointment is important to your patient. Quickly Increase Revenue Scheduling recall appointments not only helps your patients, it also benefits you. It costs 6 to 7 times more to obtain a new patient compared to keeping an existing one. Not only will you instantly increase your overall revenue with recall appointments, but you'll also avoid monthly income swings. For an established practice, there is no easier way to increase revenue. Take the time today to create a recall reminder procedure. For best results be sure to keep it simple. Complicated steps quickly become abandoned by staff. Your procedure must be intuitive and easily taught to new staff members.

3 Rules To Referrals Referrals are a fantastic way to increase your business. All of your patients have a network of friends and family. It's very common for practices to overlook referrals as a viable source of new patients. Don't be one of them. Take full advantage of existing happy patients to grow your practice.

Simple Effective Procedures When designing your procedure you should incorporate multiple reminders. It's not uncommon to see patients respond to a second or third reminder. Also consider multiple methods of communication, such as email and phone calls. Not all patients like to be contacted the same way. It is important to track the recall reminders sent to your patients. This allows you to make adjustments assuring you're obtaining the best results. Make procedures even easier with a service like ConfirmByEmail. This service can: • send reminders by email • alert your staff of who to call • track all communication It takes the stress and complexity out of the recall reminder process. By taking control of your recall reminders you'll see your appointment openings disappear within days. Recall reminders may not be as interesting as the latest gadget to detect caries or implant hardware, but they'll make your practice run smoother than ever before.

• Advanced Recall Reminders www.ConfirmByEmail.com 1-888-817-3044

• • • •

2-way Text Messaging Automated Appointment Reminders Patient Reviews and Surveys Increase Revenue With One Call

The first rule of referrals is to ask! You'll be very surprised how many patients will refer you if you just ask. The second rule is to acknowledge and thank your patient for any referral they send you. You may even want to reward them with free movie tickets or a gift certificate to Tim Horton's. The last rule is to ask again. A patient that has already referred a friend is likely to refer another. So continue to ask. Give your patients instructions on how to send you referrals. Making the process easy is essential. You may also want to consider a service like ConfirmByEmail which can automatically ask for the referral. You and your staff may be very busy, but make asking a priority and you'll see results very quickly.

www.ConfirmByEmail.com 1-888-817-3044

• 100% Canadian • Risk-free Guarantee

• Save Up To 66%

MARCH 2015 | Oral Health Office | oralhealthgroup.com

ad right size OHO Mar15 p50-51 ConfirmbyE ADVERT.indd 50

15-03-10 9:46 AM

nd y

ad right size copy.indd 1

15-03-04 2:28 PM

OHO Mar15 p50-51 ConfirmbyE ADVERT.indd 51

15-03-10 9:46 AM

52 Business Management

GREAT ADVICE FOR ALREADY SUCCESSFUL PRACTICES

Truly intriguing…!

While many dental practices across Ontario have experienced a steady decline in new patient growth and production over

the last several years, interestingly enough, other dental practices in the very same region and in the very same economy have steadily continued to grow.

Why the difference?

Is it luck? The most common acronym for L.U.C.K. is Labor Under Correct Knowledge. Why? Is it the location? Is it unique? Many dentists who are actually reading this article will surely remember the anecdotal remarks of some of the leading speaker dentists in North America making a point that they actually came from a rural town.

he success of a dental office cannot be judged like the success of a sports team. In the world of sports, winning a Stanley Cup or Super Bowl once every five years or so, may be something a city cheers about. However, running a successful dental practice requires a ‘Championship’ win yearly.

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p52-55 Slater.indd 52

15-03-10 9:47 AM

Business Management

I have seen dental practices for which everything seems to click. There are no bumps and patients accept recommended treatment. The team is happy and actually stays longer than five years. And, the dentists love what they do! The fact is, there is no such thing as “luck” in dentistry… only hard work with the proper resources. What’s the ‘sure-fire secret’ to a successful dental practice? An outside objective team member that truly holds everyone accountable on a weekly and monthly basis can help unlock the principles behind this ‘secret.’ Think about it, there is no owner of any sports team that is also the teams’ coach. Many owner dentists cannot differentiate between their priorities as an owner and those of being an active member of the functioning team. They are not the same. It can be challenging for an owner dentist to cultivate and nurture the ongoing experience that is necessary to create a team that is motivated to a common culture of excellence. And herein lies the greatest challenge for successful practices to deal with. Dentistry is all about team and the current and certainly the future model of dentistry involves working with a coach on a regular basis irrelevant of problems that need to be fixed! There was a time when hiring a hygienist was deemed not necessary, possibly a luxury. Can you imagine practicing without your hygienist(s), assistant(s) today? Of course not. . . Many practices are good, few are great, and even fewer are EXTRAORDINARY. When something is poor there is more urgency to improve than when something is already good. Constant and never- ending improvement, is a principle that is routinely associated with EXTRAORDINARY practices. The challenge is, the acronym ‘Can I’ accomplish this! It only takes one team member to unravel a patient’s experience. Some dentists overspend on external marketing and forgo the greater investment of internal marketing. Focusing on the growth of your team’s culture is the secret to achieving much greater results when attempting to create

