Modern Dentist Magazine Issue 9

Turn your financial goals into manageable, bite-sized pieces

Issue

09 ISSN 2515-6128

Securing funding for your first dental practice purchase David Brewer, FTA Finance

The Bitcoin of Dentistry Jeremias Grenzebach, Dentacoin

A financial plan that suits you Medifinance

Key contributors to this issue

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Jeff Lister, Dentystcare

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Welcome Your dental practice is also a business, and every business needs financial support and guidance in order to grow and thrive. As a dental care professional, you probably have some investment needs, and to answer those needs, you need financial solutions that recognise the scale of your business. In this edition of Modern Dentist, we have tasked our editorial board experts with providing some sound advice when it comes to funding, cash flow, costs, investment, and more, plus we asked David Brewer from FTA Finance to offer his advice and suggestions for those looking to achieve their dream of owning their own dental practice. We also have an interview from Jeremias Grenzebach, Co-Founder and Core Developer at the Dentacoin Foundation, who spoke to us about how they are hoping to make the global dental industry more affordable using bitcoin (or Dentacoin in this case!)

On Friday, 7th June and Saturday, 8th June, 2019, we attended the Dental Innovation Symposium in London. Giving you all the insight you need to grow your practice under one roof, it is a two day business event for practices who are open to thinking differently and who want to drive their dental business forward. You can find the highlights on page 49.

Ledbrook, Ledbrook & Hardwick, who explained the benefits of outsourcing HR to a professional practice; and Maria Hardman, Principal Dentist at Clinic 95, discussed her partnership with Medifinance, and how they aligned their services to fit with her business needs.

I hope you enjoy this issue, and if you have any comments or feedback, then please do get in touch via the details below.

Poppy

In this edition we also have our special product review section, dedicated to providing you advice on everything from planning efficient tax strategies to HR procedures. We heard from Peter

Poppy Green Editor, Modern Dentist Magazine 01765 600909 | @Modern_Poppy poppy@charltongrant.co.uk | www.moderndentist.co.uk

Editorial Contributors Bill Carr

Alexandra Wood

Rob Griffin

Darren Scott-Guinness

Mark Barry

Shaz Memon

Heidi Marshall

Mike Hughes

Sophie Gray

Issac Qureshi

Nathalie Smets

Sophie Kwiatkowski

Kelly Saxby

Dr Richard Brown

Associate Director Medifinance Independent Financial Advisor Dental & Medical Financial Services Partner Dodd & Co

Director Ogilvy & Haart

Managing Director Green Apple Dental Recruitment Limited

Solicitor BLM Law

Director ESM Digital Solutions Principal Dental Practice Consultancy Service Marketing and Sales Country Manager Ancar

Business Owner Aspired Finance Founder and Creative Director Digimax Dental Compliance Manager Isopharm Accountant PFM Townends LLP

Parrys Lane Dental Practice and Bupa Dental Care Geo Orthodontics

Co-Editor - Poppy Green, poppy@charltongrant.co.uk Project Manager - Amanda King, amanda@charltongrant.co.uk

Modern Dentist Magazine is published by Charlton Grant Ltd Š2019

All material is copyrighted both written and illustrated. Reproduction in part or whole is strictly forbidden without the written permission of the publisher. All images and information is collated from extensive research and along with advertisements is published in good faith. Although the author and publisher have made every effort to ensure that the information in this publication was correct at press time, the author and publisher do not assume and hereby disclaim any liability to any party for any loss, damage, or disruption caused by errors or omissions, whether such errors or omissions result from negligence, accident, or any other cause.

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Modern Dentist Magazine

Modern Dentist Magazine

Contents 07

27

11

The Bitcoin of Dentistry: transforming the face of dental care

News

7

Securing funding for your first dental practice purchase

It can be a daunting experience purchasing your first dental practice, and the current market dynamics make it a challenging time for first time buyers.

David Brewer, Managing Director at FTA Finance, offers his advice and suggestions for those looking to achieve their dream of owning a practice.

Interviews

Bitcoin of Dentistry: 11 The transforming the face of dental care Dentacoin is the first blockchain solution for the global dental industry, helping practices to build strong patient relations and maximise profits. Jeremias Grenzebach, Co-Founder and Core Developer at the Dentacoin Foundation, spoke to Modern Dentist about how they are hoping to make the global dental industry more affordable.

from the front: 16 Leading Mandy Hickson

As the second woman to fly the Tornado GR4 operationally, Mandy Hickson, draws on her experience as a former Royal Air Force pilot to inspire others to achieve their goals, while providing an external perspective on overcoming challenges and preparing for them. Modern Dentist’s Editor, Poppy Green, meets Mandy at the inaugural Dental Innovation Symposium.

4|Modern Dentist Magazine

Securing funding for your first dental practice purchase

Editorial Board

21 Monitoring key costs

Sophie Kwiatkowski, PFM Dental Accountancy

21 A valuable investment

Mike Hughes, Dental Practice Consultancy Service

23 23 Costs to consider

Be prepared and plan ahead Heidi Marshall, Dodd & Co

Kelly Saxby, Green Apple Dental Recruitment Limited

Pension Allowance 25 Tapered Act before the 31 July deadline

Darren Scott-Guinness, Dental & Medical Financial Services

25 Social media is king

Dr Richard Brown, Parrys Lane Dental Practice and Bupa Dental Care

What’s the difference between 27 debt and equity financing?

Alexandra Wood, BLM

27 Time to find an adviser?

Bill Carr, Medifinance

Time to find an adviser?

29 Social media strategy the difference between 29 What’s debt and equity financing?

Nathalie Smets, Ancar

Issac Qureshi, Ogilvy & Haart

31 Improving the quality of care Sophie Gray, Isopharm

Features

Dental Conference 33 British & Dentistry Show

The British Dental Conference and Dentistry Show took place on the 17th and 18th May 2019. Packed with over 10,000+ dental professionals, 400+ exhibitors and educational sessions, the event proved to be a huge success. Modern Dentist found the event to be incredibly insightful and it gave us the opportunity to catch up with some well-known names in the industry…

38 The dental industry is booming

Barclays Business Banking has revealed that it has seen the number and value of loans in the UK dentistry industry almost double in the last two years. Dr Aria, Principal Dentist and Owner of Harrow Dental Practice, discusses the demand for cosmetic dentistry and the reasons behind why he took out a loan.

Issue 9 | ISSN 2515-6128

40

Plastic not so fantastic!

Subscribe for

Features

40 Plastic not so fantastic!

Doing the right thing and embracing environmental challenges doesn’t have to come at a price. In fact, the rewards that come from successful change can be profitable in more ways than one. Meet Jeff Lester, Founder of Dentystcare, the company wanting to add value to your patient’s experience while doing their bit for the environment.

43

National Smile Month: bringing healthy smiles to the nation

At the Oral Health Foundation, we truly believe that developing great oral health is essential for Brits who want to have a happier, healthier and longer life. National Smile Month is a huge part of our charity’s activity and is key in giving us a platform to encourage everybody to make healthier lifestyle choices.

45 Instagram for Dentists

Shaz Memon, Founder and Creative Director of Digimax, is launching a book: Instagram for Dentists. It covers all of his tips and tricks to utilising Instagram to the fullest in order to help your practice grow and reach new audiences and potential patients.

Dental Innovation 49 Symposium 2019

Giving you all the insight you need to grow your practice under one roof, the Dental Innovation Symposium is a two day business event for practices who are open to thinking differently and who want to drive their dental business forward. The event delivered business workshops, delving deep into a wide range of focus areas such as digital dentistry, finance and practice performance and more. Modern Dentist’s Editor, Poppy Green, attended the event and picks out her highlights here.

Product Review

57 Providing practical advice

Modern Dentist spoke to Peter Ledbrook, Director and Employment Lawyer at Ledbrook & Hardwick Employment Law and HR Services Ltd, who discussed current HR procedures, and the positives of outsourcing to a professional practice.

59

A financial plan that suits you

FREE at

www.moderndentist.co.uk Supported By

Speaking to Maria Hardman, Principal Dentist at Clinic 95, we found out why she invested in Medifinance’s services, and how they aligned their services to fit with her business needs.

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NEWS

Securing funding for your first dental practice purchase

It can be a daunting experience purchasing your first dental practice, and the current market dynamics make it a challenging time for first time buyers. David Brewer, Managing Director at FTA Finance, offers his advice and suggestions for those looking to achieve their dream of owning a practice.

Looking to arranging funding for your first dental practice purchase?

For associates who aspire to become a practice owner, there is good and bad news.

The good news is that the banks very much view dentistry in a positive manner and can, in theory, offer generous terms to first time buyers for the purchase of both NHS and private practices.

The bad news is that there unfortunately remains an undersupply of quality practices coming to the market to keep pace with the demand of associates seeking to purchase.

The law of supply and demand results in higher and higher goodwill values, sometimes to such an extent that the subject practice may not be a viable acquisition.

That said, the majority of practices are ‘fundable’, although the key for any purchaser is to ensure that they plan and prepare in advance to present the bank with as comprehensive a proposal as possible.

The business proposal should reflect both purchaser and the practice in the best possible light, to outline how the business will be run and to demonstrate that the practice is (or will be) profitable to ensure a positive lending response, and to secure competitive and flexible funding terms.

How much can I borrow?

Before you view or place an offer on a dental practice, you need a rough idea of the level of finance you could raise. Can you purchase a practice for £250,000, £500,000 or £1M+?

By asking a number of questions about your clinical and employment background, together with details of your personal financial position, most advisers should be able to provide a guide as to the level of bank support you can expect, which in turm can steer you towards suitably sized practices.

It is vital to ensure you work with an independent adviser who is authorised by the FCA and as such can work with all of the

banks. There are currently 14 high street banks who have a policy to lend against dental goodwill, together with a number of smaller ‘niche’ lenders.

Do not make the mistake of approaching just one bank direct as they will only outline what their own lending guidelines will permit, which may not be the most favourable. Banks are all different and there are attractive terms available but only if you approach the right lenders in the correct manner.

What do I need to prepare?

A CV is quite often overlooked by clients who approach banks direct but it is one of the most important items the banks consider.

Yes, this will include your clinical background but most importantly it should cover aspects of managerial experience, be it in dentistry or elsewhere. You need to clearly demonstrate to the lender that you are a serious business prospect and can take the step up from an

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Modern Dentist Magazine

News The majority of practices are ‘fundable’, although the key for any purchaser is to ensure that they plan and prepare in advance to present the bank with as comprehensive a proposal as possible associate to owning and running a business, and can cope with all of the headaches that will entail. It would be prudent to run your CV via your business adviser who can provide the necessary ‘enhancements’ the banks like to see.

Your personal financial position – the banks will focus on your personal assets and liabilities as well as your personal drawings requirement. Do take your time and detail everything on these forms and do not try to gloss over certain areas you feel may be an issue. Fully acknowledge that not everyone’s finances are perfect, but a big no-no is to keep certain information back only for it to be ‘identified’ by the bank at a later date. Disclose everything - but again, speak with your adviser in advance who should be able to put a positive spin on most situations.

Cash savings - in almost every case you need to ensure you have funds put aside to put towards a purchase. For goodwill purchases, a cash contribution of between 5% and 20% is normally required (depending on lender and your personal circumstances). Better news on freehold where 100% funding may be achievable.

Bank of ‘Mum and Dad’ has come in to play in recent years - if you are in a fortunate position where family financial support is available, do ensure that you let the banks know as this could make a world of difference.

In most cases, the banks would want to see a set of accountant prepared accounts to verify your income/earnings as an associate. If, for example, you are taking over a practice where the current principal grosses £250K, however if you as an associate are only grossing £100K (before deductions), this is a big step up and you would need to convince the bank you can manage the ‘step up’ income wise.

