New Dentist Summer 2015 by The New Dentist

THE #1 JOURNAL FOR NEW DENTISTS

Dentistry FOR SALE What Makes a Patient Buy Into a Treatment Plan?

PLUS Dr. Feuerstein on Technology Must-Haves Preparing for Maternity Leave How to Select an Associate Opportunity SUMMER 2015

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Patient Check In

iEDR

FROM THE PUBLISHER’S DESK

Dear Readers,

Advisory Board

Welcome to the summer issue of The New Dentist™ magazine.

onflict is a part of daily life, and your practice isn’t immune. How you deal with conflict, however, is an important part of your practice’s success. Unresolved conflict can cost you time, money, and maybe even employees. Here are my eight tips to help reduce conflict in your practice and keep your staff members working as a team toward one common goal – your practice’s success. 1. Take the emotion out of it. React to conflict strategically. Privately discuss the situation with the employees involved and come up with a solution together. 2. Choose to be positive. When conflict brings negativity to your practice, stay positive and focused on finding a solution. 3. Don’t talk about team members when they’re not there. To end gossip before it starts, tell team members to only talk about co-workers when they’re in the room. 4. Hold daily huddles. Morning huddles provide an opportunity for you and your team to communicate and address issues that could lead to bigger problems later. 5. Hold your team accountable. Meet with your team monthly. Discuss what’s happening in every system and how performance can be improved. Communicate your expectations, set deadlines, and delegate employees to solve problems. 6. Develop and share job descriptions. Create detailed job descriptions for every role, with the necessary skill set and your expectations. Share with your team. 7. Establish clear office policies. Develop policies that outline standards for professional behavior in your office. Include these policies in the employee handbook, and make sure every employee reads and signs off on them. 8. Stop making excuses. If there’s a problem, sit down with the employee(s) and find a solution. Getting patients to buy into a treatment plan can be a challenge. In this issue, find out the three primary reasons patients don’t buy into a treatment plan, and the Six Tenets of Treatment Acceptance, p. 24. Learn the basics of dental office design – from décor, colors, lighting, to layout and more, p. 10. Whether you’re starting up a practice or remodeling an existing one, your office speaks volumes about your dentistry. Use our handy checklist to guide your planning. The New Dentist™ also features Dr. Jason Charnley, chair of the American Association of Orthodontists (AAO) Council on New & Younger Members. Learn about the many AAO programs and resources that help support younger members early in their orthodontic careers, p. 30. If you’re ready to transition to practice ownership, it’s time to think about financing your practice purchase or start-up. On p. 28, Gavin Shea from Wells Fargo Practice Finance offers a business loan checklist to make sure you’re ready for this next step. When considering associate opportunities, there are many things you should discuss with the practice owner to set the stage for success. Cindy Bickers from Henry Schein Nationwide Dental Opportunities shares how to choose the right opportunity, p. 14. As a new dentist seeking to own your own practice, you’ll encounter many offers of assistance from companies in the dental industry. On p. 18, the attorneys at Wood & Delgado discuss how to avoid making common practice acquisition mistakes. Wading through technology offerings can be challenging for new dentists. On p. 6, Dr. Paul Feuerstein guides us through dental technology from a practical standpoint. Do you need all the bells and whistles from day one, or can some things wait? What happens to your dental practice when you go on maternity leave? On p. 20, Dr. Gina Marcus shares how she prepared her practice for her maternity leave and kept the office running smoothly and profitably.

2 THENEWDENTIST.NET S U M M E R 2 0 1 5

Here to help,

Sally McKenzie, Publisher

Christopher Banks, DDS Inwood, WV WVU, 2011

Bryan Basom, DDS Columbus, OH Ohio State, 2007

Rebecca Berry, DMD Oakland, ME Tufts, 2011

Julie Blais, DMD Patchogue, NY University of Montreal, 2010

Hal Cohen, DMD Haverford, PA Temple University, 2010

Larry Dougherty, DMD San Antonio, TX Nova Southeastern, 2008

Dennis Frazee, DDS Mooresville, IN Indiana University, 2012

Lindsay M. Goss, DMD, MPH Chandler, AZ ASDOH, 2010

Erica Haskett, DDS New York, NY NYU, 2008

Robert Klein, DDS Kansas City, MO UMKC, 2006

Aaron Layton, DDS Fort Collins, CO Indiana University, 2010

Leah Massoud, DMD Morgan Hill, CA Tufts, 2009

Katie Montgomery, DDS Marysville, OH Ohio State, 2006

Michael Potter, DDS Quincy, WA University of Minnesota, 2014

Kevin Rhodes, DDS, PA Round Rock, TX UT San Antonio, 2005

Tyler Scott, DDS Loudonville, OH Ohio State, 2009

Mary Shields, DMD, MPH Louisville, KY University of Louisville, 2011

Matthew Silverstein, DMD, MPH West Hartford, CT University of Pittsburgh, 2012

Jared Simpson, DDS Bakersfield, CA UT San Antonio, 2005

Nicole Smith, DDS Newport Beach, CA NYU, 2009

Gregory Snevel, DDS Cleveland, OH Ohio State, 2011

TABLE OF CONTENTS

SUMMER 2015 S U M M E R 2015 PUBLISHER

Sally McKenzie Sally@thenewdentist.net DESIGN AND PRODUCTION

Picante Creative www.picantecreative.com MANAGING EDITOR

Terri Yablonsky Stat, M.A. terri@thenewdentist.net SALES AND MARKETING

Crystal Sierra, National Sales Manager crystal@thenewdentist.net For display advertising information, contact ads@thenewdentist.net or 877-777-6151. Visit our digital media book at www.thenewdentist.net/ mediabook.htm

10 FEAT U R ES

Copyright ©2015 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.

Dr. Paul Feuerstein on 6 Technology Must-Haves Interior Design and the Dental Office

How to Select the Right Associate Opportunity

Cindy Bickers

How to Avoid Practice Acquisition Mistakes

Patrick J. Wood, Esq., and Jason P. Wood, Esq.

How to Prepare Your Dental Practice for Maternity Leave

Gina Marcus, DMD

D E PARTMENTS 2 Publisher’s Message 34 Dental Students

Dentistry for Sale: 24 What Makes a Patient Buy Into a Treatment Plan?

36 Skinny on the Street 36 Index of Advertisers

Sally McKenzie, CEO

Practice Financing Checklist: 28 Are You Truly Ready to Apply? Gavin Shea

Young Orthodontists Benefit from AAO Resources

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).

Jason Charnley, DDS, MS

4 THENEWDENTIST.NET S U M M E R 2 0 1 5

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 terri@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.

