THE #1 JOURNAL FOR NEW DENTISTS
Ambulance Chasers, Good-ForNothings ... And Why You Still Need an Attorney p6
TECHNOLOGY
Apps for New Dentists p28
Intra-office Communication Systems p16
PLUS
Where to Practice p24
SUMMER 2012
We’ve always liked the idea of Now. Now is better than someday. Now is better than two months from now. Thanks to our association with over 150,000 enrolled practices, millions of patients have been able to get the care they want, right when they want it. Without postponing treatment. So, as we celebrate our 25th year, we wanted to thank you. And there’s no better time than Now.
800.300.3046 | carecredit.com
INTRODUCING DOUBLE GRACEYxp TM
Double Gracey - Anterior (AEDGAXPX) Replaces Gracey curettes 1-2, 3-4, 5-6, 7-8, and 9-10 along with Universal curettes.
TM
Double Gracey - Posterior (AEDGPXPX) Replaces mesial/distal Gracey curettes 11-12, 13-14, and 15-16 along with Universal curettes.
Double Gracey - Mini Anterior (AEDGMAXPX) Replaces Access and mini Gracey curettes 1-2, 3-4, 5-6, 7-8, and 9-10 along with Universal curettes. TM
Double Gracey TM - Mini Posterior (AEDGMPXPX) Replaces Access and mini Gracey curettes 11-12, 13-14, and 15-16 along with Universal curettes.
“Ultrasonic instrumentation precedes hand instrumentation and time is a precious commodity in private practice today. Therefore, the use of double-bladed, sharpen-free curettes makes perfect sense.” - Lynne Slim, RDH Perio-therapy Columnist, RDH Magazine
BENEFITS + Two Cutting Edges - Adapts to mesial/distal or buccal/lingual + Double Gracey Design - Able to keep lower shank parallel to tooth surface - Posterior replaces mesial/distal - Anterior replaces buccal/lingual Gracey’s along with Universal curettes
www.am-eagle.com
+ Rounded Toe - Safe for subgingival access + XP Technology -
Slimmer blade design Retains factory edge Saves time and money Titanium Nitride alloy doesn’t require sharpening for the life of the instrument!
(800) 551-5172
FROM THE PUBLISHER’S DESK S U M M E R 2 012
Dear Readers,
PUBLISHER
Sally McKenzie Sally@thenewdentist.net
Welcome to the summer issue of The New Dentist™ magazine.
DESIGN AND PRODUCTION
T
he long and lazy days of summer are nearly upon us; however, for most new dentists things aren’t likely to slow down. In fact, summer is often the time in which many take on more responsibility, such as making major decisions on relocation, purchasing or building practices, upgrading or incorporating new technologies, and squeezing in some extra continuing education credits – which makes this issue of The New Dentist™ particularly timely. Whether you’re building your dream practice or purchasing a practice, there’s no substitute for the advice of an experienced attorney. On page 6, attorneys Jason and Patrick Wood say, put the “ambulance chaser” stereotypes aside, and make sure the legal expert you hire is, indeed, an expert. Also in this issue, Scott McDonald advises new dentists that the old rules for figuring out the best places to practice have changed significantly. Find out what this demographic expert is advising on page 24. And if it’s technology you love, we have an app for that, or rather an article about some of dentistry’s favorite apps that you can download today to improve patient education, treatment planning, and much more. And don’t miss what three doctors have to say about their intra-office communication systems. Light systems are out, and the latest technology is in. Additionally, how does FREE continuing education sound? We think pretty good, and we’ve discovered a place where new dentists can save a bundle and earn hours of FREE continuing education credit from an approved ADA Continuing Education Recognized Provider (CERP). Turn to page 10 and discover what Viva Learning has to offer. Finally, don’t stop here. Take a moment to visit www.thenewdentist.net and discover a wealth of FREE information and materials to guide you at every step throughout your dental career. Fondly,
Sally McKenzie, Publisher
visit www.thenewdentist.net #1 Web-site for New Dentists 2 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
Picante Creative http://www.picantecreative.com Managing Editor
Tess Fyalka Tess@thenewdentist.net SALES AND MARKETING
For display advertising information, contact ads@thenewdentist.net or 877.777.6151. Visit our digital media book at www.thenewdentist.net/ mediabook.htm The New Dentist™ Magazine is published quarterly by The McKenzie Company (3252 Holiday Court, Suite 110, La Jolla, CA 92037) on a controlled/complimentary basis to dentists in the first 10 years of practice in the United States. Single copies may be purchased for $8 U.S., $12 international (prepaid U.S. dollars only). Copyright ©2012 The McKenzie Company. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, without permission in writing from the publisher. Authorization to photocopy items for internal or personal use is granted by The McKenzie Company for libraries and other users registered with the Copyright Clearance Center. Disclaimer – The New Dentist™ does not verify any claims or other information appearing in any of the advertisements contained in the publication and cannot take responsibility for any losses or other damages incurred by readers’ reliance on such content. The New Dentist™ cannot be held responsible for the safekeeping or return of solicited or unsolicited articles, manuscripts, photographs, illustrations, or other materials. The opinions, beliefs, and viewpoints expressed by the various authors and contributors in this magazine or on the companion website, www. thenewdentist.net, do not necessarily reflect the opinions, beliefs, and viewpoints of The New Dentist™ magazine or The McKenzie Company. Contact Us – Questions, comments, and letters to the editor should be sent to Tess@thenewdentist.net. For advertising information, contact ads@thenewdentist. net or 877.777.6151. Visit our website at www.thenewdentist.net to download a media kit.
TABLE OF CONTENTS
SUMMER 2012
F E AT U R ES
6 Ambulance Chasers, GoodFor-Nothings … and Why You Still Need an Attorney
Jason Wood, Esq. and Patrick Wood, Esq.
10 What is Viva Learning Doing
14
for Today’s New Dentists?
14 Been There, Done That: Dentist Urges Lifelong Learning
16 Intra-office Communication Systems: Make the Most of Today’s Technology Tess Fyalka, Managing Editor
20 Keep an Open Mind about Large Group Practices Dave Britt, DDS
22 Is Your Recall System Costing You $$$?
24 Determining Where to
Practice: The Rules Have ‘Churned’ Scott McDonald
28 Dentistry … There’s an App for That
DEPARTMENTS 2 Publisher’s Message 26 Dental Students:
What’s on Your Mind?
32 Skinny on the Street 32 Index of Advertisers
32
28 4 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
16
Ambulance Chasers, Good-For-Nothings …
And Why You Still Need An Attorney BY Jason P. Wood, B.A., J.D., and Patrick J. Wood, B.A., J.D.
O
hhh boy do I love my litigation brethren; they give us such a good name! Entire books have been written containing hundreds of jokes about attorneys. Unfortunately, for the vast majority of the public, all attorneys are created equal. They all do legal work; therefore, my attorney should know how to handle my case or my transaction. This ignorance causes a series of false assumptions that usually harm the client long after the attorney and the client part ways. But dentists know better, right? After all, the dental profession is based upon specialties, and thus they know not to use an attorney that does patent law to represent them for a dental practice transition, right? Or the fact that a litigation attorney is programmed to start fights rather than create compromise so a deal can be successfully created? Unfortunately, many dentists either choose not to have legal counsel or choose someone they know personally but lacks the experience to represent them on their most important career deci-
6 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
sions, thereby causing them to miss a myriad of issues that could potentially cost hundreds of thousands of dollars. This article is a brief attempt to show readers of The New Dentist™ the many areas in which the advice of experienced legal counsel is needed when you have decided either to start your own dental practice or purchase an existing practice. BUILDING YOUR DREAM PRACTICE An attorney’s role in representing a dentist in a startup situation can be as broad or as narrow as you want it. You can enlist them as your quarterback to vet your contractors and possible lenders, speak with your architect about various local code sections, and supervise many other issues for you until you have opened for business. However, I think most of us believe that would be a waste of money. It is our firm’s belief that you should enlist the most qualified individuals for each segment of building your practice. An attorney that plays the role of supervisor may end up overriding or CONTINUED ON PAGE 8 >>
Jason Wood is partner in the law firm of Wood & Delgado, and Patrick Wood is the founder and senior partner of Wood & Delgado, a law firm that specializes in representing dentists for their business transaction needs. Wood & Delgado represent dentists nationally and can be reached at (800) 499-1474, www.dentalattorneys.com, or by email at jason@dentalattorneys.com or pat@dentalattorneys.com.
PROTECT YOUR DENTISTRY
WITH KELLER’S BRUXISM SOLUTIONS Comfort H/S Bite Splint
59
$
TM
Hard exterior & soft interior provide protection and comfort at an economical price.
Protects teeth, muscles, and joints by reducing muscle contraction intensity nearly 70%.
soft Reduce chairtime and increase patient comfort. • Indicated for patients with veneers or crowded teeth • Extends to bicuspids for retention
®
Clinically unbreakable, injection molded full coverage guard for precise fit and exceptional strength. Won’t absorb stains or odors.
