Dear Friends, March 2017
I was a child of the late 50’s and early 60’s raised in a
Catholic family. For those of you who were not raised in
such a family, you may not have had the experience of
riding in a family car under the protection of St.
Christopher. In those days, automobiles had metal
dashboards and no seat belts. It seemed almost every other
vehicle had a four inch plastic statue of St. Christopher
magnetically held to the dashboard. I can remember when
my parents got a new car, they would be sure that the St.
Christopher statue was reinstalled in the new vehicle.
Most people at the time thought of St. Christopher as the
“patron saint of travel”. This patron of travelers gets his
patronage from a thirteenth century legend about a giant
man. He lived alone along the bank of a raging river and
he would help travelers cross in safety. So it happened one
day he helped a small child, who was traveling alone
cross. Thus, the universally accepted imagery of the patron
saint of travel carrying a small child on his shoulders as he
crosses the turbulent river.
Now at this time, it is not certain that this legend ever
existed. During those days, many families felt more secure
with that plastic statue protecting them. There are all kinds
of protection in this world. Sometimes all it takes is a
symbol of protection, other times we need more concrete
evidence of that protection. Things like a visible police
force, locks on our doors, and neighbors and friends that
look out for us all help us feel more protected.
In our practices, we need to feel protected sometimes as
well. Having a dashboard to look at with our practice can
be a great protection of our profitability, our goals, and our
overall happiness in practice. Your practice dashboard is a
list of key practice indicators that you should track daily to
watch trends, make decisions on managing your practice,
and plan for the future. So what is on your dashboard?
Here are some suggestions for you to start with:
1. Over the Counter Collections
This is the amount of today’s collection you
collected from today’s production. It should be expressed
as a percentage. Typically, we want this to be 30-35% of
today’s production. This shows how well your staff is
collecting the patient’s portion of the day’s fees.
2. Overall Collections
Keeping track of today’s total collections is essential to
keeping track of where you are at that point in the month.
You should have an idea of the average collections you
need to meet your goal.
3. Production per Hour for Doctor and Hygienist
Improving production per hour is the one sure way to
improve your profitability. Keeping daily tabs on your
hourly production, as well as, the hygiene hourly
production is essential to your success. In a typical
practice, an increase of $50 per hour could mean
$60,000 in additional profit.
4. Number of New Patients by Source
Tracking the number of new patients each day is important.
However, it is even more important to track the source of where
those patients come from. This is the only true way to
determine how well we do on our internal and external
marketing.
5. Future Production Booked for the Next Month
The better the handle you have not only on today’s production,
what is on the schedule going forward, the more likely you will
take the actions necessary to maintain production goals. By
tracking future production, it provides better assurance of
consistent future production.
6. Accounts Receivable Balance
Managing your Accounts Receivable is very important to
managing your cash flow. Unusual changes in your Accounts
Receivable should be investigated immediately.
7. Conversion Ratio
Perhaps one of the greatest lies that dentists tell themselves is
the amount or percentage of treatment accepted. The only way
to be sure is to track the conversion ratio. In other words, what
percentage of the treatment presented today was accepted.
8. Percentage of Hygiene that is Perio
Many practices struggle to get or maintain a strong Perio
program. One of the best things you can do is track your daily
Perio percentage.
9. Number of Operative Patients Doctor Saw
One of the worst things a dentist can do is schedule too many
operative patients in a day. We have found doctors that have
more than 8-10 operative patients daily tend to actually lose
production. It is essential to be intentional about your schedule.
10. Number of Cancellations or No Shows
Most practices have some problem with cancellations and no
shows. It is very helpful to track not only the number, but also
if there is a particular hygienist or doctor with higher
percentages.
The key to success in practice is “what gets measured gets
done”. It may not be as good as a St. Christopher statue, it is the
next best thing!
“Science cannot progress without reliable and accurate
measurement of what it is you are trying to study. The
key is measurement, simple as that.”
Robert D. Hare
Published
Monthly
Qualified Retirement Plans in Dental Practices - Then & Now by: Ted Schumann, II, MBA, MSF, AIF®, CFP®
outlines how plan assets should be
managed, identifies any extenuating
circumstances, identifies all plan fiduciaries
including the investment committee, and
the scope of each party’s authority.
A documented evaluation process and a
formal Investment Policy Statement are
recommended for trustee directed plans,
where the investments are pooled and the
plan sponsor makes all the investment
decisions. They are also recommended for
participant-directed plans, where plan
participants choose their own investments
according to their own risk tolerance, time
horizon, and investment expertise.
Plan fees were also overlooked or ignored
in the past. Most rational people
understand that no one works for free. Yet
it was not until relatively recently that 401
(k) and Profit Sharing plan fees got any
attention. They are now required to be
disclosed. Admittedly, disclosures are not
necessarily easy for most plan participants
to interpret, but it is a step in the right
direction.