Business Plan and Forecasts

You need to demonstrate, firstly to yourself and then the bank, that the business in question is worth purchasing – and it is true to say that not all are.

Compiling a Profit and Loss forecast is vital. We would normally take the vendors most recent accounts as a starting point (or an average of the last three years if available) and effectively personalise it to show how the business would look financially if you took over. We would add back costs, which are personal to the current owner (depreciation, spouse’s wage, vendor’s finance costs and possibly part of associate costs as you could be replacing them under your ownership). We must then include your own costs - largest of which is likely to the bank loan repayments.

It is the all-important bottom-line profit after all deductions that both you and the bank will focus on. Can loan costs be comfortably covered?

And is there enough left to cover tax, your drawings requirement and for future investment back in the business?

The business proposal should reflect both purchaser and the practice in the best possible light, to outline how the business will be run and to demonstrate that the practice is (or will be) profitable 8|Modern Dentist Magazine

About the author...

David Brewer, Managing Director at FTA Finance, has been working with the dental profession for over twenty years. He has acted for thousands of dentists providing guidance and advice in practice purchase and has developed a strong reputation for providing a reliable, pro-active, and friendly, hassle-free service. With many contacts at the major banks, FTA Finance are able to source a wide range of innovative and flexible finance packages specifically tailored to and for dentists.

FTA Finance are Authorised and Regulated by the Financial Conduct Authority and members of the NACFB. Contact David on 0330 088 11 57 or 07817 758 548 or email david.brewer@ftafinance.co.uk

Most banks would also expect to see a business plan, which is effectively a summary of the above points covered in this article: background on you (CV, financial position and earnings), background on the practice you are looking to purchase, the changes you are looking to make and the impact this will have on practice income and profitability.

Working with experts

Working with an FCA registered independent adviser will not only give you the peace of mind and a whole banking market overview, they will help you prepare your business plan and forecasts. They should also negotiate on your behalf with the banks to ensure flexible and competitive terms and then hold your hand to the very end, liaising with accountants, solicitors, sales agents, the bank, the bank valuer, and also nowadays, the CQC, to ensure a smooth and seamless purchase.

The current market dynamics and high values certainly do make it challenging for first time buyers and hopefully these tips and suggestions will assist you in achieving your dream of practice ownership.

David Brewer

is the Managing Director at FTA Finance.

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Interview

The Bitcoin of Dentistry: transforming the face of dental care Dentacoin is the first blockchain solution for the global dental industry, helping practices to build strong patient relations and maximise profits.

Jeremias Grenzebach, Co-Founder and Core Developer at the Dentacoin Foundation, spoke to Modern Dentist about how they are hoping to make the global dental industry more affordable.

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Modern Dentist Magazine

Interview

Digital dentistry is the way now Q

Firstly, let’s start with an explanation of blockchain. What is it and what are its key features?

Simply said, blockchain is just a new technology - like the Internet was a few decades ago - which allows for secure storage and the transfer of data, as well as for fast, cheap, secure transactions independent of geolocation, banks or other central authorities.

A

Blockchain is the technology behind cryptocurrencies like Bitcoin or Dentacoin.

As its name implies, it is a chain of blocks bundles of data that record all completed transactions during a given period of time, which is spread/distributed among all peers in the network.

Imagine a Google spreadsheet that contains information of all processed cryptocurrency transactions in this network. It is shared among different computer networks, everyone has a copy of it, can access it and can spot and reject fraudulent actions, but no one can edit it without a consensus from the other peers.

12|Modern Dentist Magazine

Q A

The idea was born in a small working group of dentists, business executives and software developers where I participated as well. While discussing the challenges faced by dentists worldwide and the advancements in the field of digital dentistry, I couldn’t help but bring up the topic of applying blockchain solutions for better patient engagement, improved efficiency and alternative payments. Тhe main issue addressed from the beginning was the lack of focus on preventive dentistry by both dentists and patients.

What is Dentacoin and how did you come up with the concept?

Dentacoin i​s the first and only blockchain solution for the global dental industry. It is composed of various applications that serve as a smart patient loyalty program, a dental assurance model based on direct contracts between patients and dentists, and a cryptocurrency used as a means of payment, primarily by but not limited to patients, dentists, suppliers, manufacturers and service providers.

Q A

How will Dentacoin help to make the global dental industry more affordable?

The current focus on acute treatment rather than conscious prevention leads to unbearable costs and pain. USD 440

Interview

While discussing the challenges faced by dentists worldwide and the advancements in the field of digital dentistry, I couldn’t help but bring up the topic of applying blockchain solutions for better patient engagement, improved efficiency and alternative payments billion are spent annually on dental treatment; 90% thereof are wasted on preventable problems. Those costs can be avoided through proper nutrition, better oral hygiene and regular check-ups.

This is exactly the focus of Dentacoin Assurance - the first dental assurance plan, based on smart contracts, that entitles patients to life-long preventive care against affordable monthly premiums in the Dentacoin (DCN) currency. Patients are obliged to visit the dentist regularly, pay their monthly fees and use the Dentacare App to help them with developing and maintaining good oral hygiene habits.

Dentists, on the other hand, agree to cover preventive services and occurring treatments while simultaneously earning regular income and building solid patient relations.

Q A

Apart from reducing costs, what are Dentacoin’s other benefits?

For the general public, we provide multiple ways to generate additional income by earning Dentacoin (DCN). Everyone who takes dental health related surveys on DentaVox writes detailed feedback to their dentist on Dentacoin Trusted Reviews, or fulfills the 90-day Dentacare App​challenge, is rewarded with DCN. D ​ entists are also rewarded for their willingness to become partners, for testing, patient referrals and overall contribution.

Later on, the currency can be spent within the growing network of providers (dental offices, suppliers) that accept DCN payments (​currently 90+ locations in 25 countries​), it can be used for buying various goods and services, exchanged to any other currency, or stored for later use or value increase. The more people are using the Dentacoin currency, the higher its value is prone to grow (so called ‘network effect’).

For dentists in our network, all Dentacoin tools serve as a digital loyalty program as they bind patients to their practices. Unlike traditional programs, though, the Dentacoin tools are provided to dentists at no cost and massively boost their reputation as trendsetting practitioners. T​ he main effects reported by partner dentists are higher retention and referral rates, improved feedback flow and better online presence. Those are also described in the case study; we have published about one of the first Dentacoin partner clinics - F3T Dental Clinic in London, UK.

Q

You use blockchain technology; how is technology revolutionising the dental sector?

A

From the most widely discussed use case - decentralised, patientowned, interoperable health records; through incomparably fast and secure transactions, regardless of location; to automated pay-per-use payments implemented in dental software and equipment, the potential of blockchain in the dental field is immense.

The main effects reported by partner dentists are higher retention and referral rates, improved feedback flow and better online presence

Dentacoin Assurance, ​e.g. relies only on smart (blockchain-based) contracts to regulate the relations between dentists and patients. No third parties are involved, the payments are automatically processed and the contract runs by itself until the hardcoded conditions are broken (in case of overdue payments, missed check-ups, etc.). Such models can be implemented to regulate any other contractual relations and make the supply chain much more efficient.

Q A

Is digital dentistry the way forward?

Digital dentistry is the way now.

Q A

Besides Dentacoin Assurance, what are your other products?

We have developed the following blockchain-based applications: • Dentacoin Trusted Reviews​- the first blockchain-based platform for genuine, rewarded and very detailed patient feedback where the relationship between dentist-patient is verified.

• DentaVox Surveys​- a webapp surveying users on various dental health topics and providing key dental stats to dentists and the public.

• Dentacare App​- a mobile app teaching users how to develop and maintain a proper oral hygiene routine through a 90-day gamified challenge.

• Dentacoin Wallet dApp​- a web-based wallet application allowing people to easily create a wallet, buy, send, and store their Dentacoin tokens. A mobile wallet app is in the pipeline.

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Modern Dentist Magazine

Interview

Dentacoin i​s the first and only blockchain solution for the global dental industry.

It is composed of various applications that serve as a smart patient loyalty program, a dental assurance model based on direct contracts between patients and dentists, and a cryptocurrency

Q A

the adoption potential of Dentacoin at dental offices around the world.

Every dentist who would like to understand more about how it works, can take a look on our website:​https:// dentists.dentacoin.com/ and get in touch with us.

How can dentists get involved in Dentacoin?

There are two main stages of involvement: • Using the Dentacoin tools which only requires a very easy registration, it is 100% free of charge and grants access to a powerful feedback tool, key dental market stats and various other patient-engagement features; • Using the Dentacoin tools plus accepting Dentacoin as a means of payment which allows dentists to harness the full power of the concept.

On top of that, partner dentists are entitled to an onboarding bonus in DCN and a free marketing campaign among our 200K+ followers and beyond.

14|Modern Dentist Magazine

Currently, Dentacoin applications are used by 90,000 individuals and 1,800+ dental offices, while the currency itself is accepted for payments by d ​ entists, suppliers, service providers in 25 countries.

This year, the Dentacoin Foundation marked a breakthrough by being the first blockchain exhibitor at the world’s leading dental business summit - I​DS in Cologne, Germany​. All meetings there made us even more optimistic about

Q A

What are your goals for 2019 and beyond?

We are gradually developing a solid user and partner base across the globe and this year is about improving all our current products and spreading them so they can serve the industry needs better. Pushing the Dentacoin Assurance program to the public, developing the Dentacare Kids Game and working on the decentralised patient records database, are also key milestones on the roadmap.

Anyone who wants to stay up-to-date with all updates, can follow our blog or j​oin our Telegram group​for daily discussions.

Jeremias Grenzebach

is the Co-Founder and Core Developer at the Dentacoin Foundation.

Available now!

Interview

Leading from the front: Mandy Hickson As the second woman to fly the Tornado GR4 operationally, Mandy Hickson, draws on her experience as a former Royal Air Force pilot to inspire others to achieve their goals, while providing an external perspective on overcoming challenges and preparing for them. Modern Dentist’s Editor, Poppy Green, meets Mandy at the inaugural Dental Innovation Symposium.

Q A

Firstly, Mandy, how did you come to be a Pilot in the Royal Air Force?

My interest in flying first came from my Grandfather as he was a fighter pilot himself. However, after I joined the Air Training Corps, I was awarded an RAF flying scholarship, followed by a private pilot’s licence. It was here that I flew for the first time and my interest in the military really began.

But the doors to women were still shut, women couldn’t be pilots in the Air Force, so I went off to Birmingham University to study Geography and Sports Science, keeping my dreams of flying alive by joining the University’s Air Squadron. Then, during my second year at University, the rules were changed and women were able to become pilots, and then that’s when everything started for me.

Leadership is not simply about having a plaque; every single one of us is a leader and you are a leader by your actions 16|Modern Dentist Magazine

Although I had two unsuccessful attempts at the RAF flying aptitude tests, I was still pushing for my goal. Undeterred, I went on to join the RAF as an Air Traffic Controller, eventually making my case having been observed for my skills in the real world, and being offered pilot training as a test case. I was trained on the Firefly, Tucano and Hawk aircraft, becoming the second women to fly the Tornado GR4 operationally, and completed three tours of duty and flew 45 missions over Iraq.

Q A

As an advocator for women in the work place, how would you encourage women to reach for their goals?

When I first left the Air Force, I set up a company called Inspiring Women for Work, a vibrant event designed to

Interview

We discuss communication skills, stress, fatigue, and lifestyle choices because those are the things that keep us safe in the air and those are the things that keep your patients safe too lead women towards gaining a more confident, motivated and focused mind-set. Unfortunately it didn’t initially succeed… but you have to trial these things and learn from them. I wanted to set up the event because when I had children and went back to work after my maternity leave, I felt racked with nerves about whether I was still good enough to do my job. That really made me realise that a lot of women, especially when taking a career break, are lacking in confidence when they return back to work.