®
An adaptive, flexible bite guard that reduces chairtime and increases patient comfort.
Only
$119 $124 $114 $129
Attorney
continued from page 6
dental practice! There are some provisions that are designed to take up to 50% of your future sale price! It is not your lease negotiator/broker’s job to negotiate these out of your lease (in fact, it would be unauthorized practice of law if they did), and therefore many dentists who believe they are protected by using a lease broker have numerous pitfalls in their leases. Make sure you hire an attorney with extensive lease review experience so that they will catch these issues for you. Creating the Proper Entity for Your Dental Practice
missing important steps that may help you. We definitely believe that an attorney with extensive experience in this industry should be able to direct you to the right people for every facet of your build-out, but he/she shouldn’t be enlisted to look over everyone’s shoulder. At a minimum your attorney should be involved in: Reviewing the Letter of Intent If you have enlisted the services of an experienced lease negotiator, then you do not need your attorney to negotiate your letter of intent (LOI). You should, however, have your attorney review it prior to submitting it to the landlord. If the parties can agree upon some core issues in the LOI stage, your legal fees should be a little lower overall on the deal, and the likelihood of getting key concessions is statistically greater at the LOI stage than during the lease negotiation stage. For instance, I am more likely to get option period rent modified to be more favorable for a dentist if I negotiate this at the LOI stage than if I am brought in to review and modify the lease, which could save you tens of thousands of dollars. There are some firms, like ours, that will do this negotiation for free if the LOI cannot be successfully negotiated. Reviewing/Modifying the Lease This is the most important issue that you can use an attorney for when starting a dental practice or acquiring one. Leases are nasty. They contain numerous negative provisions that uniquely harm dentists. Unless you have a two-page lease written in 1975, I can confidently say that you have a minimum of 15 provisions that can detrimentally impact the value, saleability, and transferability of your 8 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
Being a dentist is hard. You have to comply with so many regulations, many of which you may have never even heard of. Choosing the proper entity falls into this category, as a dentist must not only comply with the normal laws relative to corporations, LLCs, and other entities, but they must also comply with their state dental practice act. Your state dental practice act will control not only which entity structure you are allowed to utilize, but also the name you are allowed to use.
ACQUIRING A DENTAL PRACTICE Here, an experienced dental attorney can play a much bigger role in your transition process. From selecting the right practice to meet your strengths and weaknesses, to recommending the best professionals in other areas to help you with your due diligence, your attorney should be an instrumental part of your team, if not the team leader for your other professionals. When speaking to a potential new client who is looking at acquiring a practice, I spend about an hour on the phone asking various questions to make sure the practice my potential client is looking at sounds right for them. Hopefully, your attorney will provide this as a free service, as our firm does, in order to help you feel comfortable in moving forward with your acquisition. At a minimum your attorney should be involved with: Preparing and Negotiating the Letter of Intent This is huge. Many brokers discourage the use of an attorney at this stage because they do not want negotiations on price and other extremely important issues. They want you to be “locked” in to what you have agreed on in the LOI BEFORE you hire competent advisors. As in the LOI stage for leases, this will hopefully be offered as a free service by your attorney until the LOI is accepted. A properly negotiated LOI can save you thousands of dollars and increase the likelihood that your acquisition will be successful. It also tends to lower overall attorney fees, since some of the more intense issues will already have been negotiated. CONTINUED ON PAGE 30 >>
What is Viva Learning Doing for Today’s New Dentists? ™
The New Dentist™ magazine recently spoke with Dr. Philip Klein, CEO and founder of Learn HealthSci, Inc., about how Viva Learning™ is helping new dentists.
What is Viva Learning? Viva Learning™, developed and powered by Learn HealthSci, Inc., is an industry-wide dental continuing education (CE) platform that delivers free CE accredited content (interactive and self-study) through the convenience of the Internet. Live webinars are prepared and presented by today’s most respected clinicians, speakers, and dental educators. Participants can watch presentations directly from their computer and interact with speakers through a live Q&A interface. Presentations are highly interactive, including live polling, audio, slides, white boards, and streaming video. CE accreditation is provided by DenTrek, an approved American Dental Association Continuing Education Recognized Provider (CERP). How many dental professionals access continuing education through Viva Learning? We have more than 33,000 active Viva accounts consisting of GPs, specialists, hygienists, and staff, growing at a rate of approximately 2,000 new users each month. More than 7,000 CE credits are completed each month by our Viva visitors. Currently, Viva Learning™ has more than 220 participating speakers, delivers between 10 and 15 live webinars every month, and offers 300 hours of on-demand CE and 165 product tutorials. What is the advantage of using the Viva Learning site? First, there is no charge for the continuing education webinars on the site. This is particularly advantageous for new dentists who may have budget constraints that make it difficult to close the office and travel to traditional continuing education programs. It’s a convenient and time-saving way for dentists and staff to keep up with their dental continuing education without leaving the comfort of their home or office. Additionally, Viva Learning provides a wide range of continuing education content, enabling practitioners to stay current on a broad array of new clinical techniques, products and technologies, and best practices. Viva’s easy-to-use web interface and large, diversified CE library makes it a compelling way to take CE and earn interactive and selfstudy CE credits. Moreover, Viva Learning consolidates all 10 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
training activity into concise reports that are emailed directly to the user. And most importantly, Viva continuing education webinars are presented by leading clinicians and wellrespected dental educators.
How do new dentists access Viva Learning continuing education programs? Getting started is simple. Just go to our website, www.vivalearning.com. Sign up for your first webinar, and you will receive your free Viva CE Pass. The CE Pass provides unlimited, free access to all Viva webinars and product tutorials. You’ll receive our e-newsletter featuring upcoming live webinars, which also includes quick links that make it easy to reserve online seats. What else does Viva Learning offer? Later this year we will be launching our new Viva Reader, an online journal that highlights clinical techniques, new products and technologies, and practice management content. We will also feature online dental product reviews through a partnership with The Dental Advisor. In addition, Viva also provides a complete e-learning platform and library to several large dental companies like Aspen Dental, Smile Brands, and Western Dental. Dentists who work for these companies can take advantage of the entire Viva library and also participate in custom online training specific to their organization. How is Viva Learning funded? Viva Learning is supported by corporations, organizations, and CONTINUED ON PAGE 12 >>
Practice Made Perfect
SM
Tremendous Earning Potential • Defined Career Path to Ownership • Proven Practice Model Comprehensive Marketing & Business Support • Ongoing Professional Development
Dentist opportunities available nationwide! Already graduated? Confused on what to do next? Start with Aspen Dental, the nation’s premier network of dental practices. With our defined path to ownership, you can start realizing your dreams of owning a practice sooner than you ever thought possible. At Aspen Dental we recognize that our success is a direct result of empowering and supporting ambitious dental professionals. We provide a professional, fast-paced, entrepreneurial work environment based on a mutual respect that keeps our interests aligned. Together, we build and develop successful, patient focused dental practices. We’ve got the perfect opportunity for you! Join Aspen Dental – the premier network of dental practices.
866-748-4299
Connect with us:
Aspen Dental is an EOE.
AspenDentalJobs.com
“I wanted to relocate and Aspen Dental gave me that opportunity while still guaranteeing job security.”
Dr. Dave Britt Managing Clinical Director University of MissouriKansas City
Viva Learning continued from page 10 other entities that are interested in and dedicated to high-quality continuing dental education.
What are some of the continuing education offerings you have on the schedule? We have, on average, 10-15 new live webinars every month. Here are a just a few upcoming webinars on www. vivalearning.com. •
Esthetic Dentistry for Tots and Teens (May 22)
•
Stop Watching Caries and Start Managing It (May 22)
•
Digital Impressions and CAD/CAM Restorations (May 24)
•
Posterior Restorations – How to Make Your Life Easier with New Materials and Equipment (May 30)
•
Simplifying Dental Radiography (June 6)
•
The Proper Pre-Bleaching Examination for Optimal Patient Satisfaction (June 19)
•
Performance Measurements for the Dental Team (June 20)
•
MBT™ Versatile+ Appliance System Lacebacks and Tiebacks (June 22)
•
Impression Techniques (June 27)
•
Premium Esthetic Dentures – The Science Behind the Results (July 24)
•
Bonding for Phased Treatment (Aug. 14)
•
Better bonding to Non-Enamel Surfaces (Sept. 14)
If dentists would like to speak to you directly about Viva Learning, how can they reach you? Via email at support@vivalearning. com 12 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
Open Wider.
