Dr. Ivy Peltz and Dr. Eric Studley are both general practice directors and clinical associate professors at New York University College of Dentistry in the Department of Cariology and Comprehensive Care, where Dr. Studley is also the director of practice management and ergonomics.
Dr. Studley is the CEO of a nationally based insurance brokerage company, Eric S. Studley and Associates, Inc., specializing in the insurance and financial needs of dentists (www.drericstudley.com). Since 2001, Dr. Studley has consistently been the #1 disability producer in the United States with Guardian Life Insurance Company of America and Berkshire Life Insurance Company of America. In 2016, he received the Disability Quality Award and the Life Insurance Quality Award from National Association of Insurance and Financial Advisors. He is a Guardian Platinum Level Disability Insurance Inner Circle Member, Guardian Disability Agent of the Year, Guardian Elite Program Member, Guardian Platinum Advantage Life Member, he is in the Guardian President’s Council, the Guardian Executive Committee, the Guardian Leader’s Club and Past President of Guardian’s Field Force. He has been awarded numerous awards annually based on his extraordinary sales and persistence record.
Dr. Studley is a renowned speaker in the dental community, and has lectured throughout the country on the subjects of insurance planning, risk and practice management, ergonomics, ethics and case acceptance. He is recognized for his industry knowledge and outstanding ethical standards.
Dr. Studley is a speaker for the American Dental Association’s practice management program for dental schools throughout the country. He is a member of the Academy of Dental Management Consultants. Dr. Studley is a member of NYU Dental’s Omega chapter of O.K.U., a national dental honor society. Dr. Studley was nominated for Student Council Appreciation awards at New York University College of Dentistry in 2001, 2003, 2004, 2005, 2006, 2008, 2009 and 2010. In 2009, Dr. Studley was a contributing author of a practice management textbook for new dentists entitled “Dental Practice – Get in The Game.”
Dr. Peltz has a private practice in New York City (www.ivypeltzdds.com). She received a Masters in Higher Education Administration from Baruch College, The City of New York School of Public Affairs in 2005, followed by a PhD in 2012 in Higher Education from the Department of Administration, Leadership and Technology program in Higher and Postsecondary Education, Steinhardt School of Culture, Education, and Human Development, New York University, where her dissertation was nominated for Outstanding Dissertation. She is a fellow in the New York Academy of Medicine, The Pierre Fauchard Academy, the American College of Dentists and New York University College of Dentistry’s Academy of Distinguished Educators, and is a member of Omicron Kappa Upsilon (OKU), Omega Chapter. She has achieved Mastership in the Academy of General Dentistry. She is past president of the New York Academy of Oral Rehabilitation and the New York University College of Dentistry Alumni Association. Dr. Peltz has presented at annual meetings of the American Dental Education Association (ADEA) and the Association for Dental Education in Europe (ADEE).
Together, Drs. Peltz and Studley have published numerous articles and blogs. They write a quarterly wellness column for AGD Impact. Some of their articles and blogs include: “Determining when to make a change in your career,” “Successfully managing tough times,” “Maintaining your personal and professional relationships,” “Advice for building confidence as a new dentist,” “The Benefits of Unplugging to Recharge,” “Express Gratitude, Improve Your Well-Being” and “Finding your center with yoga and ergonomics” in AGD Impact, “Which residency program is right for you,”” How to get your patients to just say ‘yes,’” “Is a residency program right for me,” “How to build a long-lasting relationship with faculty members,” “Managing Work-Life Balance” and “Personal accounts on why you need insurance” in Mouthing Off: The blog of the American Student Dental Association, and “Career paths: Expecting the unexpected,” “Managing debt without deprivation,” and “5 things we wish we had known after dental school” in American Dental Association: New Dentist Now.
They are both the co-founders of Doccupations, an online algorithmic dental job matching website (www.doccupations.com). Based on their backgrounds in dentistry and dental education, Drs. Peltz and Studley were well poised to recognize a needed service in the dental profession. Year after year, they heard repeatedly about the difficulties encountered by graduating dental students who were looking for associate positions. On the flip side, Dr. Studley was hearing from his clients that they couldn’t find the job seekers that they needed. He began posting jobs on a weekly newsletter that he sends out from his insurance company. These posts began to multiply until Drs. Peltz & Studley envisioned and then created Doccupations, an online algorithmic dental job matching service for all dental professionals.
In the short time that Doccupations has been live to both dental job seekers and employers, they have seen a strong enthusiasm for this service. Both dental employers and job seekers are sharing their excitement for a product that matches and provides resources for them to review opportunities rather than working within the black hole of larger job boards. Doccupations’ philosophy is to populate itself with high value candidates and jobs. Their model ensures that you can review candidates that match your staffing needs. Employers are reporting that the product is easy to use and that they are finding quality candidates quickly to fill their open positions. Job seekers are reporting the same ease and success in completing their job search.
Industry leaders and associations are showing their support of Doccupations. Doccupations is a member benefit of the American Student Dental Association. That means that all graduating dental students are provided the opportunity to find their jobs through Doccupations. That is 94% of all dental students graduating each year and looking for employment. These 24,000 graduates will be coming to Doccupations first to match with their ideal dental job.
VIDEO - DUwHF #943 - Ivy and Eric
AUDIO - DUwHF #943 - Ivy and Eric
Howard: And it's just a huge honor for me today to be podcast interviewing Dr. Ivy D. Peltz and Dr. Eric S. Studley who I can assure you is a stud. They're both in New York right now. Dr. Ivy Peltz and Dr. Eric Studley are both general practice directors and clinical associate professors at New York University College of Dentistry. Now that's NYU
Dr Ivy: Yes.
Howard: With 7.5% of all the dentists in America graduated from NYU. That is a huge school. In the Department of Cariology and Comprehensive Care where Dr. Studley is also the director of Practice Management and Ergonomics. Doctor Studley is the CEO of a nationally based insurance brokerage company. Eric S. Studley and Associates, Inc., specializing in the insurance and financial needs of dentists and you can find his website at drericstudley.com. Since 2001, Dr. Studley has consistently been the number one disability producer in the United States with Guardian Life Insurance Company of America and Berkshire Life Insurance Company of America. In 2016 he received the Disability Quality Award and the Life Insurance Quality Award from the National Association of Insurance and Financial Advisors. He is a Guardian Platinum Level Disability Insurance Inner Circle member, Guardian Disability Agent of the Year, Guardian Elite Program Member, Platinum Advantages Life Member. He is the Guardian President's Council, the Guardian Executive Committee, the Guardian Leaders Club and Past President of their Field Force. He has been awarded numerous awards annually based on his extraordinary sales and persistent record. He is a renowned speaker in the dental community and has lectured throughout the country on the subject of Insurance Planning, Risk and Practice Management, Ergonomics, Ethics and Case Acceptance. He is recognized for his industry knowledge and outstanding ethical standards. My God here, I could go on for five pages, do you want me to keep going?.