I speak at a lot of events about gender diversity, encouraging people, especially women, to have confidence in themselves. I’m often asked what the solution is, and unfortunately I don’t

have a direct answer, but it will only be when companies and businesses get behind flexible working, remote working etc., that I believe we will be able to see a difference for everyone.

Q

you in so important, as well as having strong leadership at every level. I use something called the Trust formula, which is credibility plus reliability plus intimacy, divided by selflessness equals trust.

What lessons, both personal and strategic, did you learn while being in the Royal Air Force?

That you need to work as a team - if you don’t perform then others can’t perform either. That comradery is so important, especially in a flying environment, because we are dealing with very dangerous situations where you are making some very quick and life altering decisions, and if you are distracted for a second it could lead to catastrophe. Trusting in those around

Q A

A

The big lesson for me was that leadership is not simply about having a plaque; every single one of us is a leader and you are a leader by your actions.

What would you say are the key traits of being a leader?

Looking at our leadership in the UK at the moment, it is extremely interesting.

Theresa May is incredibly intelligent and was brought in to do a job that no one else particularly wanted, yet one of the things I believe she lacks as a leader

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Modern Dentist Magazine

Interview

is charism. Charisma is not everything but having the ability to communicate, inspire others, and take them on the journey with you is really important.

While I hate to say it, Donald Trump has a presence, whether that be positive or negative, and people are following him.

Leadership is transparent, it is about being honest in your actions. I believe in a Sherpa type leadership – the leader should be at the back of the group where they can see the performance of every individual, therefore having the ability to change the outcome based on everyone’s performance. You can allow others within that group to lead within their areas but you are there to oversee the bigger picture.

Q

Part of your job was making strategic decisions when faced with risk and high pressure situations, how did you remain calm and lead from the front during those situations, and how would you advise individuals facing similar conditions while at work?

I hope people take away the message of resilience – not giving up when things don’t go right

A

A lot of it comes down to training. You spend a lot of time in a simulator before you even get into an aircraft, therefore, that environment becomes quite familiar before you even start flying. In that simulator they are throwing really big emergencies at you, challenging you beyond your capabilities. When you are flying for real, if something happens, for example, an emergency, you will react appropriately and quickly because you practiced it.

When we talk about dentistry or the world of medicine, the word checklist is mentioned frequently. For me, checklists are there to assist and enable

creative thinking. You do not have to follow them to the end degree, but it shows that you are prepared and aware of the jobs at hand.

Q

What is the best way to get the most out of your team? How can we encourage, support and engage them more?

A

However much people laugh at the team away day, it can be a really great opportunity to bond as a team. Bringing people together under one common theme and one mission, especially when it is pushing people outside of their comfort zone, enabling a more equal playing field, can see really positive results.

Q

What parallels can you draw from the world of a pilot that can be shared with the business world, specifically dentistry?

A

The culture and that transparency I was talking about earlier. In the Air Force, we do mandatory training courses in human factors every year. We discuss communication skills, stress, fatigue, and lifestyle choices because those are the things that keep us safe in the air and those are the things that keep your patients safe too. I would encourage practices to speak more widely on the above topics as they are essential to employers and employees.

Q A

What do you hope people take away from your sessions?

What I find is that people usually take away different things. It depends on what they are looking for or what stage of life they are at, but I hope people take away the message of resilience – not giving up when things don’t go right. It is not just about having a thick skin, it is about being able to bounce back.

Mandy Hickson

is a motivational speaker and former RAF Royal Air Force Pilot.

18|Modern Dentist Magazine

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Competitive fixed fees Annual accounts and Tax Return Guidance on tax due and payment timescales Pro-active tax planning advice HMRC registration for new associates NHS Compass guidance HMRC investigation fee protection included

£50

Our Clients Dr Mark Lawrence “We have used several other specialist dental accountants in the past but none have been as pro-active as PFM Dental Accountancy.

Their level of professionalism and approachability has been excellent and an added bonus is the “inhouse” financial management we have enjoyed for many years with PFM Dental.

The addition of a legal team now can only add to a great team”.

Dr Hussein Hassanali “I have commissioned PFM to take care of my accounts since I first became an associate several years ago. They have been professional, timely, accurate and knowledgeable throughout my dealings with them. Plus they are always available to offer advice with quick responses and precise information tailored to each individual situation. I would certainly not hesitate to recommend them to anyone that asks”.

T. 01904 656083 | sophie@pfmtownends.co.uk | www.pfmdental.co.uk

For more Modern Dentist Magazine insights, news, trends, blogs, events news and stories FOLLOW US ON @ModDentistMag Modern Dentist Magazine

Send us over your news for our website www.moderndentist.co.uk To get in touch and find out how you can be featured in the magazine call Amanda on 01765 600909

Editorial Board

Monitoring key costs

A valuable investment

Mike Hughes

What are the most important areas for dental practices to monitor and review key performance indicators (KPIs)?

As with any business, there is the constant need to stay ahead and be superior to any competitors. With the move to cloud-based accounting, practice owners have the ability to change the way they view book-keeping and accountancy. Gone are the traditional ways of only having an idea of your profits once the annual accounts are prepared six months after your year-end.

With cloud-based accounting, everything is in real time. This means you can monitor your profits on a daily basis. So, what are the key costs to look out for?

The main two costs are lab bills and materials. The software will have the ability to run reports to show spending on lab bills and materials.

You can then use this report to benchmark your expenditure in line with turnover. Usually, we expect materials and lab bills to be roughly 5-7% of turnover. The software enables you to look into these costs in as much detail as required. For example, you can view expenditure per supplier to compare similar products from different sources to ensure the best value for money is being achieved.

Another key cost to monitor is associate fees. As a practice owner, it is important to know that having an associate performing some of the work is still giving a profitable outcome for your practice. Looking at UDA’s performed monthly and comparing this to the amount paid to the associate, will enable you to keep a track the profits from the associate performing on the contract.

Each business is different, and some Principals will have specific costs they want to control for their own management information purposes.

An example of this is repairs and maintenance. Dental practices in older buildings often require higher levels of repairs, and so keeping track of this spending can be useful for the business’ cashflow.

The bottom line is maximising profit. As a practice owner, the more you can utilise the tools available to you to help control costs and increase profits – the better!

Sophie Kwiatkowski

Accountant, PFM Dental Accountancy.

Principal, Dental Practice Consultancy Service.

How can outside advisers help dental practises better manage their cash flow considerations?

Whether you are contemplating changes to your practice, or whether you feel that it is perhaps not working as well for you as it used to, using a third-party specialist to assess how the business is working can be an invaluable investment. In my experience, most practices have worked effectively in controlling fixed overhead expenditure and are quite switched on in terms of stock control and the use of laboratory services, however, unfortunately, many do not take the time to analyse in sufficient detail how revenue is being generated and whether the practice is working to its maximum potential.

At Dental Practice Consultancy Service we have tools to map and plan in considerable detail the various revenue streams to the business, which then enables us to assess and target appropriate additional expenditure and the application of resources in order to maximise potential of the business in terms of both the delivery of care and to satisfy the objectives of the business owners. Our detailed process involves analysing who is generating what and its overall effectiveness within the business and enables us to map possible outcomes based on planned changes. I believe, firmly, that we need to mutually agree how a business is currently working before any proposal to change is going to be accepted and implemented. Often change involves ensuring that the whole practice team buys into the solution, but the most important thing is that the business principals believe in what they are doing and what they are trying to implement in the knowledge that the outcome will be beneficial for the business.

We are very aware that it is still the case that most practices tend to work in an isolated environment, particularly where business matters are concerned. In the final analysis you can only work with what you have and even if the end objective will involve radical changes you still have to build on that base.

We do not consider that it is our job to impose a solution on any business, however, by working closely with practice owners, we can help the process of evaluation and analysis to ensure that the best outcomes are achieved.

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Modern Dentist Magazine

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References Am 2015;146:610–622.

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1. Araujo MW, et al. J Am Dent Assoc 2015;146:610–622. . Data on file.

2. Johnson & Johnson. Data on file.

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Editorial Board

Be prepared and plan ahead

Kelly Saxby

Managing Director, Green Apple Dental Recruitment Limited.

There are several loan options out there for dentists – what are the current funding options for dentists who have run into unexpected expenses and need some extra support?

My clients who know me well will be able to visualise me rolling my eyes at this! The truth is there are very few “unexpected expenditures”, and in both life and business it is important to be prepared and to plan. I do try and drill this into my clients at every opportunity.

has beenAs an individual, your tax is always due in January and July, and if

you trade as a company, your corporation tax is always due nine months and one day after the year end. If you get your information your accountants in a timely manner you will have these bills brushinginto well in advance. Better still, if you keep regular up to date accounts eir mouthinformation (such as Cloud accounting), then you can get on-going up to date financial figures, so you can save as you go.

t brushed

If you know your chairs are getting old it is likely that they may need repairing and/or you will need to buy new ones. If you have trainee you know you will need to fund their pay rises when they qualify ential oils.nurses etc. In addition to planning for these types of events, businesses should a slush fund (working capital) to cover day to day expenses should hind afterkeep turnover drop off or expenses increase one month.

bstract

Costs to consider

There are plenty of funding options available for dentists as it is still a very favourable industry amongst finance providers, from high street banks to alternative providers. However, you will always have the most choice if you go to these finance providers in advance with plenty of notice about how much money you need and why.

Admittedly (for those thinking I haven’t answered the question!), there are some unexpected expenditures in life and this is what insurance is for. It is important to review your policies annually – not just the common ones like buildings and car insurance but life insurance, sickness cover, locum cover, tax investigation cover etc. A good financial advisor for any business owner is key to ensure they are correctly protected throughout their careers and beyond.

If you do find yourself in trouble and cashflow is tight, please speak to your accountant sooner rather than later as we are usually able to help.

Heidi Marshall

When looking to recruit, what financial considerations should a practice take into account?

There are a number of financial factors a practice needs to consider when looking to recruit staff, particularly dentists.

One of the most crucial is in relation to remuneration; what can you afford to pay someone to create an attractive package that still allows you to run a profitable business? In today’s job market, dentists’ contracts are very competitive and more and more practices are increasing their offer by upping the UDA value, increasing private percentages or offering additional incentives such as guaranteed day rates, joining bonuses and money towards the costs of CPD. You need to create a proposal that is attractive and viable to candidates.

Another monetary factor that is important is the cost relating to how you recruit. The famous truism “time is money” is such because of its purist look at how people invest themselves into the work they do. Every minute of your day has a value and you need to determine that value. Paying for advertising across numerous jobs boards can become costly with no guarantee that you’ll find the right dentist. And sifting through CVs for applicants that aren’t relevant or qualified for your role and then trying to reach candidates on your lunch break or out of hours can be stressful work and adds significant time to the process time is money! Many practices use recruitment agencies over general advertising as they can take a more proactive approach across a much wider candidate pool; a reputable agency will not charge a fee unless they find you a suitable candidate who actually starts working in your practice and will also offer some sort of rebate structure for added peace of mind.

Along with the costs of contracting dentists, you need to consider the costs relating to retaining staff. A robust patient list is crucial to a dentist and often develops from a visible marketing campaign, use of modern equipment, having accessible materials and knowledgeable and helpful support staff. With a larger number of practices recruiting now than in the last few years, you need to invest in the practice as a whole and create an environment that is conducive to a happy workspace. Understanding that all of these factors are costs that must be considered and managed will help you to find the right staff while also running a rewarding business.

