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Mind Your Business

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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Tips on Transitioning into a New Practice

Transitioning into a new practice as a new buyer or as a new owner after owning other practices has its unique challenges. In this video, Timothy Brown, CEO of ROI Corporation, discusses with Dr. Suham Alexander the strategies to make this transition easier. It is important to understand that patients also need time to adapt to this change along with the dental team. Helpful Tips Gain the trust of the new employees Try not to make any significant changes in the first year Initial changes that are required should be “invisible” to the patients and move slowly If new policy ...

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Forget Backup, Here’s the newer safer alternative!

Anne Genge, CEO of Healthcare Compliance Network, discusses a novel approach to traditional data back-ups. Back-up data is important in healthcare as it protects and allows practices to restore their files in an unforeseen events, such as breaches, theft, fire etc. The table below illustrates how traditional back-ups compare with a newer method called virtualization. The accompanying video explains how the two differ in greater detail. Full Interview (11.54″)   Virtualization Presentation (6.10″)  

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How Important are Employee/Associate Contracts?

Timothy Brown, CEO of ROICorp, joins Dr. Suham Alexander to speak about the importance of employee and associate contracts in dentistry.  Highlights Contracts are important for the ongoing business of the practice and they help to avoid misunderstandings at the outset. The contracts package the rights and privilege of the employee and owner and helps to mitigate issues around termination. Additionally, when a business is appraised and is presented for sale, the purchaser and his/her advisors (banker, accountant, lawyer) generally view a practice more favourably if employee and associate contracts are already in place. Important elements of employee and associate ...

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Tell It Like It Is: Positive Dentistry with Dr. Miguel Stanley

Two years ago, I invited Dr. Miguel Stanley for an interview about his participation in one of the international dental conferences. I very much enjoyed my talk with him then; and I did again, this time around, when I invited him to share his experience speaking about dentistry on the TED stage. There aren’t many TED talks about dentistry, so when I found his, I thought it should be featured as an incentive for other dentists to share their experiences and thoughts about dentistry on such a prominent stage!  Miguel is a renowned international dentist, speaker, author, and TV host. He ...

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Understanding Phishing & Social Engineering in the Dental Practice

Anne Genge comes back to speak with Dr. Suham Alexander about the dangers of email phishing and how to avoid it in your office.   Resource 6 Tips for Your Dental Practice     

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