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Mind Your Business

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What are the 2017 Tax Changes?

David Chong Yen from DCY Professional Corporation Chartered Accountants, spoke with Dr. Suham Alexander about tax changes that took effect at the beginning of 2017. Highlights What’s new as of January 1, 2017? Students Elimination of Education and Textbook tax credit (Federal) Tuition tax credit is still in place (Federal) Starting Sept 1, 2017, tuition, education, textbook tax credit will be eliminated (Provincial) Families Canada Child Benefit is a tax-free monthly amount that families will receive if they meet the criteria Corporations With respect to costs involved in setting up a professional corporation (PC), the first $3000 is fully tax deductible ...

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Featured Ron

Navigating Retirement: Enhancing Your Life After Dentistry

Ron Haik, VP Investment Advisory Services at CDSPI, Dr. Alan Roadburg, PhD, a leading authority on retirement lifestyle education, and Susan Roberts, VP Insurance Advisory Services at CDSPI, will be speaking at the upcoming Pacific Dental Conference in March 2017 in Vancouver. Their session will feature a comprehensive financial and quality of life approach to retirement planning, based on lessons learned from CDSPI’s recent survey of retired Canadian dentists. The session runs on Thursday, March 9, 2017 8:30am – 11:00am and is titled: Navigating Retirement: Enhancing Your Life After Dentistry.  Highlights Planning for “retirement” is often most closely associated with ensuring ...

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Privacy Policies, Documents, and Procedures

Anne Genge returns to discuss security and privacy policies and documentation which are extremely important in dentistry to protect and keep data safe. What policies do you need? Privacy – consent and access issues Security – safeguarding patient and business data Agreements – third parties who have access to information in the office (eg. Software vendors, co-op students, volunteers) Disaster planning Breach      

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What are leasehold improvements, what is their value, and why do they matter?

Timothy Brown speaks with Dr. Suham Alexander about leasehold improvements, their importance and more importantly, their hidden value. Highlights Leasehold improvements include both visible and invisible items such as flooring upgrades, paint, light fixtures to extra outlets, additional wiring for technology including computers and telephones. Traditionally, leasehold improvements were not counted in the value of the practice as landlords typically “owned” these improvements. However, in the 1970’s and 1980’s, ROI Management’s founder, Ray Brown, advocated for the inclusion of leasehold improvements in the appraisal value of a practice and succeeded. In general, leasehold improvements can range from $200-$250 per square ...

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Dental Unit Water Lines Maintenance

Water and evacuation lines are important components in a dental unit. As such, it is essential that they be properly maintained to provide safe and quality dental care for patients. Mike Bromberg, Equipment Service Technician at Henry Schein, explains the basics about the maintenance of water and evacuation lines in this short video. Key Messages Most dental units are manufactured with separate water bottle systems these days Having a separate water bottle which feeds into the dental unit allows practitioners to control the water supply and the temperature of the water being used A specific water tablet is added to ...

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Email: Risks & Strategies

Anne Genge, CEO and Co-founder of Healthcare Compliance Network Inc., returns to Oasis Discussions to speak with Dr. Suham Alexander about email security. While email is fast, easy and convenient to use, it can expose the practice to various threats including ransomware, malware, spyware and can be easily hacked without appropriate preventive measures. Threats can often be mitigated through the use of emails associated with a specific domain name, such as drsmith@ABCdental.com rather than “free-mail” accounts with hotmail, gmail or yahoo. Similarly, robust business grade anti-virus protection is a must to protect the practice from incoming threats, usually from email. In ...

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Change for the Better: Using 6x Magnification Loupes

Dr. Mark Venditti from Kingston, ON spoke to Dr. John O’Keefe about the change he recently made in his magnification loupes. He increased his magnification ability from 2x to 6x and now uses a headlamp as well. Since making the change, he is able to see surface textures of the teeth and restorations more clearly and has helped in endodontic treatment too as accessory canals are easier and faster to find. This, ultimately, results in better patient treatment and care. There is an adaptation period to the increased magnification relating to posture but this benefits the practitioner long-term. Overall, the ...

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CDA Oasis Webinar: Encryption in the Dental Office: What you need to know

On September 23rd, Anne Genge and Dr. John O’Keefe hosted a live webinar on encryption in the dental office.  Download the PPT used in the webinar (PDF) Highlights Anne Genge returns to Oasis Discussions in this webinar to speak to dental practitioners and team members about encryption. Encryption is the gold or legal standard for securing data wherever it “lives” and during data transmission. Dental offices are vulnerable to attacks and, at times, a lot of personal information is stored in the electronic health record sometimes even credit card information. Encryption takes readable data, scrambles it and unlocks the data ...

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