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Dr. Paul Feuerstein on Technology Must-Haves

s you enter you dental career there are numerous high tech products that promise to improve your practice, some at a considerable cost. Many are truly “as advertised” while some require research. Following are a few ideas based on my experiences as a practicing GP and careful study of these products. PRACTICE MANAGEMENT SYSTEMS Every new dentist needs a sound practice management system from day one. The days of physical charts and folders are over, so when starting a new office, records should all be digital. When taking over an existing practice there are more hurdles, but to make an easy start, every new patient gets a digital chart. There are many ways to do a conversion, but remember, it can be done over time. Some practitioners fear they’ll spend hours and dollars on extensive scanning of old charts. That’s not necessary. However, a plan is critical and at the beginning both systems may coexist. A new model is the cloud-based system, which does not require a complex office hardware network because the software and data is remotely stored. All that is needed are a browser and good Internet connection. These systems often have lower upfront costs and require less intervention in terms of backup and updates, which are handled in the cloud. There’s a monthly subscription and several options based on services. All industries use this type of system, which is offered by companies like Microsoft and Intuit. Most dentists today are tech savvy and feel they can handle their own IT design and maintenance. I did. But there were many times I was in the middle of a long procedure – or even traveling – and was told by the office manager that the printer wasn’t working or a workstation was frozen. Similarly, some dentists use relatives or friends to “help out” and find that person unavailable during a crisis. There are many professional dental support services that design the setup, install, maintain, and are available when you need them. Focus on the dentistry. DIGITAL RADIOGRAPHY Digital x-rays including sensors and/or phosphor plates are a must. The latter are useful if you are in an office that is transitioning from film to digital. The lower radiation and digital aspect are obvious but the diagnostic information from digital images allows you to see things never available on film. There are also several new digital panoramic units with very

6 THENEWDENTIST.NET S U M M E R 2 0 1 5

high resolution – some with extraoral bitewings – that are affordable and quite helpful, especially in pediatrics. These panoramic units are not a replacement for the sensors but something to consider.

INTRAORAL CAMERA An intraoral camera is the most important thing in your practice for patient education and diagnosis. Despite your use of magnification with the newer HD cameras and terrific LED lighting, an intraoral camera allows you to see details AND show them to the patient. Cameras are small and usually connect easily via USB. The images can be saved into the practice management system for easy referrals and documentation. Costs range from $300 to over $7,000 depending on such features as auto focus, image stabilization, macro settings, and variable lighting. DIGITAL CAMERA Invest in a good digital camera for portraits as well as smile design, full arch images for diagnosis, treatment presentation, and more. Digital cameras are available in retail and camera stores, but most dentists have no idea what’s necessary in terms of lenses and lighting/flash units as well as proper settings for images. Who are you going to call when you find molars underexposed in the upper arch mirror image? Several dental camera companies will put together a package based on whether you’re taking photos to show patients or you’re presenting or publishing the images. These companies also supply dental-specific settings, toll-free support, and even loaners during repair. PATIENT EDUCATION SYSTEM When a patient needs a crown, implant, or endodontics, you want to be able to explain the process to them. Several patient education programs are available with beautiful drawings, short animations, movie clips, and more that are professionally done. Many are available for tablets and smartphones. Some are installed into your network while others are cloud-based and even available as apps. Dr. Paul Feuerstein, DMD, is a practicing general dentist in Massachusetts, adjunct assistant professor at Tufts University School of Dental Medicine, and Technology Editor at Dentistry Today. He can be reached at drpaul@toothfairy.com or 978-667-6600.

MAGNIFICATION You cannot practice dentistry without some type of magnification eyewear or loupes. Minimum is 2.5x. As you get more clinically proficient, you can increase power to 3.5x or 4x or higher. There are also new high-intensity LED lights that weigh very little to go along with the loupes. Many dentists “graduate” to operating microscopes. Consider these systems; they are often misunderstood until you actually work with one. DIGITAL CARIES DETECTION Several systems are available. Some are an accessory to intraoral cameras while others are stand-alone units. These devices use lasers, fluorescence, high intensity light, ultrasonics, and more. In this age of minimally invasive dentistry, you’ll find early lesions and many times treat some with remineralization products instead of a handpiece or laser. These systems also alert you to lesions that are larger than you originally thought. SOFT TISSUE LASER Diode lasers can help you perform simple soft tissue procedures. These compact units cost well under $7,000 and are useful in crown and bridge retraction, gingival tissue removal during restorative procedures, uncovering implants, treating aphthous ulcers, and many simple soft tissue removal

procedures. They are quite portable and found to be useful many times a week. More advanced lasers can perform most operative procedures on teeth including endodontics and, depending on the type of system, require little if any local anesthesia. Some of the laser systems concentrate on periodontal treatment and should be investigated.

FUTURE MUST-HAVES Once you’ve seen the diagnostic capabilities of 3D conebeam radiology units, you’ll want one. Implant diagnosis and treatment planning with these systems and accompanying software are remarkable. I predict that eventually they’ll be considered the standard of care. Orthodontic evaluations are given more information than ever before. For endodontic diagnosis in finding canals, fractures, lesions, and more, this is an invaluable piece of equipment. 3D diagnosis also gives a more predictable result in oral surgery. If you cannot afford this at the outset, local offices or imaging centers are available. Once you see how often you require a scan, you can decide on purchasing this technology. The other area to consider is digital impression systems. The accuracy of digital scan is well proven and with more continued on page 29

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Interior Design

and the Dental Office Imagine you’re a patient visiting your office for the first time. Are you greeted by calming colors, subdued lighting, and tasteful décor? Does the office smell nice? Does it sound tranquil?

n the flip side, do you see stained carpet and sagging, dated furniture? Are the chairs lined up like cattle? Even worse, do you hear the wail of the drill or smell medical chemicals? Dental office interior design cannot be underestimated, whether you’re starting up a practice or remodeling an existing one. Your dental office is a reflection of your practice philosophy and sets the stage for how patients experience your practice. “When a patient comes into your office, their first impression is a lasting impression,” says Rosa Dest of Rosa Dest Interior Design in Charlotte, NC. “It’s your brand. How do you want to be perceived? Your front desk area where people immediately go has to present itself in a professional way and tells patients a lot about you and your staff.” Beautiful environments not only create confidence in the doctor and staff but can help reduce patient anxiety, too. “We like to appeal to the senses,” says Arica Peterson of Arica Design in Orange County, Calif. “Everything your patients can see, smell, feel, and hear can trigger anxiety. If we change the environment, the whole patient experience is completely different and patients

M.A., MANAGING EDITOR

have a reason to go out and talk about your practice.” And talk about your practice they will. In this era of online patient reviews where anyone can critique you publicly, you want positive practice buzz. Don’t be overly concerned that having “too nice of an office” communicates that your fees are too high. “A nice office gives you credibility,” says Peterson. “It helps your staff walk taller and prouder. When patients see a dated office, they wonder if the dentistry is dated, too. Your office speaks volumes about who you are. It’s your livelihood.”

Get an Expert While it’s tempting to let your spouse or friend help decorate your office, the end result can be costly mistakes, says Dest. Many dentists believe they can handle the interior design of their office by making it feel and look like a home. But decorating an office requires more than just good design sense. “A dental office is a commercial environment that must meet patient and staff needs,” says Dest. “It should be a calming place that’s comfortable and safe for people of different ages, sizes, and physical abilities.”