Dr. Ivy Peltz, Ivy D. Peltz has a private practice in New York City at ivypeltzdds.com. She received a Masters in Higher Education Administration from Baruch College, the City of New York School of Public Affairs in 2005, followed by a Ph.D. in 2012 in Higher Education from the Department of Administration Leadership and Technology Program in Higher, in Post-Secondary Education. So you're a double doctorate, you're a double doctor...
Dr. Peltz: (unclear 02:26).
Howard: ...that is amazing, to become a doctor is one thing, to get a doctorate in two things. She's a Fellow in the New York Academy of Medicine, the Pierre Fauchard Academy, the American College of Dentists and New York University College of Dentistry's Academy of Distinguished Educators and is a member of Omicron Kappa Upsilon. Obviously, I'm not since I can't even pronounce it, Omega chapter. She has achieved Mastership in the Academy of General Dentistry. She is the Past President of the New York Academy of Oral Rehab and New York University College of Dentistry Alumni Association. She has presented at annual meetings of the American Dental Education Association and the Association for Dental Education in Europe.
Together Dr. Peltz and Studley have published numerous articles and blogs. They write a quarterly wellness column for AGD Impact. Some of their articles and blogs include: Determining when to make a change in your career; Successfully managing rough times; Maintaining your personal and professional relationships; Advice for building confidence as a new dentist; The benefits of unplugging to recharge; Express gratitude; Improve your well-being and Finding your center with Yoga and ergonomics; In AGD Impact which residency program is right for you; How to get your patients to just say yes; Is the residency program right for me?, How to build a long lasting relationship with faculty members. My God your bio's, the whole damn podcast is just going to be your bio.
They are both co-founders of Doccupations, an online algorithmic dental job-matching website at doccupations.com, which is why I asked you to come on the show. And based on their backgrounds in dentistry and dental education, Dr’s Peltz and Studley were well poised to recognize a needed service in the dental profession. Year after year they heard repeatedly about the difficulties encountered by graduating dental students who were looking for associate positions. On the flip side, Dr. Studley was hearing from his clients that they couldn't find the job seekers they needed. He began posting jobs on a weekly newsletter and he sends out from his insurance company. These posts began to multiply until Doctors Peltz and Studley envisioned and then created Docuppations, an online algorithmic dental job matching service for all dental professionals. In the short time that Doccupations has been live to both dental job seekers and employers, they have seen a strong enthusiasm for this service. Both dental employers and job seekers are sharing their excitement for a product that matches and provides resources for them to review opportunities, rather than working within the black hole of larger job boards. Doccupations philosophy is to populate itself with high-value candidates and jobs. Their model ensures that you can review candidates that match your staffing needs. Employers are reporting that the product is easy to use and they are finding quality candidates quickly to fill their open positions. Job seekers are reporting the same ease and success in completing their job search. Industry leaders and associations are showing their support for Doccupations. Doccupations is a member benefit of The American Student Dental Association. That means that all graduating dental students are provided the opportunity to find their jobs through Doccupations, that is 94% of all dental students graduating each year or looking for employment. These twenty-four thousand graduates will be coming to Doccupations first to match their ideal dental job.
So my question is this. It's easy for me to look at you two and know that demographically one's a man, one's a woman or if one's from China and one's from Ireland. But the hardest thing in dealing with people is when you realize that the Senior Citizens think differently than the Baby Boomers, who think differently than the Millennials, Generation Xers and my industry, my age group, I'm fifty-five. Like my mom's brother Pat, he got a job with Mobil Oil
Dr. Studley: We're sixty, so we're with you.
Dr. Ivy: You're a baby.
Dr. Studley: (unclear 06:13).
Howard: Yeah, my mom's brother Pat got a job with Mobil Oil when he was sixteen and he retired when he was sixty-seven and when you go to the largest market cap companies in the world FAANG: Facebook, Amazon, Apple, Netflix, Google, and Microsoft. Their average Millennial doesn't even stay two years. In fact, Apple's average millennial doesn't even stay a year. And when I talk to the big corporate dental chains like Aspen or Heartland, they make all the news and everybody was saying, well their doctors just turn and burn, the average one only stays there one or two years. It's the same in private practice and every time I talk to someone my age and I say, well what about getting associates and they go, you know it's not even worth it because you hire them and within a year or two they're gone. I mean Millennials are a different bird than Baby Boomers. So on Doccupations, my gosh, what is the burn and churn rate of a job of a graduate, of a kid coming out of dental school?
Dr. Studley: Well, great starting point. Simply because now it's a very different environment, between the two of us we've been teaching like thirty some odd years and it's a (unclear 07:33) to that Millennial student, the same way that you say they don't stay two years but now they also look at things a lot different, where they are more willing to plant, they're actually less likely to run around, they want to develop a quicker relationship and if they can settle in sooner. So my thing is more that older dentist, that fifty-five-year-old dentist, sixty-year-old dentist. It's more, we have to change our thinking a little bit and now let's start building that dental practice as not just a place that has a revolving door but is a place where I'm going to, way back the way it used to be, remember back in the day you got that associate job and you pretty much became the partner, years later, you knew it was going to happen, the medical model was always like that. The dental model has to really be that way and I think it's more that dentist that's hiring that associate has to put it out there that this is not a revolving door and you can now build your practice within my practice and we'll develop that way.
Dr. Peltz: Yeah...
Dr. Studley: Yeah.
Dr. Peltz: ...so I think that's really a piece of it and then there's the piece, memory is a very funny thing but mine at times is horrible and at other times it's very good. And I recall very well that when we got out of dental school, I had six jobs that first year, I didn't want to leave any of them. The people that were hiring me, the stuff that was going on, I couldn't find it in myself to ethically remain where I was, so I needed to leave. So I certainly agree with that piece and then there's the memory piece but I don't think anything has really changed. I think from the dawn of dentistry there have been employers who started up as job seekers and when they were job seekers they were looking for a certain thing and then when you're an employer what you're looking for is different and until two people sit down and start having a dialogue about where those two merge and how to make it grow and work, I don't think it's really going to work out well and I think that's really the main problem.