‘WOW’ experiences for your patients. The byproduct of consistent ‘WOW’ experiences is often increased production. If your focus is strictly to increase production, unfortunately, you will most likely be disappointed. The opportunity to create a ‘WOW’ experience for your patients — an extraordinary event or exposure to your practice, starts with your lifeline, also known as the telephone. It certainly continues from the moment patients walk into your practice, to the moment they walk out. That being said, one cannot “give WOW” if they are not first “BEING WOW” themselves. It is the culture of the team that creates ‘WOW’. Either it is ‘on’ or it is ‘off’. You can’t be a little bit pregnant. A team’s united and congruent belief system about what “WOW!” looks like is the key to unlocking your practice’s ability to soar and ultimately transform patients into the kind of people Ken Blanchard famously called, “Raving Fans.” The patients who love what you do for them so much that they sing your praises everywhere they go!

Social media has lent a whole new level to patients’ expectations and knowledge of what dentistry should ‘look and feel’ like Social media has lent a whole new level to patients’ expectations and knowledge of what dentistry should look and feel like in 2015. For example, patients are exposed to other dental offices’ ‘YouTube’ videos, Facebook page, RateMDS reviews, Google reviews, websites etc… What does your social media presence look like? Patients’ perception of outstanding dentistry has rocketed to a whole new model of delivering and providing care. Many dentists today are still intimidated, as is their team, to provide a full and comprehensive treatment plan for fear that they will appear pushy or aggressive to oralhealthgroup.com | Oral Health Office | MARCH 2015

OHO Mar15 p52-55 Slater.indd 53

15-03-10 9:48 AM

54 Business Management

their patients. There is a clear distinction between ‘offering’ a comprehensive treatment plan and ‘pushing’ one. It is no longer just ‘fillings and cleanings’. Dentists no longer deal with only primary care. Treatment plans today encompass a wide range of elective choices that only the patient can truly decide with informed consent if it is in their best interest. It is nearly common place for a dentist to be told that their patient’s ‘diagnosis’ has already been ‘prejudiced’ by Google. To make treatment plans and their presentations even more complicated, is the reality that most patients who see a new dentist bring to the table a host of prior experiences from their prior dental experiences. Merely projecting an image that “our office is friendly” doesn’t cut it anymore. This has become expected and the new normal. A critical question to ask yourself is whether you are truly exceeding patient’s expectations?

“Nobody cares how much you know, until they know how much you care” — Theodore Roosevelt Why are expectations so important? Consider that most disappointments are a result of expectations not being met. Most people get upset when their personal rules are broken. ‘Upsets’ are when someone does something that doesn’t agree with the expectations about how others ‘should’ treat them. It is often quite easy to make someone happy if you know what they truly expect and want. The problem is most offices never ask the patient! They just guess what they think patients will want (or be able to afford) and hope to make them happy. Unfortunately, guessing will often lead to guessing wrong! Below are some ideas that a practice can implement to create a tighter connection with patients and truly understand ‘what do they want and how do they want it’?

Then, completely surpass their patient’s expectations. 1. Have the dentist call new patients prior to their first appointment. Can you imagine how impressed a new patient would feel to receive a call from the dentist? All it takes is saying, sincerely, that you are looking forward to meeting them and inquiring if they have any concerns. 2. S cheduled ‘new patient interviews’ beyond their medical history. A sample question of a new patient interview would be, “What’s most important to you when it comes to your relationship with your dentist? With your hygienist? With an admin team?” 3. Ask questions with the intent to understand. Patients need to know you care. Loyal and respectful relationships have a foundation of trust. This begins with the dentist and team sincerely wanting to know their patients better. “Nobody cares how much you know, until they know how much you care” — Theodore Roosevelt. 4. R elay information about the patient to other team members in front of the patient (Rather than whispering in the operatory behind them or in the hallway like it’s a top secret mission). Patients appreciate the fact that they were heard and will feel like they are part of the solution for the recommended treatment if there is a ‘triangle’ conversation prior to the clinical exam. 5. B e on time, or apologize for running ten to fifteen minutes late with a coffee card.

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p52-55 Slater.indd 54

15-03-10 9:48 AM

©Thinkstock

Business Management

6. Address the five senses. Now this principle has been stated beyond numerous times in numerous other articles, yet, so many practices still ignore or have forgotten their importance! smell: How does the office smell when patients arrive? With the patients’ approval, apply a couple of drops of aromatherapy oil on a bib or on your glove to reduce patients’ anxiety. Have a ‘no perfume/cologne’ policy for your team. sight: H ave YOUR ‘before and after’ photos as a screen saver on all the monitors in the operatories and on the TV in the reception area. Provide ‘comfortable’ tinted eyewear for all appointments. Not all ‘eyewear’ is ‘comfortable’ when laying back in a dental chair. sound: W hat do patients hear? Conversations or soothing music? Laughter or arguments? Or even worse, do they hear ‘tension’? Trust me, patients are very aware! touch: G ratitude and warmth are felt the moment a patient walks in. Have the patient coordinator actually get up and walk around the desk to extend a hand, truly welcoming the patient to the practice. Have fun creating a branding strategy with your team to deliver greater value than the patient expects when they arrive or leave for their appointments.

