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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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.…
2/3 The Experienced Dentist Pocketbook — A Three Part Series At a certain point in time, you feel that you have had enough of owning a clinic. At that point in your life you will have new values, wants and…
Congratulations on choosing one of the most transformative career paths. Indeed, you must have sacrificed a lot to complete a training program in dentistry. So, you’re here now and have chosen to take the private practice route. Another great move…
As a practicing dental hygienist, I focused on the delivery of patient-centred care, avoided the financial and operational aspects of a dental practice, and had no need for business acumen. Over time working in dental clinics, my interests and horizons…
Location, location, location. Every dentist knows the site of their practice is one of the most important considerations when opening to the public. It doesn’t matter if you’re in a rural area, a city or a metropolis, where you are…
Dentistry is a special and exciting career for people interested in medicine, oral health, and helping others. Although becoming a dentist requires many years of education, our challenging yet rewarding field can make the effort well worth it. The Learning…
July is here, and Canadians everywhere are trying to squeeze the most out of our abbreviated summer. Hopefully, we’ve all set aside time to reconnect with family and friends and to recharge our internal batteries. For many of us, the…
The task of opening a new dental office can be formidable. There are so many considerations: Is there adequate usable area for my needs? What dental equipment will best suit my practice? What are the health and safety requirements and…
Picture working in this environment: Your entire team, led by the office manager, has conspired against you. At lunch time, there is never a chair at the table for you. Sometimes, the lunch you have prepared has been thrown out…
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