For years, plan fees, commissions, and
revenue sharing arrangements were buried
in mutual fund expense ratios and out-of-
pocket costs were low or non-existent.
Seldom did the practice owner or employee
-participants know who they were paying to
do what and how much. Worse than that,
most investment professionals were held
only to the “Suitability Standard”. This
meant that as long as an investment’s risk
was not inappropriate for the investor’s
situation, it was appropriate and acceptable
to sell the client the highest commission
product available.
This is a far cry from the way most dentists
do business. In my experience, most
dentists give their patients treatment options
based on the patient’s case and
circumstances. Treatment options will vary
in cost and feasibility, however, the patient
has enough information to make an
informed decision about their health. The
When many 401(k) and Profit Sharing plans
were first adopted by dental practices, the
main focus was on sheltering tax. Owner-
Doctors would set up these plans to allow for
tax-deductible funding and tax-deferred
investing for their employees and
themselves. This worked very well
historically, and still works very well today
to allow Doctors and staff to build sizeable
retirement nest eggs. In the old days, it was
not uncommon for all participant money to
be pooled in the 401(k) or Profit Sharing
plan. Furthermore, Doctors would often take
it upon themselves, as the plan sponsor, to
make investment decisions on behalf of the
plan. Some plans even run this way today.
While this arrangement did not give the
participants much control over their accounts
or transparency in their investments, it did
not generally create major problems as long
as Doctor, or their advisors, invested the
funds prudently and responsibly. It was not
until some business owners decided to get
“creative” with plan investments that
problems arose. Consider the business
owner that determined real estate would be a
good plan investment, so they used the plan
assets to finance the purchase of a cottage.
This kind of activity prompted regulators
like the Department of Labor (DOL) to hold
plan sponsors more accountable for the
investments they made available inside
retirement plans. To be most compliant with
DOL regulations, the plan must demonstrate
a documented process for evaluating and
screening investments for inclusion or
exclusion from the retirement plan. As you
can imagine, an evaluation process is
generally not friendly to investments that are
opaque. There has been a trend toward
increased transparency for this reason.
It is not incumbent upon the plan sponsor to
choose the best performing investments.
However, it is imperative that a plan sponsor
shows criteria for selecting the investments
they used. For example, it is a best practice
for a 401(k) plan to have a signed Investment
Policy Statement. This is a document that
Page 2 Dental Business Success
Inside This Issue 4 Dr. Dan’s Corner:
The Relentless Pursuit of Value
5 Reporting Unclaimed
Property 6 Reviewing and
Revising Your Fees…It Is That Time Again
7 Staff Spotlight 8 Good News! 8 Computer Tips &
Technology 9. Associate for Your
Dental Practice: Do You Need One?
10 Practice
Opportunities & Associate Positions
11 Email Us!
Page 3
The new Fiduciary Standard is
nothing new to Registered
Investment Advisory firms like DBS
Investment Advisers, LLC. We have
always been held to the Fiduciary
Standard. So for firms like ours, it
is business as usual. For the more
commission-oriented Broker Dealer-
type firms, this is a major paradigm
shift. Some of these firms have
decided to discontinue managing some
types of retirement accounts
altogether. For example, Edward
Jones has made significant changes to
their business model due to the new
requirements.
Retirement plan sponsors also have a
fiduciary responsibility and liability
for monitoring plan fees. Recently,
some plan sponsors have been sued by
plan participants (employees) because
of excessive plan fees. Excessive fees
are a result of the plan sponsors
breached duty to monitor and
benchmark plan fees. This includes
dentist does not offer only the
procedure that will generate the most
profit for the practice without giving
the patient some other options. Sadly,
that is exactly what many financial
salespeople were doing to their clients.
Fortunately, the Department of Labor
is turning this practice upside down.
Readers who know me well know that
it is seldom in my nature to welcome
even more regulation in the industry.
In this case, it makes sense. The
Department of Labor is now
expanding the requirements of
financial professionals that service
retirement accounts. All advisors will
now be held to the “Fiduciary
Standard”, which means they must
always act in the client’s best interest;
unless, and I wish I was making this
up, they qualify for an exemption
known as the Best Interest Contract
Exemption (BICE). Yes, a loophole
exists to actually exempt an advisor
from acting in the client’s best interest.
mutual fund expense ratios, revenue
sharing paid by plan investments,
advisory fees, and fees charged by
record-keepers (investment
companies), and plan administrators.
