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Mind Your Business

Managing the Dental Practice’s Human Resources

Every dentist knows that managing the practice’s human resources is no walk in the park. Avoiding turnover, hiring for the enhancement of the practice’s culture rather than its demise, and ensuring employee’s loyalty are some of the foundational principles that dental practices stand on.  I had the pleasure to speak with Mariela Gonzalez, Business Manager at Prosthodontic Associates (PA) in Toronto. Mariela has been with PA for 18 years and has agreed to share some of her pearls of wisdom with our audience. I hope you find the interview informative and please share your feedback, thoughts, and suggestions with us ...

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The Role of Appointment Reminder Systems in an Age of Emerging Technology

Highlights Dr. David Avenetti, Residency Program Director in Pediatric Dentistry at University of Illinois at Chicago College of Dentistry (UIC), speaks to the Oasis Discussions audience about the role of appointment reminders and emerging technology.  David has extensive experience as a full-time clinical assistant professor at UIC and in private practice and he has seen the role that technology plays in no-show rates in both publicly and privately-funded care. Key Messages Access to care is made up of 2 components: access to dental insurance and dental utilization Appointment Reminder Systems (ARS) play big role in dental utilization Novel technologies which ...

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Should I buy a Practice or Start One from Scratch?

Highlights Timothy Brown, CEO of ROI Corp, answers the age-old challenge about whether a dentist should start his/her own practice from the ground up or purchase an existing one. While both options have merit, they also have their downsides.  Key Considerations Today’s dental marketplace is very competitive and one must consider whether there is an adequate supply of active patients for the dentist. This ratio of dentist to active patients can be as high as 1:1500 and as low as 1:500 in some downtown urban areas like Toronto. This number is important as it will affect cash flow, and debt-serviceability. ...

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Should Dentists Carry an Automated External Defibrillator in their Practice?

It is always a pleasure to host Dr. Joonyoung Ji again Oasis Discussions to speak about an increasingly important question: should dentists carry and AED in their practices. Dr. Ji spoke with Dr. John O’Keefe about few considerations that dentists might want to know.  We hope you find the conversation valuable and that you share your feedback with us on Oasis Discussions or through oasisdiscussions@cda-adc.ca. Bookmark our page and visit us frequently to keep up to date with the latest in the world of dentistry! Chiraz Guessaier, CDA Oasis Manager Highlights Automated External Defibrillators (AEDs) have become increasingly visible in ...

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Can I Run My Practice Like Other Small Business in Other Industries?

Highlights Dental practices are small businesses that are focused on optimizing oral health for their patients. However, there are many “best practices” that dental practice owners can adopt from other businesses in different industries to enhance their patients’ experiences and improve their profitability. In this video, Timothy Brown, CEO of ROICorp, shares some of the lessons he has learned over his decades of experience. Key Points Customer experience is a key indicator of success – customer comes first Follow-up and attention to detail by the team is paramount to success and builds loyalty Don’t be shy to ask patients to ...

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Should You Hire Team Members with IT Aptitudes?

Highlights Dentistry is a technologically advanced profession; and it continues to evolve. In today’s increasingly digital age, it is important that team members are proficient and confident in using the technology utilized in dental practice environments. To this end, it is important for practice owners to ensure the right team members are hired and then, trained appropriately on hardware, software and other applications that are used to provide care for patients. When hiring new employees, ask them how they feel about technology. A positive, enthusiastic response is a good sign. If the interview admits to being “computer illiterate”, heed his/her ...

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The 2017 Dental Market Fall Forecast

Highlights Timothy Brown, CEO of ROI Corp and Jackie Joachim, Chief Operating Officer of ROI Corp give the Oasis Discussions audience an idea of the trends that are occurring in the dental marketplace as of late September 2017. Key Trends Dental corporations are still interested in acquiring practices Strictly looking at multiples of EBITDA The investors are looking for return on investment A well-run practice with existing associates in place is attractive to corporations Currently 3-5% of all dental practices are owned by dental corporations and this will likely increase The dental market peaked approximately 9 months ago and has changed There ...

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ODA New Dentist Symposium: Inspirational Leadership with Peter Barry

The Ontario Dental Association is holding a New Dentist Symposium, October 21st and 22nd, 2017. This innovative Continuing Education event aims to bring together like-minded ODA members who are facing the same challenges and opportunities. The symposium was specifically crafted for new dentists who have been practicing dentistry for 10 years or less. Leadership and the debate between innate and acquired leadership are important topics to the dental profession. My fifth interview of speakers from the ODA New Dentist Symposium is with Peter Barry, a renowned speaker, coach and trainer who has helped dentists achieve successful professional careers for over 20 years.  I hope ...

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