Howard: Well, when you go on to Dentaltown, and you could post an X-ray of something so obvious and twenty different dentists see it differently.
Dr. Peltz: Right.
Howard: And so, when people tell me, because you hear this story all the time that back when you and I were all in high school, all the Pharmacists owned their own pharmacy. Now they all...
Dr. Peltz: Correct.
Howard: ...work for Walgreens and CBS and everybody is saying that's going to happen to Dentistry. I don't see it that way because I can't get, I can't see how you could get half the dentists at NYU to agree that today's Friday. And the other thing I wanted to ask you, you're in New York, Manhattan. Thirty years ago, back in the day, Orthodontic Centers of America was the only DSO that made it to the New York Stock Exchange, it had a billion dollar valuation. Everybody said that by now every Orthodontist would be working for Orthodontic Centers of America and they spectacularly exploded, there was a dozen on Nasdaq and then they were gone and now they're back and a lot of people are saying that these Millennials are different than you and I. They don't want their own practice, they don't want the responsibility, they're all going to be employees. But then if they were so happy being employees, why are they changing jobs every year?
Dr. Peltz: (unclear 11:07).
Howard: Why can't they stay anywhere for two years, if they're so happy being employees?. So what do you think?. How big of the pie do you think corporate is going to be?. Of these millennials that you've been teaching at NYU for three decades, how many of them do you think have the personality to go take orders all day at work and be fine from age twenty-five to sixty-five working for somebody else?.
Dr. Peltz: (unclear 11:29) I'm going to jump in here.
Dr. Studley: (unclear 11:30) go ahead.
Dr. Peltz: Very few because most people go into Dentistry because they want to be leaders, they are leaders, we have, all of our students have leader type of personalities. So I think those DSO's provide a lot of services for new graduates and in that same respect for employers and they also serve a purpose, and they're also being very smart about it. Because one thing that they're doing and this goes back to that same employer, job seeker relationship that we were talking about, is they are providing mentorship and that's how we know that our students, our graduates, they don't want to jump from practice to practice, they are dying for mentors, the biggest word on their lips is mentor...
Dr. Studley: Right (unclear 12:19).
Dr. Peltz: ...when you ask what they want when they get out, they want a mentor. How many of us are willing to play that role?. That's a big role to play for somebody and I think we're not seeing enough of that and it, as I said earlier, it's not new, it's just the evolution of a dentist, is that the needs are not the same. A new dentist needs a mentor, a dentist exiting a career, doesn't want to be a mentor, they're thinking about themselves at that point, they have their own needs and desires, they wanted someone who's going to take over, take charge, start making them money and turn into exactly the dentist that they were, which is another problems, is that bit of magical thinking that dentists who own practices have, which is to say I'm going to find someone exactly like me. There is nobody exactly like you.
Howard: Yeah and so many, it seems so many areas of Dentistry have gone the wrong way for the thirty years. My dental office is three miles up the street from my house and we just celebrated our thirty year anniversary and it's like thirty years ago, it seems like, the fillings were Amalgam and they lasted twenty-five, thirty years. Now there are inert plastic composites elastics, there were gold crowns that were soft and beautiful and nice, now there are these, gosh darn zirconium that are so brutal. But back in the day, when you would go buy a practice, the owner would carry and since the owner would sell you that practice and carry it for seven years at 10% interest, that seller had skin in the game. So he would stay and mentor and when he was a Safeway and someone said, what about that new kid that you sold your practice to? He's incentivized to say yeah, he's a great kid and then when that kid had a really upset patient, he could call the guy that sold it and he'd go, let me talk to Mary, she's been a patient of mine for thirty years and now that's all been disassembled. Now you got the big banks, they go in there, they finance the thing, the seller dentist gets all of his money and then retires to Florida. They're gone, the mentorship's gone. I mean a lot of things are changing but in what you're talking about, does Doccupations take that into consideration, I mean when a student, when you were saying the first thing they're asking for is a mentor, is that on the Doccupation application? or...
Dr. Studley: (unclear 14: 36).
Howard: ...talk about Doccupations.
Dr. Studley: Right, so the idea with Doccupations, so when somebody is looking and it really also started, because the nature of that Millennial is also not staying, back in the day you graduated from NYU, you stayed in New York, maybe you went as far as Brooklyn, if your parents let you. But you stayed within a certain zone, kind of thing, you really did. I always said I had a restrictive covenant for my mother, so I stayed within a certain area. Also, the license didn't give us as many states, now the licensure gives you so many more states. And in my lectures to these students, you have to follow the opportunity, if you are not stuck (unclear 15:21), you have to stay in Queens, you have to stay in Florida. If you can go if you are single or you're with a partner that is willing to go because they say it's, and these are in a lot of our blogs and articles. It's a family decision where you start and end up and it really makes a difference.
So you could kind of follow, the same way when I have a Pedodontist who was looking to open in the area or a new dentist, I always say follow the baby carriages. Because you know that's where you're going to be able to go into a good location that's going to grow. This generation is willing to pick up and travel and that's why that initial mentorship because they do know when they work for a lot of these DSO's and Ivy and I attend, I also insure a lot of the DSO's. So I attend a lot of their recruiting events and I listen to how they are recruiting and what they're putting out there and they're salespeople like everybody else, but one of the things that is out there, is that these DSO's will give them a mentor doctor, the ones that are highly successful that are actually doing good things for their community because there are groups that are. Those students that we graduate get another year or two under somebody and some of them like it so much that they stay on. Ivy and I have graduates that have worked for now Heartland, Aspen, they've been there five-plus years...
Dr. Peltz: They're managing partners.
Dr. Studley: ...managing partners...
Dr. Peltz: (unclear 16:52).
Dr. Studley: ...making a very nice six plus figure with equity and they could not be happier. They have families, children, they built a very nice life. I have tons of other clients who, they didn't do a residency but they said, you know what? This year or two with that DSO, that's going to be my residency because they all...
Dr. Peltz: (unclear 17:1).
Dr. Studley: ...have that somebody that's still going to monitor their work. I get phone call's from them, Howard, that they get upset because on some of the contracts, when they show up late they take away 10% of their income and I said I wish I could take away 10% of your grades, when you showed up late to clinic.
Howard: If you're listening to this on iTunes and want to see what they look like, I just saw their twitter is @doccupations.com and I just forwarded their tweet to my twenty-two thousand homies. Thanks so much for following me @howardferran and you two look like you're freezing to death in front of some lighthouse.