As you can see, management and
maintenance of retirement plans has
evolved over time. While dentists
were once able to make deposits into
their plans, take applicable tax
deductions, and invest the money as
they wished with little regard to fees or
investment process, those days are
gone. The bar is now higher and
decisions at a plan level must be made
more thoughtfully. In addition to
portfolio management, support of the
fiduciary process is a big part of what
we do for our clients. If you have not
thoroughly reviewed your retirement
plan lately, you need to. If you have
never reviewed your retirement plan, I
can help. Feel free to contact me at
[email protected] to schedule a
no-obligation fiduciary review.
month recalls for her and Mr. Tightwad
which will occur right after they return
from their winter home in Florida. The
scheduling coordinator then offers a core
and crown appointment for Mr.
Tightwad. Mrs. Tightwad immediately
chimes in that they will talk about that at
their next appointment. The scheduling
coordinator again slips into education
mode and does a great job making the
point that if Mr. Tightwad wants to keep
his tooth, a crown is essential. She even
offers to rush the process along so the
crown can be cemented before the
couple leaves for Florida on January
2nd. Mrs. Tightwad again refuses and
the scheduling coordinator feels sorry for
Mr. Tightwad who has been staring at
the floor during this entire interaction.
Mr. and Mrs. Tightwad head out the
door into their new Cadillac which still
has the sticker in the back window. This
car has just replaced their two year old
Cadillac. They do need a safe car to
drive to their winter home in the
Sunshine State after all! March rolls
along and the Tightwads arrive home
from Florida to find a postcard in their
mailbox reminding them of their
appointments in a couple weeks. Mrs.
Tightwad calls the office and insists on
moving their appointments back to July
because when you are on a fixed income
you are not able to spend that kind of
money.
Mr. and Mrs. Tightwad come into your
office for their “cleaning” appointments
in July. The hygienists check the charts
and realize that they have not been in for
eight months despite their history of
perio treatment and the fact that both the
hygienists and doctor recommended
three month recalls. Mrs. Tightwad
presents with progressing perio and her
usual downright nasty attitude. Mr.
Tightwad presents with progressing
perio and a massive hole adjacent to
tooth #3. The hygienist works her tail
off on Mrs. Tightwad, re-educates on
perio disease for the 16th time, and urges
a three month follow up appointment.
The other hygienist works her tail off on
Mr. Tightwad, re-educates on perio
Try not to smile when you think of the
exact patient family in your practice that
I am talking about. Mr. and Mrs.
Tightwad come into your office for their
“cleaning” appointments in mid-
December. The hygienists check the
charts and realize that they have not been
seen in eight months despite their history
of perio treatment and the fact that both
the hygienists and doctor recommended
three month recalls. Mrs. Tightwad
presents with progressing perio and her
usual downright nasty attitude. Mr.
Tightwad presents with progressing
perio and a failing ancient, huge
amalgam on tooth #3. The hygienist
works her tail off on Mrs. Tightwad, re-
educates on perio disease for the 15th
time, and urges a three month follow up
appointment. The other hygienist works
her tail off on Mr. Tightwad, re-educates
on perio disease for the 15th time, urges
a three month recall, makes the patient
aware of the failing huge amalgam on
tooth #3, uses the intraoral camera to
display this condition to the patient, and
does a fantastic job of educating him on
the need for a crown on this tooth. The
doctor comes into the room and does her
exam on Mrs. Tightwad. She backs the
hygienist up on the importance of
maintaining the perio condition and does
her best to educate Mrs. Tightwad some
more as Mrs. Tightwad gets a nasty look
on her face and rolls her eyes. The
doctor then goes to the room next door
to do her exam on Mr. Tightwad. Mr.
Tightwad is alarmed by his perio
condition and really does not want to
lose tooth #3. He listens to the hygienist
and doctor, agrees to a three month
recall, and seems ready to schedule the
crown on #3.
This couple then goes to the front desk
to meet the scheduling coordinator. The
scheduling coordinator first offers both
patients a three month recall
appointment. Mrs. Tightwad snaps that
when you are on a fixed income, you are
not able to spend that kind of money.
The scheduling coordinator then goes on
to re-educate yet again on the
importance of maintaining perio. Mrs.
Tightwad reluctantly agrees to four
disease for the 16th time, urges a three
month recall, makes the patient aware of
the massive hole, uses the intraoral
camera to display this condition to the
patient, and does a fantastic job of
educating him that this tooth is in serious
trouble and that they will have to ask the
doctor if she can save it. The doctor
comes into the room and does her exam
on Mrs. Tightwad. She backs the
hygienist up on the importance of
maintaining the perio condition and does
her best to educate Mrs. Tightwad some
more as Mrs. Tightwad gets a nasty look
on her face and rolls her eyes. The
doctor then goes to the room next door to
do her exam on Mr. Tightwad. Mr.
Tightwad is alarmed by his perio
condition and really does not want to
lose tooth #3. He listens to the hygienist
and doctor, agrees to a three month
recall, and is very disappointed when the
doctor recommends extraction of tooth
#3.