PHOTO COURTESY OF ROSA DEST INTERIORS

10 THENEWDENTIST.NET S U M M E R 2 0 1 5

BY TERRI YABLONSKY STAT,

Aesthetics When it comes time to add the finishing touches, let your creativity shine, within reason. And don’t hesitate to ask for guidance. “I ask new clients to do some homework,” Peterson says. “I tell them to find me three simple images of spaces they like,

PHOTO COURTESY OF ARICA DESIGN

As with any commercial environment, you must consider durability and compliance with regulations, such as the Americans with Disabilities Act (ADA). Interior designers with expertise in medical environments are familiar with products such as ADA-compliant faucets, sinks, lights, desks, and cabinets as well as requirements for walkways, hallway width, and desk height. One of the biggest mistakes dentists make is not including an interior designer as a line item in their budget, says Dest. “The role of a designer is to select the proper materials necessary for a health care environment while staying within budget and creating a space that’s aesthetically pleasing,” she says. While hiring an interior designer is an added cost, dentists may ultimately save money by avoiding common mistakes such as selecting carpets or fabrics that aren’t suitable for a high traffic office. Dest advises making sure you hire a contractor with dental office building experience. Dental offices require specific plumbing and electrical work so hiring a professional with experience will save you money and problems down the line.

even if it’s just a kitchen or a bathroom. A picture speaks a thousand words. It helps me understand their style and color preferences before I put them into a showroom with tons of samples that can be overwhelming.” Be careful with expensive art and accessories, says Peterson. “I’ve seen doctors say, ‘I’m in love with a certain photographer.’ Some of this artwork can run upwards of $5000 framed,” she says. Instead, she recommends going online and finding a beautiful piece that is less expensive. “And remember that people aren’t careful in offices. Even though it’s common knowledge you shouldn’t touch oil paintings, that doesn’t stop people, especially children.” Interior Design Checklist page 12.

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Interior Design Checklist

To help guide the interior design of your dental office, use the following checklist, prepared with the expertise of Arica Peterson (Arica Design) and Rosa Dest (Rosa Dest Interior Design).

LIGHTING •

In addition to overhead lights, have lamps in the waiting room for reading and to reduce anxiety.

•

Keep waiting room lights dim to lower anxiety.

•

Avoid fluorescent lighting in the waiting room.

•

Does your state have energy use requirements? Consider using LED lighting. Because it uses less energy, it’s a great way to pass inspection and to save money on energy bills. Bulbs for LED fixtures are more expensive but they last longer.

WAITING ROOM •

Can you accommodate the elderly and those who need bariatric seating?

•

Do you have firm seating, rather than soft seating, so patients can rise easily?

•

Are chairs lined up like cattle or does the layout resemble a living room?

•

Consider chair rails or base moulding to protect the walls from chair backs.

•

Is there a place where patients can leave their jackets, boots, umbrellas?

•

Is your furniture or carpet stained? If so, have it cleaned.

•

Does your coffee table display current magazines/ brochures?

•

Do you have a mirror for quick after-visit touch ups?

•

Is there an area for coffee/beverages?

TONES •

Aim for neutral or cooler tones like blues and greens that are calming.

•

Avoid reds and yellows that can create anxiety.

•

Stay away from trendy “colors of the moment” that will date your office. You can use these trendy colors in areas that can easily and inexpensively be changed out, such as wall color or accessories. Keep long-term objects like dental chairs or cabinets in neutral tones.

CABINETRY •

Does your cabinetry complement the floor and walls?

•

Stick with neutral or wood tones that withstand time.

•

Is your cabinet hardware updated?

12 THENEWDENTIST.NET S U M M E R 2 0 1 5

•

Make sure cabinets are ADA compliant. For example, a wheelchair must be able to maneuver under a cabinet. If you don’t order dental-specific cabinets, then make sure you have room for a glove dispenser, paper towel holder, and trash drop. Make sure your trays and x-ray equipment fit.

•

When having medical-specific cabinets built, talk to your tax professional. Medical-specific cabinets are considered dental equipment vs. a fixed cabinet and may be considered a tax write-off.

LAYOUT AND FLOW •

Keep your sterilization center in a central area so all staff can access it.

•

Do you have a conference room or private area? Frosted glass can help create a sense of privacy.

•

Is there a door separating your waiting room from your work area?

•

Keep your operatory toward a window. This open feel helps calm patients AND natural light helps dentists match tones during crown or veneer procedures.

•

Consider the location of the public restrooms to ensure patient privacy.

SOUND •

Can a patient in the chair overhear a staff conversation with the insurance company?

•

Can those in the waiting room hear the wail of the drill?

•

Consider having a small administrative office for private conversations with insurance companies and patients.

•

Consider materials that absorb sound, eg, ceiling tiles, acoustic tile in the operatory, underlayment, dry wall rather than standard sheetrock, and white noise distributed through the sound system.

FLOORING •

Is it going to hold up with foot traffic?

•

Does it absorb some sound? Can you hear the clicking of heels or shoes?

•

Can it be cleaned? Can you remove a carpet tile or two if the cleaning crew spills?

•

If you choose marble or another natural stone that is porous, keep in mind that the wrong cleaner can discolor the stone in a minute.

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How to Select the Right Associate Opportunity

BY CINDY BICKERS

fter searching for a good opportunity – you had a great interview – you finally have an offer! An associate opportunity can be a fantastic means to start your dental career. You can gain experience and develop your skills. It may also be a great opportunity to learn the business of dentistry. Many associate positions offer future ownership. Working as an associate allows you to become part of the practice and build relationships with staff and patients before you become the owner. It’s a “win-win” for all. Before making a commitment to join a practice, there are many points to discuss with the practice owner to set the stage for a successful associateship.

What are Your Goals? Think about both your short and long-term goals. Are you only looking for some experience to build your confidence and skills or do you want to become a practice owner in the next few years? Is the practice owner prepared to offer ownership? To be successful, any ownership opportunity should be agreed upon at the onset of your associate position. Choose your priorities and be honest with yourself; this will help you plan your future wisely.

Why is the Practice Hiring? Consider why the owner is looking for an associate. There are many good reasons to add an associate to the practice. If the practice is not busy, you should establish a plan to build the

14 THENEWDENTIST.NET S U M M E R 2 0 1 5

business for your success. Has a marketing plan been implemented to bring in new patients? If the plan is to accept PPOs or insurances, how will these patients be allocated? Will it be expected that the associate sees them all?

Shared Philosophy Ask yourself if you have the same philosophy as the doctor owner or practice administrator. Different qualities may enhance the practice, but conflicting philosophies can destroy a good working relationship quickly. Offer to do a working interview. Spend some time in the practice with the owner and staff. This may tell both of you whether the opportunity is a good fit before making the leap to associateship.

Is the Practice Ready for a New Associate? Is the practice well established? What is the active patient count? You can base this number on an 18-month recall system. There should be roughly a minimum of 1,500 patients with 20+ new patients per month to allow for an added dentist. Is the business growing? The yearly gross for the practice CONTINUED ON PAGE 16 >>

Cindy Bickers has 13 years of experience in the dental recruiting business as former owner of Nationwide Dental Opportunities and now Operations Manager after its merger with Henry Schein. Contact Cindy at ndo@henryschein.com or call 866-409-3001.

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Associates continued from page 14 should be approximately $700,000+ to add another dentist. If there is more than a single office, you should determine what is expected of you. You may be required to spend time in different locations.

Hiring Staff How many hygienists does the practice currently have? Is it expected that the associate will do hygiene? The purpose of the associate providing hygiene treatment to patients would be to meet the new patients as they come to the practice and to perform any dentistry that may result from that introduction. How many dental assistants does the practice have? Will the practice hire a dental assistant for the new associate?

