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Mind Your Business

The 2017 Dental Market Fall Forecast

Highlights Timothy Brown, CEO of ROICorp and Jackie Joachim, Chief O Officer of ROICorp 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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ODA New Dentist Symposium: Making Smart Financial Decisions – Expert Advice for New Dentists with Ron Haik

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. My third interview with speakers from the symposium is with Ron Haik, Vice President, Investment Advisory Services, at CDSPI. Ron will be accompanied by Susan Roberts, Deputy Principal Broker at CDSPI Advisory Services Inc. Their session focuses on helping young dentists make sound and beneficial financial decisions.  I hope you ...

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ODA New Dentist Symposium: Top 10 Aspects of Purchasing a Practice with Timothy Brown

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. My first interview with speakers from the symposium is with Timothy Brown, President and CEO of Roi Corporation. His session focuses on helping new dentists make the transition through the purchase of their own practice.  I hope you enjoy the interview and attend the symposium. Please share ...

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What Should You Look For In An IT Provider?

Highlights In an effort to help dental teams better navigate issues related to business and IT, Anne Genge returns to Oasis Discussions to give the audience some helpful information when selecting an IT person or team support your practice. Key Messages Dentistry is a complex hardware and software environment with security needs as well. All systems must be integrated so that the day can flow easily. Referral sources for IT services can come from software providers. Qualifications for reliable providers should include the usual Microsoft certifications dealing with servers, workstations, clouds etc as well as privacy and security certifications. IT ...

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Conversation with Dr. Sree Koka: How Do You Attract and Retain Patients?

Highlights Dr. Sree Koka spoke to Dr. John O’Keefe and a live audience about attracting and retaining new patients based on his experience starting a prosthodontic practice from scratch. Helpful hints Have a vision of what YOU want your practice to be. Remain true to your own value systems and surround yourself with team member that share them. The 1st appointment is very important in making an impression on a patient. Patients want to know their dental practitioner is confident. competent and professional. Updated knowledge and technology within the office. Comfort level in speaking to and answering the patient’s questions ...

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Where there’s efficiency, there’s success! Tips on how to run a super efficient dental practice

The following video segment is part of another project that we at CDA are working on. We thought the information that our valued contributor David Chong Yen presented, is so valuable that we wanted to share it with our CDA Oasis viewers. The Two dentists present were part of the CDA project and provided their consent to be featured and present the video.  David harnessed the long-time experience he has working with dentists and provided these excellent tips on creating a super efficient dental practice.   I hope you enjoy the conversation and that you share your feedback with us ...

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The Importance of Goodwill in the Valuation and Appraisal of a Dental Practice

Timothy Brown, CEO of ROICorp, returns to Oasis Discussions to shed some light on goodwill. Highlights Goodwill is an important aspect of a dental practice and contributes to the valuation or appraisal of the practice. However, do we really know what factors weigh into determining the goodwill of a practice?  Goodwill is comprised of hidden value. ROICorp uses ~250 various components (eg. # of bathrooms in an office, etc.) Traditionally, goodwill has been calculated as: # of patients x “n” amount of $. Then, it moved towards a set percentage of billings and may still be calculated this same way ...

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