This couple then goes to the front desk to
meet the scheduling coordinator. The
scheduling coordinator first offers both
patients a three month recall
appointment. Mrs. Tightwad snaps that
when you are on a fixed income you are
not able to spend that kind of money.
She then expresses dismay that the
doctor cannot pull Mr. Tightwad’s tooth
that same day. Mr. Tightwad stares at
the floor.
Smiling yet because this couple are
patients of yours? Perhaps dismayed,
crying, or getting depressed instead? As
I wrote the story above I had a mental
image of the real Mr. and Mrs. Tightwad
that I used to see in our practice. We all
have them and they drive us all nuts. Is
it any wonder that dentists get
unsatisfied, depressed, and burned out?
The true issue in the vast majority of
cases, when treatment that we and our
teams recommend is rejected, has
nothing to do with the patient’s ability to
pay for the recommended treatment. It
has everything to do with the perceived
value of the recommended treatment.
Truth be told, dentists compete very little
Page 4 Dental Business Success
DR. DAN’S CORNER: The Relentless Pursuit of Value by: Daniel Peters, DDS
Page 5
Reporting Unclaimed Property by: Rachelle Fenwick, Asst. Accounting Manager
March 31
Identify properties that could be reportable
as unclaimed property as of March 31
April 15
**Prepare and mail due diligence letters to
those property owners identified as
inactive.
May 15
Determine property owners with whom
contact has not occurred (i.e., returned
mail, no response, etc.)
June 1
Begin preparing the annual unclaimed
property report using reporting software.
A free version of the software may be
downloaded at the website listed above
located in the Reporting Unclaimed
Property section.
On or Before July 1: Mail the electronic
media containing the annual unclaimed
property report, Michigan Holder
Transmittal for Annual Report of
Unclaimed Property (Form 2011) and
remittance to the Unclaimed Property
Division. If your entity has no unclaimed
property to report, you do not need to file
anything.
**Michigan law requires holders to send
written notice to owners at their last
known address informing them that they
hold property subject to being turned over
to the State. This requirement only applies
if all of the following conditions exist:
1. The address for the owner does not
appear to be inaccurate
2. The property has a value of $50 or
more
3. The statute of limitation does not bar
the claim of the owner
Notice must be sent not less than 60 days,
nor more than 365 days, before the filing
Most businesses have unclaimed property
resulting from normal operations. Any
asset, tangible or intangible, belonging to a
third party that remains unclaimed for a
specified period of time is considered
unclaimed property. For example,
uncashed payroll checks must be turned
over to the State after one year. Most other
property types, such as vendor checks and
accounts receivable credit balances, must
be turned over after three years.
Government entities must turn over all
unclaimed property, regardless of property
type, after one year.
Michigan’s Uniform Unclaimed Property
Act, Public Act 29 of 1995, as amended,
requires businesses and government
entities to report and remit to the Michigan
Department of Treasury abandoned and
unclaimed property belonging to owners
whose last known address is in Michigan.
In addition, every business or government
entity that is incorporated in Michigan
must report and remit abandoned property
belonging to owners where there is no
known address.
An outstanding payroll or commission
check has a one year dormancy period. A
refund due to a patient or a credit on your
accounts receivable has a three year
dormancy period. For a complete list of
property dormancy periods, see the
dormancy chart in Appendix A of the
Treasury website. That website is
www.michigan.gov/unclaimedproperty.
The due date this year for filing the
unclaimed property annual report is July 1,
2017, for property reaching its dormancy
period as of March 31, 2017. The
recommended timeline for Unclaimed
Property Review is as follows:
of the report. See the Appendix for
samples of due diligence letters.
Complete instructions and forms are
available in the Manual for Reporting
Unclaimed Property.
The amount of properties that a holder
reports determines the method for
reporting.
Those reporting 10 or more properties –
File using free third-party software
Those reporting less than 10 properties –
File using free third-party software or
paper forms.
Holders who have previously filed
unclaimed property reports with the State
of Michigan now have the ability to remit
payment for their unclaimed property
report. Since this payment method
requires validation, this payment method is
not available to first time filers.
Treasury is providing entities that have not
previously reported or have underreported
unclaimed property in the past with an
opportunity to voluntarily comply with the
requirements of the Michigan Unclaimed
Property Act (Act) by offering a Voluntary
Disclosure Agreement.
Entities that submit a Voluntary Disclosure
Agreement indicate their desire to be
compliant with the Act. Accordingly, the
holder agrees to voluntarily comply with
the Act by reporting and remitting
previously unreported unclaimed property
due the State of Michigan. In accordance
with the Voluntary Disclosure Agreement,
the holder agrees to accurately complete
and file unclaimed property reports and
remit payments for the current reporting
year and the previous four reporting years
within six months from the date the form
is filed with the Unclaimed Property
Division. Holders will not be assessed
penalties or interest.