Dr. Studley: Oh yes.
Dr. Peltz: Oh Yeah.
Dr. Studley: That was on New Year's Eve, we drove up to Montauk Point below zero. That's how dedicated we are.
Howard: Is that a lighthouse?
Dr. Studley: Yeah.
Howard: Oh wow, yeah that's a technology that's come and gone. Those are so neat. So I'm going to hold your feet to the fire specifics. How does Doccupations work? What does it cost my homies to join? Obviously, you're not doing this with a bunch of volunteers chained up in the basement. How does it work?
Dr. Studley: We have them chained up on the first floor.
Dr. Peltz: (unclear 18.22).
Dr. Studley: (unclear 18:24).
Howard: I (unclear 18:25).
Dr. Peltz: So we work with an algorithm, it's an online algorithmic dental job-matching company, so if you're an employer, you join as an employer and the membership fee you asked, if you wanted to post, let's say one job per month, then it would be $99 for the one job.
Howard. $99 a month or $99 for the one ad?
Dr. Peltz: For the one job...
Dr. Studley: For the one.
Dr. Peltz: ...the one month of having your job listed.
Howard: So it's...
Dr. Peltz: Yes.
Howard: so if you're a solo practicing dentist listening to this and you're looking.
Dr. Petlz: Yes.
Howard: ...for an associate, you place an...
Dr. Peltz: Right.
Howard: ...ad for your associate, it's $99 a month.
Dr. Peltz: Yes.
Dr. Studley: Right and it runs to the thirty days and it's also not just an associate, it's hygiene, front desk, dental assistant, billing coders.
Dr. Peltz: Right; so you fill out your profile and you're filling out some metrics and then on the other end the job seeker is doing the same thing and when you submit your profile, you automatically, it will match with people who have the same needs that you do. So it's based on demographics and location and certain other proprietary things that we cant (unclear 19:40).
Howard: And demographics, I imagine would be the number one thing. There's a very neat TED talk about a dating site, she's a Ph.D. from London, it was OkCupid. She was trying to do her Ph.D., you talk about algorithm which is a process for a set of rules to be followed in calculations or other problem-solving operations, especially by computer and she was, when they're getting their Ph.D. in Mathematics, they like to get a bunch of chaotic data like stock prices or weather or whatever and she thought, I'm going to get dating matches and Match and a bunch of the big ones gave them all their data, which I'm sure they seriously regret that and she did this algorithm about what is the most likely thing for you to get a date and geography just trumped everything.
Dr. Studley: Right.
Dr. Peltz: Right.
Howard: Most people would rather go out with a girl ten blocks down the street, they're not going to drive an hour on a date, that's how lazy we are.
Dr. Peltz: Right.
Howard: So I imagine your geography is the biggest variable right?
Dr. Studley: Yes.
Dr. Peltz: Yes it is, it is absolutely.
Dr. Studley: And that's for everything. Because I'll get calls from people and they'll say, well I got this great job but I have to drive an hour and a half each way and I remember my first job, I had to take the train and I thought, oh that will be so good and I also had to wear a shirt and tie and I thought that would be so good. That lasted about a week and a half. I hated taking the train and I hated wearing a shirt and tie. That's why after eleven months I bought my own practice because I never had to wear a tie again.
Howard: And it's a bad business deal because, for thirty years, I live three point zero miles from my office and for thirty years when someone called, on my business card it always had my home phone number and my cell phone number and my email and when someone had an emergency, and my office is right next to the grocery store anyway and of my four boys one, two, three or four would always want to go with me, which is no big deal, but I imagine if all those emergencies involved an hour commute each way, I would have just, I just wouldn't...
Dr. Studley: (unclear 21:42).
Howard: ...have been there for them.
Dr. Studley: It gets rough, even when I moved my insurance office, I actually had the staff pick the location because they spend more time there than I do, so it has to be more convenient for them to get home and the traffic, everything like that and because of that, we've had 100% retention for over fifteen years of the entire staff.
Howard: So (unclear 22:05).
Dr. Studley: So demographics is a major.
Howard: Yeah. So when I find an associate that sticks around for two, three, four or five years somewhere, every single time I say, well what made you stay and they'll say, well I was staying with this doc and he was teaching me how to place implants and I wanted to stay there until I really had mastered implants to the level he had done. And then these older doctors, they get these associates (unclear 22:32) that they completely screw it up. They'll say, well I'm going to do all those big cases and I have this hygienist here and then you're a glorified hygienist, you'll just do all the fillings in single units and I'm doing all these big cases and that's why they leave. And if that doctor was mentoring them with these bigger cases, that they would say and of all the DSO's I know, you're probably more politically correct than I am. I mean I had to name my podcast, Dentistry Uncensored but it seems to me the number one place they like working for is Heartland and their dentists seem to say, their average dentist seems to stay about twice as long as the others for that exact reason. I said well why are you staying (unclear 23:08). Oh, my God I have access to so much continued education and I'm going through this Invisalign program and this implant program and I'm going to stay here until I learn, all their opportunities of learning which is mentorship and, so that should be in a Doccupations ad, if you're sitting there putting an ad in for a deal, you should sit there and say, come to me, you're not going to work with just the single fillings and single crowns, I'm going to mentor you with.
Dr. Peltz: Yes.
Howard: (unclear 23:37) and a lot of them want mentorship in business and that's another thing I always tell them, that they're griping that they're working for corporate. I'm like dude, there's not even thirty dentists on earth that own more than 50 offices. I mean you're working. If you working at Heartland, Rick Workman owns eight hundred dental offices. Are you telling me that you can't learn business working at Heartland?
Dr. Studley: Right.
Howard: Just start stealing all their forms and letters and systems and data and learn. Most dentists can't manage their own practice, Workman can manage eight hundred. That's a huge gap. I bet you could learn so much practice (unclear 24:15). Aspen is one of my favorites because it's targeted, they're going where all the older fee for service docs aren't. They're going into poor areas, Medicaid, dentures, they specifically target these areas. I'm a big fan of data from Pew Trust. You can go to Pew Trust, go to every single state and they will show you where all the underserved counties are. Like you go to Arizona on the way to California, we stop at Blythe. Blythe doesn't even have a dentist and in Kansas, Nebraska, Iowa, North and South Dakota about 13% of the towns don't even have a dentist and...
Dr. Studley: Right.
Howard: ...a lot of these DSO's, a real estate agent will say location, location, location. Aspen, some of these DSO's are like location, location, location, you need to go where they ain't.
Dr. Peltz: Right.