Patient Pool What geographic area does the practice draw patients from? Does the practice treat children, and if so, how many? You want to establish your patient base. If you enjoy working with children, can the schedule accommodate this?

How are new patients and existing patients divided? Does the owner doctor or staff choose which patients the associate treats? In most cases, the new patients, unless otherwise provided for, will be scheduled for the associate.

Compensation Compensation structure is very important to your happiness and success. You may be compensated based on a percentage of dollars produced or collected of the dentistry you provide. Will you be paid a draw or guarantee? This could be a flat daily or hourly rate of pay. You will be responsible to make up any monies given to you as a “draw” in either your production or collections. It is not normally required for you to cover a guarantee. Know the number of hours and days per month the guarantee is based upon. Many times the draw or guarantee is given on a regular basis, with the draw being deducted from your earnings. In addition to a guarantee, some practices offer a bonus plan.

Lab Fees Who pays the lab fees? This could impact your total compensation. If lab fees are deducted from your gross collections/ production before your percentage is calculated, it is much different than having the lab fees deducted from your net percentage of collections/production. Who pays the lab costs for any repairs or remakes? Will you or the practice cover these costs?

Benefits Find out whether the associate position offers any benefits. Is health insurance offered and who pays for it? Does the practice provide paid vacation or personal time? If so, how much? Most often paid time is based on an hourly or daily rate. Some practices also offer assistance with student loan repayment, relocation reimbursement, and continuing education (these normally must be approved by the practice owner). Will you be considered an Employee of the Practice or an Independent Contractor? Check the IRS guidelines for qualification. It is best to consult your accountant.

Employment Agreement It is suggested that you get everything agreed upon in writing. This is beneficial for both parties and eliminates many disputes. An Employment Agreement is very important for an associate position. It is always recommended that you have an attorney review your agreement, preferably one with knowledge of the dental business. Review the following: What is the term of the agreement? Will it automatically renew or does it expire? Does it allow for either party to cancel the agreement with notice? Is there any severance if you are released prior to term? Your expected duties should be listed as well as your schedule and compensation. Check the distance listed in the “No-Compete” clause to determine the area excluded from practice in the event you depart the practice.

16 THENEWDENTIST.NET S U M M E R 2 0 1 5

How to Avoid Practice Acquisition MISTAKES BY PATRICK J. WOOD, ESQ. AND JASON P. WOOD, ESQ.

s a new dentist seeking to own your dental practice, you will run into a plethora of people in our industry claiming to have expertise in finding you the right practice. Avoid companies that claim to be all-inclusive and those that discourage the use of other professional advisors. It will save you time, money, headaches, and possibly even protracted litigation. You may have come across companies that claim to be a “one-stop shop” for a selling or purchasing dentist. These companies claim to have all the professional help you need and consider themselves “experts” in the dental field. Some of these companies have even gone to great lengths to discourage the use of other advisors (attorneys, accountants, practice consultants) who provide transition-related services. Our firm has represented more than 4,500 dentists in the last 30 years and we can confidently say: 1. We have yet to come across a company that can adequately provide professional advice in every facet of a dental practice transition and 2. Any firm, company, or business that discourages the involvement of other professional advisors in a transaction does so to the detriment of both parties. The real harm is that these same companies get away with it because the dentist doesn’t understand the issues to watch out for and usually falls prey to the companies’ “doom and gloom” scenarios of using other professional advisors for transition-related services. Here are a few points to consider when using companies for transition-related phases of your dental career: 1. Avoid the one-stop shop. Many companies profess to be able to handle all transitionrelated issues you will face. Generally, these companies use a “form” document to cover the entire country and then claim their company’s professionals have spent thousands of hours perfecting the document. Or, they claim they have perfected the “proper” formula to determine the purchase price for the dental practice, and therefore you don’t need to hire advisors to inspect the document or the dental practice. Unfortunately for the dentists involved, two masters cannot be served equally. 18 THENEWDENTIST.NET S U M M E R 2 0 1 5

Such companies also often claim to represent both parties in the transaction. This claim is preposterous. One of the dentists will be penalized for such dual representation. There are too many areas of a properly drafted dental practice purchase agreement where the seller and the buyer are diametrically opposed to each other that prohibit “dual” representation from occurring.

2. Avoid companies that discourage the use of advisors. Companies that seek to exclude other professionals from inspecting the dental practice and representing dentists in connection with the proposed transaction do it for two reasons. One, they are afraid that outside advisors may “kill the deal.” Our response: advisors who center their business around representing dentists do not “kill deals,” however, they do review closely the proposed transaction, and, as a result of their unique knowledge, know what may be potential problems for their clients and advise them accordingly. Over the years we’ve worked with very few professionals who primarily represent dentists who “kill deals.” Often when a transaction has not closed, there were numerous issues associated with the proposed transaction that gave multiple advisors reason for concern. The other issue we see is that the company pretends to act as a dual agent in an attempt to extract more money from the transaction by charging a “representation fee” to the buyer. The company then acts as a liaison between the buyer and seller. Any dentist who agrees to such a proposition is throwing away money. This buyer representation fee is a fee to “get you into the deal”; it does not pay for true advice. We understand that this article might seem self-serving since we are a law firm specializing in representing dentists nationwide in their business transition matters. But unfortunately, we’ve seen a significant increase throughout the country of dentists being taken advantage of by companies that discourage the use of professional advisors or that claim to be “all-inclusive” that can CONTINUED ON PAGE 34 >>

Jason P. Wood, B.A., J.D., is an associate attorney in the law firm of Wood & Delgado, and Patrick J. Wood, B.A., J.D., is the founder and senior partner of Wood & Delgado, a law firm that specializes in representing dentists nationwide in their business transaction needs. For information call 800-499-1474 or pat@dentalattorneys.com or jason@dentalattorneys.com.

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How to Prepare Your Dental Practice for Maternity Leave

hen I found out I was pregnant with my first child, I was overwhelmed with emotions. Would I be ready? What would I do with my patients and staff? I spent the next month trying to figure it out, because like most dentists, and especially practice owners, I’m a planner. But no planning could prepare me for the complications I was about to experience. At 11 weeks pregnant I was diagnosed with Complete Placenta Previa. I was checked every 2 weeks for improvements, which never came. Because of this, I didn’t even announce my pregnancy to my team until 16 weeks. The excitement was immediately followed up with questions like, “How long will you be out on maternity leave?” “Will we still get paid?” “Will my hours be cut?” Then I thought… maternity leave? Am I even entitled to this? I own my practice. If I’m not here producing, who will be? Can I afford to have someone fill in? I needed to have a plan in place, and I needed to have answers right away. But how do I plan when my pregnancy complications weren’t going away? My doctor immediately scheduled a C-section for 37 weeks. My complications actually helped me focus on creating my maternity plan. It was pretty simple. My goal was to work until 36 weeks, giving me a week off before the baby, and then return 3 weeks after delivery. I got lucky…my sister-in-law, also a dentist, wanted to join me in the practice part-time as she, too, had small children. We decided we would cover each other during any current and future pregnancies and vacations. For this pregnancy, she would cover me to help patients with basic needs, like hygiene checks and emergencies. The plan was to complete all crown and bridgework by 34 weeks so no one would be in provisionals during my absence. 20 THENEWDENTIST.NET S U M M E R 2 0 1 5