Partner, Dodd & Co.

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Modern Dentist Magazine

Editorial Board

Tapered Pension Allowance Act before the 31 July deadline

The introduction of a tapered pension allowance in 2016 has effectively passed the responsibility to the member for checking if they are impacted and owe any tax charges.

This has taken thousands of dental professionals by surprise and has led to a build-up in unpaid tax charges.

“Many dentists are only now seeking the advice they need and many still do not understand the impact of this legislation.” Darren ScottGuinness (Dental & Medical) Since tapered annual allowance is calculated in relation to a member’s full income tax situation, an employer or pension scheme is unable to help in a constructive manner. High earners can be impacted by either excess pension growth, tapering, or indeed both outcomes.

This is a complex area and requires the proficiency of financial advisers, with experience in providing the right calculations.

Expert help at no cost.

More than 30% of those members facing tax charges arising from 2017/18 use the scheme pays route.

The deadline for scheme pays election is 31st July 2019, so prompt action is required.

Dental and Medical Financial Services is a firm of independent financial advisors (IFAs) specialising in the dental sector. As part of the service to our clients, we provide at no cost: • Carry forward and tapering pension allowance calculations to determine if there is an excess tax charge; • The options available to the member in settling any tax charges, whether that is via the NHS scheme pays or via self-assessment.

If you want the help of an IFA who understands the NHS pension scheme, the complexities around ‘threshold and adjusted income’, pension growth values, carry forward and tapering allowance calculations, don’t delay, contact Dental and Medical Financial Services.

Professional advice should be taken prior to acting on any part of it.

Darren Scott-Guinness

Independent Financial Advisor, Dental & Medical Financial Services.

Social media is king

How would you advise practices invest in their social media strategies in order to see an improvement in retention and/or new patients?

In today’s world, like it or loathe it, social media is king. Whether you are island hoping around the Adriatic seas or selling dog clothing, people don’t just “do” any more, they “show and tell”.

In dentistry, there is a growing interest in social media promotions of our business. How you invest in your strategy, of course, depends most heavily on what you are hoping to achieve from it. Do you want a portfolio for prospective employers, do you want to engage with other dentists or do you want a shop window for prospective new clients?

From my personal experiences, it is important to select a target audience for your social media campaign and then invest accordingly. For example; if you want to target prospective patients, keep the images bright, attractive and limited surgery.

If you are thinking of running courses for other dentists; you can have more clinical images with a supporting text that contains more technical jargon. No matter who your audience is, try to keep the posts positive and consider the overall feel of your page. When someone clicks on your profile, what lets them know you are a dentist and what your aims from social media are?

Levels of investment vary wildly! So far my own page has zero financial investment but heavy time investment. As you grow, consider if it is better to employ a social media manager or consultant to take over the running of the page because it can be extremely time consuming. Once again, it all depends on your goal. Consider any investment like you would consider your overall advertising budget. Usually the more time you spend, the less it will cost you and vice versa.

Target audience is salient. Some go deadly serious like @justin_ glaister or @mineshpatel_dentistry, some go financially driven like @maisondental, and others mix humour and top quality clinical work like @georgethedentist. All of these pages are extremely successful in their own rights due to consistent high quality content targeting the people they want to target.

Often the numbers game gets blinding; what is more important?

Lots of random followers or a small group of very engaged followers who will promote you to friends, relatives and colleagues...? I know which I would prefer!

Check out my Instagram @ric_brown_dentist for some general practice cases.

Dr Richard Brown,

Parrys Lane Dental Practice and Bupa Dental Care, is a Nuvola Speaker for Nuvola courses.

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Modern Dentist Magazine

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Editorial Board

What’s the difference between debt and equity financing?

Alexandra Wood Solicitor, BLM.

Whether your practice is a start-up or well established and you’re considering further investment, then debt finance and equity finance are two options to consider.

Equity investment involves a third party investing in your practice, in return for a stake in the business. The length of time for the investment and the investor’s role is agreed between the parties. It could simply be that money is invested into the practice with little involvement in day to day affairs. At the other end of the spectrum is an investor who wants involvement in operations. In both situations it is important that legal documentation is put in place to govern the relationship between the parties, including details of who can make decisions and those which require the investor’s approval, for example bringing on board an additional investor and when the investor will exit the business. It is also best practice to review the businesses insurance cover including key man and/or shareholder protection insurance.

Debt financing involves borrowing money from a lender, with a promise to repay the money at a later date. The two most common forms of debt financing are an overdraft facility or a monetary loan.

A lender will charge interest on a debt facility; commonly the rates of interest are lower on a loan rather than an overdraft and the lender does not take a stake in the business. The facility is commonly protected by way of security or personal guarantee. The finance documentation is generated by the lenders solicitors on standard terms in favour of the lender. The terms are a private document between the parties, all be it that any security would be registered at HM land registry or companies house.

It is important to make the right decision for your business based on the circumstances. You should give proper consideration to and take legal advice on any legal documentation, whether issued by a bank or prepared by an investor’s solicitor. The contracts must reflect the intention of the parties to reduce the risk of future disputes.

Time to find an adviser?

Bill Carr

Associate Director, Medifinance.

How can outside advisers help dental practises better manage their cash flow considerations?

Cashflow within business will always come in peaks and troughs. A majority of cashflow issues are caused by not setting or appreciating the income derived at certain times of the month or indeed the year. For example, we all know that July and August see a downturn in income and the same can be said for December or January, so how should we budget?

I have always looked at cashflow via a budget - the simplest way to calculate this is to work out how much will my practice cost me per month before I even put the key in the door? This is the minimum you must allow for each month and includes all the basic costs, including wages. Costs will rise as turnover increases, whether that’s materials or lab bills or indeed overtime for staff. At the start of your financial year this is a good exercise to have completed so you are able to build up a reserve for the months that are anticipated as poor.

By employing an adviser or someone who can produce accurate monthly figures, you will have a better handle on your cashflow situation days after month end. Would you rather wait for the accounts at the end of the year to find that you have made a loss or a huge profit and have a large taxation bill?

Your advisor will also be able to look at the practice expenses and ensure that you are on track and are not overspending.

The day to day job for the clinician is hard enough as it is, without this burden and let’s face it the extra time you spend treating patients will easily cover the cost of an adviser. The art of good business is delegation, and this is how businesses grow. Banks nowadays are wanting management figures for lending reviews and if you can show that you are on top of this and are working hard to achieve the goals set by your lenders, they will normally look favourably at this. Your practice is a business and needs to be run efficiently and on a minimal cost basis, so perhaps now is the time to move forward and find an advisor.

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Modern Dentist Magazine

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Editorial Board

Social media strategy

What’s the difference between debt and equity financing?

Nathalie Smets

Marketing and Sales Country Manager, Ancar.

Social media is a marketing tool and marketing costs money.

While you can post on Facebook, LinkedIn and Twitter for free, to get the best results you need to invest. Luckily social media marketing is a lot cheaper and more effective as you can target your preferred audience and measure your ROI. The big question regarding budgeting for social advertising is to determine how much you’re planning to spend. Most dental clinics spend 3-10% of annual revenue on marketing and about 35-45% of that figure on digital marketing. Of the digital marketing budget, about 15-25% is spent on social media.

Once you have figured out how much you can spend on social media, you can start planning your social media strategy.

I advise you to start with five simple questions: 1. Which platforms do I want to use?

2. How many posts per week would I like to publish (and create a publishing agenda)?

3. How do I want to engage my existing patients in liking my page?

4. What can I do to attract new patients to my clinic?

5. Who is my target audience?

As with traditional advertising, the reach of a campaign will always depend on the amount of money you are willing to spend.

For example, boosting posts on a page - the average paid reach can be close to 40% (about 8,000 people) vs. the 2% organic reach, with an investment of £5 per post. Even if you decide to boost every single post, you are looking at an investment equal or below to £150.Once you figure out all the above, you can ask yourself the sixth question: Do I need to outsource?

Social media marketing agencies will charge from as little as £100 to £10,000+ per month, depending on several things such as: number of platforms to manage, strategy, what you want to achieve, complexity of campaigns, etc. The answer that you’ll often find when asking how much it costs is ‘it depends’.

Therefore, it is crucial to know what you want to do and achieve.

Issac Qureshi

Director, Ogilvy & Haart.

When a dental practice raises money for capital by selling debt to investors, it is known as debt financing. In return for lending the money, the individuals or institutions become creditors and receive a promise that the principal and interest on the debt will be repaid on a regular schedule.

Equity financing is the process of raising capital through the sale of shares in a dental practice. With equity financing comes an ownership interest for shareholders. Equity financing may range from a few thousand pounds raised by an entrepreneur from a private investor to an initial public offering (IPO) on a stock exchange running into the billions.

If a company fails to generate enough cash, the fixed-cost nature of debt can prove too burdensome. This basic idea represents the risk associated with debt financing Example Provided a practice is expected to perform well, you can usually obtain debt financing at a lower effective cost. For example, if you need £40,000 of financing, you can either take out a £40,000 bank loan at a 10 percent interest rate, or you can sell a 25 percent stake in your business for $40,000.

Suppose your business earns a £20,000 profit during the next year. If you took the bank loan, your interest expense (cost of debt financing) would be £4,000, leaving you with £16,000 in profit.

Conversely, had you used equity financing, you would have zero debt (and as a result, no interest expense), but would keep only 75 percent of your profit. Therefore, your personal profit would only be £15,000, or (75% x £20,000).

From this example, you can see how it is less expensive for you, as the original shareholder of your company, to issue debt as opposed to equity. Taxes make the situation even better if you had debt since interest expense is deducted from earnings before income taxes are levied, thus acting as a tax shield (although we have ignored taxes in this example for the sake of simplicity).

How will you determine if your social media marketing efforts are successful? Most social platforms let you export statistics about the number of visits, shares, views, and comments received per day, week, and month. But what might interest you more is the conversion from lead to client. Think about a Facebook campaign where all new clients get a free first check up when printing a voucher…

Of course, the advantage of the fixed-interest nature of debt can also be a disadvantage. It presents a fixed expense, thus increasing a company’s risk. Going back to our example, suppose your company only earned £5,000 during the next year. With debt financing, you would still have the same £4,000 of interest to pay, so you would be left with only £1,000 of profit (£5,000 - £4,000). With equity, you again have no interest expense, but only keep 75 percent of your profits, thus leaving you with £3,750 of profits (75% x £5,000).

But remember, social media is, although economical and accessible to everyone, not that easy: you have to be creative, original and post frequently, and most of all, the posts need to be in line with the clinic’s philosophy.

The Bottom Line Dental practices are never totally certain what their earnings will amount to in the future (although they can make reasonable estimates).

The more uncertain their future earnings, the more risk is presented.

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Moden Dentist Mag1_Layout 1 17/01/2019 16:53 Page 1

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Editorial Board

Improving the quality of care

Audits are imperative to ensuring your practice is successful in improving the quality of work and its profitability. When planning an audit, what points does it need to hit in order to have the ability to result in positive change?

Audits are a useful and simple tool for improving the quality of care and detailing evidence of the process. Evidence of quality improvement and clinical effectiveness is essential in showing the Care Quality Commission (CQC) that there is compliance with the new Fundamental Standards and Key Lines of Enquiry.

A practice should be able to demonstrate that the service is: • Safe • Caring • Effective • Responsive • Well-led Audit projects should be on-going and will be a part of your portfolio of evidence.

The process involves: • Setting a standard • Measuring your practice against this • Establishing a plan for improvement • Measuring again • Continuing the cycle

When initiating an audit and collecting data, you should set objectives to show what you are going to measure, and how you will obtain this info Audit subjects can be about or prompted by: • Topics of interest • Compliance • Revalidation • Seeking new learning • Personal concerns with practice • Outcomes of incidents There are a variety of audits; however each type should remain useful and straightforward.