Dr. Studley: I actually tell a lot of the students it's almost like opening up (unclear 25:11) why does another restaurant open up next to the other restaurant that has a line out the door because then all of a sudden they start getting it. So, a couple of years ago New York State, upstate New York, nobody wanted to run there, nobody. Now, look at all the DSO's that opened up there and the amount of clients that I now have practicing up there in those areas, that nobody wanted to run and they financially are doing well. And you also talked about the demographics, also about the cost of living, raising the family, like that dollar goes so much further than it would if you opened up in Manhattan.
Howard: I think it's also hilarious when they'll tell me, they go well I don't want to move an hour, because Phoenix has two dental schools, it has A.T. Still in Mesa and Midwestern in Glendale and about the dumbest idea you could have is to come out of those two dental schools and practice across the street and then also they're going to say, Blythe doesn't have a dentist, Eloy doesn't have a dentist and they go, I really don't want to move an hour away from Phoenix. I'm like dude, your mom moved from India, she moved fifteen thousand miles for a better opportunity and now her children won't go sixty miles down Interstate ten? I mean, god!
Dr. Studley: (unclear 16:24) I think four boats, six years (unclear 26:30) and then changing their name when they got here. So, no I know that's a very big difference and also driving an hour in Arizona is a big difference, driving an hour in New York.
Dr. Peltz: Wow.
Dr. Studley: It really is, it's.
Dr. Peltz: Driving an hour, yeah its true. Well, it depends what you mean by the hour. If you're talking about an hour in traffic...
Dr. Studley: Right.
Dr. Peltz: ...that's fine but if it shouldn't be an hour and it becomes three...
Dr. Studley: Right.
Dr: Peltz: ...that's a totally different situation.
Dr. Studley: Right (unclear 26:55).
Dr. Peltz: (unclear 26.56).
Howard: So is Doccupations a success or is this a win for you guys?
Dr. Peltz: Well, we've just started Howard, we've just opened our doors to employers in August of this year. We've been building our job seeker database but...
Dr. Studley: Right, because when we opened...
Dr. Peltz: ...we just opened.
Dr. Studley: ...we wanted to have what to offer...
Dr. Peltz: Right.
Dr. Studley: ...right off the bat.
Dr. Peltz: Right, so the day that we opened, we matched...
Dr. Studley: So...
Dr. Peltz: ...the day that we opened to job seekers and the next day we had an accepted match that we know they're still working together. So we would call that definitely a success.
Dr. Studley: Right.
Dr. Peltz: Because these are two people who were both within our circle and previously what was happening was everyone was calling Eric and he was kind of serving as a matchmaker. He was like (unclear 27.45).
Howard: That's my favorite song from,...
Dr. Peltz: (unclear 27:47).
Howard: ...what is that (unclear 27:48).
Dr. Peltz: (unclear 27:49) have a name.
Howard: Matchmaker matchmaker, what the? Fiddler On The Roof.
Dr. Studley: Right, from (unclear 27:54).
Dr. Peltz: (unclear 27:54)
Howard: I don't like to tell people my... (unclear 27:55).
Dr. Peltz: (unclear 27:55) that's the Matchmaker.
Howard: I don't like telling people my favorite movies because they don't realize I grew with five sisters but my favorite movies are like Fiddler On The Roof, The Sound of Music, I love all these musicals because if I was a little boy and say, well can we watch the Dallas Cowboys game, then we'd do democracy, which is why I hate democracy because I saw how it didn't work, my entire childhood. Five girls would want to watch the Oklahoma and I'd wanna watch the Raiders and, but yeah that song.
Dr. Studley: (unclear 28:23).
Howard: Matchmaker Matchmaker.
Dr. Studley: (unclear 28:23) there...
Howard: What's that?
Dr. Studley: South Pacific, that was another good one.
Dr. Peltz: Yeah.
Howard: Yeah. I don't want to, if you want to talk more about Doccupation that's fine but I want to talk to another thing. You sell insurance and we all know that when you're twenty-five, you're never going to die, you're never gonna catch a STD, you're never going to break your leg. I mean they're just risk-free and sitting at my end at thirty years, I saw so many kids that got married, had a couple kids then got t-boned at an intersection, no disability or hurricanes, tornadoes. Remember three years ago when Joplin, Missouri had tornadoes go through there and it was horrible because not only did the dentist lose his dental office, he lost his damn house too and now we're seeing the same thing in those fires in the vineyards of Northern California, where their house...
Dr. Stuldy: (unclear 29:15)
Howard: ...and their dental office burned down.
Dr. Studley: New Jersey.
Dr. Peltz: Yeah.
Dr. Studley: (unclear 29:18) happened before.
Dr. Peltz: It happened with Sandy.
Dr. Studley: Right.
Dr. Peltz: The same thing.
Howard: How do you tell a twenty-five-year-old that someday they're actually going to die and that they could be one of the forty thousand Americans that get killed in a car wreck times ten injured. Thirty thousand die from accidents times ten injured. They really don't have an appreciation for risk, which is why you also see them investing in idiotic things like Bitcoin. When they asked me, what do you think of Bitcoin?. I'm like, well why don't you just invest in tulip bulbs, at least you'd have a damn plant to plant in your backyard. But how do you do you teach a kid risk?.
Dr. Studley: Well I think, for me it comes across a little different, I was a practicing dentist. I bought my first practice eleven months out of school, I worked for about five, six people within eleven months. I sucked in as much continued education as I could working for these guys, it was just when we were starting computers in the dental office, electronic billing. So, you talk about what you could learn. So I learned as I could and eleven months out I opened an office in Brooklyn and within six months, I was seeing a hundred new patients a month in 1986. Eight years into the practicing, I started developing hand problems, within that year I ended up having to have bilateral carpal tunnel surgery. I then had Median Nerve surgery, Ulnar Nerve surgery. I've had my hip replaced, I've had my shoulder replaced.
Dr. Peltz: This is the organ recital.