BY GINA MARCUS, DMD ADAPTED FROM TODAY’S FDA

I began hemorrhaging on a Friday. I was taken via fire rescue to the hospital. En route, my first call was to my sisterin-law. I was in active labor at just 27 weeks. Before I knew it, Benjamin was delivered by emergency C-section that afternoon. He was rushed to the NICU, intubated, and hooked up to monitors. I reluctantly went home and started to think, “My baby was born prematurely at less than 2 pounds and my plans for the office were scrapped. What am I going to do now? Payroll is on Wednesday, today is Monday, and no one was trained to do this!” I quickly made a plan for payroll. My sister stayed with me during my recovery and drove me to the office that Wednesday to complete payroll. When we arrived home, I was exhausted. Maybe it was delirium, but I started to again make plans for my practice while my son was fighting for survival. Was I going to close up shop, sell the practice, or just take more time off? I decided to return to work as soon as sitting was comfortable enough to work a few hours at a time. I went back to work full time 10 days post-partum C-section. Crazy, right? I didn’t feel I needed more time off at that point. Instead, I would take time off when he was ready to come home. I also knew that if I focused on my practice and CONTINUED ON PAGE 22 >>

Dr. Gina Marcus is a general dentist practicing in Coral Gables, Fla. She was born and raised in Miami and received a Bachelor of Science degree in psychology from the University of Florida, Gainesville. She received her Doctor of Dental Medicine degree from Tufts University School of Dental Medicine in Boston. She can be reached at ginamarcusdmd@gmail.com.

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Maternity Leave continued from page 20 patients, I would be distracted from wondering whether my child would survive today. And that’s what I did. My Patient Care Coordinator scheduled my patients in 2-hour blocks leaving me time in between to visit my son at the hospital. When my son was discharged, 13 long weeks later, he was still fragile and required treatment and followup with specialists. He was on several medications, an apnea monitor, and we had to take his blood pressure four times a day. I devoted Thursdays to going to the doctors with him so I could have some semblance of order in my life and at the office. I decided the best thing for my baby was to have him in the office with me so I could check on him as much as I wanted, give him his medications, and take him to doctor appointments. I had my son with a nurse in the office with me for the next 6 months. After this whirlwind year, I ran the numbers for year-end to determine how my “maternity leave” affected the practice. Roughly 20% of patients fell behind on recare, which also caused a delay in patients’ seeking and completing restorative treatment. My working part-time for roughly 8 months, even with my sister-in-law building her side of the practice, made a considerable dip in year-end production and collections. The practice was down 15% from the previous year. Why didn’t I have a Practice Maintenance and Prevention Plan (PMPP)? I spent hours working ON the practice so I could make changes IN the practice. Re-investing in the practice – to make procedures go more smoothly, with less stress, and more cost effectively while maintaining and even improving the level of quality – seemed to be a reasonable beginning to my PMPP. Three years later I started planning for child #2. This time I would have a well-executed plan. I made a list of everything that didn’t get done the first time and worked through the list. My second pregnancy was automatically labeled high risk. I kept telling myself that despite what happened last time, this time would be easier. At 11 weeks, I was diagnosed with Vasa Previa, which is more dangerous than Complete Placenta Previa and very rare. I was followed closely and my condition required that a home health care nurse come to the office once a week to give me steroid injections to prevent premature labor. My patients were scheduled around the nurse’s schedule. I had already put my PMPP into place. At 32 weeks, I delivered my second son. He weighed 5 pounds and was much farther along in development at birth than my first. He only needed to stay in the NICU for 14 days. This was my time to heal and get organized. After 10 days, he was ready to come home. I did things differently this time. I took 2 weeks off from the office and hired a night nurse so I could go back to work 22 THENEWDENTIST.NET S U M M E R 2 0 1 5

well rested. I went back to work incrementally over a 4-week period. I only took 2 weeks off, but I took my time coming back to full time. The importance of a dependable support system is paramount. I am so grateful for my family, staff, and others who helped me achieve my goals while maintaining a balance between my practice, personal, and family life.

Practice Maintenance and Prevention Plan: Prepare patients: Be up front and honest. It is important

for patients to know you will not be present for their hygiene checks but that you have confidence in the doctor covering for you and that their treatment will be uninterrupted. Order supplies: Only order necessary items. Get on a sched-

ule for ordering every 2-3 weeks to avoid excess shipping expenses. Make a list of necessary and frequently ordered items and look for deals on purchasing larger quantities. Payroll: Start with a service or bookkeeper before or early in

the pregnancy so this is well-established and any kinks can be ironed out while you are still available. Plan for the end of pregnancy: Finish up any restorative

work minimally 2 weeks before the scheduled leave time so patients are not in provisionals during your absence. Determine who will fill in for you: This doctor can oversee

hygiene and be available for tasks needing direct and indirect supervision. Clearly discuss whether the doctor will continue the restorative treatment plan while you are out or whether patients will be scheduled upon your return.

Treatment and Patient Care Protocols How will emergency patients be handled? Create a deci-

sion tree that is easy to follow and in a centralized office location for easy reference. How will referrals be determined? Create protocols so your

team is clear on whom patients will be referred to and why. New patients: Create a protocol for how the new patient

experience will flow.

Train the team on current and new equipment and caring for the physical plant Have a reference sheet that includes important phone

numbers for equipment, IT, dental supplies, landlord, etc. Who will pay bills? This is where a bookkeeper is extremely

valuable. You are entrusting them to access your bank accounts. Team member issues: Appoint someone who is fair to

handle team member issues in your absence. A protocol for discipline must be in place and enforced at all times. A comprehensive office manual will make this task easier.

Dentistry FOR SALE What Makes a Patient Buy Into a Treatment Plan?

BY SALLY MCKENZIE, CEO

DENTISTRY’S ULTIMATE STRESS TEST Nothing produces a quickened pulse like making a proposal, of any kind. Whether you’re proposing a marriage, business arrangement, purchase of a home, or plan for dental treatment, you’re putting yourself out there, at risk. The flip side of acceptance is rejection. In the case of treatment plan proposals, even more than your ego is at stake, since the rate of treatment plan acceptance foretells the outlook for your practice. Let’s take a critical look at the three primary reasons why patients don’t buy into a treatment plan.

Reason #1 – No Meeting of the Minds Every time a treatment plan is proposed, both you and the plan are subjected to being mulled over, reflected on, and deliberated about not only by your patient, but the patient’s family, friends, or anyone else in earshot. Here’s how some of this concern might be offered: • Patient’s really good friend: “You’re going to spend how much for veneers? Sounds like an awful lot. You should try my dentist. He’s really reasonable.” • Patient’s spouse: “Why would you put yourself through all that pain and suffering? Just have the darned teeth pulled and get a partial like mine. It’ll save you a whole lot of discomfort and save me a whole lot of bucks.” • Patient’s boss: “How much time do you think you’ll need to have all that dental work done? Maybe you should plan on using some of your vacation time.”