Standards Audit - the collecting of data to measure against the standards (e.g. infection control audit, radiograph audit).

Surgical Audit - collecting data form surgical cases for on-going reviews and assessments (e.g. implant success).

When initiating an audit and collecting data, you should set objectives to show what you are going to measure, and how you will obtain this info.

Peer Review Audit - when the clinical team discuss and analyse each other’s clinical work to provide feedback and support.

You need to decide whether you are collecting: • Quantitative data (data in numbers or data which can be counted) • Qualitative data (data in words or descriptions) • Retrospective information (looking back) • Prospective information (collect at the time of treatment)

Significant Events and Incidents Audit - collecting data from causes of concern to implement improvements.

The data should be accurate, reliable, and valid.

An audit quite often includes collaborating with colleagues, presenting results to others, and seeking peer review of findings. Audit projects are more useful and can be used as evidence in more circumstances (such as future revalidation) if they are collaborative.

The data should be accurate, reliable, and valid

Patient Surveys - collecting data from service users to improve the quality of care.

Remember, the results you achieve will be useful to other people too.

Sophie Gray

Dental Compliance Manager at Isopharm.

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Modern Dentist Magazine

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Features

British Dental Conference AND Dentistry Show The British Dental Conference and Dentistry Show took place on the 17th and 18th May 2019 at the Birmingham NEC. Packed with over 10,000+ dental professionals, 400+ exhibitors and educational sessions, the event proved to be a huge success. Modern Dentist found the event to be incredibly insightful and it gave us the opportunity to catch up with some well-known names in the industry‌ The British Dental Conference and Dentistry Show 2019 is an event that represents the UK’s only conference dedicated to all sectors of the dental community. The show is primarily for those involved in the industry, looking to enhance their business with all of the latest technology innovations and business developments. The conference also plays host to some key names within the industry, with a wide range of guest lecturers, panel sessions and educational workshops throughout the day.

This year’s conference proved to be a success with hundreds of exhibitors taking to the stage and presenting their products and services. Overall it was a fantastic event, bringing individuals and businesses together to connect and discuss current opportunities, with people going away feeling more empowered and ready for the challenges ahead.

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Modern Dentist Magazine

Features

In conversation with…

Rob Griffin, Aspired Finance Modern Dentist spoke to Rob Griffin, Owner of Aspired Finance, where we discussed the year ahead and what he hopes dentists can take away from his services.

MDM: Tell me about Aspired Finance…

Rob Griffin: We are an independent broker, offering straightforward and honest advice.

Through our established Lender Partner network, we can give you immediate access to over 250 alternative UK based Commercial Lenders and Private Banks. We can get preferential rates for all of our dentists, and we can finance anything in the dental practice from a set of loops to a whole surgery. We cover anything to do with finance and dentistry.

MDM: Why should dental professionals come to Aspired Finance?

RG: We offer all of our clients a true ‘one stop shop’ facility, providing each client with a full managed and professional service to secure the most competitive funding available.

You can make finance read in any way you want to but if I was a dentist I would want my broker to be trustworthy, reliable and look after me. It is all about building trust, and that is exactly what we do. I have got a fantastic client base who come back to me time after time.

Being old school – if you do the job well, people will come back to you.

MDM: What are your aims for 2019?

RG: This year is all about getting Aspired Finance out into the industry, and to let people know that we are a hidden secret.

MDM: Why were you at the Dentistry Show this year?

RG: I launched Aspired Finance three years ago, after having been in the dental world for fifteen and half years, I decided that it was time to branch out on my own. We had clients and we access to the funders, so my main aim was to build a brand based on providing finance for my clients at preferential rates. The Dentistry Show allows me to connect with clients I have known for many years and meet new contacts. It is all about getting the name out there.

Rob Griffin

is the Business Owner of Aspired Finance.

We offer all of our clients a true ‘one stop shop’ facility, providing each client with a full managed and professional service to secure the most competitive funding available

34|Modern Dentist Magazine

Features

Taking the pain away…

Modern Dentist caught up with Phil Mathers, Owner of Trycare, while at the Dentistry Show. We talked products, services and technology.

MDM: What products and services does Trycare have on offer?

Phil Mathers: Trycare is an independent dealer and the fastest growing dental supplies company in the UK. We stock over 28,000 products from all the major manufacturers, many of which are only available from Trycare. For example, the complete range of Tokuyama products, including their unique shadeless Omnichroma composite, Adin implants and OsteoBiol bone regeneration materials from Tecnoss.

Every week we supply thousands of practices with their dental products and are focused on delivering an excellent, high quality service. We believe it is our job to be as supportive and useful as possible to a practice, acting as a vital resource to them.

To enable this we work hard to make sure all of our staff are knowledgeable about the products we supply; able to pass on useful and insightful information whilst also introducing new products to the profession. We make sure that we are up to date with all the latest developments; aiming to be unique, innovative and best in class. Our reputation is certainly growing - we may have started out small, but we have consistently grown over the last twenty years, and we are currently in our most rapid growth period ever!

MDM: Technology is having a big impact on dentistry, especially at the moment. What do you think the future will look like?

PM: The impact of digital dentistry will definitely grow. It is an incredibly exciting time for us and the rest of the industry. We have lots of ideas in the pipeline, so you will have to wait and see what we will do!

MDM: Do you think therefore that client needs are changing?

PM: I used to be a shareholder in a company called Baxter Dental, who were the dominant supply company many years ago. When I started Trycare, people told me that I wouldn’t succeed because the industry was going to change and our services wouldn’t be relevant. However, I don’t think it has changed at all. Dentists still want good service and people they can trust. They still want an element of human contact. Technology acts simply as a support to the human element.

MDM: Why were Trycare at the Dentistry Show this year?

PM: The Dentistry Show allows us to see a lot of our existing customers, while meeting some new ones as well. It also allows us to introduce our new products like shadeless Omnichroma. The Dentistry Show gives us an opportunity to showcase our business and show the profession our unique approach.

Phil Mathers,

Owner of Trycare.

It is our job to be as useful as possible to a practice, acting as a vital resource to them |35

Modern Dentist Magazine

Features

Let’s talk tech Modern Dentist caught up with resident editorial board guru, Mark Barry, Director of ESM Digital Solutions, where we discussed next steps and the pace of technology.

MDM: Tell us a bit about yourself Mark, how did you get into dentistry?

MB: I am a qualified mechanical engineer, graduating from the Dublin Institute of Technology in 2008. In 2001 I had the opportunity to take on a Masters degree, and the topic that landed on my desk was testing the strength of taper-lock dental implants. It was my first step into dentistry. As time went on and in a completely separate universe, my wife was pregnant on our first child and was doing prenatal yoga and met another soon-to-be mum whose husband was an orthodontist, Dr Stephen Gallagher. Stephen and I met and we got chatting about digital orthodontics and digital study models. Stephen had difficulty storing his physical models and figured that there must be a way of digitising it, and coming at it from an engineering point of view, it was bread and butter to me, I had a lot of experience in that area.

We then set about creating a business plan and we then met with 3shape in Denmark. They set us up with a couple of scanners and we started offering a digital study model service.

I am now a director of ESM and I am responsible for all customer related processes, as well as teaching clients about the technology that we use, and introducing them to the benefits of ESM Digital Solutions and what the products can offer the business.

MDM: What products and services do you offer to the dental sector and what benefits do you bring to dental care professionals across the UK and Ireland?

MB: ESM stands for Electronic Study Models and we were offering a digital study models service but as time went on and as technology improved and became faster, more reliable and easier to use, we felt that we should start supplying the technology as well. We changed our direction from being a service provider to being a solutions provider. In 2009 we began providing desktop scanning solutions directly to Orthodontists, Labs and Universities.

In 2012, we started to deliver 3Shape restorative dental solutions and this coincided with the introduction of 3Shape’s intra-oral scanner TRIOS 3shape has the development capacity and community experience to develop highly functional and reliable, user-focused technology. We believe that 3shape will continue to be at the forefront of this sector for many years to come and we are proud to be delivering and supporting their products.

MDM: How did you find the Dentistry Show this year?

MB: All of these types of shows are important on a number of levels. It is great to meet with new people and re-connect with clients. These shows help us to get a better understanding of our customers and speak to them face-to-face, gaining useful feedback and insights.

There is a growing appetite to find the right partner in digital dentistry at the moment and we are putting ourselves out there as the provider of choice while at the shows this year.

Mark Barry

is a Director at ESM Digital Solutions.

There is a growing appetite to find the right partner in digital dentistryat the moment and we are putting ourselves out there as the provider of choice 36|Modern Dentist Magazine

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Features

The dental industry is booming Barclays Business Banking has revealed that it has seen the number and value of loans in the UK dentistry industry almost double in the last two years. Dr Aria, Principal Dentist and Owner of Harrow Dental Practice, discusses the demand for cosmetic dentistry and the reasons behind why he took out a loan.

According to Barclays Business Banking, dentists are racing to expand their premises and invest in new technology in order to keep up with consumer demand. Over a fifth of dentists surveyed said they would consider taking out a loan in the next two years, with the most common reason being the desire to start a new practice (45%), followed by wanting to buy more equipment (30%).

Q

Don’t hesitate to invest in your practice

A

The celebrity culture has a big effect on demand within dentistry. Shows such as Love Island have set a precedent for people wanting whiter and straighter teeth. Often people bring photos of celebrities into our practice, wanting to look like their chosen star. While we can offer the ‘celebrity smile’, it isn’t as straightforward as it may look on social media – we may need to align their teeth first or contour them. There can be a lot of work that goes into creating that ‘Hollywood smile’ because at the end of the day, we want a long-term solution rather than a short-term one.

New technology is paving the way for expansion in the sector as well as the ‘celebrity culture’, which has increased demand in consumers looking for the perfect ‘Hollywood smile’. Dr Aria has seen a massive increase in his patients wanting cosmetic dentistry in order to create their dream smile.

The support he has received from Barclays has enabled him to keep up with that demand while extending his practice and his desire of creating an established and high-tech clinic.

38|Modern Dentist Magazine

How would you say the ‘celebrity culture’ has rocketed demand for dentistry, and what effect is that having on practices and dental professionals who want to keep up with consumer demand?

This new culture of influencers has definitely made a huge difference, which is why more people are investing in new

tools and equipment in order to provide the services that consumers want. In order for me to compete, I needed to think strategically and put a plan into place.

Q A

What was your reason for contacting Barclays Business Banking?

My practice in Hornchurch Road was a lease, so while I wanted to expand, I wasn’t able to. But I needed to invest in order to become the dentist I am today, so, in 2009, a property came onto the market that I wanted to buy.

I approached Barclays in order to help me buy the property. My relationships manager, Julie O’Sullivan, was incredibly

Features

It is becoming clear that technology, including 3D printing and artificial intelligence, will shape the future of the industry less pain, and a brilliant smile. While it is important to have good technique, you need to have the technology to back you up. I have invested in a scanner which can create an image of how the teeth will look after surgery in just 60 seconds, and this alone has doubled the number of patients visiting my practice.

helpful and helped me get this under way. We created a business plan, covering what I wanted to do, how I would achieve those goals and what income I could expect to bring into the practice. It was then checked and approved. Securing the loan helped me to build a practice that I was proud of.

Q

Is the advancement in technology having a significant effect on the types of investment within a practice?

A

Without technology, doors are closed to us as dental care professionals, and therefore that affects our patients. With technology we can offer less invasive treatments,

Securing the loan helped me to build a practice that I was proud of

It is becoming clear that technology, including 3D printing and artificial intelligence, will shape the future of the industry.