Dr. Studley: Right, this is me, all of sixty years old but prior to all this, I was a light middleweight boxing champion. I went to medical and dental school in Guadalajara, Mexico for two years. I ran three marathons, worked out every day. So I was that guy that, well nothing can happen to me but fortunately, I bought disability insurance and life insurance when I graduated. Unfortunately, I bought it from the wrong person. So I had this huge own occupation type policy that would cover me, so I could teach, I can go into another profession, I can do all these things. So, unfortunately, I have to go out on disability after ten years of practicing. I put in my claim, I get paid for the first year ten thousand a month tax-free, own occupation. I'm going to go back to school to become a Psychologist because I was seeing so many at that point, I figured I might as well (unclear 31:49). So I get paid that ten thousand a month, a year in I get a letter from the insurance company. It says, Dear Dr. Studley, After careful review and I always tell my clients, my students, if you ever get a letter that starts with Dear doctor, After careful review, sit down because you're not paying back your student loans and it said that they were going to rescind my monthly benefit. First of all I had to look up what rescind means and then when I finally realized what it meant, it wasn't a good word. So I had to start a lawsuit, seven-year lawsuit that I had to sue the insurance company, that I had to sue the insurance broker. It cost me three hundred and seventy-five thousand dollars out of my own pocket and after seven years I settled but that compelled me to go into the insurance industry. I went back to school, got licensed, worked for three different companies, left three different companies because of their ethics and then started Studley and Associates. So when I'm out there talking about this insurance kind of stuff and everybody says it can't happen to them, I always ask them, give me that crystal ball because then we could take your money and do it to somewhere else. But Howard, I can't tell you the phone calls I get (unclear 33:06) the people that I can't insure, who now don't care how much it costs because now they can't get it and so, we have to try to get that word out that we are not infallible. When we talk in our business classes and I'm sure you talk about this in your MBA program, that our biggest commodity is us. That dental license is worth a gazillion dollars, or a gazillion plus now I think and you've got to insure it.
Dr. Peltz: You insure your car.
Dr. Studley: Right, you see them, they all run out and buy BMW's as soon as they graduate and you can't leave with the car (unclear 33:43).
Howard: Now you sell, the one thing I've noticed, in thirty years, is a lot of these implant companies and dental malpractice and dental disability, they come and go and these young kids don't realize there's a reason this implant is so cheap and you have to use an implant system that, when you go to court has research and they're going to be and they've been around for a decade and they have literature and they have R&D and Guardian is owned by Berkshire Hathaway, right?
Dr. Studley: Right.
Howard: Yeah and that's just huge, I went to Creighton in Omaha and back then Warren Buffett came and talked to our business class. I got ten extra credit points. It's an embarrassing story, it shows how stupid I am. We got ten points to go listen to him and so I was, it was 1980.
Dr. Studley: (unclear 34:34) Guardian is not owned by Berkshire Hathaway.
Howard: Oh Guardian.
Dr. Studley: (unclear 34:38).
Howard: Is not?
Dr. Studley: No, Berkshire is the disability division of Guardian but it's not Berkshire Hathaway, it's Berkshire Life Insurance...
Dr. Studley: ...Company of America.
Howard: ...okay, I saw Berkshire.
Dr. Studley: Yeah.
Dr. Studley: Right.
Howard: So then I'm going to go to you.
Dr. Peltz: Sorry.
Howard: What do you think the chance.
Dr. Studley: But they are still...
Howard: What do you think...
Dr. Studley: a hundred...
Howard: ...the chance is Guardian will be there, thirty years from now?.
Dr. Studley: So it's so good that you talk about this because, why there certain, why in any company, so when you talk disability malpractice any of those companies. First of all, you always want to make sure any company that I work with always has what we call a reinsurer. So number one if that company goes there's another company that's insuring that company.
Number two as an insurance person like a dentist you have malpractice, we have what we call E&O, my errors and omissions will only cover me for representing a top type rated company so that I am bound to only show you the best.
Third, when I represent a company because I'm a broker, so I choose who I want to work with. I look at financials first, I look at claims paying first and then I say, okay I'll represent you. I don't go by representing a company because they'll pay me a higher commission. Because I can command any commission. I'd rather work with a company that pays and you know what, the good thing is twenty-five plus years in the disability division and I've never had a claim denied. I paid one dentist (unclear 36:09) forty-five thousand a month in benefits. That's huge and that was without a hiccup.
Howard: So what all do you sell?. Do you sell disability, life?.
Dr. Studley: Disability, life, health, retirement planning...
Howard: Wait say it again. Disability, life, health.
Dr. Studley: ...life, health, retirement planning, we do sole property and casualty. So we also insure the office, we do the workman's comp.
Howard: What is health?.
Dr Studley: safety.
Howard: That's not medical insurance, is it?.
Dr. Studley: Yeah, we do health insurance for the offices.
Howard: So you do health insurance for a dentist and all their employees?.
Dr. Studley: Yeah.
Howard: Wow that's a, and you can do that in all fifty states?.
Dr. Studley: Yeah.
Howard: And so let's go one by one by one. Disability. What are...
Dr. Studley: Yeah.
Howard: ...the top three mistakes that these kids are doing, that they need to think about.
Dr. Studley: Number one, not getting it early enough. So they should get it when they're first graduating dental school and in residency because there are discounts for them. Also, the underwriting is a lot better for them because they're healthier. A lot of them, especially when you talked about the Millennials, they're very doctor friendly, they love to run to the doctors (unclear 37:25) health center, for all these different ailments. So now you apply for disability insurance, your medical history is up front (unclear 37:33) they went for that little backache, when they took that tough (unclear 37:38) that day. Well now, they have a record that they have a back problem. So they need to get their disability insurance when they're healthy, not call me when something has already happened.
Number two, they need to be upfront about their medical history because if they are not upfront about their medical history and now at time of claim, the insurance company finds that they weren't as upfront about a medical ailment, they could not pay the claim. How do you get away from that? I only work with disability companies that will do a full medical at time of application. So all medical underwriting is done at time of application, not at time of claim. Companies that will underwrite you at time of claim are more likely to obviously not approve the claim.
And third, is also they should do their homework about the agent or broker that they're working with and we are very easy to be looked up, we have ratings, they could find out about us because like you said, you want to make sure that that person that (unclear 38:51) five years ago is going to be with me fifty years ago. And those are the three of one of the most important things when you talk about disability insurance.
Howard: Yeah and that fraud thing, a lot of these Millennials don't realize that we have a nineteen trillion dollar economy in a seventy-two trillion dollar global economy but within the United States, of our seventeen trillion dollar economy, one trillion of it is from one million attorneys. They are one out of every seventeen dollars and I just keep seeing case after case where something goes horribly wrong on a dental office case. It goes to court and then the doc, his best idea is to alter the records and there's a case, where some of these cases when it turns out in a civil case that they found out that you altered the records they, while the civil case is going on, they turn over to the attorney general and now this dentist is in a criminal case in the state of Arizona, while he's in a civil case and it's like dude, it's like the lie is worse than the crime.
