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Re-Opening After COVID19

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Covid-19 has impacted every global industry, and dental practices are no exception. If you work, manage or own a dental practice, this is obvious. The nature of dental work involves high-contact personal interaction, which puts both you and your patients at higher risk of contagion if you do not implement and follow recommended hygienic protocols. In Massachusetts, Phase 2 of the Covid-19 reopening plan gives the green light for dentists to offer non-emergent services, like routine cleanings. Although we’re just entering the beginning of the “new normal”, is your practice prepared to follow the recommended guidelines? Here’s just a few ideas you can start at your dental practice today to succeed in the re-opening stages.

ADMINISTRATIVE CHANGES

Due to the up close, personal nature of dentistry work, most dental practices opted to shut their doors or limit services extensively during the state and nationwide stay-at-home orders. According to the ADA, 79% of dentists closed except for emergency work, and 17% shut their doors entirely. But the fact is that revenue loss from such a drastic decrease in patient visits is devastating for many dental practices, despite the desire to keep everyone safe.

As we move into the “new normal”, work on streamlining your administrative process. You may already do most or all of these things, but here are a few suggestions to implement from an administrative standpoint:

  • Schedule appointments with enough time in between to facilitate proper cleaning and disinfecting.
  • Limit the number of patients and staff in the practice at one time.
  • If possible, consider staggering or dividing the staff into shifts to avoid having to shut the office down if someone gets sick.
  • Prioritize higher risk patients with a specified window of time after you open each day.
  • Call ahead to verify information with the patient beforehand and advise them on what to do if they feel sick before or after their visit.

PRACTICE ENVIRONMENT

In terms of preparing your physical dental practice for higher patient traffic, the CDC has put together a detailed list of considerations specific to dental offices. Many of these guidelines are most likely very familiar to you. However, here are some basic recommendations when planning to re-open — or stay open:

  • Ensure that every staff member has access to personal protective equipment (PPE) which may include face masks, shields, gloves, and protective clothing.
  • Advise all staff and patients to wear a mask when not undergoing dental work.
  • Mark floors, walls or other visible areas to note proper social distance – ie. a floor marker every 6 feet.
  • Place hand sanitizer visibly around the office and implement strict cleaning and disinfecting protocols in between patients.

WHAT NEXT?

The “new normal” will be different in your dental practice than it was before, but you don’t need to feel overwhelmed. Want further guidance in how to ensure success in a post-Covid 19 environment? Schedule your consultation with Dr. Coughlin today.

Questions to Ask Before Offering Teledentistry Services

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Over the past several months, social distancing and remote work have become the new normal for most Americans. For dental practice owners, implementing telehealth options to continue operations is in many cases a necessity in order to comply with both federal and state recommendations.

If your practice hasn’t already done so, consider getting your team and patients on board with a telehealth program. Not only does it mean that you can still offer your services, but your patients will also feel appreciated and thought of during this uncertain time.

However, there are some things you need to consider before turning your practice into a telehealth operation. This post will go over just a few of these factors.

HOURS OF OPERATION

The nature of dental work is that many visits are due to emergent scenarios like cavities or an infected tooth. Other patients may only see you twice a year for their checkups. This can make determining standard hours of operations difficult under “normal” circumstances, but remote services add more stress to the issue.

Here are some questions you need to consider regarding hours of operation in a telehealth-based world. By reviewing these and other factors, you can be more prepared for the changes that telehealth services bring.

• Do you want to set aside certain hours for emergency vs regular visits?
• Will telehealth services only be for non-emergent clients? How does this relate to cleanings?
• If your in-person support team are necessary for your business operations, how do their positions fit into telehealth practices? Is there room for them to work remotely if possible?

PROGRAMS

There are many different platforms available for telehealth programs. However, an important thing to note is that not all of the popular options (Skype, Facetime) offer HIPAA Compliant regulations for their video conference services. Platforms that provide HIPAA compliant protected teledentistry services include Cisco, GoToMeeting and Zoom. Since the privacy, protection, and security of your clients is of vital importance, this is an important aspect to keep in mind. It is also likely that some training for telehealth platforms may be needed for both staff and patients, so preparation in this area can be very helpful for all involved. For example, consider training and designating one staff member to be the “go-to” person for all things related to the technical side of telehealth services.