Live Oak Bank Helps You Expand Your Practice. Expanding your dental practice into multiple locations is a big deal. Now, there’s an experienced partner you can turn to who can secure the land and the financing needed to make your next practice a reality. At Live Oak Bank, we specialize in working with entrepreneurial dentists like yourself. Unlike most banks, we’re able to swiftly make the multi-million dollar loans. Finally, a bank that doesn’t act like a bank. That’s kind of a big deal. Connect with one of our Senior Loan Officers for more information:
Keith Merklin
Mike Stanton
(866) 484-1223 • www.liveoakbank.com/newdentist
Lending More Than Capital. Member FDIC
BEEN THERE, Done That
Dentist Urges Lifelong Learning Dr. Tom Ryan has enjoyed a long and prosperous career in dentistry. This graduate of Ohio State University College of Dentistry is one of those individuals who knew early on exactly what he wanted to do with his life. “I had observed my family dentist and was very interested in the aspects of health care and the arts. By the time I was in the 8th grade, I knew I wanted to be in dentistry.” Dr. Ryan has maintained a successful practice for 40 years in Columbus, Ohio. As he watches the next generation of new dentists enter practice, he offers his perspectives on where new dentists should invest time and energy to make the most of their dental careers.
W
ith the advances in treatments and technologies, new dentists today are in a position to provide excellent and pain-free care to patients, notes Dr. Ryan. “Pain associated with injections is the number-one fear patients have of going to the dentist. But practitioners today have the ability to give pain-free
Photo courtesy of ULTRADENT
retraction. And you can see in your preps what has to be done to ensure you are getting a quality, well-fitted restoration.” As Dr. Ryan and virtually every other successful dentist confirms, the practice of dentistry is a process of lifelong learning. “I urge new dentists to join two study clubs. One
“Pain associated with injections is the number-one fear patients have of going to the dentist.” injections expertly, so don’t shortchange your practice. Make it your goal to provide that to patients and develop a methodology to exude confidence in your ability to deliver that.” Although many new dentists would be happy to never see a rubber dam again, Dr. Ryan has found that it is a musthave tool in delivering superior dentistry throughout your career. “The reality is with today’s composites and everyday expectations of general dentistry, it’s a godsend. It’s a matter of developing your own efficient system in placing the dam, so that you are comfortable using it. In addition, one of the most valuable tips I ever received, and I regularly pass it on to new dentists, is trim your own dies. It will make you a better dentist because you can see the importance of getting excellent
is the Tucker Gold study club, which is hands on. You learn. You do. And you fabricate. You learn the proper preps and techniques for excellent gold restorations, and you perform those on live patients. Then you have the opportunity to seat your restoration, which you do with the guidance of a mentor. The other would be the classic diagnostic and treatment planning study club, such as the Seattle Study Club.” In addition, Dr. Ryan urges dentists to join their state and local dental societies, as well as the American Academy of Operative Dentistry. “The Academy has an outstanding two-day meeting where you can meet the people who are doing the research and writing the text books on current trends and techniques in dentistry,” he adds. CONTINUED ON PAGE 18 >>
14 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
the original knitted cord with Ultrapak® CleanCut
Easy packing. Excellent absorption. Exceptional retraction.
Ultrapak CleanCut design features a blade in the cap for the ultimate convenience.
Ultrapak Knitted Cord ®
When tissue management is key, reach for Ultrapak knitted displacement cord. Its
proprietary knitted design allows it to pack into the sulcus, absorb fluids, and expand for adequate retraction better than braided or twisted cords. As an important part of Ultradent’s proven tissue management system, Ultrapak ensures maximum control with minimum effort.
Available in six versatile sizes with and without epinephrine
Buy 2 Get 1 Free
800.552.5512
Promo Code 12E03 Expires 07.31.12 Limit 2 free bottles
800.552.5512 | ultradent.com ©2012 Ultradent Products, Inc. All Rights Reserved.
Intra-office Communication Systems MAKE THE MOST OF TODAY’S TECHNOLOGY By Tess Fyalka, Managing Editor
A few years back, Dr. Kevin Theroux, an orthodontist in Lone Tree, Colo., built a new office. Everything would be new, and he wanted to make the most of the latest technology. In his former office, he and his team had relied on a light system for their intra-office communication. “I did not want to install a light system in my new office. I found them to be more expensive and less effective,” noted Dr. Theroux. He chose the Venga™ system, which is computer based and can be installed on all of the office desktops. “With computers at every chair now in my new office, this is a much better way to communicate. I like the flexibility,” he added.
“E
ach person has their own button to page and, most importantly, each has their own sound. We page one another with it and also send pop-up notes, which are like instant messages, with announcements or questions. You can set up zones, so specific employees are only paged in specific areas of the office. For instance, pages for the sterilization tech do not go off in the new patient rooms or front office. If you send a note, then the person can answer and you don’t have to get up and go find them, which saves time. Also, they can then deal with the note when they have a moment. We have a sterilization tech, and it is very helpful to page her to the chair so that she can start turning the chair over while the assistant is writing the chart,” adds Dr. Theroux, a graduate of the University of Minnesota School of Dentistry. The Venga™ system can be installed on as many computers as the office has available. The screen can be 16 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
adjusted according to the user’s preferences in terms of size and configuration of the page buttons. It’s designed to run in the background and only appear when delivering or sending pages or messages. It’s compatible with all practice management software and also newer Microsoft Windows 7, 64-bit architecture. It also accommodates offices utilizing remote stations or staff working from home. The Venga™ 5.2 system, which includes software installation, free configuration, and free training, can be purchased for $995 for 15 stations. A free 30-day trial period is provided to ensure it meets practice expectations prior to purchase. Additional stations can be added for a fee. For further information, visit www.Vengapaging.com. Dr. Theroux says the system is simple to use, and new employees typically have it mastered in “about five minutes.”
BlueNote Communicator Dr. Tamara Osina is a general practitioner in Richmond, Texas, whose practice has been using the BlueNote Communicator since 2009. She says that this system was chosen when she was building a new office, and similar to Dr. Theroux, she sought to replace the once commonly used light system and a radio system. “When I worked in another office we had used radios, and we were using them in the current office. The radio and light system had worked for us, but it wasn’t ideal. So when I built the new office, we had computers in every room, and I wanted something that felt more technologically advanced than the old systems and was more professional. I was also looking for a system that allowed for more information.”
Dr. Osina also was looking for a system that could work with the technology she was already installing in the new office. It didn’t require any more hardware or equipment. Like other systems, the BlueNote Communicator allows each staff member to have his/her own tone so that they can audibly distinguish their messages from those sent to others. The software is designed specifically for dental offices. It features a navigation bar that offers the ability to toggle between views, including a NoteBoard, where BlueNote actions are posted. Essentially, a BlueNote is an action or event that needs to happen within a practice. BlueNotes are posted to the NoteBoard in much the same manner that a to-do list can be pegged to a corkboard. When a task is complete, the BlueNote is removed from the NoteBoard. BlueNotes appear within each location where the action is needed. The team can see which patients are in the office and their locations. It also provides a messaging function, acknowledges patient arrivals, and several other features. Dr. Osina says she and her staff find that all of the features work very well for the practice. “We use the notes to each other a lot. I can send private notes to individual staff if I have a question or if I need to ask them to do something, and then they can reply back to me.” The cost for the BlueNote Communicator is $695 for a practice; it is a one-time fee. This includes 30 days of phone support, one year of priority email support, and updates for the practice. There are no per-computer license fees. All software upgrades are included for one year. In addition, there are no monthly or annual fees. For further information, visit www.bluenotesoftware.com/bluenote-communicator. “Most of today’s practices have a computer in every operatory and at every work station. This is the most discreet way to communicate. It does everything we want it to do, and it’s really the best system that I found,” says Dr. Osina.