taste: Provide

a choice of mouthwash flavors at the beginning of every appointment and also at the end of every appointment. We all know that the team’s goal, is to always be on time. We all know, this isn’t always possible. Having a beverage/fruit center with specialty coffees/assortment of teas/bottled water/juices/assorted whole fruit basket while a patient waits makes waiting easier. The small gesture of having an admin team member actually offer to ‘make that coffee or get that bottled water’ makes the overall experience for the patient that much better. It’s all about adding layers to what is already present in your office! 7. Make sure everyone on the team knows your patients. As the famous sitcom “Cheers” theme song states, people like to go where “everybody knows your name.” Conduct your daily morning huddle in front of a computer and bring up patient profile photos if necessary to help make this a reality. “Where does ‘extraordinary’ come from? Often, it comes from passionate people who are obsessed with creating a consistent five-star ‘WOW’ experience for their patients and most importantly for their co-workers. And of course, ‘extraordinary’ comes from having a COACH be your personal ‘Raving Fan’ inspiring and cheering you on every step of the way!

Laurie Slater, Personal Dental Team Coach, CEO Fortune Practice Management of Ontario. To contact Laurie, call 647-223-3678 email: laurie@ fortunecoach.ca or visit www.fortunecoach.ca

oralhealthgroup.com | Oral Health Office | MARCH 2015

OHO Mar15 p52-55 Slater.indd 55

15-03-10 10:05 AM

ADVERTORIAL

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p56-57 HenrySchein ADVERT.indd 56

15-03-10 10:06 AM

PROBLEM SOLVED.

Running a successful practice can feel overwhelming. You have a lot to worry about — providing the best patient care, increasing team productivity, while looking for every way to improve your business. Dentrix has the answers. Our business tools solve real business problems so you can run a more profitable practice.

Dentrix.com/Solved

Power Practice Premier Dental Practice Management Software FOCUS ON WHAT’S IMPORTANT

WORKS THE WAY YOU WORK

Provide better Patient Care

Customizable to your Practice

INCREASE YOUR EARNINGS

INTUITIVE PRACTICE MANAGEMENT

Improve your Bottom Line

Easy to use

1.888.808.6223 info@powerpractice.ca

OHO Mar15 p56-57 HenrySchein ADVERT.indd 57

15-03-10 10:07 AM

Dental Marketplace

Contact: Karen Shaw • tel: 416-510-6770 • fax: 416-510-5140 • e-mail: kshaw@oralhealthgroup.com Toll free: CDA 1-800-268-7742 ext 6770 • Toll free: USA 1-800-387-0273 ext. 6770

PROFESSIONAL SERVICES

PRACTICES & OFFICES

LABRADOR CITY, NL OFFICE FOR SALE

Establishing, buying or selling a practice Partnership, shareholder and cost-sharing arrangements Associate, consultant and employment agreements Professional incorporations

PRACTICES & OFFICES

REGINA, SK

Large General Practice. Recently updated Adec equipment, digital x-rays, sterilization equipment. Strong Hygiene Program. Gross 2.2 M, open 4.5 days a week. Loyal patient base, great location with lots of new development in the area. Lots of growth potential. Contact saskpractice@gmail.com

VANCOUVER, BC

Busy Practice in Vancouver. Excellent gross. Low overhead. Well established patient base with strong new patient flow. 3 fully equipped ops and 1 more plumbed & ready to go. Digital radiography, Panorex, Biolase laser, Digital scanner, state of the art sterilization center and laboratory. Potential for growth is outstanding. Contact: VancouverDentalForSale@gmail.com

WATERLOO, ON

Fully equipped modern dental office to lease or buy in a beautiful commercial plaza. Ample parking, digital xrays, Adec chairs. Perfect for dental GP or specialist. For more information please call 519-570-1001 or email highland.dental@rogers.com

EDMONTON, AB PRACTICE FOR SALE

5 op practice with low overhead and good potential for growth in Edmonton for sale. For details email: designdental13@gmail.com

ONTARIO Looking for a dental office in Ontario. Will cover appraisal fees. DMDdentistcanada@gmail.com Confidentiality guaranteed.

TORONTO, ON

Fully equipped dental office, Toronto east end. In an established storefront location (over 40 years). On the Danforth, just steps to a subway stop. Available to rent, current dentist set to retire. Email to inquire: dental-practice@outlook.com

BARRIE, ON

Available new retail space on busy Mapleview Dr. West. Ideal for Professional Dental Office. Attractive lease rates. Surrounded by residential. National brands in plaza. Contact Michael Pearlman at (416) 567-5101 or pearlmanmichael@gmail.com

YONGE & SHEPPARD — GTA

3rd floor, fully set up digital practice with no patient records in highly successful location. $75,000.00 E-mail: andyc@coradixgta.com must sell on April 1st.