Q A

What areas do you think are key for practices to invest in in order to manage demand?

Q

What advice would you give to dentists who are looking to take out a loan in order to diversify and grow their business?

A

Don’t hesitate to invest in your practice.

Since working with Barclays, I have expanded from five to eight surgeries, and introduced laser technology into my treatments, which has been revolutionary for both myself, our staff and our patients.

Dr Aria

is the Principal Dentist and Owner of Harrow Dental Practice, Hornchurch, Essex.

Dentistry has to have specifically designed tools, and technology is the way forward for that. We need to invest in sound equipment too in order to make the patient’s experience a comfortable and positive one. We also need to invest in our people, as they are the ones that make our practices the best they can be.

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Modern Dentist Magazine

Features

Plastic

not so fantastic!

Doing the right thing and embracing environmental challenges doesn’t have to come at a price. In fact, the rewards that come from successful change can be profitable in more ways than one. Meet Jeff Lester, Founder of Dentystcare, the company wanting to add value to your patient’s experience while doing their bit for the environment.

Most people agree that there is a burning need to act now on plastic and packaging waste. Week after week we are subjected to a horror show of plastic contamination.

Even the likes of Sir David Attenborough have put us on a final warning. So we know we have to do something and that comes right down to a personal level.

So how can we tackle plastic profitably?

The solution is not bamboo, there simply isn’t enough of it and the carbon footprint is too great. But there is a way to embrace plastic and let’s face it, in our industry it’s not going away any time soon.

Most people will consume thousands of pounds worth of dental products in their lifetime. Many of them buying the wrong products for the wrong reasons and mostly from the supermarket or drug store. All of which once used are destined for landfill or even worse, exported waste.

Jeff Lester at Dentystcare is amazed by the missed business opportunity as most patients

40|Modern Dentist Magazine

are telling us the same story over and over.

“We are confused by the choice and overkill in the supermarket. We’re not convinced about the supermarkets commitment to recycling and where once the dental section was a few shelves, now it’s the entire aisle, with every product just blending into another.” “If only my dentists would make it easy for me that would be brilliant...” - that is the clear message coming forward.

People are telling us they are worried about the environment - in particular, plastic toothbrushes and interdental brushes and tubes. It’s the small plastic items which don’t biodegrade that are getting to people, just as much as plastic bottles and bags.

So for Jeff and his team, a solution was obvious. Firstly, what a great opportunity for environment conscious companies like Tepe, Curaden & Co to align with a national recycling program for dental plastic waste, and for patients, getting an added value service from their dentist or hygienist that

People want added value, they want to be looked after, and they are far willing to buy from a trusted professional than from the supermarket fills the void between check-ups and has been a long time coming.

At the moment, the vast majority of dental professionals are used by the big pharma companies as free product endorsement professionals. These companies must be rubbing their hands together all the way to the bank! We all know the reason for this, free toothbrushes and give away samples make for highly profitable sales at the retailers.

Features

We are launching our pilot in August and will be looking for 50 dental professionals nationally to participate - please get in touch if you are interested

A great opportunity for the progressive dental practice who genuinely want to add value to their patient experience and who want to do their bit for the environment Big pharma companies and retailers are also doing very little in the way of recycling and nothing in regards to advice or educating patients on what are the right products, for the right reason and how best to use and replace them.

So why don’t we change that and tackle the environmental issue at the same time?

Consumer habits are changing; Boots’s profits are down by £100m with them looking to close up to 200 stores. Peoples’ buying habits are changing. Many are buying with a bit more passion, getting referrals and looking for reviews, leading us away from snake-oil advertising full of false promises.

Jeff, and his team, see this as a great opportunity for the progressive dental professional and practice who genuinely want to add value to their patient experience and who want to do their bit for the environment.

We are becoming comfortable with online shopping, mail order and subscription buying.

Success stories are everywhere from Hello

Fresh to Dollar Shave and Jeff believes there is a great opportunity to bring dental practices and professionals together in a shared venture that could prove a very profitable investment and great for the environment.

to talk about, especially while patients are in the chair. Most people want the best for their teeth and pretty much everyone is concerned about the environment and recycling today.

The numbers look pretty exciting and not just financially, and that’s why some of the leading brands in business are looking to align with Dentystcare. Not just for the sales but the PR value is fantastic.

The PR value locally of actively promoting plastic recycling is also great for practices and Dentystcare will offer, as part of a package, a fully supported social media campaign in the post code of the surgery for shareholder members.

If 5000 dental professionals could each subscribe 100 patients to Dentystcare, the anticipated revenue would be around £100m per year, which creates a very worthwhile business.

When dental professionals enable patients to buy the right products, for the right reasons, by subscription, firstly they will be pleasantly surprised by the patient response. People want added value, they want to be looked after, and they are far willing to buy from a trusted professional than from the supermarket.

That same 5000 dental professionals would also be assisting consumers to remove the equivalent weight of up to 20 humpback whales worth of plastic each year from landfill or worse, exported waste plastic.

There are also genuine upsell opportunities that can be promoted through our online store and subscription packs. These include electric toothbrushes, whitening and cosmetic services.

Most Dentystcare subscribers are anticipated to range from a consumer guide, B’s the executive wealthy through to G’s the successful suburban’s, who are happy to take professional advice and are regular online shoppers and who respond to offers, referrals, reviews and subscriptions.

This all may sound a bit salesy, but from the research undertaken, patients want added value from the dental professional today.

They view a visit to the dentist as expensive; they have a high degree of trust and respect for their dental professional and would prefer the opportunity buy from a trusted source. That being the dentist, hygienist or nurse who all top the tables of people we trust most. “If only my dentists would make it easy for me, that would be really helpful, and if it could all come in a package that is recyclable that would be brilliant!”

One obstacle we do have to overcome is the fear or reluctance of the dental professional to change and to discuss the service and opportunity with the patient.

But we have found that it’s a great subject

Dentystcare’s ‘Own it, Share it, Develop it’ philosophy is based on a vision of shared ownership and responsibility. Equity is available at the smallest level to encourage anyone one with desire to get involved, so long as they are GDC registered.

Dentystcare is ideal for private practice and larger practice groups who can also have their own branded subscription packs. This is great for local PR with a clear environmental agenda for change.

Dentystcare is actively looking for Ambassadors around the UK to assist in interacting with dental practices and professionals, promoting environmental change and attending events and seminars. They will also providing set-up and training at local practices. Ambassadors will be able to build a recurring and profitable revenue stream for their important role within the venture.

Our first Ambassador from Scotland is wonderfully enthusiastic, she is already arranging talks and events within her community and Jeff believes hygienists both active and non-practicing could play a vital role in the future of Dentystcare.

Jeff Lester

is the Founder of Dentystcare.

If you are interested in finding out more about Dentystcare then please contact Jeff at jeff@dentystcare.co.uk

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Modern Dentist Magazine

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Features

National Smile Month:

bringing healthy smiles to the nation At the Oral Health Foundation, we truly believe that developing great oral health is essential for Brits who want to have a happier, healthier and longer life. National Smile Month is a huge part of our charity’s activity and is key in giving us a platform to encourage everybody to make healthier lifestyle choices.

During the campaign, we promoted the value of a healthy smile and communicated the importance of achieving great oral health.

As part of our efforts this year to reduce oral disease and target some of the most at-need groups in the UK, we worked alongside one of our partners, Philips, to create #habits4life.

This theme was all about how adopting simple habits like twice-daily brushing, regular dental visits and a balanced diet, can go a long way to improving our oral health as a population.

This initiative, as well as wider National Smile Month activities, have resulted in dedicated oral health events in thousands of dental practices and healthcare settings across the UK. These positive messages have also found their way into classroom activities for around 800 schools, as well as hundreds more oral health events in local communities.

The support we have received, especially from dental professionals, really encapsulates the spirit in which we hoped people across the country would get involved with the campaign. So many of you have helped us spread awareness of the benefits of good oral health. Hopefully, you have also had a lot of fun while doing it too.

We are delighted that the campaign’s symbol, the Smiley, continues to be successful as a tool to engage others about the importance of a healthy smile. Since it was introduced, more than half a million people have taken a

#MySmileySelfie picture and this remains a popular vehicle for dental practices to show their support for National Smile Month.

For the 2019 campaign, we have been pleased to team up with Buddies to get more schoolchildren involved in oral health education through a range of competitions. Anything we can do to help children get into the right habits as young as possible will have long-lasting benefits. So, seeing so much participation for the campaign amongst younger people across the UK really has been one of the best things about National Smile Month this year.

One of the major challenges we face in improving the nation’s oral health is circulating information and messages to as many people as possible. This year, we have been able to achieve national press and radio coverage focussing on some of the key talking points about oral health. This, in addition to podcasts, social and digital activities, has meant that oral health education is always attracting new audiences.

We truly believe that developing great oral health is essential for Brits who want to have a happier, healthier and longer life simply if they have any questions or concerns about their own oral health. It may seem trivial but there will be many people out there who need advice about brushing and interdental cleaning. Asking the right questions of your patients can help you ascertain which ones need to hear your expert advice. Quizzing them on their sugar consumption may also be a useful way for you to inject some much-needed information.

The 2019 campaign may have seen its conclusion, but I would like to encourage the dental profession to continue to promote the messages that National Smile Month is really all about. We must continue to promote the key values of the campaign, which aim to create a happier and healthier Britain.

I would like to take this opportunity to say a huge thank you to everyone who supported National Smile Month 2019. We will be returning next year to spread more smiles and champion the importance of good oral health.

I look forward to working with you then.

During appointments, don’t hesitate to ask the age-old question of whether they are brushing twice a day with a fluoride toothpaste and

is the Chief Executive of the Oral Health Foundation.

Dr Nigel Carter OBE

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Modern Dentist Magazine

Image: Shutterstock.com

Features

Instagram for Dentists Shaz Memon, Founder and Creative Director of Digimax, is launching a a book: Instagram for Dentists. It covers all of his tips and tricks to utilising Instagram to the fullest in order to help your practice grow and reach new audiences and potential patients.

Q A

trying to project. Avoid ‘littering’ your Instagram account with random ‘noise’.

Every post must have a clearly defined purpose.

The information you provide with the images you share should work seamlessly to convince a follower not just to continue enjoying your posts in their feed, but to seek treatments with you, too. Be consistent – educate and entertain but, most of all, remain loyal to your brand.

How can a practice use Instagram to help build its brand?

A few ways a practice can start building its brand are:

Create a business account. By choosing a business account rather than a personal one you get access to detailed analytical data.

Pick a ‘local’ name. Use your practice name as your Instagram username. Try to append your location to the name e.g. @SmithsSmilesHammersmith.

Adding your location will mean that, if you like a picture for a local business or influencer, or a potential patient, they are more likely to check your profile as the location will feel familiar.

Think about your bio. You need to flesh out the details in your account bio so that people know what your account is about. Keep it brief but do link to your practice website. Instagram only gives you one link to promote, so use it.

Define your voice. Define the look and feel of your image by the voice you are

Inspire with imagery and storytelling.

Digital storytelling is a skill that creates a personal narrative to share with your target audience. When it comes to creating posts for Instagram, it is as important to focus on the visual, as it is the script. Instagram is all about images and dental practices are, these days, very much visual businesses.

Q A

How can Instagram be used to attract new patients; does it open you up to a different type of audience?

One way you can attract new patients is by getting more followers from your local area.

Digital storytelling is a skill that creates a personal narrative to share with your target audience

Use this little ‘genuine’ follow back trick.