Opera Pager About a year ago, Dr. Bryan Laskin was renovating his dental office in Wayzata, Minn. It was an exciting time. He and his team pored over every detail, including the type of intra-office communication system they wanted. It would replace the antiquated light system and be more consistent with the state-of-the-art feel of the newly designed space. “I bought what I thought was the best. It was supposed to work off a radio frequency signal, but it never worked right,
and it had these annoying tones. I’m tech savvy, but this system was pretty difficult to use. After a while, I thought it was worthless, and it had cost me $6,600.” So Dr. Laskin took intra-office communication into his own hands, literally. “I have an iPhone and an iPad, and I couldn’t understand why I couldn’t have a system using the iPad.” Together with a friend who develops apps, Dr. Laskin designed the Opera Pager. The system debuted at the Chicago Midwinter Meeting, creating considerable interest, noted Dr. Laskin, a University of Minnesota School of Dentistry graduate. “It is a ‘Cloud’-based system, so we have servers that are running all of the traffic, the logins, and the maintenance. Since it is a web-based system, it can run on any PC or Mac with an Internet connection. There is an app for the iPad, iPhone, and iTouch, which you can download from the Apple store. So you can use any computer or Apple device.” Dr. Laskin says that an Android version also is being developed. The system has three primary functions currently available. Each device is given a specific name, for example, Operatory 1, Consult, Assistant, Dr. Smith, etc. Once the application is loaded, it displays the icons for each staff member and room. “If you touch the ‘assistant’ icon, it will page the assistant to whatever room you are in using specific tones, or Dr. Jones to hygiene, again using specific tones. The icons can be configured however you want them,” explains Dr. Laskin. Additionally, the program offers a “message center” that allows users to send messages to any individual device or to a group of devices. “You can organize these however you like, by dentist or department, however it works best for your practice. You can send preselected messages, such as ‘We discussed orthodontics,’ or ‘Patient has sensitivity,’ or ‘Patient running late.’ And there is also an area where you can type in any message you want. At that point it looks just like a text message,” Dr. Laskin explains. Depending on the number of devices, the system can be purchased for $29 per month for up to 5 devices, $44 for up to 15 devices, or $59 per month for up to 30 devices, plus a $199 setup fee. No contracts are required, meaning it is a “pay-as-you-go” service, which can be cancelled at any time. Upgrades are free, meaning the system is routinely updated with the most current iOS, PC, and Mac operating systems. Additionally, Opera Pager is HIPAA compliant using a secure, web-based database. For further information on the Opera Pager system, visit www.operapager.com. “What makes this product unique is that it’s the simplest communication system out there, and all the updates are free,” notes Dr. Laskin. S U M M E R 20 1 2
WWW.THENEWDENTIST.NET
17
Dr. Ryan continued from page 14 As for the instruments that Dr. Ryan would never practice without, “I love and have always used a universal instrument known as the McCall M13-14S scaler. It’s a pointed scaler that is a great instrument to use. I also wouldn’t be without the Woodson 3 double-ended instrument. The 330 bur is as common as any out there, but I buy them by the hundreds, and I have tried virtually every bur in the market. But for the price, reliability, and efficiency, the 330 is the go-to bur. I also love the 7408 and the 7404. The 284 bur is excellent for gingival margins, or if you are placing a bevel on your margin. It is long and has a working tip. Ultradent’s retraction cord is the best, in so far as you can place it and finish up. It retracts the margins extremely well. You can work around it with your diamond bur refining your margins and your prep, and it won’t catch in your burs.” Dr. Ryan also finds that a diode laser is a must-have, and the Kavo handpieces are excellent tools. He notes that patients love the Kavo because they are very quiet. Although some of Dr. Ryan’s contemporaries might have shunned magnification when they were first introduced to
18 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
“Recognize that families are very busy and are on a tight schedule. Run on time, and respect your patients’ schedules.” dentistry, he says he’s been using it since he was 30. “I can still read the stock page, and I am 72 years old. I swear by it, and I know that dental students today all use magnification. You can’t help but be a better dentist with magnification.” Currently, Dr. Ryan is using the Surgitel through-the-lens loupes. Although Dr. Ryan has been in practice for four decades, he has embraced technology and maintained a modern, stateof-the-art dental practice using digital radiography, intraoral photography, and computerized operatories. “I prefer the laptops rather than desktops for the operatories because they are much more convenient and don’t require the tower, the monitor, the separate keyboard, and all of the cords and hardware that desktops require. They are just much easier to use.” Finally, based on some 40 years of successfully running a dental practice, Dr. Ryan reminds new dentists never to lose sight of the fact that they are in a service profession. “You have to be available for working families and their schoolchildren. Recognize that families are very busy and are on a tight schedule. Run on time, and respect your patients’ schedules. Create a fee structure that reflects today’s economic conditions so that families can afford dental care. If you do, you will stay busy and you will enjoy a comfortable and prosperous lifestyle for many years to come.”
From Student to Practitioner PerForm at Your Best As you evolve from dental student to dental professional, no one invests in your success more than Hu-Friedy. Across all areas of the dental practice, our 10,000 products and countless services help maximize patient care and business results with uncompromising quality. Performance means leveraging all your skill and education to deliver the best clinical outcomes for your patients. It’s a goal we proudly share with you.
Call 1-877-321-4333 to speak with your Schools Relationship Specialist or visit us online at Hu-Friedy.com for more information. Š2012 Hu-Friedy Mfg. Co., LLC. All rights reserved.
Keep an open mind about
LARGE GROUP PRACTICES
BY Dave Britt, DDS
G
rowing up as the son of a nurse and a physician, I always knew that working in health care was my dream. As I grew older, I started to understand how medicine and health care had changed, making it more difficult to serve patients and give them the care that they needed. When a friend suggested dentistry as a career, I found it to be a perfect fit for me. This profession meshed perfectly with how I wanted to live my life. When I enrolled at the University of Missouri-Kansas City School of Dentistry in the fall of 2004, my classmates and I were all told that the field of dentistry would be a “buyer’s market” when we graduated. However, the recessions had left many retirement accounts drained, and more dentists were staying in practice to compensate, meaning there were fewer opportunities for new graduates. Although initially I was able to find a job near St. Louis, my hometown, as the economy took its toll, there was not enough work for two dentists in the office. I decided I would go wherever I could to develop as a dentist. Aspen Dental had a job opening in Portland, Maine, a city that both my wife and I had visited and loved. After meeting the other doctors and talking with the Aspen support staff, we decided to take the offer and the adventure and relocate to Portland. Maine, being underserved in the field of dentistry, was a great place to
20 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
keep busy and gain valuable experience. Working with Aspen, I became more comfortable with the clinical aspects of dentistry, and I was able to learn more about the business side of the practice. After working as an associate dentist for about a year, I was promoted to managing clinical director of a different office in the Portland area. This provided me with the opportunity to run my own practice. As much as we loved living in Maine, my wife and I had always wanted to return to the Midwest. Now that we were expecting our first child, the desire to be closer to our families had grown, and we started looking at other opportunities within the company. An opening in Nebraska was presented, and we jumped at the opportunity to return to the Midwest. If I had been working on my own, I would have had to find a buyer, sell my practice, and also find and purchase a new practice. It could have taken several months or years to transition. With Aspen, the transition was seamless. Aspen Dental’s support from a clinical side has been invaluable as well. There are numerous offices in eastern Nebraska, and the doctors who work here are great resources for help, should I need it. Doctors who are interested in ownership have the opportunity available to them. With Aspen, there is a clear path to ownership, something that might not be on the table when joining a practice as an associate in a smaller
practice setting. The financial commitment to become a practice owner at Aspen is a fraction of what it would cost to buy a practice normally. Becoming a partner with Aspen also allows you the prospect to share in ownership of multiple offices. Doctors who are successful when investing in multiple offices are not just skilled clinicians, but great managers and leaders as well. Working with Aspen Dental has been a great and rewarding experience for me. Not having to worry about getting patients in the door or keeping the lights on next month is a luxury that most dentists in smaller practices do not have. I had a preconceived notion of what it meant to work in a large group practice; I think that all dentists do. I consider myself incredibly lucky to have been introduced to this opportunity early in my career. I would tell any new graduate: Keep your options open and expose yourself to different aspects of dentistry. The more that you are able to do, the more interesting your day will be, and you will be a better dentist for having done so. If you are a good dentist, you will be successful no matter the setting. Dave Britt, DDS, earned his dental degree from the University of Missouri-Kansas City. He practices at Aspen Dental in Lincoln, Neb. He can be reached at drbritt@aspendental.com.
Looking for Revenue? The
Estimated Value
of a First Time $ Patient is 1000 Reach them for Pennies! The economy might be down but your Patient Schedule doesn’t have to be.
A Direct Mail Campaign Can: Target the Patients You Want Generate Revenue Fit Any Budget
29
¢
.95
PER PIECE INCLUDES
POSTAGE & MAILING LIST
*Price per month at 10,000 pieces. Available as a 6 month or 12 month new General Dentistry campaign. Please call for details.
S OUR
C
G
S
N
MADE IN THE USA
GI VI
BS
UT
G
JO
O
IN
NO
Call 866-693-5424 Today To Find the Campaign That Fits Your Needs!