PAPERWORK

Much of the administrative aspect of running an efficient dental practice relates to the proper use, storage, and disposal of patient-sensitive paperwork. When it comes to preparing your office for telehealth services, make sure to go through these questions about paperwork to ensure as seamless a transition as possible.

• Do you offer your patients a disclosure form to receive teledentistry services?
• How do you plan to store paperwork from telehealth visits for record purposes?
• What systems do you have in place to properly secure paperwork if moving them from one program to another?

NEED HELP?

Want to implement teledentistry options during this time of uncertainty but aren’t sure where to start? Dr. Coughlin is here to guide, support and encourage you now and in the future to grow and sustain a dental practice that goes above and beyond. Call us today!

3 Simple Characteristics of Successful Dental Practice Owners

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As an aspiring dental entrepreneur, you know that being at the top of your craft is of utmost importance. But when it comes to managing your own dental practice, your chances of achieving success increases if you possess certain personal and professional characteristics. The good thing is — all of these can be learned and practiced!

Ready to learn three simple characteristics that all successful dental practice owners have? Read on!

VISION-SHAPED AND GOAL DRIVEN

I’m sure you’ve heard the discouraging statistic that 95% of small businesses fail within a decade of first opening their doors. While that does appear to be a bleak prospect, keep in mind that by getting (and staying) informed of the common pitfalls that plague business owners, you can take active steps to avoid ending up in a precarious situation.

To that end, one important characteristic of a successful business owner is to have a specific vision and goals that go beyond just the bottom line. Think preemptively about the many details that go into effectively running a business- things like staff, payroll, accounting, and software program solutions. The ability to balance your larger goals as a dental practice owner with the seemingly smaller day-to-day operations functions can go a long way to paving the way for your success.

ASTUTE AND EFFECTIVE MARKETERS

The difference between a successful business and one that struggles is often found in the way that they approach marketing. Do you know who your target market is? Similarly, do you have an ideal client sector you want to reach? Is your practice’s marketing messaging aligned with those goals?

If you are not able to reach the right customer with the right messaging, your business can end up suffering in the end. It might not seem obvious right away, but eventually, the need to narrow in on your desired target market becomes vitally important, especially in the face of any competition.

A successful business owner knows how to market their services to their ideal clients.

HUMILITY AND WISDOM TO ASK FOR HELP 

Entrepreneurship does require a level of self-reliance, which is in and of itself an excellent trait to have if you plan on opening your own dental practice. However, no one can do everything perfectly all the time. If you want to focus on your clinical efforts, for example, you need to rely on other people and/or systems to help manage the operations, marketing and other functions necessary to make your practice successful. It can be tempting to try and do it all yourself, but humility and knowing your limits helps protect you from burn-out and also encourages confidence in the members of your team. Dental practices do not consist of only the dentist. If you want your practice to be successful, humility is a practical characteristic that benefits not only you but the whole business as well.

WANT MORE GUIDANCE?

This post has explored three very basic characteristics of successful business owners. If you want to learn about more examples or feel there are areas you know you need guidance on, contact Dr. Coughlin today. Bridge the gap between knowing what it takes to run a wildly successful dental practice and actually doing it!

 

 

Benefits to Owning a Dental Practice

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The decision to open your own dental practice versus working as an associate at a larger managed organization is one that only you can make. However, if you’ve never thought about owning your own dental practice, there are benefits to it that you just can’t get as a dental associate. 

Take the time to weigh the pros and cons of each option to make the best decision for you and your desired lifestyle. 

Interested in opening your own dental practice? Here are some benefits of taking that entrepreneurial step. 

 

FREEDOM TO OPERATE AS YOU WOULD LIKE

Unlike managed organizations, if you own a dental practice, you’re free to run operations as you see fit. Practically speaking, this means that you call the shots of what goes on in the office; there are no middlemen making decisions for you. Even decisions like benefits for your team or customer service guidelines are in your hands. If you like the idea of truly being your own boss and enjoy detailed work, owning your own dental practice is a good option to consider.