24 THENEWDENTIST.NET S U M M E R 2 0 1 5

Reason #2 – Conflict of Interest For eons, it seems, much of the public has been under the impression that dentists are in it for the money! What patients would, after all, accept your treatment recommendations if they suspect that you’re out to pick their pockets? Beware of any plan or presentation that reeks of self-interest. Reason #3 – They Never Invest in Things They Don’t Understand Patients are in no rush – after being given only the sketchiest overview of treatment – to begin scheduling the procedures you’ve recommended. At best, they want some time to “think” about it, but often end up refusing the treatment or simply not scheduling it.

BUYING INTO THE TREATMENT PLAN The patient’s needs and desires are actually the issue, not the dentistry itself. In other words, you’ll have to figure out what CONTINUED ON PAGE 26 >>

Sally McKenzie is CEO of McKenzie Management, www.mckenziemgmt.com, a nationwide dental management, practice development and educational consulting firm. She can be reached at 877-777-6151 or sallymck@mckenziemgmt.com.

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THE SIX TENETS OF TREATMENT ACCEPTANCE. Tenet #1 – Give Them What They Want Treatment acceptance begins not with the first visit, but with the very first phone call to the office. When a prospective patient calls and asks for a cleaning, she should be scheduled for that procedure, preferably within a week of her call. In some offices, though, she’d be given a lecture about why the doctor needs to do an exam and take x-rays before scheduling her for a prophy. Listen to what patients want, and whenever possible, give it to them. Tenet #2 – Stick with Dentistry and Leave the Selling to Somebody Else While the dentist plays an integral role in case acceptance, details of presentation can be most effectively delegated to a treatment coordinator who has the training and skills to build rapport with patients; explain dental procedures; comfortably discuss fees and financial arrangements; and follow up on outstanding treatment.

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Tenet #3 – Getting the Right Impression During the new patient interview, in an attempt to determine what the patient wants, the treatment coordinator should ask open-ended questions to uncover what haunts, obsesses or pains the patient. Such questions might include: How important is your image to you? Do you feel that your image has helped you or held you back in your career? What about in your personal life? Does anything bother you about your smile? Do you have any special occasions coming up? Do you ever have problems with chewing or with pain in your mouth? Have you ever had a bad experience in a dental office? On a scale of 1 to 10, where would you place the value of keeping your teeth and oral health in optimum condition? They say that nothing is real until it has been expressed in language. There is often so much psychic energy built up in these areas that once the patient has expressed the desire for a prettier smile or admitted dental discomfort, acceptance of your treatment plan will be a given. Tenet #4 – Seeing is Believing During the initial exam, the doctor should use the intraoral camera to show the patient what he/she finds that appears to need treatment. Knowing the patient’s perspective will help in determining how far to go with explanation. In an informal way, the doctor can point out the disparity between what the patient has and what she wants or needs. Tenet #5 – Preparing the Treatment Plan Although the treatment plan used internally needs to include what procedures will be performed at each appointment, along with chair time and doctor time needed at each, the plan that will be presented to the patient only needs to include: number of visits; what the proposed work will look like, whether procedure(s) will be painful, and if so, how that pain will be managed; cost of treatment; expected payment schedule; and applicable financing options. Tenet #6 – What the Patient Wants, the Patient Gets If you’ve really listened to what patients want, and present their treatment plan as the route to meet their objectives, treatment acceptance will be a fait accomplis and patient satisfaction will be within easy reach. A clear win for all concerned.

Wells Fargo Practice Finance

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When you’re ready to purchase or start a practice, count on Wells Fargo Practice Finance to help you achieve your goals: · Up to 100% financing to help you acquire an existing practice or start one from scratch · Competitive fixed-rate loans with preferred pricing for ADA® members · Complimentary business planning tools, educational resources, and practice management consulting to help you successfully manage your transition to ownership

To get started, call 1-888-937-2321 or visit wellsfargo.com/thenewdentist to request your free Practice Starter Kit. Wells Fargo Practice Finance is the only practice lender selected especially for ADA® members and endorsed by ADA Business ResourcesSM.

All financing is subject to credit approval. ADA® is a registered trademark of the American Dental Association. ADA Business ResourcesSM is a service mark of the American Dental Association. ADA Business Resources is a program brought to you by ADA Business Enterprises, Inc., a wholly owned subsidiary of the American Dental Association. © 2015 Wells Fargo Bank, N.A. All rights reserved. Wells Fargo Practice Finance is a division of Wells Fargo Bank, N.A. 2434-0115-New-Dentist-Spring-2015

Get the facts with a free Practice Starter Kit, including our latest issue of Strategies for Success, a New Dentist Planner, and an easy-to-use business plan template.

Practice Financing Checklist:

BY GAVIN SHEA

Are You Truly Ready to Apply?

ou’ve completed dental school, perhaps worked as an associate, and are now ready to transition to practice ownership. How do you go about getting the financing you’ll need for your practice purchase or start-up? The first step is to prepare a thorough and professional case for your practice loan with all the information your lender needs to move forward in processing your application. Use this checklist to be sure you’re truly ready to apply:

1 Maintain good credit Having an excellent, well-managed credit profile is critical, as your credit history forms the foundation on which your financing package is based. Follow these simple guidelines to improve your credit rating and ensure a healthy financial profile: ___ Maintain at least two or three revolving credit accounts to demonstrate you are credit worthy and able to manage debt. ___ Avoid applying for credit from too many lenders at once as this will negatively impact your credit rating. ___ Do not use all the credit available to you, demonstrating you know how to use credit wisely. ___ Make on-time monthly payments on all debt to avoid any delinquency being reported to credit bureaus. ___ Notify creditors in writing of any address change. ___ Review your personal credit report at least twice a year to protect your identity and ensure accurate reporting of all accounts.

2 Have documentation in hand Nothing slows down the loan application process more than receiving documentation in a piecemeal manner or incomplete information. Every loan institution will have its own list of required documents, but most all practice lenders seek at least the following: ___ Income tax returns for the past 2 years. Your tax returns provide evidence of your current cash flow sta-

28 THENEWDENTIST.NET S U M M E R 2 0 1 5

tus and can demonstrate you are not relying solely on the success of your new practice to generate cash flow. ___ Professional resume. Your lender wants to know they are taking a reasonable risk with you. Reviewing your educational and professional background helps assure them that you have the training and skill set necessary to generate practice success and ultimately repay their loan to you. ___ Net worth statement. Many lenders will seek evidence that you have successfully built your personal or business assets, with a reasonable debt to asset ratio. Be sure to ask potential lenders if they have any minimal net worth requirements that may impact your ability to qualify for a loan with that lender. Some lenders may want to use your assets as collateral for your practice loan. ___ Credit application. Completing your lender’s credit application in advance of your appointment will help speed the lending process and ensure all questions are answered immediately and properly. ___ Business plan. If you are seeking a practice start-up loan, you will need to prepare a formal business plan detailing your strategies for achieving practice success.

3 Be prepared for lender questions Your lender will naturally have a number of questions about your practice transition. Be prepared to answer the following: ___ How much money do you need? Don’t guess! Do your homework, meet with your team of advisors, and understand exactly how much financing you need to complete your purchase or start-up. Once a financing package has been delivered, it’s difficult, if not impossible, to go back and ask for more.