TM
Nationwide - USA l Headquarters: Phoenix, AZ l toll free.1.866.693.5424 sales@affordableimagedental.com l www.AffordableImageDental.com
AM
ERICA
N
Is Your Recall System Costing You Thousands of $$$? Hygiene profitability is a multi-step process, but you can make significant inroads if you focus on one critical point: Recall. It is number one on the list of patient retention and revenue-boosting strategies and, most importantly, it automatically improves service to patients. The key is to convey importance and value – not cheap and cheesy. Some practices do nothing more than send the ultracheap and unprofessional little 3-by-5 postcards. These are commonly adorned with pictures of cartoon characters or puppy dogs and are printed with inane comments like, “It’s time for your routine cleaning. Call us today 555-1212.” If ever there were a method to totally minimize the importance of this essential patient service, this is it! These scream cheap. You want the patient to invest in a $2,000 treatment plan, but you won’t spring for more than 32 cents in postage and a one-line message? Think about it. Recall is your reputation. The tools you use to promote it either convey the image of a health care provider that is offering a valuable and necessary service … or they don’t. Moreover, recall is your primary practice feeder. A successful recall program is indicative of a thriving and healthy practice. You have to manage recall – or practice profitability gets hammered. In fact, 95% of the practices that seek consulting services through McKenzie Management, a nationwide practice management consulting firm, are losing $35,000-$150,000 annually because of a weak recall system. This says nothing of the thousands of dollars in additional dentistry that also disappears. A successful recall system helps patients to secure the dental care they need in a timely fashion, which would be one of the primary responsibilities of your practice. But it doesn’t take care of itself. Take these steps and shore up recall today. First, communicate with patients using professionally developed materials. Next, assign the job of “patient coordinator” to one person – NOT the hygienist. The coordinator is professionally trained to communicate effectively with patients. S/he should be given uninterrupted time to carry out the following responsibilities: • Make a specific number of patient phone calls each day in a specific amount of time. • Work with the practice management software to send email and text message reminders to patients to supple22 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
ment professionally printed reminders and phone calls. Schedule a defined number of appointments. Ensure that a certain number of patients complete treatment. • Schedule the hygienist to achieve a daily or monthly financial goal. • Manage a specific number of unscheduled time units in the hygiene schedule per day. A good patient coordinator should be able to manage a patient base of 500-1,000 on an average of 15 hours per week at an hourly rate of about $15-$18. Obviously, reactivating a few inactive patients pays for the position quickly. Monitor patient retention. Each month, divide the number of patients due to be recalled for prophies that month by the number of prophies performed. While you are at it, take a close look at the effectiveness of your six-month scheduling efforts. Typically, this creates merely an illusion that the schedule is full. Because patients’ lives are as busy and unpredictable as our own, oftentimes practices that rely exclusively on booking patients six months out average only about 76% patient retention and have a nearly 50% higher loss of patients than similar-sized practices that do not preappoint. Although this is a practice that many offices are wedded to, it is essential that you track the number of prescheduled patient cancellations. Consider offering patients, particularly those that have a higher no-show or last-minute cancellation history, the option of being contacted two-to-three weeks prior to when they are due to schedule. You just might find that these patients join the ranks of your most loyal and reliable. Finally, offer reasonable financing options for patients. Establishing a relationship with a patient financing company, such as CareCredit, makes treatment more affordable and more likely patients will proceed with both necessary and elective dental treatment. Send a professionally printed announcement to your inactive patients informing them that patient financing is now available. • •
Determining Where to Practice: The Rules Have Changed Churned The basic assumptions about where to practice in the United States have just come out of the “blender.” The rules have changed. What we assumed for years to be true is not dependable anymore, and we hope that new dentists will be aware of the changes and take our recommendations to heart. BY SCOTT MCDONALD
D
entists tend to look at a relatively small number of statistics about an area to reach their conclusions about its viability and character. For example, they will look at the population-per-dentist ratio, growth, and income. While they often lack an understanding of the meanings of these numbers, at least knowing that one area has a better population ratio than another, has some growth, and has more money than an alternative site can appear to be sufficient information to make broad conclusions. Unfortunately, this current economy is a game changer. The nature of dental practice has been changing due to some important but somewhat hidden factors. These will dramatically shift the viability of a site but not appear in a list of demographic statistics. For example, we note a significant change in the following: 1. The length of time a dentist will stay in practice. 2. The age of a dentist when he or she retires. 3. The costs and difficulty of setting up a new practice. 4. The length of time people will stay in their homes (before moving). Each of these four factors is changing the way that 24 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
we look at the viability, desirability, and practicality of either purchasing a practice or starting one from scratch. Our company has had to go back to the drawing board to generate algorithms that will match the “new reality.”
Length of Time a Dentist Will Practice There are many reasons why this data has changed (we are basing this on our internal data). The mature professional in the last three years may have seen the value of his home, the size of his retirement account, and the debt load he is bearing change. Many have lost as much as 50% of the value of their assets in about three years. They don’t want to change either the location or model of their practice. The result is a reduction in “churning.” It is worth a quick explanation that all jobs “churn.” CONTINUED ON PAGE 30 >>
Scott McDonald is owner of Scott McDonald & Associates, Inc., the nation’s largest vendor of demographic and psychographic data and analysis for doctors in the United States. You can contact Scott at www.DoctorDemographics. com or by calling (800) 424-6222.
Scheduling DR (Digital Radiography)
Chart
iPad Interface Clipboard App
iPhone Interface
MacPractice DDS 4.1
EDR (Electronic Dental Record) Orthodontic / Endodontic Charting
Notes Attachments
MacPractice EHR Certification - MacPractice DDS 4.1 is 2011/2012 compliant and has been certified by CCHIT速, an ONC-ATCB, in accordance with the applicable certification criteria for Eligible Providers adopted by the Secretary of HHS. This certification does not represent an endorsement by HHS or guarantee the receipt of incentive payments. CCHIT速 is a registered mark of the Certification Commission for Health Information Technology.
MacPractice 4.1 CC-1112-769760-1
Visit MacPractice.com for product information, events, screenshots and a demo.
DENTAL STUDENTS: What’s on Your Mind?
Boston University Dental Students Compete in Boston-Area Debate
S
tudents from Boston University’s Henry M. Goldman School of Dental Medicine (GSDM) participated in the first annual District 1 Debate against dental students from Tufts University and Harvard University held at Tufts University in February. GSDM and Tufts have held debates against one another for the last few years, but this was the first debate with all three Boston-area dental schools. Debate topics included: 1. Mid-Level Providers: Do mid-level providers serve to increase accessibility to dental care in neglected communities, or do they compromise the overall quality of care administered?
2. National vs. Regional/State Licensure: Would a national license
recognize that the standard of care should not be determined by state lines, or might it hinder the distribution of dentists nationwide? 3. Mandatory PGY-1: Are states such as New York justified in requiring the completion of a oneyear post-graduate program for dental licensure in lieu of an examination? 4. Patient-Based Exam vs. Portfolio Review: In granting dental
licensure, is a portfolio review a sufficient replacement for the patientbased exam, which carries many widely recognized unethical aspects? 5. Dental Schools at Osteopathic/ Naturopathic Colleges: Are students at
dental schools associated with institutions of non-allopathic medicine
26 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
Photo courtesy of GSDM
6. Esthetic Dentistry as an ADA-Recognized Specialty: Should
Debate team, alternates and judge: James Lee DMD ’14, Julian Camastra DMD ’15, Sameet Gill DMD ’14, Mohamad Kamel DMD ’13, Dhiren Agrawal DMD ’13, Dr. Daniel Morgan, Marc Horton DMD ’14, Darshit Shah DMD ’13, Ginee Jain DMD ’13
esthetics be recognized as a dental specialty by the ADA, or is it merely a field within the scope of general dentistry? Tufts was the winner, defeating Harvard in the final round of the debate. Harvard defeated GSDM in round 1 of the debate. Said GSDM debate team organizer and alternate James Lee DMD ’14, “This year’s debate was a great experience for everyone involved. Although
we didn’t win, we accomplished our goal of raising awareness and furthering discussion about important issues facing dentistry today.” The team included dental debaters Mohamad Kamel DMD ’13, Sameet Gill DMD ’14, Marc Horton DMD ’14, Darshit Shah DMD ’13, Dhiren Agrawal DMD ’13, and Julian Camastra DMD ’15.
receiving the same quality of education as those students at schools with a curriculum based on traditional medicine?
Bank of America Practice Solutions Promotes Opportunities Purchase an existing practice or start a practice from scratch. At Bank of America Practice Solutions, you can rely on our industry leadership. We have performed thousands of each type of transaction, and understand the challenges that accompany them. Let us help you get the right financing. We encourage you to call the experts at Bank of America Practice Solutions to discuss.
Practice Acquisition: ◆
Up to 100% financing for your practice — up to $5,000,000.
◆
Practice Start-up: ◆
12-month interest-only options for lower payments initially.
Up to 100% financing for everything from architectural fees to construction, to equipment and cabinetry.
◆
Working capital to help you get started.
◆
Principal reduction and early payoff options.
◆
Terms up to 15 years.
◆
Practice purchase and real estate combination loans.
◆
Up to 36 months of graduated payments.
◆
Up to 12-month rate lock through the project build-out phase.
◆
Demographic Site Analysis to help you select the ideal location and attract the patient base you want.†
◆
Access to our complimentary Practice Heartbeat® program.♥
◆
Working capital to help you with the transition.
◆
Terms up to 15 years.
◆
Access to our complimentary Practice Heartbeat®program.♥
Want to know more?