 

MAINTAIN YOUR IDEAL ENVIRONMENT AND TEAM

A key benefit of owning a dental practice is the degree of control you have over the environment and team choices in the office. Instead of being forced to work with what you have, you can decorate the practice to your preferences. You can also hire employees that you have a personal connection with who may not otherwise be chosen in a larger organization. Because a dental office’s environment can play a big part in overall patient satisfaction, keep this in mind in the process of deciding what career path to take. If you value the ability to express your own individuality in the workplace, owning a practice could be a great fit.

 

SCHEDULE/FLEXIBILITY

Time: none of us seem to have enough of it, and busy dentists are no different, regardless of where they work. However, if you’re a practice owner, you ultimately get to decide the hours and schedule you want to work. Of course, dental practices are businesses. Things don’t always work out the way they should on paper – something inevitably always comes up at the end of the day. But the fact of the matter is that you still have the ability to choose and regulate the hours of your practice versus being forced to adhere to a set schedule each week. This kind of flexibility is appealing to many dentists.

 

WEAR MANY HATS

As an owner of a dental practice, you’re able to do far more than just interact with patients. You’re the decision-maker for the marketing, accounting, stability, and growth of your business – which means you wear a lot of hats. If you’re excited by the challenge of operating several different projects at once and get bored with performing repetitious tasks easily, owning a dental practice is right up your alley. At any given time, there’s always a different project to work on. Overall, your role as a business owner can be very administratively focused, especially when compared to an associate dentist in a managed dental organization.

 

FINANCIAL BENEFITS

Finally, owning your own business gives you significant financial benefits. Instead of working as an associate for someone else, you’re able to build wealth for yourself. There are also tax benefits to running a dental practice. Take advantage of the savings from writing off business-related expenses to maximize your financial gain.

 

WANT TO OPEN YOUR OWN DENTAL PRACTICE?

If you’ve decided to open your own dental practice, that’s great! Contact us today and let us help you grow and develop your business into a reputable and successful dental practice in your community. 

 

The rise of corporate dentistry is relentless

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The rise of corporate dentistry is relentless. With rapid expansion and almost limitless budgets, dentist/owners are being forced to compete against entities with incredible purchasing power and efficiencies of scale that are almost impossible to achieve as a solo owner.

Shockingly, many dentists aren’t even aware of this growing threat to their business. Corporate dentistry  – which include Managed Service Organizations (MSOs) and Dental Service Organizations (DSOs) – is growing at a rate of between 40 and 45 percent each year.

What is the difference?

Dental Service Organizations are usually chains and run like franchises. Some have a universal look and feel along with strict franchise practices and branding. Some existing dental practices may be permitted to retain their own unique character and feel. However behind the scenes the operations are often changed to favour certain suppliers and adopt uniform business practices.

If you are a dentist who hates the nuts and bolts of running a business, I can certainly see the appeal of such an arrangement. However, if you are like myself, and have an entrepreneurial outlook, such a scenario might seem a bit constrictive.  

The bigger issue is with the second type of corporate arrangement, Managed Service Organizations or MSOs, and its relationship to venture capital and equity firms.

Equity firms typically invest short-term.  When they get involved with dental firms the goal is to triple or quadruple their money over a 3 to 7 year timeframe. This puts a lot of pressure on the dentist and staff as the investors constantly demand increased efficiencies to maximize profits. If you hated running a business before, this model is not going to change how you think about it.

Long-term sustainable growth is not the goal. Maximizing return for investors in the short term is. Indeed what often happens is that the practice is flipped to new ownership frequently as the old owners cash-out. And the process of revenue squeezing starts all over again.

This focus on short term results can damage a practice’s reputation in the community and leave it open to competitors who are taking a longer view and choose to compete on service rather than price.

In the end how you run your business is up to you. The important thing is to have all the information and understand the ramifications, both positive and negative, before you make any decisions.

Ready to Get Started?

If you are interested in learning how to take your dental practice to the next level, please contact Ascent Dental Solutions today at 413-224-2659 to learn how Dr. Coughlin can help.