I mean if Clinton. I remember when Clinton got busted with Monica if he just would've come out and said hey, how would you like to be married to Hillary? Everybody said, oh wow, yeah they'd just walk away. But he lied. The lie...
Dr. Studley. (unclear 40:07).
Howard: ...was a thousand times worse than what he did and you young kids, there's one case going on, I don't want to mention any names but the child died and he altered the record. So he had this big civil case but then the feds came and it was go to jail because you changed the records. So, if shit happens don't make it worse...
Dr. Peltz: Yeah.
Howard: ...by lying about your health history, don't ever change a chart. You're just going to dig yourself in a hole.
Dr. Peltz: Well, when something bad happens and bad things do happen, the first thing you have to do is just stop yourself from doing anything. Sit down, take a breath and try to start to think rationally and the next thing you have to do is call somebody that you trust, to talk it through because otherwise, your mind is going to go to places that it shouldn't go. So I'm sure there aren't that many people who have friends that, if in a situation like that they called up their friend and they said, this is what happened. I think I'm gonna like, take a pen and take the chart and scrape off the ink and write a new...
Dr. Studley: (unclear 41:18).
Dr. Peltz: ...entry. I think we could find a friend around who would say, oh that sounds like a good idea. Those things happened because somebody's in a state of panic...
Dr. Peltz: (unclear 41:26).
Howard: ...I'll give you a couple more examples. I'll go with drugs and I'll go with, sometimes the feds will go into a dental office because he's been writing, he's been eating Vicodin and the dentist said (unclear 41:40), oh my God they just throw the bricks at him and they usually end up losing their license, going to jail all, but when they walk in, if you just raised your hand and said dude, I can't help it, I can't quit eating these things. It's a big hug, they put him in a diversion, they keep their license, they put him on a pee test and...
Dr. Studley: (41:58).
Howard: ...if you lied to the DEA, you're going down.
Dr. Studley: But wait, Howard...
Dr. Peltz: (unclear 42:02).
Dr. Studley: ...isn't this what we taught our kids? Isn't this the mom thing like...
Dr. Peltz: Don't lie.
Dr. Studley: ...tell me the truth, don't lie. Ivy and I were actually talking about this to a student or somebody. Remember the Jetsons and remember Kazoo, he sat on (unclear 42:19) shoulder. Just having this discussion with someone, because also, we're lifelong mentors, you are, I am, Ivy. So we are kind of like a hotline for a lot of young dentists out there or dentists out there, where they'll send us something and say, tell me the truth. What did I do? and it's not necessarily what you did. Okay, this is what you did, it's what you do next that's going to count…
Dr. Peltz: Right.
Dr. Studley: ...and how you're going to handle that. So like in anything, that becomes the bigger lesson but I'm getting big on having the Kazoo on the shoulder routine.
Dr. Peltz: We need...
Dr. Studley: ...because we all need a Kazoo.
Dr. Peltz: (unclear 43:01).
Howard: And yeah and I just want to just say one more thing about, because dentists, physicians, and lawyers, they know it all and they think they can just out chess game anybody. I got called into jury duty and by God, I had to stay, I had to sit through a three-week trial and just a heads up. These idiots would say things and then they would play back their cell phone conversations from years ago. They would say things and then they would show their text message. Really, you've never met Ivy Peltz, really? Well, you called her nineteen times and here's a voice of (unclear 43:38)...
Dr. Studley: Who (unclear 43:39),
Dr. Studley: Who called her?
Howard: I couldn't believe and what the newest, latest thing is that the prosecutors are using, Google searches. So you never, say it's over your health insurance. So you never had liver problems? How come ten years ago, you Google searched a hundred times symptoms for liver disease (unclear 44:03). So and I just saw one incredible study where they analyzed the Facebook post versus the Google searches of a huge portion of population and on Facebook, they're posting, oh we're happily married and we're celebrate our twelfth anniversary and their Google search is divorce attorney. (unclear 42:21) . So they call Google searches truth serum and Facebook is just your self-marketing department.
Dr. Studley: Right.
Dr. Peltz: Right.
Howard: So you post your best stuff on...
Dr. Peltz: Right.
Howard:...Facebook and then your darkest secrets are your Google searches, which will be held against you in the court of law. So life insurance, I'm going to switch from disability to life. A Millennial, come on she's twenty-five, she's going to live forever. Why the hell should she have life insurance? What are the top three mistakes in life insurance? And is it fair to say that you obviously don't need life insurance unless you make a baby?
Dr. Studley: Isn't that the old saying, that was the old Gerber thing, that probably half of our listeners have no clue about Gerber, other than a baby food kind of thing and then they don't even use Gerber for the baby food because they make their own baby food. So the whole thing of life insurance, life insurance is not just for life anymore. Now all these Millennials you talk about, they're going to be buying a practice, they're going to be working with one of the big lenders out there. Those lenders, they require as collateral assignment, life insurance, they require as collateral assignment, disability insurance, which is great. So now you buy a practice for $500,000, you don't have to go to your parents and say, can you co-sign for my loan, put up your house and if I default on the loan the bank's going to take your house but you could at least still live with me, mom and dad. So now that young person, that twenty-five-year-old can take out a ridiculously inexpensive term type of life insurance policy to cover the loan. So simply for that reason alone.
Also if you're smart when you buy that term policy, you buy a term policy that later on you can convert to something of more permanency, even if you're not healthy. So one of the things that I try to do with all the clients, when I am preparing all their initial stuff at the beginning of their career, it's my job to think twenty years down the line. They're thinking tomorrow. They're already texting, what are they doing tonight but I got to think about when they're ten years later, twenty years later, fifty years later, when maybe they're selling their practice. So that life insurance then is used for those kinds of things. So it also then, as a young person you just lock in your insurability. But it's also used, you have a baby, it's a great way to save for a child. Then when that child turns eighteen years old, they have a ridiculous amount of cash value that you could never have given them for that amount of money.
Dr. Studley: So...
Howard: ...if you spend...
Dr. Studley: (unclear 47:08).
Howard:...fifteen minutes at Geico, you can save 15% on your insurance. When they start talking about babies, I'll say, spend fifteen minutes and save yourself about a $500,000. There's a quarter million dentists on Dentaltown, we have fifty categories. Root canals, fillings, crowns, one of them's disability insurance. Sixty thousand of those dentists that download the app and I just went into disability insurance. I'm just going to read you just the questions posted, it'd really be a huge favor to me and good business for you if you'd go in there just answer these questions. I'll just, the top ten questions posted today (unclear 47:46). Can you get short term disability for maternity leave? Need disability agent recommendation, Orange County. Need disability recommendation in Southern California. Any suggestions on disability insurance companies. Is it worth it to increase my elimination period? I don't even know what that means. Can you get disability during your residency with exclusions? Should dental students have disability insurance? I'm seeking advice on my expensive disability insurance.