Proudly endorsed by:
Call Jason Tyson at 1.877.541.3535, or send an e-mail to jason.m.tyson@bankofamerica.com. Mention Priority Code ADDMCK12. You can also visit us online at www.bankofamerica.com/practicesolutions. * All programs subject to credit approval and loan amounts are subject to creditworthiness. Some restrictions may apply. Bank of America Practice Solutions may prohibit use of an account to pay off or pay down another Bank of America account. ♥ Bank of America Practice Solutions makes no express or implied warranties with respect to any aspect of the Practice Heartbeat® program, nor does it guaranty any success or promise any results, and hereby disclaims the same to the extent allowed by law. The opinions of Bank of America Practice Solutions are based upon prior experience, and it makes no promise or guaranty that you will achieve any particular measure of success or results by participating in the program. You are not bound by any recommendations provided under this program and retain full responsibility for the results achieved by your professional practice. † Bank of America Practice Solutions engages Scott McDonald & Associates, a national marketing firm specializing in demographic research, site analysis and profile reports for health care professionals to produce a demographic report to assist health care professionals in evaluating where to locate their professional practices. Scott McDonald & Associates charges a fee for this service, which is passed on to the customer. Bank of America is a trademark of Bank of America Corporation. Bank of America Practice Solutions is a division of Bank of America Corporation, N.A. ©2012 Bank of America Corporation
DENTISTRY… PHOTO COURTESY OF KICK YOUR APPS
There’s an App for That
Dentists have access to a variety of other apps in the marketplace, Including iRomexis, which is a comprehensive 2-D and 3-D image viewer application for the iPad. It can display all image types acquired from Planmeca X-ray units, including Planmeca ProMax 3-D and ProFace 3-D photos. The images can be used for patient education and communication as well as for consultation with colleagues. Images acquired with Romexis desktop software can be shared with mobile devices anywhere, allowing for zoom and measurement of images, viewing of ProFace 3-D photos and surface renderings, adjustment of image brightness and contrast, snapshot capture, and image transfer. It also has the ability to search and list all patients and images on the Planmeca Romexis server. ePocrates Rx is a free mobile clinical reference library. It includes a drug guide, formulary information, and drug interaction checker. This product also includes free continual updates and medical news. It is also available in versions that include information on disease diagnosis, including images, diagnostic tests, insurance codes, alternative medicines, and a medical dictionary for prices ranging from $99 to $199 per year. Lexi-Comp’s Lexi-Dental Complete app is a library of dental resources. It includes drug information and effects, images of several dental procedures and conditions, patient resources, information on laboratory and diagnostic procedures, a dental office emergency handbook, natural product information, Stedman’s Medical Dictionary, and numerous other resources. An annual subscription costs $285, however the product can be downloaded for a free 30-day trial. Medscape from WebMD includes information on drugs, OTCs, and herbals; drug interactions; diseases and conditions; and procedures and protocols, along with expert panel tips. Air Display enables you to make the iPhone, iPad, or Mac a second monitor. It enables patients to see whatever is on the dentist’s monitor, be it intraoral camera pictures, digital X-rays, etc.
DDS GP for the iPad, iPhone, and Android is the fastestgrowing, highest-rated dental app on the market. DDS GP is a patient education app that sells for $399. Users pay the fee once and can put the app on as many devices as they would like. There are no charges for updates or subscription fees. It is designed to reduce consult time while increasing patient understanding of diagnoses and treatment options. Dental Anywhere™ is a patient relations app for dental practices. With apps for general dentists, orthodontists, pediatric dentists, and periodontists, the apps help patients access the dental office, access treatment plans, request appointments, get directions, manage emergencies, and more. The Dental Anywhere™ mobile app is all inclusive with basic modules or can be completely customized for specific practice needs. My Dentist enables dentists to stay connected with patients at any time. Patients can contact the dental office, request an appointment, and access pre- and post-op instructions. Dental Manager can calculate dental costs and construct a treatment plan for individual patients. It can also keep track of patients with photos, contact information, and detailed notes. The app is also said to make it easier to share information among colleagues. Dental Expert is a resource to help provide patients information about what the dentist does and why. It offers general information, including tips to maintain good oral health and hygiene and options for individuals with missing or damaged teeth, and explains more complicated procedures such as root canal. All Things Dentistry is primarily for dental students and other dental professionals, helping them to be aware of new clinical and lab techniques in the industry. It also provides access to a variety of dental materials, allowing users to search topics including anesthesia, implants, ortho, endodontics, and oral surgery. The app also provides videos of certain procedures.
Do you have a favorite app for that? Visit The New Dentist blogs and tell us about it at www.thenewdentist.net.
28 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
It’s about time! (Your Time)
Your practice has evolved...your communication should keep pace Developed for state-of-the-art dental and medical offices, Venga is the most flexible, feature-rich communication software available today. It streamlines your office, helping you communicate more clearly, more directly and even more discreetly than ever before. Give Venga a try in your practice. We offer a free 30 day trial along with personalized training — all before you buy! With more than a decade of experience improving communication and workflow, we’re sure you’ll find Venga an indispensable tool.
Version 5 New Features A host of new message icons and sounds Use Procedure Timers and do away with egg timers Instant messaging (one-on-one or as an entire group) Spoken pages! Venga can talk to you. “Dr. Jones to Op 1” External messaging. Send and receive emails and texts Compatible with Terminal Server, Citrix & VPNs vNotes — a different twist on traditional paging
“With over 40 computers in our practice, communication is critical. Venga fits the bill perfectly. It’s there when we need it and stays out of the way of our PM software.” -Dr Paul Bothun, Grand Forks, ND
Effyx Corp. 800.255.3204 sales@effyx.com • www.vengapaging.com
Mention Discount Code ND412 for an extra 10% discount!
Attorney
continued from page 8
Reviewing the Existing Lease As is the case in a startup, your lease is one of the most important assets you will be acquiring when you purchase a dental practice. As indicated above, there are numerous issues that you must have reviewed in order to protect your investment. Reviewing and Modifying the Purchase Agreement Knowing what is required in order to protect your future career and your investment is instrumental when choosing your attorney. A properly structured agreement should prevent the seller from competing with you subsequent to the closing; properly deal with accounts receivable and uncompleted work; protect you with numerous seller representations and warranties; dictate how retreatment will be performed; and indemnify you from the seller’s actions prior to your acquisition of the practice, as well as numerous other issues that deal with patient retention, the transfer of the goodwill to you, staff issues, etc. The important thing to remember is that no one ever wants a transition to “go south,” but the reality is that they sometimes do. A properly structured purchase agreement will, hopefully, protect you from this and, more importantly, provide you with a very clear picture for a judge if you are forced to litigate. Proper Entity Selection As stated above, you need to make sure you are set up properly in accordance with your various state rules, regulations, and laws pertaining to how a dentist can legally operate. The decision to start a dental practice or acquire an existing office will be one of the most important decisions you will make in your professional career. The decisions you will have to make throughout this process are complicated and unique to the dental profession. The attorney you choose to assist you will uniquely shape the fortunes of your future. The more they understand what you are going through, the more they can help prepare for that future. The question shouldn’t be whether or not to consult an attorney during these important decisions; the question should be: Which rock star dental attorney do I need on my team for this particular transaction?
Practice Churning
continued from page 24
There is a time when people either will retire or simply move to a better-paying job in order to enhance their prospects. This always involves risk. As the Wall Street Journal notes (WSJ 30 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
2/8/12, “Little Room for New Workers” by Ben Casselman), “A humming economy usually means a high rate of ‘churn’ in the work force: employees voluntarily leaving one job for another … One worker’s exit from a job opens the way for someone else to jump onto the ladder.” In the work force, this has been reduced by more than one-third the normal rate in a month. We first became aware of this phenomenon in Greater Philadelphia, PA. We noted that the number of practices for sale over a six-month period of time had dropped suddenly. The explanation for this was difficult to find at first. Did it mean that no one wanted to retire? Certainly not! But there was a force that was influencing the availability of practices for sale, as well as associate positions that were open. After a while, we realized that the natural churning of dental positions had dropped off in this area. It is difficult to quantify the reduction in churning in dental positions, but it is an understood reality for new dentists. The bottom line seems to be that there are simply not the number of opportunities to purchase a viable practice or even to explore communities that once had openings for new dentists.
Age of Retiring Dentist This is related to the first point, but we have to recognize it as a different problem. While the length of time a dentist stays in practice (especially at a particular office location) is important, the gross number of dentists per population in active practice is increasing as the dental work force is not “turning over” because the age of dentists in practice has increased. Where we once saw dentists in their early 60s looking for the exits, now we are seeing more and more dentists practicing into their 70s. Once again, we cannot point to a definitive study that records this data from county to county or state to state, but we see it in the communities we track. We see it as a strong anecdotal case for this conclusion. It is not as though they are avoiding retirement at a more traditional age. They want to retire and do all those things they dreamed about when they started their careers. Most don’t feel that they can. Many are simply afraid of the risk of giving up their livelihood. That is why we note that so many dentists who would normally have retired at a certain age are hanging on a while longer. Cost and Difficulty of Setting Up a New Practice For those of us who have been around a few decades helping dentists get set up in practice (either by purchase or a startup), we can say definitively that it is much more complex than it once was. If we look only at labor laws and the associated paperwork, the effort is formidable. The whole mess regarding dental insurance is another morass of regulation and decision-making for which even the most experienced professional needs help.
All of this spells more risk to the practice owner. It certainly has not helped that dental school has become more expensive relative to the compensation the average new dentist can expect in the first years of practice. With greater student debt and another plunge into debt to set up practice, one cannot afford to be casual in the business of being an associate, let alone taking over a practice. The name of the game is to mitigate your potential risk at the beginning of the process.