Side Note: The ADA just repor ted
that in 2015 the average income for GP
dentists was $179,960. For Specialists,
the average income was $320,460 for
the same period. For owner GP’s, the
average income was $195,200. For non-
owner GP’s, income was $132,370.
When adjusted for inflation, GP income
has dropped significantly since the peak
in 2005 when earnings had a value of
with each other in the marketplace. Our
true competition is companies like
Starbucks, Apple, Amazon, and BMW
as well as airlines, vacation destinations,
and spas.
Next month I’ll cover how we go about
building value to compete with our true
competitors.
$219,638 when adjusted to 2015 dollars.
This bothers the heck out of me. If you
are experiencing this same alarming
trend in your own situation, please give
me a call and let’s talk about it.
Dental Business Success Page 6
Reviewing and Revising Your Fees…It Is That Time Again by: Donna Rosebush Practice Management Consultant
located in the Reporting Unclaimed
Property section. If you have any
questions, please call your accountant for
further details.
What’s NEW?
Senate Bill 538 amends the Uniform
Unclaimed Property Act of 1995 effective
12/22/15. Properties with a value of
$25.00 or less are not required to be
escheated per Section 567.224a Sec 4a.
Does not apply to dividends or stock-
related properties defined in Section
567.231a Sec. 11a.
If a property holder fails to properly file a
report, penalty and interest may be
assessed as follows:
Interest at one percentage point above
the adjusted prime rate per annum per
month on the property or value of the
property from the date the property
should have been paid or delivered,
and /or
Penalty at 25 percent of the value of
the property that should have been
paid or delivered.
The information for this article can be
found online at
www.michigan.govunclaimedproperty
These properties can still be
voluntarily escheated.
New streamlined audit option described in
Section 567.25 1b Sec. 31b for businesses
whose principal place of business is in
Michigan as defined by Section 567.222
Sec. 2. This is retroactive and applies to
audits in progress as of August 15, 2015,
but does not retroactively apply to
contested determinations in litigation
before the date of enactment of this
amendatory act.
determined closer to the 70th percentile.
So what happens if you hold off on adjusting your fees for two or more
years? Your vendors are keeping up with
inflation without regard to your personal
aversion to raising your fees. Do you
know where your fees rank? Is it
possible that the dentist next door is being
reimbursed at a higher level by the same
insurance company? Is it feasible that
your reimbursement is being stifled
because you fail to increase your fees due
to a misguided understanding that once you reach that magic number where the
insurance company no longer pays your
full fee you believe that you finally broke
their “code” and forever more leave your
fee set there? The truth is that other than
the PPO contracts that provide you with a
set fee schedule, most other companies
raise or lower your reimbursement based
on the fees that you submit. If you are
not writing off a significant amount (up to
20%), chances are you are stifling your own reimbursement.
Is your recare retention ratio at 85% or
above as evidenced by the number of
periodic exams being billed? Are you
coding and billing properly for the
periodontal procedures being performed by your hygiene team? Are you properly
coding Palliative Treatment instead of
Kick off 2017 by taking charge of your
profitability! Act today and save $300 by taking advantage of the following
valuable special offer before April 30,
2017.
Ideally, I recommend to each of our
clients that they review their fees at least
once per year, preferably in the same
month each year. Since 2017 is a new
beginning, it is a great time to initiate
new fees. Staff reviews are often
conducted around the first of the year. Although wage increases should always
be based on merit, rather than mere
longevity. It is always easier to fund well
earned increases at the same time
production and collections are also on the
rise.
We are astutely aware that the insurance
companies are not looking for ways to
overcompensate the practice. They wait
to increase your reimbursement level
until you actually ask for it by submitting
higher fees. It used to be that many of the
insurance companies would base their
“UCR” (usual and customary
reimbursement) on the 80th percentile.
They would eliminate the top 20% of
submitted fees and payout based on those dentists in the top 80%. We are now
finding that the reimbursement level is
Limited Focused Emergency Exams?
Are you adequately tapping into the opportunity to provide a higher standard
of care by offering Adult Fluoride,
Sealants, Occlusal Analysis and Guards,
or cosmetic dentistry? And are you
realistically aware of how much money
you may be leaving on the table by not
knowledgably aligning your fees?
Proper coding and well aligned fees result
in higher reimbursement and evidence of
higher standards of patient care, while
adding potentially hundreds of thousands of dollars to the bottom line.
Most importantly, if you find reviewing
and adjusting your fees to be a time
consuming, frustrating exercise of
uncertainty that you avoid at all costs, do
not turn your back on the process. Delegate the process by hiring an expert
that can help you navigate your way to a
healthier income. You deserve to be
properly compensated for the great work
that you do!