Gavin Shea is the Senior Director of Sales and Marketing at Wells Fargo Practice Finance. He has over 17 years of financial experience helping practitioners start, grow, and transition their practices through a diverse array of financial products and services. He can be reached at 1-888-937-2321 or practicefinance@wellsfargo.com.

___ How will you use the money you will borrow? Be specific! General or vague answers like, “I’ll probably use most of it to purchase the practice, with the rest going for upgrades” do not make a strong presentation and may lead to a lower financing determination. ___ How will you pay us back? Have a plan in mind, and don’t be afraid to ask for what you need. For example, if you prefer to make smaller payments for the first two years as you transition to ownership, with increasingly larger payments beginning in year three, tell your lender. ___ When can you start making payments on your loan? Create a cash flow projection to share with your lender showing when you will be able to begin payments on your loan. ___ What is your plan should you experience a revenue or income shortfall? It happens, and your lender wants to know that you have a back-up plan for repaying your loan – so by all means, make one. The correct financing amount, terms, and support for the next steps in your career can be critical to your ultimate success. So don’t procrastinate – start preparing now to make a compelling case for your practice acquisition or start-up loan, and get the financing you need to take this important step in your career.

A future as bright as a set of pearly whites. At Aspen Dental, you can have the career and life you want. • Tap our marketing and business experts • Take home an above average income • Achieve your dream of ownership, without the risks or hassles Ready to have it all? Call 866.748.4299.

Must-Haves continued from page 7 laboratories incorporating a digital workflow, this front end makes it all a seamless proposition. Many systems have the capability of creating restorations in the office at the same visit as the prep. A few systems have been perfecting this system for years and have thousands of users, scans, and restorations. And they are constantly upgrading and improving. As with any dynamic technology, there are frequent changes and new players arriving on the scene. Look carefully at the existing landscape and see how it fits into your young practice. Don’t forget: You have to spend time with CE courses, reading literature, and asking questions. And just as with smartphones, the day after you dive in another newer and greater version will come out. BUT if you can’t wait for the next great thing and the concept appeals to you now, go for it.

Dr. Chandan Chadha

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4/7/15 10:29 AM

Young Orthodontists Benefit from AAO Resources BY JASON CHARNLEY, DDS, MS

ike more than 90% of U.S. orthodontists, I joined the American Association of Orthodontists (AAO) upon entering the specialty. I was happy to discover that task forces, committees, and councils offer younger members a variety of opportunities to impact the direction of the association. The AAO trustees understand that younger orthodontists face a challenging career environment, and that we are a growing sector of the membership. Millennials (those born in 1982 or later) now make up about 7% of AAO members. Obviously, we are the future of the specialty, and the AAO leadership views addressing our needs as a high priority. The AAO Council on New & Younger Members (CONYM), of which I am the chair, is the primary voice for younger members. Other AAO councils and affiliates ask for our input on a variety of issues, and we have a liaison on the association Board. In recent years, a wealth of AAO programs and resources that benefit younger members have either been introduced or expanded. Items that CONYM members feel are especially helpful include: Free career development assistance: In the early years of

orthodontics, our top concerns include finding employment and/or starting or purchasing a practice. The AAO offers: • An online employment and practices for sale board, Practice Opportunities & Careers, with a dedicated staff member available to assist all users;

•

The Orthodontic Employment Fair at the AAO Annual Session. The inaugural employment fair, which took place at the 2014 Annual Session, was so successful that it was quickly incorporated into the 2015 Annual Session schedule; Online articles on topics such as resume preparation and alternative practice modalities, with links to information on educational debt management, demographic and employment data, etc. The New Orthodontist & Resident conference at each year’s Annual Session. This program, hosted by the AAO CONYM, features a prominent speaker addressing careerrelated information relevant to the young orthodontist.

Free business training from experts: The majority of

respondents to a 2012 AAO survey said they had no business training during their residencies, and many of those who had such training did not consider it to be of high quality. Now in its third year, the AAO Business of Orthodontics series works to address this need by providing intensive webinars on financial, legal, strategic management, marketing, risk management, and career path topics relevant to orthodontics. Business of Orthodontics webinars are: • Presented by experts in each discipline; • Offered free of charge to all AAO members; and • Archived in the AAO Online Lectures repository, where they remain available at no charge. Valuable endorsed services: Through its affiliate AAO

Services Inc., the AAO makes ancillary services available to members at highly competitive rates, with all endorsed services intensively vetted by Services staff and AAO leaders. Examples include: • AAO Services recently announced an endorsement agreement with SoFi (Social Finance, Inc.). Through this program, AAO members may be able to lower their student CONTINUED ON PAGE 32 >>

Dr. Jason Charnley earned his D.D.S. and M.S. in orthodontics from the University of Michigan School of Dentistry. A Diplomate of the American Board of Orthodontics, Dr. Charnley is a member of the American Association of Orthodontists (AAO), for which he serves as chair of the Council on New and Younger Members. He is also active in the Great Lakes Association of Orthodontists, Michigan Association of Orthodontists, American Dental Association, Michigan Dental Association, and Muskegon District Dental Society. He owns and operates Lakeshore Orthodontics in Grand Haven, Mich.

“With Arrowhead I was doing full arch dentistry my first year.” Dr. Cody Bauer, Mansfield, TX

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Arrowhead Dental Lab and the Dr. Dick Barnes Group have developed a CE plan specifically designed to make new dentists more successful. Dr. Cody Bauer used this plan to more than double his income in his first three years of practice, and triple overall production in his office. Bauer says, “Arrowhead’s plan really works! It’s so easy, dentists don’t believe it!” Get the skills and support you need for success and keep your patients coming back by providing the latest in dentistry. Sign up today for Arrowhead’s New Dentist CE Plan by visiting our website at www.ArrowheadDental.com or by calling 1-877-358-0285. Listen to Dr. Cody Bauer’s full interview:

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Orthodontists

Practice management resources and patient education and marketing materials: It would be challenging and

continued from page 30

•

loan debt by consolidating and refinancing their loans. CONYM had advocated for such a program, believing that younger members could substantially benefit from it. US Bank recently began providing practice finance loans with preferred pricing to qualified, U.S.-based AAO members.

Legal assistance: Specifics of many laws vary from one state

to another and it is necessary to consult an attorney regarding legal questions. A national perspective on common legal issues and how they are typically addressed can be very helpful, however, in terms of developing knowledge and using the time efficiently when meeting with one’s own attorney. The AAO legal department addresses member questions from a general legal perspective. In addition, there are many articles on relevant legal topics available to members at www. aaoinfo.org, the member website. The most recent addition to the articles collection is a comprehensive Contract Guide, which examines point-by-point all of the issues addressed in many orthodontic employment contracts, including caveats for each point.

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costly for an orthodontist opening a new practice to develop materials needed for patient management and marketing. The AAO also has these areas covered, and the materials are free to all members: • A comprehensive collection of informed consent forms covers numerous specific concerns, with the general informed consent form available in English and Spanish. An informed consent video for viewing by patients is also available. • Downloadable patient education brochures provide attractive, professionally presented information that is easily understood by the layperson, addressing many aspects of orthodontic treatment. • Advertising and marketing materials from the AAO’s Consumer Awareness Program may be customized by the member to promote his or her practice.