WATERLOO, ON

Orthodontic specialty office for sale. 9 years established in Waterloo. Great for new grad or existing orthodontist to add as satellite office. Or convert to dental clinic with orthodontist as associate. Call for further details: 778-985-6507

Looking for someone dedicated to his career who wants to have not only above-average income but the desire to become the best dentist they can be. Must have a great personality and be highly driven. Busy practice with 3 fully-equipped operatories, digital radiography, state-of-the-art sterilization centre and laboratory, potential of growth is outstanding. Practice is owned by a Pediatric dentist & Orthodontist who desires to keep providing Pedo and Ortho care to the population on a part-time basis. Reason for sale: The office was built to provide only Pedo and Ortho care (part-time) but the need for a General dentist is screaming in the area. Contact our office manager: Tonyamugford2015@gmail.com

YONGE AND STEELES — TORONTO, ON

Only Orthodontist, Endodontist, Periodontist, Oral Surgeon, Prosthodontist. A unique opportunity to own your specialty practice with huge referral base and extremely low overhead in a highly sought after spot, Yonge and Steeles. The state of the art technology, digital xrays, cone beam 3D. Tel: (647) 927-3935 Email: specialtyclinicforsale@gmail.com

ASS O CI ATESH I P S TORONTO, ON

Full time associate dentist needed for busy, modern established practice in Toronto. Complete range of services provided including orthodontics, periodontics, implants, laser dentistry, digital impressions, oral surgery and conscious sedation. An excellent opportunity for professional development concurrent with competitive income. Call: 416-748-3353 or 1-866-866-8437.

OSHAWA, ON

Progressive growing practice in Oshawa is looking for an associate dentist to start end the of February for Fridays and alternating Saturdays. Please forward resume to dentaloshawa@yahoo.ca.

SUDBURY, ON

Busy new Sudbury dental office looking for a new associate to fill the shoes of a retiring associate with a full patient load. The individual must have excellent communication skills, be compassionate and a team player. Please e-mail resume to: krista123@eastlink.ca

ORANGEVILLE, ON Established Orangeville office seeking a full-time associate. Canadian experience an asset. Email resume: Progressivedental16@hotmail.com

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p58-62 ClassifiedsC.indd 58

15-03-10 10:23 AM

Dental Marketplace

ASS O CI ATESH I P S

ST. JOHN’S, NL PEDIATRIC DENTIST WANTED ASAP

Very busy office providing services in Pediatric dentistry and Orthodontics. We are now looking for another pediatric dentist to join our team. Digital x-rays (pan-ceph-3-D), paperless office, nitrous oxide, large operatory rooms available. The office has an easy going atmosphere, a well trained staff and modern equipment. Very generous remuneration structure based on individual and/or clinic performance. Schedule is flexible. Part-time or full-time would be considered. Contact our office manager: Tonyamugford2015@gmail.com

EDMONTON, AB Great opportunity for a motivated associate with some experience. $80,000-$100,000 per month, in a beautiful office with new equipment and a great team. Current associate is moving to another province. Potential of earning up to 45% and longterm buy-in for the right candidate. Experience is an asset but not required. Please email: EdmontonDentalCareer@gmail.com

TORONTO, ON

Established, 33 year old practice seeking one or two associates for Tuesdays, Wednesdays and Thursdays. We are located in a busy mall in Toronto’s east end. The practice is fully digital including x-rays and uses all the latest dental technology. We offer a friendly relaxed environment within our wonderful dental team. We are interested in enthusiastic individuals confident in all aspects of general dentistry with excellent clinical and communication skills. Candidates may send their detailed resume and cover letter to info@sterlingdental.ca Visit us at sterlingdental.ca

GRANDE PRAIRIE, AB

Full time associate dentist required for busy family practice. Looking for highly motivated associate. Our practice includes the latest in technology (IOC camera, digital x-rays, paperless etc.). Large existing patient base. Current associate moving, team in place to help. Please send resume to pmdcgp@telus.net 780-538-2992.

SASKATOON, SK Associate required for modern, very busy practice with strong new patient flow. Great opportunity in a University setting. E-mail: associatedentist@ymail.com Fax CV: 888-880-4024.

OSHAWA, ON

Looking for a part-time associate in an Oshawa Office Mondays 9:30–5 (with the later option to extend to longer hours) Thursdays 9–5. We prefer an associate with minimum 2 years experience. We are a large office with the potential of more working hours in the future. E-dental: ocdental@rogers.com

WEST COAST LOCUM DENTIST ASSOCIATE POSITION

Enjoy the both lifestyle and working in a state of the art facility. Our established practice is located in the beautiful Comox Valley on Vancouver Island and we are looking to invite an established associate to our practice. The ideal candidate will have over three years experience and aspires to grow in their knowledge by partaking in CE and Mentorship programs offered. Interested applicants may contact via email: kim@watermarkdentalgroup.com or call at 604-787-0176.