The DBS Companies care about all of our
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Page 7
DBS Staff Spotlight!
Nikoloz Khubutia Staff Accountant
1. What are your responsibilities at DBS? I currently work under the supervision of our Accounting Manager, Britni. My responsibilities include monthly accounting, preparation of certain state and federal tax returns, as well as, year-end reviews. 2. If you could do another job for one day, what would it be? If I could start all over again, I would consider becoming a dentist.
3. Do you prefer paper books, e-books, audio books, or none of the above? I love listening to stories, therefore, audio books work best for me.\ 4. What would be your first choice for a superpower?
Reading other people’s minds.
“MONEY MATTERS” WITH TED SCHUMANN II FREE SEMINAR! TWO FREE CE CREDITS!
Every dentist has to make financial decisions over the course of their career.
The consequences of these decisions may be unclear, or may change as the doctor’s circumstances evolve.
This seminar is designed to address the common financial issues encountered by dentists and how to approach
them for the best possible outcomes.
*Earn 2 FREE continuing education credits for attending this seminar. Vouchers will be available at the seminar.
Click here for more details and to register.
Tuesday, Mar. 28, 2017 6-8 p.m. EDT
Paesano Restaurant in Ann Arbor, MI
Cost: FREE to MDA members*
results in recommendations based on
hundreds of other practices and national benchmarks, while spotting and outlining
any untapped potential that may have
gone unnoticed in your practice. Also, up
to a one hour coaching session to review
the fees and ADA code usage
recommendations (either in our office or
via a visual teleconference) is included in
this special pricing package.
Do not Wait--Schedules will fill Quickly!
Prior to April 30th please:
If you choose to take advantage of this
valuable offer, you will be given a color coded spreadsheet outlining specific
recommendations for each fee. With the
aid of your dental software’s Production
Summary Report, I will also provide you
with a detailed written frequency
analysis. This valuable aspect of the
reporting process reviews the number of
times each procedure code was (or was
not) performed over the year and the level
of production generated by each code.
This in-depth study and written report
Call Kelley Kelly 800-327-2377
(extension 132) or email her at
to schedule your appointment.
Provide your current office fee
schedule, your dental software
Production Summary Report for the
past 12 months, and your actual
Active Patient Count.
Fee surveys will be compiled and
analyzed on a first come first served
basis. Call today to reserve your
place in the schedule.
Computer Tips & Technology by: Joyce Olson-Burpee, Computer Operations Manager
on in the world of technology help you
review things out there that can harm
your system.
It is important to have your
information protected, especially if
your computer systems harbor
confidential information such as
customer’s names, addresses, and
social security numbers. These are the
things people use to steal identities.
Please be sure your company is taking
care of the important things on your
computer and have a qualified person
or company taking care of the
necessary security. A qualified person
will be able to block the security flaw
that was announced and not patched by
Microsoft (SMB2 TREE-
CONNECT…). They will most likely
patch this on their next update. In the
meantime, computers can fall prey to
this flaw.
What do you think of a company not
taking a security exploit serious? I
think it is criminal. With all the ways
the hackers and crooks can get into our
computers anyway, it is terrible that a
company as big as Microsoft does not
patch a security issue even after they
had been told of it three months
earlier.
The security hole has now been
released into what is known as the
wild so anyone can exploit the
problem if they know how. That falls
into many people’s realm of
knowledge. There should be a huge
fine for companies that are told about
security flaws and do not fix them.
They should be held accountable for
any damage that it causes their users.
I know many people have no idea how
to fix these things themselves. It is in
your own best interest to have a friend
or a company that knows what is going
If you have a connection to the internet
and you have not hired a security
person or company, it would be in
your best interest to do so.
Happy computing!
Page 8
Have a Newsletter
Article Idea You
Would Like to See?
We are always
looking for ideas, questions,
or comments
regarding our newsletter
articles!
If you have an idea for an
article or a question you
would like answered,
please email
Regan Duperon at
Dental Business Success
Good News!
Congratulations to Dr. Alan K. Charnley
on the successful transition of his dental
practice. Best of luck to you in all your
future endeavors!
Congratulations to Dr. Timothy W.
Kowalski on the successful transition of
his dental practice to Dr. Jeremy Bezzo!
Best wishes to both Doctors!
QuickBooks Quickies!
For those of you who are just starting with QuickBooks here is your first tip
Did you know you can customize and move that icon window that is on the left
side of the screen?
Go to view
Then look at the second section, (first one is open window list).
You have the ability to put that icon window at the top, leave it on the left, or hide
it all together.
You just need to change where the checkmark is on the list.
You can also customize the icons by choosing the customize button under view.
