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Buying a Dental Practice: How One Decision Saved My A** and Likely, My Career

Dr. Rebekkah Merrell I graduated from dental school, so I’m smart, right? A few years after finishing my residency, I decided I wanted to own my own practice. I was trapped working for a corporate practice that made me hate going to work everyday. I was itching for a change and fast. I began looking for practices to purchase in my ideal location. I would see a practice come on the market, and by the time I heard back from the listing agent, the practice would be under contract. I was frustrated and desperate. After multiple requests for practice information,… Read More »

What you need to know if you want to own a Dental Practice

Whether you’re planning to own a practice, or you already do, this article is for you. You won’t likely receive the following information in Dental School, in Residency or as an Associate Dentist.   Reality Bites:  It does not matter how much you love your team or how much they love you, they will never care as much about the success of your practice as you do. You may believe they do and they may believe they do, but why should they? It wouldn’t make sense. It’s YOUR NAME on the door, on your license, and on your loans. YOU are, the one person,ultimately responsible for the Success… Read More »

Benefits of a Small-Town vs. Big-Town Practice

The following article was written by our Founder, Mary Fisher-Day, exclusively for Dental Entrepreneur Magazine and appears in the Fall, 2016 issue and the online edition Here.  There’s plenty to be said of the benefits of living and practicing in a big city or Metropolitan area. Proximity to upscale dining, Cultural Activities and Shopping Malls are at the top of the list when I speak with a young dentist seeking to purchase a practice. Easily, nine out of ten are seeking a practice no further than a thirty-minute drive from a large city. While practicing in a large city does… Read More »

Could Early Morning Dance Parties Boost Productivity?

I recently learned of a dental practice that has two minute dance parties, prior to their morning huddle everyday. The team loves it. Imagine the positive energy this brings to the practice! What do you think? Would this work for your practice? Check out the article below. Early Morning Dance Parties Boosting Productivity -Mary Mary Fisher-Day Founder, The Dental Business (CNN) – Not many people come to work right after a party, but there’s a new movement that’s got people doing just that. They’ve come to get mentally and physically energized before starting their day. “Yoga class was awesome. It… Read More »

Dental Office Overhead

The following overhead numbers are typical of a well managed Dental Practice: • Staff Salaries (including benefits and government required Payroll expenses) = 24-28% • Clinical Supplies = 6% • Lab Fees (all) = 7-8% • Rent or Lease payment = 4% • Equipment Leasing/Purchases = 2-3% • Office Supplies (includes postage and electronic billing and filing charges) = 2-3% • Utilities, telephone, accounting, legal and professional fees = 10% Ideal, true, overhead should be no more than 60%. Some numbers may be included as “overhead” or “practice expenses” that are not absolutely required to run a Dental Practice. These… Read More »

A Note From Mary

When you think you can’t afford to hire a practice management coach or consultant is when you need one most. If your practice is in need of a consultant/coach, find one that will work with you on payments. Our clients see their investment repaid many times over and in a very short period of time. Why wait for tomorrow, when you can see results today? For more information on our services, see our website at www.thedentalbusiness.com or email us at clientcare@thedentalbusiness.com. At The Dental Business we welcome ideas, comments and questions for future blog posts. Do you have an idea… Read More »

Dental All-Stars Podcast

Mary Fisher-Day, discusses the importance of team communications for this Dental All-Stars Podcast. Great information that every dental practice can use! To listen to this podcast, find out why team communication is so important, and learn best practices click here Dental All-Stars Podcast Mary Fisher-Day, founder of The Dental Business, was asked to discuss the importance of team communications for this Dental All-Stars Podcast. Great information that every dental practice can use! To listen to the podcast, visit this link. At The Dental Business we welcome ideas, comments and questions for future blog posts. Do you have an idea for a compelling article… Read More »

A Note From Mary

Do you need to make changes for the upcoming year? Fall is just around the corner and you know what that means…the last quarter of 2014 will soon be upon us. Yikes! Are you having the successful year you planned?  If not, now is a good time to make changes that will ascertain better results this time next year. Do you want to know the secret sauce of most successful dental practices? They don’t do it all by themselves… they hire a practice management coach. You’re not expected to do it all by yourself either.  Seriously, you are not. That makes… Read More »

Top Mistakes Made By Dental Practice Owners

What are the top mistakes made my dental practice owners? 1- Under estimating the value of team communication   * Morning meetings or huddles are the most important communication of the day. This 10 to 15 minute meeting will set the tone for the day. The Doctor or Scheduling Coordinator should facilitate   Review the schedule for the day Determine where emergency patients should be placed on the schedule Discuss your goals for the day and month. Where you are, where you need to be and what you can do to get there Review prior day and discuss any issues that… Read More »

Is Your Team On Board?

Do you have a practice mission statement? If not, you really should. If you do, is your team on board? I believe teams are the same regardless of industry. A business will succeed or fail because of the team. A coach cannot win a game without a team just as a dentist cannot practice dentistry without a team. The definition of team, according to businessdictionary.com, is “A group of people with a set of complementary skills required to complete a task, job or project.” I would like to add MISSION to the definition. To carry out a successful mission it… Read More »

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