TORONTO, ON

LONDON, ON (and surrounding area) Dove Dental Centres is looking for full time associates for their progressive, modern, multi-location group of dental practices in London, Ontario and surrounding area. Interested candidates should forward resume and cover letter to: dovedental@ody.ca

TRENTON, ON

We are looking for a motivated pediatric dentist and a general dentist who enjoys all aspects of dentistry. Come work in a busy, state of the art facility with new technologies. We have an excellent and very friendly team and looking for the right fit to join our practice. Please email us at ryounes@sympatico.ca

ASSOCIATES FOR HAMILTON & WATERLOO, ON

Associates required, for TWO VERY busy and modern practices with VERY strong new patient flow. E-mail: associatedentist@ymail.com Fax CV: 888-880-4024

Busy downtown family clinic is looking for a periodontist and implant specialist. Please fax your resumes to 416-538-8422 or email to davidkourosh@hotmail.com

OTTAWA, ON ORTHODONTIST NEEDED

An exciting opportunity for an Orthodontist in Ottawa. You will work with an experienced team of dentists and specialists in a dynamic environment with the state-of-art digital and dental equipment including Sirona Pan Ceph. A healthy flow of new patients seeking Ortho treatment are waiting for you! New Grads and/ or Orthodontists who enjoy performing Ortho treatment without the stress of running an office or being stressed about getting new patients are welcome to apply. Please send your resume to: associates2020@gmail.com

CAMROSE, AB

A great community only 50 minutes from Edmonton. Full time associate required for our busy, progressive, digital x-ray office. Existing associate is moving. Applicant must have excellent communication skills. Be busy from day one. Send C.V to smilesbyus@hotmail.com or fax to 780-672-4700

oralhealthgroup.com | Oral Health Office | MARCH 2015

OHO Mar15 p58-62 ClassifiedsC.indd 59

15-03-10 10:23 AM

60 Dental Marketplace

Dental Marketplace

Contact: Karen Shaw • tel: 416-510-6770 • fax: 416-510-5140 • e-mail: kshaw@oralhealthgroup.com Toll free: CDA 1-800-268-7742 ext 6770 • Toll free: USA 1-800-387-0273 ext. 6770

ASS O CI ATESH I P S

CAMPBELL RIVER, BC

We are a well established, 13 operatory clinic looking to add a fulltime associate to our high-energy, patient-centered team. We have an in-house lab, a CEREC technician, a fantastic team and the newest technology. We are looking for a great communicator to add to our awesome team. Our patients are number one and they want a long-term relationship with a friendly, skilled dentist. You should have an active interest in continuing education in such topics as Invisalign, Botox, Sedation (IV), and CAD cam. The right candidate will have a chance to buy-in and enjoy above average compensation. Email: kevinlathangue@gmail.com or Tel: 250-202-1864.

MARKHAM, ON Associate position part-time is available in busy mall location. Will be busy from day one. Position best suited to Cantonese or Vietnamese speaking. Can begin immediately. Friendly and personable is preferable. Please email to Oral Health Office Box 26 e-mail: kshaw@oralhealthgroup.com

BURLINGTON, ON

Friendly, experienced associate wanted for a P/T position in a busy, family practice in Burlington. Experience with CERECs would be an asset but not a requirement. Please forward resumes and cover letters to burl.associate@gmail.com

ASSOCIATE TORONTO

P/T associate for modern, growing practice in south Etobicoke with special interest in Cosmetic Dentistry and Periodontics needed. Must be able to do molar endo. Minimum 2 years of practical experience a must. Fax resume to 416-255-6414.

CORNWALL AND/OR HAWKESBURY(ALFRED), ON AND/OR VALLEYFIELD, PQ

Very busy family dental practices looking for a part time/full time associate. E-mail: lucleboeuf291@hotmail.com

MULTIPLE LOCATIONS IN ONTARIO

Are you a passionate Dentist looking for an opportunity to practice dentistry without administrative and management responsibilities? We can offer you a position. Please, visit our website to learn more about our company www.teethfirstdental.com. We are looking for part-time or full-time Associates. If you are interested, please send your resume to recruitment@teethfirstdental.com

YORK REGION, ON

Dental Associate required for a growing family practice in the Richmond Hill area. This part time position is for Thursday, could grow to more days. Proficiency in endodontics preferred. Please send resume to: oakridgesnorth@yahoo.com Fax: 905-773-7277.

OTTAWA SOUTH, ON

We are currently looking to add a full time associate to our practice located in Ottawa South. The practice is well established and has been operated for 30 years by a single dentist who is looking to transition out. Ideal candidate will be easy going and friendly towards patients and staff, confident but well grounded, good communicator and a team player willing to make a long term commitment to our clinic. Future partnership and other fringe benefits would be considered for the right associate. Please forward a copy of your resume to cheryl@alineadental.com

STE. ROSE (NEAR DAUPHIN) & NORTHERN MANITOBA ASSOCIATE NEEDED!

Seeking two full time ASSOCIATE general dentists for busy dental clinics. Be fully booked from day one! High earning potential! Start dates available between February 2015 and summer/ fall 2015. Earn up to 50%! Busy practices that serve very large areas. Housing can be provided. Don’t miss out on these amazing opportunities! Mentorship available, if wanted. New grads welcome. Contact AmazingManitobaDental@gmail.com

DO YOU WANT TO LEARN HOW TO PLACE IMPLANTS? Offering Associate Position with Implant Mentorship. Located in Central Mississauga. Minimum of one year experience req’d. Saturdays, Sundays, Mondays and some Tuesdays with potential to lead to Full-Time. E-mail: sunnydaydental@gmail.com

MISSISSAUGA, ON

Associate needed for a busy Mississauga Clinic ASAP. Close to SQ1. Please e-mail resume to: abmdentist@gmail.com

LEAMINGTON, ON.

