Dentistry as a profession has experienced much change in the past five years. The economy has also changed immensely in that period. Following suit, the value and sale price of dental practices in the Canadian marketplace has also seen the pendulum swing in both directions. A rise in values as interest rates fell in 2020 … Read more
This week Dr. James Vassallo joins Michael Carabash to discuss why he decided to retire from dentistry. Stay tuned for more clips from this interview! Subscribe to Oral Health’s weekly e-newsletter to have the latest episode delivered straight to your inbox every week!
Looking to Sell? Need a Contrast?Put Down the Drill and Stash the Cash?Dash Down South ’n Make a Splash,Mash it Up and Have a BlastDoing Dental Outreach with Lee and Carabash?! Well, To Get There: You’ll Need a Plan.First Thing’s First: Your CorporationAnd Financial InformationWe’ll Need to Scan it to See if You CanAvoid Paying … Read more
This time comes for every dental practice owner – the time to sell your practice. Whether you are selling your practice to completely retire or to step away from owner responsibilities while still practising, there is much to consider when selling your business. The two most popular reasons our readers would consider selling their practice … Read more
Two, Four, Six, Eight! Maximize and Appreciate! This article is the second in a three-part series that reviews some of the major considerations in preparing for practice ownership transition and comprehensive retirement planning. In the previous article, we discussed the two most common ways in which a dental practice is sold and four ways to … Read more
Two, Four, Six, Eight! Maximize and Appreciate! As the adage goes, “failing to plan can mean planning to fail.” As health care entrepreneurs, we are responsible for the creation of our own retirement pensions through a career of hard work, smart planning, and effective strategies. Planning for the day when we elect to hang up … Read more
Many are asking great questions about corporate buyers and the effects of the rising interest rates and inflation on practice values. The market continues to expand as corporate buyers, like traditional ones, see the value in healthcare. I may sound like a broken record, especially now that we are two years past those initial dark … Read more
Our limited time becomes increasingly apparent the further on we progress in our careers. Yet it can become an abstraction when a large offer to purchase your practice is being placed in front of you over the course of a compelling sales pitch that can sometimes be months or even years in the making. The … Read more
Your practice is your baby. Even if you purchased it from another dentist, you still put in the hard work to make it your own. You’ve toiled, fretted and challenged yourself to reach new heights. And now it’s nearing the time to move on. When the time comes for selling, it is critical that realistic … Read more
ABSOLUTELY!!! And here is why. If your ultimate goal is to own your own practice, then do not pass on a good office because of the times we are currently in. An economic crisis can be the best possible time to invest in yourself! As an associate, this could be the moment you buy yourself … Read more
Change is everywhere and especially in dentistry. How are you adapting to the changes and using them to be more relevant to your patients? Technology, as we all know, is revolutionizing what the dentist is able to accomplish in the clinical arena. We now have a multitude of diagnostic tools that only a handful of … Read more
Help patients say “yes” to the treatment they need…. How would it be if all our patients accepted our treatment recommendations without having to be pressured, without stress or rejection? Why do dental patients reject appropriate treatment? 85% of case acceptance is related to our social skills and ability to relate to people, 15% is … Read more
Do you have positive influencers in your practice? We continue from last week by considering the strategic type of decision making when implementing change into your practice. Decision Style – Core Team decision making: The leader trusts and depends on a select group of members of the practice (with representation from each department) who are … Read more
Be aware of the little habits that make a big difference.. Below are some common reasons that dental practices run behind. Identify if any apply to your practice and then discuss at the next team meeting to brainstorm solutions. 1. Starting late at the beginning of the day 2. Don’t audit charts prior to the … Read more
Move great ideas forward….. Ever have a great idea bubbling in your brain that you share with one or two colleagues throughout the day? An idea to minimize tasks, bring new patients to your practice or how to save on expenses? Sharing your idea with one or two people usually means that’s as far as … Read more
Your critical area of focus… In today’s fast paced world of change, competition and customer (patient) sophistication, it is critical to focus on your service, reputation and referrals. Also critical, is to know how your patients feel about you, talk about you and express their dissatisfaction. A dissatisfied customer will tell 12 other people A … Read more
Good question. As it turns out, just about everything. Let me tell you why. This week I posted on social media a study linking periodontal disease to chronic kidney disease. The response? It is the first time our Facebook page for Partners in Prevention got 100 “likes” in 24 hours. There were also 41 “shares”. … Read more
Dental practices are similar to other businesses in corporate America: They’re made up of a team of people working towards a common goal. Much like other businesses, every practice has a leadership team. The size of that team can vary drastically depending on the size of your practice. Whether your leadership team is made up … Read more
IT’S become commonplace to criticize the “Occupy” movement for failing to offer an alternative vision. But the thousands of activists in the streets of New York and London aren’t the only ones lacking perspective: economists, to whom we might expect to turn for such vision, have long since given up thinking in terms of economic … Read more
Most of us may be practicing longer than we thought thanks to the economy, or not, but the look and feel of our offices are very much the focus of customer service. As always, in that this week is dedicated to the world that Steve Jobs built, I offer you six APP’s which can turn … Read more