You can remove many of the icons you do not need in this program to make it
much cleaner.
One more quick thing: you can add the screens you go to the most under favorites.
Just click the favorites from the menu bar and then click customize. This will let
you choose what things you go to most and put them in whatever order you would
like.
Here is to being quicker in QuickBooks!
For example, if the Associate starts an
ortho case and then leaves, how do you
determine how this case will be
completed if you do not do ortho?
A new factor we need to look at now is
insurance in your office. Are you a
Delta Premier provider? This could be
an issue. Most new dentists applying for
an Associate position are not Premier
providers. How would you handle this
in your office? Will the insurance
company reimburse you with a different
fee schedule depending on the provider?
How will you determine what treatment
the Associate will provide if their fees
are lower than yours? Who will see the
new patients in the practice?
How will you determine if you and the
Associate can work together in
harmony? Are your practice
philosophies the same? Consider doing
a personality profile to ensure a good
match. What are the Associate’s
expectations for working in your
practice? Have a frank discussion about
your expectations and the parameters the
Associate would work under. What are
the personal and professional goals of
the Associate? What are your goals
concerning the Associate?
When you interview potential
Associates, you can give them an idea of
what you expect and what they can
expect. Although you can be somewhat
flexible with the Associate, it is good to
know the following:
Will the Associate be an
Independent Contractor or an
Employee?
How will they be compensated:
percentage of production or
collections?
Who pays for lab fees? and at what
percentage?
What benefits will you provide:
health insurance, retirement plan,
vacation, holidays, continuing
education allowance, malpractice
insurance, etc.?
Will you pay for dues, licenses, etc?
Are you thinking about bringing an
Associate into your practice? If so, there
are some questions that you need to ask
yourself. Why now? What will an
Associate do for you or your practice?
Do you want an Associate because you
are swamped, or you like the idea of
more free time, or because it worked for
your colleagues? In a different direction,
is the concept of hiring an Associate to
permit you to cut back, and having an
Associate could replace those hours and
keep your practice vital prior to an
eventual sale? Ask yourself if you are
ready to take less income home. If the
need is not real, then you are only
building in more overhead, reducing
your profit, and perhaps destabilizing
your practice. If your plan is to keep
your practice vital and still allow you to
cut back, then there are some ground
rules to hiring an Associate:
Do you have enough active patients
in your practice to give the
Associate enough hours to make it
worth their while to come work for
you? At the very least, you would
need 2,000 active patients to hire an
Associate.
Are you thinking that this Associate
is your built-in buyer for your
practice, a possible partner, or do
you want to remain in control and
just need help in your practice?
You need to determine if the practice can
accommodate an Associate. In addition
to the active patient count, do you have
enough treatment rooms for both you
and the Associate to work the same
hours? If not, you may need to increase
the office hours to do a staggered
schedule; so you can both work
efficiently. Do you have enough staff to
accommodate two dentists and to
increase office hours or will you need to
add another assistant to accommodate
the new Associate? Is there any
treatment that you currently refer out
that an Associate could perform thereby
creating a new profit center in the
practice? Is there any specific treatment
that you refer out that you would prefer
that the Associate not do in the practice?
What administrative tasks will be
their responsibility?
Will they have any management or
marketing duties?
Will they be a part of the practice
decision making process?
Will they be required to attend staff
meetings?
There is a long list of items to be
determined to have a successful
Associate Agreement. These are just a
few of the items you will need to
concern yourself with.
Whatever the reason to have an
Associate, you will want to plan ahead
before you bring the dentist into your
office; make sure you have all the
appropriate contracts in place to protect
both you and the Associate. You would
need to have an Associate contract that
spells out all your expectations of the
Associate’s employment, and a
Covenant not to Compete; should they
decide to leave your employment. The
Covenant not to Compete can be signed
with a 90-day clause; that way if either
of you decide before 90 days is passed
that it is not working, the Associate
moves on and there is no Covenant. Or
it is working and the Covenant goes into
effect as of the 91st day. There is no
harm to anyone that way. An Associate
cannot hurt your practice in 90 days.
Please have your attorney draft these
documents to make sure they are legally
binding and protect you.
The best suggestion I can make is to
have advisors, who know your individual
practice, help you determine if you are
ready for an Associate in your practice.
They will help you determine if your
practice is large enough for an Associate,
if you are ready for an Associate, or if
you can work with an Associate. They
will help you plan to attract the
Associate that would work best in your
practice. If you are thinking about an
Associate, call your DBS advisors today.
We welcome your questions regarding
Associates.