Find Instagram accounts that interact with your target audience, such as local shops, and points of interests, and click on their followers list. Go to each profile (assuming the accounts are not private) and like a few of their pictures. The account owners will receive a notification saying ‘@ SmithsSmilesHammersmith liked your photo’. Human nature is to check who liked your picture, particularly if it is from a location you recognise. If the account owner is interested in your account, they will follow you back. This little trick has helped a number of Digimax clients grow their account following with genuine followers by more than 30%!

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Modern Dentist Magazine

Features

Post interesting content: ✔ Check out our new… ✔ Team member pictures ✔ Before and after images of your patients. Be sure to get patient consent and remember to tag them in your posts ✔ Patients smiling at the practice with team members. Again, do ensure patient consent ✔ Thank you cards and testimonials, and don’t forget to tag who they’re from! ✔ Award wins or finalist logos

Q A

How can dental professionals and practices utilise IGTV?

Firstly, I recommend everyone downloads the IGTV app and creates a channel. This channel is linked to your own Instagram account. Once you have created your channel, using the IGTV app you will see an IGTV icon appear on your Instagram profile.

IGTV allows you to upload videos that are much longer in length than Instagram Stories (15 second clips) but also you can keep these videos alive and permanent on your channel, unlike Stories which expire after 24 hours.

Q

Do you think Instagram will become a key tool, such as Google Reviews and Facebook, when patients are choosing the right practice for them?

A

Instagram has become a key tool! I have clients that use it as their main source of attracting cosmetic patients. Whilst the goal of each practice or associate may vary – there is no doubt that a bible of statistics out there will confirm that Instagram is a strong tool for businesses looking to grow.

There is no doubt that a bible of statistics out there will confirm that Instagram is a strong tool for businesses looking to grow

Q

You’ve just created a book dedicated to all the above. Why did you feel it necessary to get all this information down in one place, and how do you hope it helps dentists as well as your chosen charity?

A

With so many gurus sharing tips and tricks on what to do on Instagram, I feel that a profession like dentistry is not being correctly represented in the knowledge that is widely available.

In the book I am covering important questions that you cannot Google. I want to help practices, principals and associates to confidently get to grips with Instagram in a methodological way.

The book will cover: 1. The type of Instagram account you should have 2. How to brand your account 3. How to be interesting 4. Identifying your own voice 5. Attracting new patients 6. Growing your followers authentically 7. How to hashtag 8. Defining the type of patients you want 9. Using the ‘Influencer’ approach 10. Using Instagram stories 11. Using IGTV 12. How to create the right images 13. What and when to post All proceeds will go to Wells on Wheels – a charity project I have set up, which I am incredibly passionate about. Please watch the film here: www.wellsonwheels.co.uk

Shaz Memon

is the Founder and Creative Director of Digimax.

46|Modern Dentist Magazine

You can pre-register for Instagram for Dentists here: www.instagramfordentists.co.uk

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Features

Dental Innovation Symposium 2019 Giving you all the insight you need to grow your practice under one roof, the Dental Innovation Symposium is a two day business event for practices who are open to thinking differently and who want to drive their dental business forward. The event delivered business workshops, delving deep into a wide range of focus areas such as digital dentistry, finance and practice performance and more. Modern Dentist’s Editor, Poppy Green, attended the event and picks out her highlights here.

On Friday, 7th June and Saturday, 8th June, 2019, Henry Schein hosted the first Dental Innovation Symposium at the Pullman London St Pancras hotel. The event, the new home of the award winning Digital Symposium and Good to Great Event, offered a great programme designed around the twin pillars of business management and digital technology. With twelve hours of training and education sessions on offer, entire practice teams were able to join informative and insightful presentations, talks and breakout sessions covering customer service, marketing, business growth, leadership, finance, digital dentistry, implantology, orthodontics, lasers and practice performance. The breakout sessions over the two days were covered by a wide range of experts from the sector, such as Barry Oulton, The Confident Dentist; Barbara Hutchinson, Manan Ltd; Laura Horton and Michael Bentley, Horton Consulting; Rebecca Lyon, Software of Excellence, a Henry Schein One brand; and Dr Ian Buckle, Buckle Advanced Dental Care. The event had a high calibre of speakers, both from within and outside of the dental sector, offering guidance and top tips that could be implemented into practices.

In addition to a fantastic line-up, leading dental manufacturers and business partners were able to showcase their latest innovations at the event’s exclusive exhibition hall, providing delegates the chance to discuss clinical, digital and business solutions.

Working on your business, not in your business

The opening address was delivered by Ben Flewett, Managing Director of Software of Excellence, who reminded the audience of the initial calling of the dental industry – oral health. There is a correlation between oral health and certain diseases, for example, gum disease may increase your risk of all kinds of health complications, including stroke, diabetes and heart disease, but Ben believes if we can continue to reiterate the importance of good dental health, we can begin to prevent and reduce the risk of these health problems. Flewett also mentioned the digital revolution that we are entering into as a profession. We cannot ignore advancements in digital technology as they will become integral to our workforce strategy in order to maximise the potential for digital change, both within the NHS and private dentistry. We need to improve our digital skills in order to continue transforming healthcare.

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Modern Dentist Magazine

Features

We need to work on the business and not just in it, in order to take the business forward and into future Flewett’s address reminded us that we need to work on the business and not just in it, in order to take the business forward and into future.

Making the 1% difference

The first speaker of the conference was Steve Head, keynote speaker, inspirational trainer, coach and author, who spoke about making the 1% difference – creating high performance and personal resilience. Steve spoke about how implementing the small things can make a huge difference in your work and home life.

He touched on mental health awareness, which is a prevalent problem within the UK dental profession. It is only in recent years that the enormity of the problem has come to light, due in part to the greater availability of support and awareness of mental health issues. The main types of mental health issues in dentistry, according to Steve, are stress, burnout, anxiety and depression.

He discussed how dental professionals can best manage their mood and build mental resilience so that they can continue to perform effectively under pressure. His main goal of the session was to make sure people came away from the session with a resilience plan in place, or at least in the making.

Focus on the 149s, not the fifteens 50|Modern Dentist Magazine

Steve also mentioned the #149effect. What do you see from the following diagram?

1x1=1 2x2=4 3x3=9 4 x 4 = 15 Your eye will be drawn to the last equation because it is the wrong answer, it should be 16. It was at this point that Steve made his central message, “focus on the 149s, not the fifteens.” Three of the four equations are correct, but it is the single error that we notice. Steve explained that the ‘149s’ of our lives can become so commonplace that they become expected rather than a cause for celebration. ‘15s’ can be fixed so we shouldn’t forgot the positive ‘149s’. What a simple but effective idea!

It was clear that the audience enjoyed Steve’s presentation - he finely balanced intelligence and humour to captivate them, using real world examples that people can relate to in both their work and home lives. He was a joy to listen to and learn from.

Leading from the front

One of the main highlights of the event was Mandy Hickson, a former Royal Air Force

pilot, who shared her personal and strategic lessons learned while she was on the frontline. Her presentation was to provide dental professionals with tools to remain calm under pressure, while giving them advice on how to lead from the front when making strategic decisions when faced with risk. Modern Dentist conducted an interview with Mandy while at the Dental Innovation Symposium, which can be found in this issue!

Highlights

Overall, the Dental Innovation Symposium was a fantastic event, for both networking and learning. It provided delegates with a wide breadth of experts in a range of fields, ultimately equipping you with new ideas and insights that you can take back to your practices.

Education and development for dental professionals

The sky can’t be the limit when there are footprints on the moon!

Updating your skills, understanding the latest technology and being familiar with practice compliance requirements are all essential in an ever-changing dental environment.

That’s why Henry Schein offers you everything you need to access comprehensive, high quality and affordable learning excellence, enabling you to deliver the best patient healthcare and run a successful and profitable practice.

Digital dentistry

Practice and personal development

Infection control

Laboratory training

The Dental Innovation Symposium Surgical and implant On-demand videos

Orthodontics

Business outcomes

Visit hsdeducation.co.uk to see our full range of CPD courses Taking care of everything dental

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Around 1 in 3 men and 1 in 4 women snore.

Snoring and Sleep Apnoea - A Role for the GDP Presented by Professor Ama Johal

For dates and to book your place, visit s4sdental.com/ecpd.

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Product Review

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Providing practical advice

Modern Dentist spoke to Peter Ledbrook, Director and Employment Lawyer at Ledbrook & Hardwick Employment Law and HR Services Ltd, who discussed current HR procedures, and the positives of outsourcing to a professional practice.

59

A financial plan that suits you

Speaking to Maria Hardman, Principal Dentist at Clinic 95, we found out why she invested in Medifinance’s services, and how they aligned their services to fit with her business needs.

CASE STUDY

60

Johnson & Johnson launches new campaign to help improve the nation’s oral health

60

Infection Control CPD for dental professionals across the UK

61

Introducing the new A-dec 500.

A legend, redefined.

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Case Study: Denis R. DR Stubley B.D.S. D.G.D.P. R.C.S. F.I.C.O.I., Principal of The Independent Dental Practice

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Modern Dentist Magazine

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Product Review

Providing practical advice Modern Dentist spoke to Peter Ledbrook, Director and Employment Lawyer at Ledbrook & Hardwick Employment Law and HR Services Ltd, who discussed current HR procedures, and the positives of outsourcing to a professional practice.

Q A

How and when should SME dental practices review their current HR procedures?

Your HR policies and procedures are a guide on how to handle your HR issues. It can be problematic if you do not comply with your own procedures. You want them there to assist the business not hold it back. For example, if an employee goes on maternity/ paternity leave or has had periods of sickness absence, or if you have had to unfortunately terminate an employee’s employment, these are ideal times to consider if your policies helped or hindered your business.

Keeping HR policies and procedures under review is important. You need to keep up-todate and comply with any changes in the law or legal developments.

Q

What are the positive and negative arguments for outsourcing HR to a professional practice as opposed to keeping in house?

A

Many small employers may contract out their payroll function. You may use an agency to help with recruitment. These are both HR functions employers will be familiar with.

It is not always necessary to outsource all HR work. Taking practical advice is often more cost effective. The employer can then deal with absence, disciplinary or grievance issues following the advice of an HR professional. However, there may be issues that arise where the employer does not have the time or feel they have not got the confidence to address these issues. For such occasions they can ask an HR professional

What you need is someone who knows the law but can also provide practical advice on different options and not simply quote the law to you.You should therefore look for someone with experience in Employment Law and in advising employers on HR Issues to step into their shoes and deal with the situation for them.

Drafting policies and employment contracts can be done for a reasonable fee and will save you time and ensure you are legally complaint and up-to-date. However, if you have employees there is always a risk that issues will arise that will have an impact on your business.

Being prepared for such issues by having an HR Professional practice on board gives you the peace of mind that you have someone to turn to for practical and pragmatic guidance and employment law advice.

Q

At what point in a SME’s lifespan should decision makers be considering their HR Function?

A

A small business has fewer than 50 employees and most dental practices will fit into this category. It is unusual for businesses of this size to have a full-time HR function.

Managers will incorporate HR issues into their roles. It would not be cost effective to have a full-time employed HR person in such a small business. You should therefore have a HR professional/employment lawyer to whom you have easy access and who is prepared to answer your queries if needs be out of normal office hours or at a time to suit your business.

Q

When looking to engaging an HR professional what should SME companies consider? Cost? Calibre? Time?

A

Cost should always be an issue. It’s a balance. If you dismiss an employee with over two years’ service they can claim unfair dismissal. If you dismiss someone for a reason connected to their health they could claim disability discrimination. These are potentially costly. You therefore need pragmatic advice at an early stage as it can save you time and money in the long run. What you need is someone who knows the law but can also provide practical advice on different options and not simply quote the law to you. You should therefore look for someone with experience in Employment Law and in advising employers on HR Issues.

