The Canadian dental industry is entering a new chapter. Dentalcorp Holdings Ltd., the country’s largest dental services organization with more than 550 practices, has agreed to be acquired by U.S. private equity firm GTCR in a transaction valued at C$2.2 billion. Once complete, Dentalcorp will no longer be publicly traded on the Toronto Stock Exchange … Read more
Taking the time to “plan your next step” in so many facets of life is always a challenge…and dentistry is no exception. As dentists, it often feels like your day is an endless procession of moving from one patient to the next faster than the eye can see. To keep up, you just have to … Read more
One of the greatest challenges many dental CEO’s face is how to effectively use their time in the slower, summer period. We all love “those lazy, hazy, crazy days of summer!” And we know that Canadian summers are far too short to spend our entire time working. But true CEOs know that downtime does not … Read more
Really getting the business side of your practice operating effectively does take time. You need time to plan, strategize, and execute the decisions that will drive your business forward. Unfortunately, most dentists I speak with constantly tell me time is the one commodity they never can find enough of. I get that! As a practice … Read more
One of the hardest aspects of being the CEO of your practice is holding your team accountable when their performance is not measuring up. Let’s face it, most dentists try to be people pleasers. They want their patients to be happy. They want their team to be happy. Conversations about poor performance can be hard. … Read more
Navigating the path to dental practice ownership is a journey that blends rewarding triumphs and challenging trials. It requires careful evaluation of financial potential, personal preparedness, and the development of resilience. This article will explore the multifaceted aspects of transitioning from being an associate to owning your own dental clinic. Drawing from real-life case studies, … Read more
Taylor Inglis, Senior Executive Vice President, shares how EP Care makes health and wellness more affordable and accessible for patients through in-house payment plans.
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
TIP #1: Prepare Years in Advance Begin planning 2 to 5 years before contemplating selling. Why? Because it can take up to 2 years to put your team members on contract. It can also take 2 or more years to set up or clean up your professional corporation in anticipation of a sale (if you’re … Read more
Dental insurance billing is one of the most critical operations at a dental office. No matter how efficiently you’re producing and delivering quality patient care, your practice won’t grow unless an ethical dental billing process is in place. Despite your continuous efforts in improving the practice, there’s always a need for financial management to keep … Read more
In a (post) pandemic world, where the population is more aware of the risks of airborne transmission and “work from anywhere” has become de rigueur, some patients will prefer to avoid commuting to the dental practice as often. But that doesn’t mean a dental practice should give up on the relationship it has built with … Read more
It goes without saying that the COVID-19 pandemic has been an unexpected and unprecedented period in Canada and beyond. And while you might think that would hinder dental professionals from buying or selling a practice, think again. Over the last few years, the healthcare industry has undergone an unrivaled rate of change but particularly during … Read more
By now, everyone probably knows about the DentalCorp IPO. It is the first Canadian corporate dental group to go public since TriDont tried it, unsuccessfully, approximately 35 years ago. The response to this news on social media has been interesting to watch. Some dentists in private practice have responded with an “if you can’t beat’em, … Read more
There are seven key distinctions that set the bar for consistently delivering an ideal new patient experience and increasing satisfaction, retention, and referrals. Making a “distinction” involves refining one’s thinking. Dentists are good at making clinical distinctions. For example, recognizing subtle aspects of occlusion that may alter restorative material decisions is a clinical distinction. However, … Read more
As a profession, we are currently in a fortunate position. Our practices provide us the ability to live a comfortable life, maximize our value when it’s time to sell, and leave a professional legacy in the communities in which we serve. Strong practice values continue to be supported, even in today’s challenging climate with goodwill … Read more
An important consideration during the sale of a practice is the amount of taxes arising from realizing a capital gain – the underlying asset primarily being the patient list, i.e., goodwill. While the seller can avail of the lifetime capital gain exemptions as a reduction to the capital gain tax, there are opportunities for a … Read more
Never has the statement that we live in unprecedented times been truer. As of the writing of this article, none of us fully understands how this pandemic will play out. But even in times of unprecedented crisis, experience and basic principles can often help us draw reasonable conclusions about how businesses will likely be affected. … Read more
With COVID-19 shutting down many dental practices across the country, the government has introduced new benefits to help businesses weather this storm. Here is an overview of what’s available for dentists and some ways to optimize the benefits for you and your team. Canada Emergency Wage Subsidy (CEWS) – This benefit provides a subsidy of … 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
There has never been a more important time than now to implement effective practice management systems. Having a good back up plan is integral to practice success. Keep in mind that focus needs to be on the here and now. Additionally, planning ahead offers peace of mind. Some things to keep in mind: Choreograph the … Read more