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A free subscription to the award-winning American Journal of Orthodontics and Dentofacial Orthopedics (AJO-DO); Free library services; Numerous e-letters, a member app, social media outlets, a comprehensive member website, and a print magazine featuring AAO news and newly introduced or updated resources for practice management. Features on topics of high interest to the specialty are published frequently. A free listing on the “Find an AAO Orthodontist” locator on the AAO consumer website, mylifemysmile.org; Access to professional liability insurance from the AAO Insurance Company, which is managed by fellow orthodontists; Opportunities to earn continuing education credits via two internationally recognized meetings per year and two webinar series annually. (With the exception of the Business of Orthodontics series, registration fees do apply to use the educational opportunities.)

To obtain AAO services and resources, residents pay just $30 per year. Upon transitioning to active membership, a graduated dues structure is applied with full payment of dues and assessments not required until the 5th year after graduation from residency. As we leave our residency programs, orthodontists have stateof-the-art clinical knowledge to care for our patients. Luckily, the AAO is there to help take care of us by making it easier to succeed in our careers.

Catherine’s pain was unbearable.

Dr. Thomas Bissell, Chester, New Jersey, with Catherine

Dr. Bissell’s desire to cure it was unstoppable. Catherine had visited several physicians and dentists, but nobody could find the origin of her intense tooth pain. Then Catherine found Dr. Bissell, who combined his passion for helping patients with the power of the CS 9300 3D. With that one scan, Dr. Bissell was able to give Catherine the one thing she wanted to hear: a diagnosis. After a successful treatment plan, Catherine now has a pain-free life. And her beautiful smile back. Learn more about how the CS 9300 3D CBCT unit redefined Catherine’s life. Visit www.carestreamdental.com/Catherine • 800.944.6365 © Carestream Health, Inc. 2015. 12501 DE AD 0515

DENTAL STUDENTS

University of Maryland School of Dentistry Receives $1.5 Million Gift for Endowed Professorship

he University of Maryland School of Dentistry (UMSOD) has received the largest one-time gift in the school’s 175-year history, a $1.5 million donation from alumni Frederick G. Smith, MS, DDS ’78, and Venice K. Paterakis, DDS ’81, that will establish the institution’s first endowed professorship. The new Frederick G. Smith, MS, DDS, & Venice K. Paterakis, DDS, Endowed Professorship in Oral & Maxillofacial Surgery for the University of Maryland School of Dentistry will provide resources to fund the work of a distinguished faculty member, enabling this professor to pursue new areas of research and innovative teaching methods. “As the world’s first college of dentistry, established in 1840, we celebrate our 175th anniversary this year. This historic gift pays tribute to the school’s illustrious past as a leader in dental and dental hygiene education while ensuring that the University of Maryland School of Dentistry will remain among the premier dental schools in the world,” says Dean Mark A. Reynolds, DDS ’86, Ph.D. “I speak for all of us here at the School of Dentistry when I express my heartfelt gratitude to Dr. Smith and Dr. Paterakis for their generosity.” “This gift enables the Department of Oral & Maxillofacial Surgery to further enhance our surgical training programs and

Practice Acquisition continued from page 18 handle all dental transition issues. Most dentists go wrong by believing that any professional will do. Any broker can sell their dental practice, any lender can give them a good rate, any attorney can represent them during the transition process, any accountant can review the books and records of a dental practice, etc. This is not the case, however, and you need to retain professional advisors skilled in each area. The companies that urge you not to use advisors will use scare tactics and strong arm negotiation to encourage you to avoid the use of other dental transition professionals. Some of the following might sound familiar: “Why use an accountant to review the books and records? They will only tell you not to buy it because they don’t understand the industry.” 34 THENEWDENTIST.NET S U M M E R 2 0 1 5

pursue exciting new research endeavors,” says Robert A. Ord, DDS, MD, chairman of the Department of Oral & Maxillofacial Surgery. “The generosity of Dr. Smith and Dr. Paterakis will positively impact not only our students and residents, but also the many patients in Maryland we serve each year.” The establishment of this first endowed professorship advances the School of Dentistry’s educational, research, patient care, and service mission. The endowed professor will launch ambitious interdisciplinary initiatives within the Department of Oral & Maxillofacial Surgery’s educational programs and provide new opportunities for student involvement in cutting-edge research projects. Endowed professorships typically attract superior faculty members who are among the elite in their field. “I’m proud to be able to play a role in enhancing the quality of the education that will be provided to future students,” Dr. Smith says. “For me, it is extremely rewarding to contribute to the fiscal capacity of the institution. “I was fortunate enough to attend the University of Maryland School of Dentistry and I received an exceptional education.” Information courtesy of the University of Maryland School of Dentistry.

“Practice consultants? They are only going to give you the same information I have already provided you, so why waste your money?” “Why spend your hard earned money for an attorney to review the document? Our company has used this document for years. The attorney will only mess up the deal.” “You shouldn’t use that lender, they won’t approve this deal (read: they won’t pay me points).” If any of the above sounds familiar, run. Our law firm participates in approximately 175 dental practice purchases/ sales a year and usually the only times we run into problems with transactions are for sale by owner transactions, unscrupulous brokers, and companies mentioned above. We encourage you to use professionals with a profound knowledge of this industry and beware of those companies and individuals who seek to prey upon you.

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SKINNY

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The latest news on products and services for new dentists and their practices X-Treme Ultra-Gloss Kit

LEAP Lighting Technology

Instrument Management System

The Super-Snap X-Treme UltraGloss Performance Kit is the essential toolbox to complete quick, easy and highly aesthetic restorations. Options include contouring, finishing, polishing with Super-Snap and the new SuperSnap X-treme disks, enhanced to provide 3 times greater gloss. Finishing with the Super-Snap Buff disks and DirectDIA diamond polishing paste to achieve a wet, shiny look. Bonus items include a Beautifil Flow Plus syringe and a six-compartment case. Available in either standard or mini size disks. For more information visit www.shofu.com or call (800) 827-4638.

Lumed Science Introduces LEAP, a patent-pending lighting technology that provides comfortable retraction of the patient’s mouth integrated with high quality, ergonomic lighting. This simple integration allows you to work without concern of blocking the light thus leading to shorter procedures, better patient outcomes and happier patients. This is accomplished by wireless integration of LED lighting technology directly into durable silicone and plastic mouth prop. The device has undergone extensive research to ensure patient comfort and precise lighting of the working area. In addition, LEAP contains an angled tube attachment for a saliva ejector for hands free suction. For more information visit www.lumedscience.com.

Hu-Friedy introduces the new Instrument Management System® (IMS), a complete solution that combines sterilization, storage and organization in one integrated cassette system. • A modern hole pattern with 30% additional open area increases water flow throughout the cassette. It is more compatible with all cleaning equipment. • An innovative silicone rail design reduces instrument contact by 59% allowing more access to instruments while holding them safely in place. • A user-intuitive latch design for a more comfortable, ergonomic grasp and single-hand opening. By standardizing instrument management from cleaning to chairside, dental practitioners generate more time and revenue while extending the useful life of their valuable instruments. For more information call (800) Hu-Friedy or visit www.hu-friedy.com/infinity-series.

COURTESY OF SHOFU DENTAL CORP.

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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 New Dentist™ Resources at www.thenewdentist.net to receive information from more than one company.

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