Monarch Dental is a 20 minute drive from Windsor, our 30+ year family oriented practice has 4 ops and a great patient base. Looking for 2 days a week to transition into 4-5 days over time. No weekends. Please apply to: careers@dentalcorp.ca

WOODSTOCK, ON PART TIME ASSOCIATE

A well established practice in Woodstock, Ontario is looking for a new associate as our current associate is leaving to take specialty training. Woodstock is located between Kitchener/Waterloo and London, at the intersection of the 401 and 403. We require a part time associate, preferably with some experience, but the right fit is more important. Our practice is a modern, seven operatory facility and provides the full scope of general practice including orthodontics and implants (surgical and prosthetic phases). This position has flexible hours depending on the right candidates availability. Contact by email at: woodstockdentist@outlook.com

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p58-62 ClassifiedsC.indd 60

15-03-10 10:23 AM

Dental Marketplace

ASS O CI ATESH I P S

COLD LAKE, AB Cold Lake Dental Centre is seeking a full time associate to join our busy and growing multidisciplinary family practice. We are the newest office in the lakeland area and have state of the art facility. The suitable candidate must be motivated towards a high level of patient care. We are looking for a high-energy, clinically strong candidate who is interested in providing dental care in a suburban setting. Cold Lake is a rapidly growing community offering a variety of amenities for families and the outdoor enthusiast. No evenings or weekends required. New grads are welcome. Interested candidates send your resume and cover letter to cldent@telus.net in complete confidence.

RED DEER, AB ASSOCIATE REQUIRED

Here is the opportunity! We are looking for a PERSONABLE, PATIENTORIENTED individual to join Red Deer’s fastest growing new dental office. Schedule will be busy from day one as office has a very high volume of new patient flow. Please email resume/CV to drnar@clearviewmarketdental.ca. Talk to you soon! VANCOUVER, BC

General Dentist associate position available in busy Oakridge Centre Mall excellent opportunity for growth with existing cosmetic focused patient base, very competitive compensation for motivated dentist, new grads welcome. Monday, Tuesday, Wed am, Thursday 9-6pm available, opportunity to open nights and weekends if desired but not required. Contact: email: smiledoctors1@hotmail.com; 778-985-6507

TORONTO, ON A newly built dental clinic located on Wilson ave in Downsview with a modern dental laboratory on side is looking for part-time dentists to work as associates. It’s a unique opportunity for new graduate to become a Principal Dentist. The clinic will be open 7 days a week. We can start booking new patients from the last week of March, 2015. Tel: 416-258-5697 or e-mail: dental_la@yahoo.ca

TORONTO & VAUGHAN, ON

Toronto and Vaughan dental offices are seeking PT dentists to join their team. Candidates with 2+ yrs of experience and weekend & evening availability will be considered. Please mail resumes to v.sabharwal@SabharwalDentalGroup.com

NORTH OF CALGARY, AB

COBOURG, ON YONGE & FINCH — GTA

Full time associate wanted for Cobourg family practice — entirely English speaking practice. Saturday associate required for Yonge and Finch. E-mail: andyc@coradixgta.com

STONEY CREEK/BRANTFORD, ON

Orthodontist wanted for specialty office North of Calgary, Alberta. Option for associateship or buy-in. New graduates this is an amazing opportunity for building your career in the fastest growing community in Canada. Contact: email: smiledoctors1@hotmail.com; 778-985-6507

Looking for a highly motivated dentist. PT/ FT skilled in most aspects of dentistry for a busy, modern practice with an established patient load. Excellent remuneration. Please reply to: hamiltondentist50@gmail.com

GTA AND SOUTHWESTERN ONTARIO Full-Time And Part-Time Associates Needed

An excellent opportunity to work in a modern, digital family practice in Sarnia, with a large patient base and an amazing new patient flow. We are looking for 2 full time associates. We have a fantastic team of professionals who are focused on providing excellent patient care. If you are interested, please send your resume to Corinne@practiceadvantage.ca

Smiles First is growing rapidly and we are looking for dental associates who want to join our team and practice dentistry without administrative and management responsibilities. We have numerous locations in GTA and Southwestern Ontario and are looking for full-time and part-time associates. If you are interested, please send your resume to admin@smilesfirst.org

SARNIA, ON Seeking 2 Full Time Associates

STOUFFVILLE, ON

OTTAWA, ON Locum & Associateship Opportunity

We are an Ottawa area family dental centre looking for a locum dentist for maternity leave replacement and possible long term associateship. Please call (613) 867-8999.