Length of Time People Will Stay in their Homes There is a statistic that we track for our clients that few dentists, consultants, or demographers consider. It is the “length of time in residence.” What we are looking at here is the amount of “churning” of residents. If we take an area like Uptown Manhattan, there is almost no growth at all. On the other hand, the housing market is active with many people moving into the neighborhoods and out again as they change jobs. By contrast, Long Island (or most parts of it) are showing little residential churning. Sometimes parts of large metropolitan areas will have great opportunities NOT because they don’t have dentists. Instead they may hold promise because there is a large group of people that no one is reaching out for. One demographic group may be displacing another. So, if you are standing still, the currents of the area’s demographics will ebb and flow. You just have to know how to anticipate the new rules of the churn. Just as many dentists are reluctant to leave their practices, they are also reluctant or unable to sell their homes. A far larger percentage of people are “upside down” than the media reports. Granted, this is usually reported as owing more on a mortgage than the property is worth. But when we consider many people’s overall debt relative to their assets, it is obvious that moving represents a far greater risk (and expense) than homeowners bargained for. In other words, they can’t afford to move even if they wanted to do so. Therefore, the people who own homes are OLDER on average than the residents in the area used to be. Obviously, people get older. But as their family condition changes (as when children go off to college), they are not moving to accommodate their new situation. Hence, younger people cannot purchase the existing homes of those who would otherwise have sold their properties. That is what makes the median age of residents older. Conclusions and Recommendations All of this can seem pretty bleak. That does not mean, however, that new dentists need to consider themselves victims. Here is what we recommend: 1. Get a demographic consultant who knows dentistry rather than relying upon data that has no analysis. Casual reviews of numbers, rumors heard over dinner,
2.
3.
4.
5.
6.
and unfocused Internet searches will only add to confusion and wrong choices. Experts can look at the same numbers that you do and see an entirely different landscape of possibilities. That is why it is worth the time and the money to get a demographic expert in the profession to give you advice as early in the site selection process as possible. Get a management consultant with a proven track record. No one fixes their new car in the shade of the tree in the backyard anymore. Have you even SEEN what transmissions look like these days? For the same reason you need a shop with the right diagnostic and repair tools, you need a consultant who has “been there and done that” from the very beginning to help set up your books, hire your staff, and advise you on equipment purchases. An expert will more than pay for him/herself. Make sure whoever is advising you understands the real estate market in the area you are considering. There are so many “rules of the road” that are local, it can be easy to make a mistake. There is nothing to replace a good commercial realtor. Be a little creative in the locations in which you would consider a practice. Yes, yes, we love Austin, Texas. And so do many, many dentists already. Ditto for Boston. Ditto for Atlanta. But within these states (and even within these metropolitan areas), there may be places that will work for YOU but may not work for everyone. It is always wise to match the place with the doctor because this profession is not “one size fits all” in every location. Consider some variety in the practice model you want to pursue. As a matter of fact, there are many franchise practice models that are working. The corporate model works for some but not for others. Boutique practices with several locations (or satellites) may be the best option. Multi-specialty practices that promote themselves together might work well in a particular place. There are even practices that don’t need to compete with neighboring offices because their offerings are, well, unique. Get busy while you are in school or working as an associate. Don’t sit on your hands! Before you know it, you will be making key decisions on your career and suffering because you have so little time. We say: Get searching. Success will not tap you on the shoulder and ask, “Are you ready yet?”
visit www.thenewdentist.net #1 Web-site for New Dentists S U M M E R 20 1 2
WWW.THENEWDENTIST.NET
31
SKINNY
on the Street
The latest news on products and services for new dentists and their practices G.Comm POLARIS® LED Light POLARIS® LED is the only light for dental application with color temperature (4.200-6.000 Kelvin) and light intensity (8.00035.000 lux) adjustment. Recent studies have shown that adjusting the color temperature in surgical treatment increases concentration and contrasts between different soft tissues. Absence of UV (UltraViolet) and IR (InfraRed) radiation increases comfort. POLARIS® LEDs are made entirely in aluminium, which can be dust painted in all RAL colors, and handgrips can be sterilized. Movements on three axes make POLARIS® very flexible in each position. For further information, visit www.flightdentalsystems. com or call toll free 866.799.0517.
Trx Plan Generator
WAMkey
Trx Plan Generator is a software utility available on both Mac and PC computers. It streamlines and simplifies the treatment planning process using a simplified pointand-click interface. Complex reconstruction cases can easily be treatment planned in a few minutes. Developed by a dentist to quickly produce comprehensive plans, this program speeds development of optional treatment plans if needed. Printed reports include customized, patient-oriented narratives and clearly formatted treatment plans. The narrative report is very detailed and offers the patient a clear and concise explanation of their dental problems. For further information, visit www. DentalTrx.com or call 800.876.0644.
Offered by Golden Dental Solutions, inventors of the Physics Forceps, the WAMkey is designed to remove cemented crowns rapidly and painlessly without risk of fracture or ligament injury. It removes the crown from the vertical axis of the supporting tooth and reduces unwanted stress on the tooth and prosthesis. This results in quick and pain-free crown removal, avoiding lateral movements to adjacent teeth ordinarily generated while splitting the crown with other types of instruments. Since the crown is not split and the margins are unaltered, the dentist may choose to use it again, either permanently or temporarily. The technique is quick and easy to perform. For further information, visit www.goldendentalsolutions.com or call 877.987.2284.
INDEX O F A D V E R T I S E R S Advertisers in this issue of The New Dentist™ have made it possible for you to receive this publication free of charge. Please support these companies. Contact information can be found below, or visit the Resource section at www.thenewdentist.net to receive information from more than one company. Affordable Image................. 21 www.AffordableImageDental.com 866-693-5424
CareCredit......................... IFC www.carecredit.com/dental 800-300-3046
Keller Laboratories, Inc..........7 www.kellerlab.com 800-325-3056
American Eagle Instruments............................1 www.am-eagle.com 800-551-5172
Dental Dreams..................... 18 Danielle Tharp 312-274-4524 Juliette Boyce, PHR 312-274-4520
Live Oak Bank..................... 13 www.liveoakbank.com/newdentist Keith Merklin 877-890-5867 Mike Stanton 866-954-8362
Aspen Dental....................... 11 www.aspendentaljobs.com/192 866-748-4299 Bank of America.................. 27 www.bankofamerica.com/ practicesolutions 877-541-3535 Priority Code ADDMCK12
NAPB.................................... 23 www.napb1.com 888-407-2908 Practice Cafe...........................5 www.PracticeCafe.com 888-575-CAFE (2233) Ultradent Products, Inc....... 15 www.ultradent.com 800-552-5512
Henry Schein Professional Practice Transitions........... IBC www.henryschein.com/ppt 800-730-8883
MAC Practice....................... 25 www.macpractice.com 646-305-9008
Venga.................................... 29 800-255-3204 www.vengapaging.com
Hu-Friedy............................. 19 www.hu-friedy.com 877-321-4333
