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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 »

Are you a Manager or a Leader?

There is a Difference Between Managing a Team and leading one. Leaders don’t simply ensure tasks are completed; Leaders inspire with actions.   Tips to Providing Leadership for your Team Good leadership skills are important for all Business Owners and Managers. I want to share with you some skills I believe to be important to a Successful Dental Practice. Walk your Talk. If you want your employees to care about your practice; You must show that you care. Showing up to work late on a consistent basis sets a bad precedent. If you want your team to be on time,… 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 »

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 »

Interview with Mary Fisher-Day, Founder and Owner, The Dental Business – Part Two

Conducted by Livvie Matthews, Simple Social Media TV Part Two Livvie Matthews: Mary, what about Compliance and Documentation? Do you feel there are particular areas that practices should pay attention to when it comes to Compliance and Documentation? Mary Fisher-Day: Yes, I do. These are the areas dentists rarely think about. Yet, these are areas that can cost a practice hundreds of thousands of dollars. First, you must know HIPAA laws. You cannot just assume that your team knows and abides by them. You will need to make sure that they are following your office protocol and that manuals are… Read More »

The Sky is NOT Falling!

I really feel the need to share something that’s been weighing heavily on my mind. You see, I’m not a fan of “The Sky is Falling” mentality that some are using as their platform today. My belief is that we work in the best business in the world! I’m speaking of the dental business, of course. We are blessed to be in a business that, for the most part, has not given in to what I call, diagnosis by insurance company. Have changes in the insurance industry affected our business? Certainly, they have. But, not like other health care providers,… Read More »

Twelve easy and inexpensive ways to market your practice from the inside-out

Marketing from the inside-out is the most effective and inexpensive way to get new patients. Patient referrals are key. The key to keeping the patients you have and have them refer their friends, family and co-workers is letting them know you appreciate them. Below is a list of the 12 things you can do TODAY to market your practice at little or no expense. Thank your patients for coming in and tell them it was good to see them. This is will go very far when a patient is trying to decide between you and another dentist. Your patient waiting… Read More »

Do You Really Need a Dental Practice Valuation?

Do you really need a dental practice valuation? Yes, and for the same reasons you have disability and life insurance…to protect your family. In the event of Practice owner’s death, the practice value decreases an average of 5% per week and 50% of practices go unsold when the owner dies unexpectedly. A thorough practice valuation will take 3 to 5 weeks to complete. Most family members have no idea what a practice is worth, where to find the documents necessary to have it properly appraised or who to call for help. When grieving the loss of a loved one, an… Read More »

Treatment plan acceptance during tough economic times.

The past ten years have been tough for the dental industry. It is difficult enough to motivate patients to have treatment during good economic time and much more so in a tougher times. While the economy may seem to be on the mend, people are still afraid to spend money. You and your staff will need to educate patients and give them a sense of urgency to motivate them to have the treatment they require. You may have heard this before, but I believe it bears repeating, simply because it works: when you sit down in front of your patient… Read More »

Welcome to our Blog!

We at the Dental Business are proud to welcome you to our blog! On this page we will post interesting and informative articles that will help dentists make wise business decisions from graduation through to retirement. Subjects will include buying your first practice, management issues while in practice, planning to transition out of dentistry, retirement, and selling your practice. From this page you can also get connected with us on Facebook, Twitter and Linkedin. Thanks for stopping by. Our first article will debut shortly! We welcome ideas for future blog posts. Do you have an interesting or compelling story that… Read More »

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