Part time Dental Associate required for a Maternity leave position mid May thru Mid October (Tuesday-Thursday-Friday). www.parkdrivedental.com Submit Resume to: drbobboadway@yahoo.com

TOTTENHAM, ON

KINGSTON, ON Looking for an associate to work 3 days a week in a very busy, well established, modern practice with good patient flow. Please submit your resume to dgouettreferrals@gmail.com

BOLTON, ON

Part time associate required for busy and growing modern general practice. E-mail: dent.associate@gmail.com EAST OTTAWA, ON

Full time associate dentist needed for state of the art practice in a growing bedroom community in East Ottawa, ON. New graduates welcome. Opportunities to buy in. E-mail: maisoun@eastborodental.com

Very large family practice 1 hour north of GTA, seeking orthodontist 3-4 days per month. Currently referring all ortho out 100 to 150 cases per year. Please send all inquiries or resumes to office@queenstreetdental.ca

MULTIPLE LOCATIONS IN ONTARIO

Seeking a Certified Orthodontist and Endodontist to join a well established dental corporation. E-mail: yourdentaldream@gmail.com

HIGH PRAIRIE, AB Full-time associate dentist needed for our wellestablished family practice in High Prairie, AB. Position available immediately. Very busy practice with above average remuneration. Accommodations provided. Please email: drroy04@telus.net if interested.

oralhealthgroup.com | Oral Health Office | MARCH 2015

OHO Mar15 p58-62 ClassifiedsC.indd 61

15-03-10 10:24 AM

62 Dental Marketplace

Dental Marketplace

Contact: Karen Shaw • tel: 416-510-6770 • fax: 416-510-5140 • e-mail: kshaw@oralhealthgroup.com Toll free: CDA 1-800-268-7742 ext 6770 • Toll free: USA 1-800-387-0273 ext. 6770

ASS O CI ATESH I P S WATERLOO, ON

Full time associate needed for modern established practice in Waterloo. New graduates welcome. For more information please call 519-570-1001 or email highland.dental@rogers.com

MISSISSAUGA, SCARBOROUGH, BARRIE, BRANTFORD, ORILLIA, ON Exciting associate positions available for full and part time opportunities. E-mail: yourdentaldream@gmail.com

CAREERS ASSOCIATE WANTED: CAMBRIDGE 30 MINUTES WEST OF MISSISSAUGA Your ideal associateship is an e-mail away! Ideal hours. Great mentorship. E-mail resume to joanneandadam@rogers.com

BRAMPTON, ON Looking for part to full time associate in Brampton area. Email: westmore@drbhandal.com or fax 416-748-3965.

VANCOUVER, BC

Or thodontic specialty office seeks orthodontist as associate in Vancouver. Call for further details: 778-985-6507 EQUIPMENT

SASKATOON, SK LOCUM DENTIST REQUIRED

FOR SALE

Saskatoon all digital clinic is seeking a locum Dentist to provide dentist services for all or part of the period May 4th to May 22nd 2015. We are a progressive, family friendly office located in an upscale area close to all services. Staff is well trained and work very well together. For more information, please call Bob at 306-260-6919, or e-mail me at bob@lakeviewsquaredental.com

oralhealthgroup.com

Sirona CEREC MC XL 2 years old- like brand new. Only 40 restorations milled. 4.0 software, Bluecam. Selling complete set up: Ivoclar furnace, staining and glazing kit 120 emax blocks and 150 Empress blocks in a variety of shades $115,000. Contact nknight@sasktel.net for further information

FOR SALE — TORONTO

Planmeca proline xc digital pan/ceph plus pc/software. Pristine condition. 6 years old. Asking $32,000. Contact: info@drphilliptzemis.com

DENTAL MARKETPLACE HELP

KAREN SHAW TEL: 416-510-6770 FAX: 416-510-5140 E-MAIL: kshaw@oralhealthgroup.com TOLL FREE CDN: 1-800-268-7742 ext 6770

YOUR ADVISOR IS IN

TOLL FREE USA: 1-800-387-7742 ext 6770 WEBSITE: www.oralhealthgroup.com

MARCH 2015 | Oral Health Office | oralhealthgroup.com

OHO Mar15 p58-62 ClassifiedsC.indd 62

15-03-10 10:24 AM

Whitening as unique

as your patients It’s never been easier to find the perfect whitening system for every patient. Philips Zoom DayWhite and NiteWhite have the same superior formulas you know and love, now redesigned around your patients’ specific needs. It’s no wonder Philips Zoom is the #1 patient-requested professional whitening brand.*

DayWhite

Maximum white

NiteWhite

Maximum white

NiteWhite

Quick 3-day

DayWhite

Gentle

Touch-ups

To learn more about Philips Zoom DayWhite and NiteWhite, call (800) 278-8282 today

Philips 15-2645 Modified: 2/13/15 1:48 PM OHO Mar15 p63 Philips eng AD.indd 63

Sign and initial: ok as is ok with edits needs edits Quality Check __________ 15-03-10

⎕

10:10 AM

Are you juggling with MULTIPLE BONDS?

FUTURABOND U can do it ALL!

• ONE adhesive for ALL your adhesive dentistry – – – –

Self-etch, selective-etch or total-etch For all direct or indirect materials / no extra activator Bonds to all light-, dual- and self-cure resin materials Bonds to metal, zirconia, aluminum oxide, silicate ceramic without any extra primers

• VOCO‘s new patented SingleDose System eliminates the solvent evaporation problem that is a known problem with bottle systems – this ensures reliable high bond strength with each application.