Page 9
Associate for Your Dental Practice: Do You Need One? by: Sarah Pajot, Transition Specialist
Practice Opportunities & Associate Positions
Southeast Michigan Practice available! Royal Oak area, Avg. Gross $796K, 5 ops, digital x-ray. Long-term, loyal
staff. Delta Premier, no PPOs. Lease space in great location! Reference PPB16R149
Northern MI – Easy access to I-75, Avg. Gross of $900K, 5 ops, digital x-ray, Eaglesoft Software. Open 4 days per
week. Located in a beautiful northern community. Reference PPB16S279
Western, MI ! Avg. Gross of $750K, 4 ops, digital x-ray, Cerec & Dentrix Software. Open 4 days per week. Must
see office located in beautiful waterfront community! Reference PPB15S275
PENDING ! Merger Opportunity in Grosse Pointes - Approx. Gross $600K. Space-share, move your practice into
this site. Delayed sale contracts all done before move, Traditional Insurance, 4 ops, room to expand, digital x-rays!
Reference PPB15R144
PENDING! NW Oakland County $1M practice - Delta Premier, very limited PPO, strong cash flow. Staff aware
and ready to support new owner. Seller assistance for limited period. Professional building-spacious suite.
Reference PPB16R151
North of Flint – Easy access to I75! North of Flint – Easy access to I-75, Quaint little town with access to a large
variety of quality shopping. Avg. Gross on 3 days a week is $600K, 4 ops, Eaglesoft, Dexis digital x-ray, building
available Reference PPB16S276
Associate Buy-In! Mid-Michigan practice seeking associate for general dental practice! Reference PPB16T334
Motivated Seller! Southern Michigan, - Delta Premier, 4 ops, room to expand, attractive brick building. Gross
$440K! Reference PPB15R143
Associateship Opportunity! Mid-Michigan Oral Surgeon seeking associate leading to quick buyout! Reference
PPB15T329
Saginaw Bay Area! Merger Practice, 4 ops, digital Dentech Software, avg. gross $450K, open 4 days/wk., refers
out endo, oral surgery, perio & ortho! Reference PPB16S277
DBS Professional Practice Brokers 800-327-2377
Ted Schumann, Randy Daigler, Sarah Pajot
www.adstransitions.com / www.dentalbusinesssuccess.com Find us on Facebook!
Search for us under
The DBS Companies
and “Like” our page.
Page 10 Dental Business Success
E-Mail Us!
PARTNERS:
Ted Schumann [email protected]
Jack Frank [email protected]
Ted Schumann, II [email protected]
ACCOUNTING:
Bailey Ciaciuch [email protected]
Britni Ketola [email protected]
Dawn Prime [email protected]
Debbie Love [email protected]
James West [email protected]
Jenny Bickham [email protected]
Maeona Carter [email protected]
Melissa Bourdon [email protected]
Nikoloz Khubutia [email protected]
Rachelle Fenwick [email protected]
Shelly Lowery [email protected]
Trisha Oberlee [email protected]
ADMINISTRATIVE:
Jacquelyn Duemler [email protected]
Sandy VanTol [email protected]
Ty Robbins [email protected]
BROKERAGE:
Nicole Duemler [email protected]
Randy M. Daigler [email protected]
Sarah Pajot [email protected]
COMPUTERS:
Joyce Olson-Burpee [email protected]
CONSULTING:
Donna Rosebush [email protected]
Kelley Kelly [email protected]
Toby Haske [email protected]
INVESTMENT ADVISORY:
Ted Schumann, II [email protected]
Gabby Sedrowski [email protected]
Jennifer Martin [email protected]
Regan Duperon [email protected]
LIFE COACH:
Dan Peters, DDS [email protected]
Approved PACE Program Provider FAGD/MAGD Credit Approval does not imply acceptance by a
state or provincial board of dentistry or AGD
endorsement 1/1/2014 to 12/31/2017 DBS ID: 33344
*The AGD requires completion of a survey prior to issuing Continuing Education credits.
The information herein has been obtained
from sources believed to be reliable,
but the accuracy of the information cannot be guaranteed.
BURTON/FLINT
Rent an operatory or more! Minimize your
overhead. Beautiful, conveniently located six
treatment room facility in Burton (near Flint) has
space available to share. Ideal for a specialist
(periodontist, orthodontist, endodontist, etc.) or GP.
Please reply to [email protected].
Associate Needed!
Solo doctor seeking full-time associate, experience
preferred, for a growing family practice with select
traditional insurances. Potential for equal partner-
ship within the next two years. Great work environ-
ment in attractive, state of the art equipment practice
with well-trained staff who will offer their continual
support. If interested, please reply to
Dental Business Sucess
Page 11
For Sale!
Kodak Trophypan
8000C—
SFAA062 Digital Ceph/
Pano Machine. 2002
model, purchased in 2004.
Asking $2,000. Contact
Dr. Dale Davis at
(989) 631-1334 for more
Page 11