Management
Are They Satisfied? Patient Satisfaction Surveys are Important!
Patient experience is the most important part of any healthcare business. An excellent experience doesn’t just mean that you are likely to retain a patient – it can also help you to attract more patients through word of mouth. As well as this, all healthcare professionals strive to give the best treatment, and a patient’s … Read more
Planning for Retirement: Part 2 of 3
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
Understanding the Implications of the New Federal Dental Subsidy Program
The new Liberal-NDP agreement suggests implementing a national dental care program for low-income Canadians. Such a program could result in the most considerable augmentation of the nation’s public healthcare system in decades. The new “supply-and-confidence” agreement between the Liberals and NDP incorporates a commitment to implementing a sustainable dentistry program. Instead of acting solely on … Read more
Profit and Loss / Where Do You Stand?
Practice overhead is one of the most critical metrics to track. What is your net profit? Where should it be? How you get this number is what truly matters. General practices should be at a net profit of 40% (higher is possible), yet reports show dentists are lucky to see 30% net profit these days. … Read more
Office Space: Loft 32 Dentistry
THE WHY: Owner’s Story Dr. Elena Kalmantis is the proud owner and principal dentist of Loft 32 Dentistry. Her practice is strategically situated in the quaint nature-inspired town of LaSalle, a beautiful bedroom community next to the City of Windsor, Ontario. Upon graduating from Western University in 2012, she practiced as an associate for 9 … Read more
What Can Go Wrong vs. The Concept of Recovery
When I speak about preservation planning, I often hear, “Paul, tell me what can go wrong. What could possibly be my critical event? I am financially secure, in good health and insured for negligent acts. Preservation planning is not on my radar.” That’s a tough question to answer; we do not have a crystal ball … Read more
9 Tips to Improve Your Website Loading Speed
Has your website slowed down? Do you feel that it takes ages to load now, unlike in the past when it opened almost instantly? There could be many reasons behind this issue, but they may all have one result – discouraging visitors to your site. As a dentist, you may know what a crucial role … Read more
Understanding CPP Sharing: The Complete Guide
Discover How You Can Share Your Canadian Pension Plan (CPP) with Your Spouse or Your Legal Partner in Six Simple Steps Married or common-law couples in an ongoing relationship may voluntarily share their CPP retirement pensions to help reduce their tax bill. Currently, the government allows you to share your CPP if you meet certain … Read more
Data Driven Dentistry: 2022 Round-Up!
Attracting New Staff to Your Practice Acquiring new staff has been a challenge this year but there have been a few options available for practice owners. Hiring a newer graduate may require more work in the onboarding and training process but allows you to mold and mentor the employee. Dental temp services have also greatly … Read more
Navigating the Impact of Economic Recessions on Healthcare Workers
In May 2020, Canada saw an all-time high in unemployment, reaching a staggering 13.7% as Covid hit the country hard. Now, however, the rate has stabilized again, but that doesn’t mean we’re in the clear. There’s a lot of talk of recession in countries across the globe, with economic downturns almost inevitable over the coming … Read more
It’s Okay to Spoil Your Team!
In November, we focused on delegating tasks to team members and holding them accountable. As a dental CEO, you simply cannot do it all. You need to entrust some vital tasks to your team. And as we head into the holiday season, a time of year intended to spoil our family members, it seems appropriate … Read more
The Patient Experience
Nowadays, we are providing more than dental appointments, we are providing patient experiences. The patient experience is more than a buzzword. It has been proven that positive patient experiences increase health outcomes and decrease patient complaints.1 What is the patient experience? Although there is no established definition, the patient experience is more than providing care; … Read more
Planning for Retirement: Part 1 of 3
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
The Evolving Digital Practice
Dentistry has evolved dramatically for decades due to computers, telecommunications, and various digital equipment interconnection. The days of one-write systems, film-based X-rays, and even fileservers and backup drives will soon be relics of the past. The term Digital Transformation encapsulates the ongoing migration from analog to digital systems. It is best defined as using digital … Read more
How to Use Web Stories to Boost Your Practice
You may already be familiar with web stories; they are a more recent phenomenon making significant strides as a successful marketing tool and are now growing in popularity. Since they provide information in small, easy-to-digest doses, they can be effectively used by dental offices to market their services to new and existing patients in the … Read more
Avoiding Endodontic Malpractice Pitfalls
Several years ago, I read an article published in a popular magazine by a patient who was denouncing the endodontist who had just treated them. After a quick computer search of my patients’ files, I was relieved when it was apparent that this was not my patient. However, I reread the article several times hoping … Read more
Office Space: Knox Mountain Dentistry
THE WHY: Owner’s story Dr. Jordan Sanders is the proud owner of Knox Mountain Dentistry, which opened its doors in Kelowna, BC, in 2021. The space was designed and built according to his overall tastes and philosophies. Seven beautiful operatories are well laid out within the 2700 sq. ft facility. With the support of his … Read more
Your Hands, Your Head, and Your Heart
The current rate of inflation in Canada is 6.9%. Food prices in Canada jumped by 10.3% compared to September 2022. A 2023 Salary Projection Survey published by LifeWorks, a company focused on health and well-being, predicts salaries to rise by only 3.93%. In addition, economists predict that we are heading for a recession. With the … Read more
Four Tips for Successful Networking
RELATED ARTICLE: Tips for Successful Networking with Your Dental Colleagues