Futurabond U Dual-Cure Universal Adhesive The ONLY bond for ALL your adhesive dentistry, without the need of any extra primers or activators.

• Fast and easy one-coat application (apply, dry and cure in 35 sec.) • Over 30MPa of adhesion to dentin and enamel with LC composites while reaching high total-etch adhesion levels with DC and SC composites.

Call 1-888-658-2584

VOCO Canada · toll-free 1-888-658-2584 · Fax 418-847-0232 · info@voco.com · www.voco.com

OHO Mar15 p64 VOCO eng AD.indd 64

15-03-10 10:16 AM

FlexCare Platinum de Philips Sonicare Plus d’innovation. Moins de plaque entre les dents.

TECHNOLOGIE TÊTE DE BROSSAGE INTERCARE

• Nettoyage interdentaire en profondeur • Élimine jusqu’à 7 fois plus de plaque entre les dents 1

CAPTEUR DE PRESSION INNOVATEUR

• Résonne quand la pression appliquée est trop forte • Conseils interactifs pour une bonne technique de brossage

MODES RÉGLABLES ET PARAMÈTRES D’INTENSITÉ

• Nettoyage : Faible, Moyen et Élevé • Blanchiment : Faible, Moyen et Élevé • Soin des gencives : Faible, Moyen et Élevé

FlexCare Platinum de Philips Sonicare élimine de manière importante plus de plaque que Oral-B Professional Care 5000 dans toutes les zones de la bouche.2 Contactez votre représentant Sonicare pour organiser une démonstration ou pour faire l’achat d’une unité d’essai à prix spécial.

philipsoralhealthcare.com

(800) 278-8282

1 Qu’une brosse à dents manuelle. M. Ward, K. Argosino, W. Jenkins, J. Milleman, M. Nelson, S. Souza. Comparaison de l’action de FlexCare Platinum de Philips Sonicare et de celle d’une brosse à dents manuelle sur la gingivite et la réduction de plaque, sur une période donnée. Données existantes, 2013. 2 Defenbaugh J, Liu T, Souza S, Ward M, Jenkins W, Colgan P. Comparison d’élimination de la plaque par FlexCare Platinum de Philips Sonicare et Oral-B Professional Care 5000 avec guide intelligent. Données existantes, 2013. Étude sur la base d’un usage unique. © 2015 Philips Oral Healthcare, Inc. Tous droits réservés. PHILIPS et l’écusson Philips sont des marques de commerce de Koninklijke Philips N.V. Sonicare, le logo Sonicare, DiamondClean, FlexCare Platinum, FlexCare, FlexCare+, ProResults, Sonicare For Kids et AirFloss sont des marques de commerce de Philips Oral Healthcare.

OHO Mar15 p13 Philips fre AD.indd 13

15-03-09 10:26 AM

Un blanchiment aussi unique

que vos patients

Il n’a jamais été aussi facile de trouver le système de blanchiment parfait pour chaque patient. Philips Zoom DayWhite et NiteWhite ont les mêmes formules supérieures que vous connaissez et que vous aimez. Nous les avons repensées pour répondre aux besoins particuliers de vos patients. Il n’est pas surprenant que Philips Zoom soit la marque numéro 1 de blanchiment professionnel demandée par le patient.*

DayWhite

Blanchiment maximal

NiteWhite

Blanchiment maximal

NiteWhite

Rapide, en trois jours

DayWhite

Doux

DayWhite

Retouches

Pour en savoir davantage, composez le (800) 278-8282

OHO Mar15 p63 Philips fre AD.indd 63

15-03-10 10:15 AM

En avez-vous assez de jongler avec TOUS VOS ADHÉSIFS?

FUTURABOND U s’occupe de TOUT!

• Le SEUL adhésif pour toutes vos applications d’adhésions – – – –

Automordançage, mordançage sélectif ou total Pour toutes les applications directes et indirectes sans nécessité d’activateurs Compatibilité illimitée avec tous les composites à durcissement photo, dual ou chimique Adhésions sure aux divers matériaux comme le métal, le dioxyde de zirconium, l’oxyde d’aluminium et la céramique à la silice, sans primer supplémentaire.

• Nouveau système SingleDose breveté VOCO élimine VOCO élimine le problème de l’évaporation du solvant qui est un problème connu avec les systèmes de bouteilles - ce qui garantit la force fiable de liaison élevée avec chaque application.

Futurabond U Adhésif Universel Bi-polymérisable Le SEUL adhésif pour toutes vos applications d’adhésion, sans avoir besoin d’apprêts (primer) ou d’activateurs supplémentaires.

• Rapide et facile en une seule couche (appliquer, sécher et polymériser en 35 sec.) • Plus de 30MPa d’adhésion à la dentine et l’émail avec les composites LC et atteignant un haut niveau d’adhésion avec les composites DC et SC avec la technique total-etch

Contacter 1-888-658-2584

VOCO Canada · sans frais 1-888-658-2584 · Fax 418-847-0232 · info@voco.com · www.voco.com

OHO Mar15 p64 VOCO fre AD.indd 64

15-03-10 10:21 AM