McKenzie Management.......BC www.mckenziemgmt.com 877-777-6151
Wood & Delgado Attorneys at Law....................9 www.Dentalattorneys.com 800-499-1474
visit thenewdentist.net/resources FREE information from our Advertisers 32 WWW.THENEWDENTIST.NET S U M M E R 20 1 2
Midwest Business Capital......3 www.midwestbusinesscapital.com 877-751-4622
12PT6315
When It’s Time to Buy, Sell, or Merge Your Practice You Need A Partner On Your Side For a complete listing, visit www.henryschein.com/ppt or call 1-800-730-8883 ALABAMA
Northwest-Cutting-edge practice, Digital, GR $700K #10110
ARIZONA
Tuscon-4 Ops, Immaculate, Well-established, GR $700K #12122 Tuscon-5 Ops, 1850 SF, Highly successful, Real estate available #12121 Tucson-4 Ops, 1400 SF, Dentrix & Dexis #12111
CALIFORNIA
Bishop-5 Ops, 1800 SF, Practice-Building for Sale, GR $1M+ #14390 Danville-3 Op Endo Practice, 1000 SF, GR $335K #14387 Fresno-Merger opportunity-IV Sedation practice, GR $933K #14250 Fresno-General Dentistry facility only w/3 equipped Ops #14383 Lancaster-4 Ops, 2360 SF, GR $676K #14376 Lemoore/Hanford-3 Ops, Practice & Building, GR $378K #14375 Lindsay-2 Ops (3 Available), Practice & Building for Sale, GR $330K #14363 Pleasanton-5 Ops, Excellent location, Beautiful, Must See! #14364 San Diego/City Heights-3 Chair office, Pan #14321 Santa Barbara-4 Ops, Dentrix, GR $974K, Adj Net $370K #14382 Santa Cruz-4 Ops-Room for 1 more, 1855 SF, 6 Days hygiene #14361 Tracy-1250 SF, Remodeled pedo practice, GR $677K 14378 Carmichael-Must be sold immediately! 4 Ops, 1950 SF, GR $1.9M+ #14388 Chico-5 Ops, 2400 SF, 7 Days hygiene, Laser, Dentrix, GR $1.2M+ #14392 Grass Valley-5 Ops, 1950 SF, GR $545K #14372 Grass Valley-3 Ops, GR $307K, Adj Net $105K #14337 Grass Valley-4 Ops (5 Available),1555 SF, GR $491K #14379 Greater Chico-4 Ops, 1200 SF, GR $584K, Adj Net $152K #14359 Lakeport-8 Ops, GR $904K, Adj Net $302K #14338 Northern-4 Ops (5 Available), 1770 SF, GR $638K #14251 Plumas County-3 Ops (4 Available), 1245 SF, GR $475K #14318 Roseville Area-5 Ops, 1887 SF, GR $689K #14381 Sacramento-7 Ops, 2400 SF, GR $546K, Adj Net $159K #14374 Anaheim-3 Ops, 3 Day work week, Laser, Dentrix, Intraoral, GR $253K #14391 Glendale-FACILITY SALE! 1760 SF #14373 Irvine & Costa Mesa-Combined practices, GR $781K, Adj Net $369K #14355 Laguna Niguel-4 Ops, 1500 SF, Pan, EZ Dental #14352 San Bernardino-12 Ops, 4500 SF, Multi-specialty, GR $972K #14377 San Diego-3 Ops, 950 SF, Dentrix, Pan, GR $414K #14356 San Diego-3 Chair office, Pan, Intra Oral Camera #14321 Torrance-3 Ops, 800+ SF, GR $413K, Adj Net $203K #14369 Fremont-4 Ops, Modern, Facility+Equipment sale only #14385 San Francisco-4 Ops, 1000 SF, In heart of Financial District, GR $1.2M #14389 Santa Clara-BUILDING Only! 2 Units, 3776 SF #14368
COLORADO
Denver Metro Area-Experienced Dr looking to purchase GP #15103
FLORIDA
Hialeah Gardens-4 Ops, 1 Hygiene, GR $752K #183804 Miami-3 Ops, Digital Sensors + Pan #183803
GEORGIA
Atlanta-Looking to expand, GR $942K #19138 Dublin-GR $1M+, Asking $825K #19107 W Georgia-Modern, Great opportunity #19140 W Georgia-Wonderful opportunity, FFS, GR $690K #19143 Suburb of Atlanta-Beautiful, Large general practice, GR $850+ #19145
HAWAII
Maui-4 Ops, 1198 SF, Pano, Laser, I/O Camera, GR $636K #20101
ILLINOIS
Chicago-9 Ops, Multi-Dctor, GR $1.8M #22140 DuPage County-3 Ops, Very profitable w/growth potential, GR $544K #22144 Kankakee County-4 Ops, Nice location, GR $250K #22143 North Central-4 Ops,Beautiful modern office, GR $850K #22141 Northwest-Growth potential, GR $550K #22137 SW Suburbs of Chicago-5 Ops, Good Growth Potential, GR $400K #22147 W Suburbs Chicago-3 Ops, Building Also Available, GR $600K #22146 W Suburbs Chicago-6 Ops, Well-established #22142 W Suburbs Chicago-Qualified buyer to buy/merge #22135
INDIANA
Central-4 Ops, Building also for sale, GR $400K #23114
KANSAS
East Central-3 Ops, 1600 SF, Growing Community, GR $392K #25101
KENTUCKY
Louisville-Great starter practice/merger #26104
MICHIGAN
Metropolitan Detroit-Specializing in implants/crown/bridge #313502 Detroit Metro Area-For immediate sale #313505 Southeastern-Mobile Dentist, Great opportunity, GR $800K #313504 Sturgis-7 Ops, Great location, Bldg also for sale, GR $444K #313512 Traverse City-3 Ops, Prime location, GR $397K #313507 West-5 Ops, 2000 SF, Well-established pediatric practice, GR $520K #313501 Western (Just Outside Grand Rapids)-GR $600K #313506
NEW JERSEY
Camden County-6 Ops, 3000 SF, Digital #392151 Central Jersey-Well-established pediatric practice, GR $945K #392145 Marlboro Township-Space Only, 4 Equipped Ops, 1600 SF #392152 Monmouth County-Hi-Tech 7 Ops, State-of-the-Art, Digital #392140
NEW YORK
Onondaga-4 Ops, State of the Art #412338 Queens-Well-established, 3 Ops, Booming location #412337 Brewster-6 Ops, PPO/FFS, 55 Mins from NYC, GR >$1.25M #412340
NORTH CAROLINA
Alamance County-Well-established w/Updated equipment #42182 Cabarrus County-Well-established, Excellent location, Digital #42179 Eastern-4 Ops, Great "Small Town" practice #42174 New Hanover County-Practice on coast, Growing area #42145 Northwest-Seasoned practice in small town, Bldg available #42178
NORTH DAKOTA
S Central-Wonderful productive rural practice, GR $696K #43102
OHIO
Centerville- 4 Ops, 8 days hygiene, Profitable, GR $680K #44163 Centerville-4 Ops (Room for 5), Very profitable, GR $900K+ #44162
© 2012 Henry Schein, Inc. No copying without permission. Not responsible for typographical errors.
Dayton-Well-established, Available immediately, GR $430K #44165 Greene County-Well-managed, Low overhead, Large professional bldg #44160 Mason/West Chester-5 Ops, State-of-the-Art, GR $2M+ #44177 N Cincinnati-Excellent net profit 4 days/week, Immediate sale #44172 Warren County-Very profitable, FFS, Digital #44176 Medina- Associate to buy 1/3, Rest of practice in future #44150 Scioto County-3 Ops, Excellent practice, 3.5 Day work week, GR $350K #44179 Toledo-Immediate sale, Well-established, Real estate available, GR $383K #443902
PENNSYLVANIA
Berks County-State-of-the-Art, Digital, GR $727K #472001 Bradford County-4 Ops, 2700 SF, Borders NYS, Digital, Pan #472094 Center City Philadelphia-3 Ops, Well-established #472098 Delaware County-3 + 1 Ops, Hot area, FFS, GR $196K #472004 Northeast Philadelphia-4 Ops, 1200 SF, Home office #472096 Snyder County-5 Ops, Contemporary design, Bldg also available #472087 South Central-5 Ops + 3, Well-established, GR $766K #472002 Southern Schuylkill-5 Ops, State-of-the-Art, Digital, GR $746K #472000 Cumberland County-4 Ops, Well-established #472003 Lackawana County-5 Ops, Stand-alone bldg w/parking #472007 Lancaster County-3 Ops (Room for 3 more), 2200 SF #472097 Northampton County-4 Ops, Well-established, Pan #472092 Wayne County-Beautiful 9 Ops, Dentrix, Pan, Real Estate available #472093 Northeast of Pittsburgh-3 Ops, Victorian Mansion, GR $1M #47140
TENNESSEE
Clarkesville-Excellent opportunity, GR $800K #51116 Maryville-Great practice, Growing community, GR $739K #51109 South Middle-Great practice for Young DDS, GR $375K #51122 Tri Cities-TMJ practice, GR $290K #51119
TEXAS
Abilene-3 Ops, Very profitable, Real estate available, GR $521K #52109 Tarrant County-5 Ops, Well-established, GR $340K #52108
VIRGINIA
Loudoun County-4 Ops, Digital Pan & X-Rays, High volume area #552406 Loudoun County-4 Ops, Well-established, Real estate available, GR $716K #552405
WASHINGTON
Seattle-Well-established Pedo practice, 4 Ops, GR $402K #56103
WISCONSIN
Southeastern-7 Ops, 6500 SF, Bldg + Practice package deal, GR $1M+ #58121 Waukesha County-3 Ops, Excellent opportunity, GR $300K+ 58122
Practice Start Up PROGRAM Practice Acquisition PROGRAM 2 Days, one-on-one training. Preferred time 3 to 18 months prior to opening or purchase. 6 Months of follow up support.
Dr. Alan Shelhamer is a Successful Start-Up Oral & Maxillofacial Surgeon in Carlsbad, California
Training location La Jolla, CA or your city. Training and support materials. 16 Hours of AGD CE credits. Available for General Dentists and Specialists
ENROLL TODAY and receive Realizing The Practice’s True Potential, a 5-Hour DVD Set
FREE
“I would absolutely recommend this for any new start up. I have been out of dental school 14 years and learned more about the business of dentistry in 2 days than I had in all that time before. I both enjoyed and benefited from the program.” — Alan Shelhamer, DDS, Diplomate, American Board of Oral & Maxillofacial Surgery
View course curriculum at w w w.mckenziemgmt.com/cons-star t u p. ht m and w w w.mckenziemgmt.com/prac ticeacquisit i o n . ht m
1.877.777.6151 info@mckenziemgmt.com