Peter Ledbrook

is a Director and Employment Lawyer at Ledbrook & Hardwick Employment Law and HR Services Ltd.

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Modern Dentist Magazine

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Product Review

A financial plan that suits you

Speaking to Maria Hardman, Principal Dentist at Clinic 95, we found out why she invested in Medifinance’s services, and how they aligned their services to fit with her business needs.

Q A

What services of Medifinance have you used?

We have used a variety of financial services from Medifinance, such as vehicle financing. Medifinance has a full range of finance options, and they helped me choose the best method to fund my vehicle.

I have also used their equipment financing services, enabling me to purchase new equipment in a smart and manageable way.

Q

How do you feel Medifinance has helped your Practice? Have you seen an improvement in the running of your practice?

A

Medifinance have helped me to achieve my business goals by offering borrowing opportunities, allowing money to be raised and investment to be made into the practice, ultimately improving my services and increasing patient satisfaction.

Q A

What sets Medifinance apart from other specialist lenders?

My contact at Medifinance is a personal one, Ray Cox, Managing Director, who I have known since 1984. I have done business with Ray since then and I have only ever taken one loan out with an alternative broker in all that time. He has helped me enormously with everything that I have ever needed financially for my practice, and that goes across our four practices, the latest being a practice that I had designed and built from scratch. It was a massive

project and Ray did all of the short-term and equipment finance and dealt with all of the challenges along the way.

Ray has ensured that I have had a personalised service dedicated to me and all my business needs.

Q

Medifinance’s team is made up of specifically chosen professionals with extensive experience – how have you found this has helped when employing their services?

A

The personal relationship that I have built with Ray has enabled a seamless approach when dealing with my finances as he is also connected to my accountant, so that makes things quite easy because they can share information. Ray always pulls something out of the bag, and his knowledge of the industry is second to none.

Q

Why would you recommend Medifinance‘s services to others in the sector?

A

Medifinance have a good understanding of business and the dental industry, and they have a lot of contacts across various financial institutions. It is a personalised service, and it is that relationship of understanding what we want as a business.

Ray always pulls something out of the bag, and his knowledge of the industry is second to none Intelligent Financing from Medifinance Medifinance has been helping dentists finance their equipment for over 40 years and has unrivalled experience in arranging the right finance solution, at the right price, efficiently and professionally.

Medifinance can help you plan and manage all the financial requirements you may have, ranging from a personal mortgage or loan, business funding such as equipment hire, a practice mortgage or refurbishment loan, all the way through to indemnity insurance, wealth management and international money transfers.

Maria Hardman

BDS(Birm) DUI(Lille) MJDF RCS(Eng) MFDS RCS(Edin), GDC reg 60600, is the Principal Dentist at Clinic 95. Special interest in Implantology.

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Modern Dentist Magazine

Case Study

Johnson & Johnson launches new campaign to help improve the nation’s oral health July 2019 will see the launch of a new campaign by Johnson & Johnson, offering more than 400,000 people up to £50 off a dental hygiene appointment.

Across England, Wales and Northern Ireland, 66% of adults have visible plaque and 83% show some evidence of gum disease (that is bleeding, calculus, periodontal pocketing of 4mm or more),1 suggesting that there is still more help needed for the population to achieve better levels of plaque control.

Johnson & Johnson has been dedicated to supporting dental professionals in improving their patients’ oral health for over 100 years, making full use of evidence-based clinical research and science to help deliver better outcomes through its range of LISTERINE® mouthwashes.

Building on this, the new campaign aims to offer greater support to dental hygienists, as Johnson & Johnson recognises the importance of regular dental and hygiene visits and is committed to helping reinforce that message among the public.

With only 17% of adults England, Wales and Northern Ireland stating that they had seen a dental hygienist at their last completed course of dental treatment,1 it seems that there remains a need for increased awareness and access.

Speaking about this extraordinary contribution to the nation’s oral health, Mike Lynch, Global Scientific Engagement Director of Oral Health for Johnson & Johnson, commented, ‘Just like our dedicated dental professionals in the UK, we are committed to improving oral health for patients. To show our support, Johnson & Johnson is pleased to be able to remove the financial barrier for over 400,000 individuals and demonstrate the value of our dental hygienists in the UK to ensure more people can understand the importance of good oral health.’

To qualify, the individual must purchase two promotional bottles of LISTERINE®, available in Tesco stores from July 2019. They then visit their existing hygienist (if they have one) or make an appointment with any hygienist in the UK for a scale and polish and pay for the appointment in the usual way, applying to Johnson & Johnson for reimbursement up to a value of £50.

The only impact on dental hygienists may be an increase in patient numbers, especially where cost of treatment has previously been a barrier.

1. Adult Dental Health Survey 2009. The Health and Social Care Information Centre 2011

For further information, visit www.listerineprofessional.co.uk/dentalcheck

Infection Control CPD for dental professionals across the UK Vanessa Hoole – Field Sales manager, schülke UK, is delivering infection control training to potentially thousands of dental professionals attending Core CPD Update conferences 2019, organised by Professional Conferences.

The GDC recommends 5 core areas in which dental professionals should carry out CPD and this series of ten conferences (each one attended by 200- 450 delegates) is taking place across the UK. The aim is to ensure the dental team is up to date in core areas, as well as helping satisfy the GDC’s requirements for verifiable CPD. Due to Vanessa’s considerable experience in infection prevention, she was asked by Professional Conferences to cover this key area. Vanessa’s training entitled ‘Delivering excellence… Preventing risks’ encompasses infection control, regulations, legal aspects, microbiology, ethics, staff training and cleaning, disinfection and sterilisation.

Commenting, Vanessa Hoole said: ‘I was delighted to be approached by Professional Conferences to deliver the infection control training, as they have such an excellent reputation for delivering high quality dental CPD courses. The meeting in London attracted over 400 delegates, which is proof of the popularity of these courses.’

Contact

schülke UK, Cygnet House, 1 Jenkin Road, Meadowhall, Sheffield, S9 1AT 0114 254 3500 | www.schuelke.com | email: mail.uk@schuelke.com www.proconferences.com/dental-conferences | 01923 859626

60|Modern Dentist Magazine

Case Study

Introducing the new A-dec 500.

A legend, redefined.

A-dec are pleased to announce the launch of a completely redefined new A-dec 500, which combines the reliability and longevity that dental teams expect, with access, integration, comfort and technology, to make it truly a pleasure to work with.

The delivery system has been re-designed to function holistically and intuitively, while remaining simple and easy to use. That attention to modern simplicity is the beauty behind the new system. With the ability to effortlessly make adjustments in mind, A-dec built in extra safeguards and responsiveness, including LED coolant indicators that light up when a handpiece is lifted out of the holder. The glass touchpad uses visual, user-friendly icons to eliminate clutter and positive positioning allows for smooth, onehanded movement of the delivery system without any drift.

Reliability and peace of mind are woven through every element of the new A-dec 500. Both chair and delivery system are designed to provide optimal access, allowing you to move in close and position everything within reach. Clinical instruments can be custom configured, and the control pad is fully customisable for easy navigation with the ability to add additional instruments now or later. The classic headrest and iconic ultra-thin backrest deliver consistent support for the patient from any angle, while simultaneously allowing the dentist to move in close.

Highlights: • Primea™ Advanced Air® from W&H® is a lightweight and precise air-driven, high-speed option on the new delivery. The handpiece features an adjustable bur speed and constant removal rate—even with increasing pressure.

• Positionable Deluxe Plus touchpad minimizes the extraneous and dynamically displays only what is necessary for the current procedure. The tilting screen and rotating arm adjust for precise viewing from multiple angles, and delivery system arm moves for right- or left-handed operators, allowing optimal visibility from either side of the control head.

• LED coolant indicator lights up when a handpiece is lifted out of the holder. These Individually adjustable water coolant lights identify which handpiece is in the active position, for easy adjustments without second guessing.

A-dec products are engineered to last, but technology is ever-changing.

With a flexible, forward thinking design, the A-dec 500 perfects your practice today – and grows with it tomorrow.

For more information or to book a showroom appointment, contact A-dec on 0800 233 285 or email info@a-dec.co.uk.

Case Study: Denis R. DR Stubley B.D.S. D.G.D.P. R.C.S. F.I.C.O.I., Principal of The Independent Dental Practice I have been working with orthodontics in general dental practice since 1985. During this time there have been a number of advancements in providing such treatment but none more remarkable than the advent of clear aligners.

I was one of the first practitioners in the UK to use the first available system of aligners and marvelled at the system.

As time went by different systems became available, many of which I tried with my patients. None of those systems were as impressive to me as the Nuvola system from Geo Orthodontics.

The Geo Orthodontics approach simplifies the whole process. All communication is conducted via NuvolaWEB;the online case management system that gives you up to the minute information about the progress of the case once it has been entered onto the system, or you can send a simple prescription form hand written sent with the working impressions.

You can also request a 3D video, NuvolaVIEW®, showing start to finish treatment. NuvolaVIEW® is an efficient interactive program for the clinician that allows manipulation of the single or double arch 3D models to ensure that movements involved are in line with the treatment objectives required.

The speed of acknowledgement and delivery of the aligners is first rate.

The presentation of the aligners is compact, impressive and the treatment sequence is very easily followed.

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The company provide study models constructed from the initial impressions and models of the predicted result for the dentist to Green Apple Dental Recruitment assess in the surgery.

is the A bonus of theUK’s systemleading is that both a refinement and retainers are included.

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Modern Dentist Magazine

10 Minutes with...

Ray Cox The development of equipment and diagnostics has moved the industry as a whole into a new level and can only be a positive thing

Q A

Has the dental profession changed since you started work in it?

Yes, immeasurably! I started working in the healthcare finance sector back in 1974 and almost 100% of practices were NHS, bar a few private practices in London. Now around 60% of practices are fully private. NHS contracts have changed three times in this period too, and in my opinion, not for the better. When I first started out, dentists couldn’t practice as corporates and this was true right up until the mid-90s.

Private treatment is definitely making the entire experience better for the patient. The development of equipment and diagnostics has moved the industry as a whole into a new level and can only be a positive thing.

Q A

What have been the key positive or negative changes in your area of the profession?

From a positive viewpoint, dentistry continues to be seen as a blue-chip profession as far as the banks are concerned, and borrowing is still relatively easy. However, the financial crisis had quite a negative impact on the profession so far as the climate for new start practices, and it continues to be low appetite with most of the funders. This doesn’t mean that it is impossible to fund a new start practice, but practitioners definitely need to be talking to specialist lenders such as ourselves, who understand both the dental market and banking requirements in order to secure the best deal. We also have access to many funders that you won’t find on the high street, who have an understanding of the dental market.

62|Modern Dentist Magazine

Q A

Who inspires you and why?

My daughter Sarah was diagnosed with cancer back in 2013 and with fortitude and determination has successfully fought the disease. Her positive attitude towards her diagnosis most definitely carried her through that extremely difficult time and I am pleased to say that she now continues to ride her horses, spend and enjoy time with her family and even manage the accounts side of Medifinance. She is a remarkable lady who I have the upmost respect for.

Q A

Have you got a mentor? If so, what was the most valuable piece of advice they gave you?

My mentor was Colin InglebyMackenzie OBE, who was ex-president of the MCC (Marylebone Cricket Club), who sadly passed away in 2005. He was an incredible man and his advice to me was to be honest and treat people fairly and you will be successful in business. This is somewhat of my mantra and I use it with both my clients and my team.

Q A

If you were not in your current position, what would you be doing?

I would be retired and sailing around the world! If I hadn’t been doing what I am currently doing, I think I would be bored of working!

Ray Cox

is the Managing Director of Medifinance.

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