Money

A look ahead to what dental codes will change and affect your practice in 2016 and beyondNo one has their finger on the pulse of coding changes that will affect your practice more than Teresa Duncan. She stops by to tell us what tweaks have been made that will affect your business.
Grow your practice or kill your practice?
Grow your practice or kill your practice?By using the techniques that I outlined in my book Grow Your Dental Practice with Wine and Cheese, I saw incredible growth in my practice. I sold over 950 plans over a two year period. Between the plans themselves and additional expenditures from plan members during those two years, I earned an additional 1.49 million dollars. My receipts grew by 45 percent a year for two years running. That’s an incredible rate of growth, and I only spent $130 and one hour a month to get it.
Transitioning a dental practice after death
Transitioning a dental practice after deathAfter a death, the transition from the seller’s side is a very emotional, disheartening and financially upsetting circumstance. The spouse of the deceased dentist was probably used to a very solid financial perspective and many times did not know what was occurring in the dental practice.
Dental insurance: An untapped source of cash flow
Dental insurance: An untapped source of cash flowBillions of dollars in dental insurance benefits are left unused every year. These benefits can be used for both general maintenance care as well as dental procedures, like root canals or emergency procedures. According to Forbes, only three percent of patients use all of their dental benefits annually, indicating that there is a significant dollar amount of benefits left untapped at the end of December.
5 insurance actions you can take now for a smooth 2016Teresa Duncan, insurance editor for Dental Products Report, offers advice on how to lower some of the pain that dental insurance causes for so many practices.
4 myths about money and the dental practiceMoney can be mysterious and can also be the source of stress in your practice. How you manage money has a direct impact on your ability to serve your patients’ oral health needs.
The importance of dental compensation studies
The importance of dental compensation studiesThere is a list of examples that will be addressed to explain the importance of compensation studies for the dental practice. Just like the importance of a written agreement when two or more partners exist in a dental practice to detail the role of each partner, among other things, compensation can become a disagreeable topic when the focus is after a dental practice is in full operating mode.
6 consultants you need to engage to plan your retirement
6 consultants you need to engage to plan your retirementSome of us plan better than others. Some of us save better than others. In my years in dental practice, I knew three types of dentists.
The 5 biggest misconceptions about imaging coding and reimbursement
The 5 biggest misconceptions about imaging coding and reimbursementDental technology and the material sciences are advancing at a rate never before experienced by the dental industry. It is difficult, if not impossible, for the average practitioner to understand and appreciate all the new “stuff” that has been developed and introduced to dentistry over the past 10 years. Things that not too long ago seemed like science fiction have now become reality.
Exploring average patient cost per practice
Exploring average patient cost per practiceSikka Software is a twelve-year-old company in the dental industry that provides apps to optimize the dental businesses. In this article, Sikka Software President and CEO Vijay Sikka outlines a recent study examining the average patient cost per practice.