Dr. Studley: (unclear 48:16).
Howard: What is an occupation writer? But anyway, I really, I think great marketing for Doccupations. You just go under insurance and then there's medical and there's disability and there's malpractice. But I wish you'd just spend a day.
Dr. Studley: Yeah, I'll go in and answer everybody's questions. They also should know that I'm licensed in the entire country. So I handle Orange County in every which way, even Alaska. So I will go into your site, I'll answer everybody's questions and we really appreciate that.
Howard: I think Alaska's...
Dr. Peltz: (unclear 48:54).
Howard: ...the coolest thing. You want to now one of the most bizarre thing about dental offices in Alaska. Something that you would never ever see in the lower forty-eight. Where the patients park they have electrical outposts to plug into your car to keep the motor heated because it's that damn cold and they don't have locks on the front door. And the first time I saw it, I said, why don't you have a lock? and he goes because I'm not worried about theft. I'm worried about someone getting caught out in the cold and dying...
Dr. Studley: (unclear 49:20).
Howard: ...and they say about every two or three months, they'll come to work in the morning and someone's passed out on their couch in the waiting room...
Dr. Peltz: Wow.
Howard:...and got stranded. Is it worth it to increase my elimination period?. What does that even mean? .Do you know what that means?.
Dr. Studley: Yes. An elimination period, so in any disability policy you could say I want to start getting paid in thirty days, sixty days, ninety days, you could even do a hundred and eighty days or one year but then that means you won't get your first check for that period of time. On average you'll do a ninety day waiting period. So that means on day ninety-one, you get paid but you're not paid retroactive for the first three months. But the longer the elimination period the lower the premium. So I always try to get my clients to have the longest waiting period and self-insure. So the goal really is to try to have three months of lawyer bills ready to be paid if God forbid something happens and then you can keep your premiums lower. A lot of times that younger dentist can't do that, so they need a shorter waiting period. Even when you open the practice, so you have disability on the practice. Well if you became disabled in the first year or two years, are you going to be able to pay off that six hundred thousand dollars, probably not. So you're going to want a shorter waiting period but two, three years into your practicing. Now you have the money in the bank, you want to increase your elimination period, lowers your premium and it saves you money. That's the way it should be done.
Howard: The funniest thing about Dentaltown, I love the most is their names. This guy is, his name is flouridefreebacon. He says, do you recommend that I should buy two disability policies from two different companies to insure in case one company goes under.
Dr. Studley: Well, you shouldn't buy any disability from any disability company that you're worried about them going under. So that's the first thing. The second thing is and that's a big thing that people do, they feel at certain risk. So I have clients, dentists that make over a million dollars. So because you can only get a certain amount for a company, I have them in multiple companies but all the companies do not work together. So if you spread your disability and especially as a young dentist and you spread out between two different companies, you now at time of claim have two different claims. So just because one company pays, doesn't mean the other and I have been involved with that, not with policies that I have sold but I'm pulled in as a consultant. Where one company paid and the other company didn't. So if you're going to do that and I do that with a number of my clients, that it has to be for the right reasons, not simply because you worried about a company going under.
Howard: This is so sad, I mean this guy, his name is jackeduponpeet's, pe...
Dr. Studley: Right.
Howard: ...et's. What’s a peet's?
Dr. Peltz: Coffee.
Dr. Studley: Coffee.
Dr. Studley: Peet's Coffee.
Howard: It's coffee.
Dr. Peltz. Coffee.
Howard: His name's jackeduponpeet's and this is so sad, he's saying his disability rep is telling him to withhold medical information. What should he do?
Dr. Studley: Oh my God.
Howard: (unclear 52:35).
Dr. Studley: (unclear 52:36) change agents immediately. I will walk away from a client that asks me to do that. But even next step, I won't take any medical information, I use a bonded service that does all of that. So that I am taken out of the loop. In any of the fraud cases that go on a lot of times, it's collusion with the agent. I take the agent portion out of that, so that at time of claim because I'm interviewed when a client of mine goes on claim and it's so seamless because I ask none of those medical things, we use a service. Never ever ever commit fraud. I was doing a presentation at the Greater New York a couple of weeks ago and this dentist stood up and he was like, oh Dr. Studley you are this big shot insurance guy, he goes, do you have a policy for me when I commit Medicaid fraud. Now, that first of all was a scary question because he didn't say, if, he said when. And then I said to him, well, I started thinking and I said yes there is a policy, it's called honesty, it's the best policy...
Howard: (unclear 53:48).
Dr. Studley: ...and you know why, if you just continue with that, it works.
Howard: I want to stay on this fraud thing because a lot of dentists get mad at me when I post a case of a dentist doing something immoral or whatever. The biggest backlash I had. There was a dentist in Canada who got busted with a hidden camera in his staff's bathroom and he was filming his staff. And I said well, first of all, I personally think about one out of hundred humans are sociopath, crazy, batshit, insane. And I said by posting that, if there's two hundred and eleven thousand living humans in America that have a active dental license, this guy ain't the only one. The only guy doing it didn't live in Canada and my hope is that maybe you know the other twenty living in America will realize this is a bad thing if it gets caught, it ruined his practice.
But back to fraud. You millennials don't understand that when you do Medicaid fraud you're dealing with the government, the attorney general, when you do Medicare fraud you're dealing with the feds. You go to jail when you lie, cheat and sell Medicaid (unclear 54:59). Let me give a couple of examples of some things I see routinely. So Ivy comes in and she needs a crown, I say her insurance will pay half and she says, well just bill for two crowns. They'll pay half of two crowns and then I don't have to give you any money and (unclear 55:17) deal. Okay, so let's talk about just that, I want to go through this crime. And you're talking about algorithms, you opened up with. There's an Israeli company, insurance algorithm company that they're all using that'll come in and sit there and say okay, Delta 96% of all your crowns come in single unit, this Howard guy, 30% of his crowns are coming in for two units. That's a flag. Go pull his charts and I can name you two dentists in Arizona serving five-year terms in jail right now in Arizona for doing that stupid crime. But I want to go through that, a little more in detail. You do that with Medicaid, you're dealing with your state attorney general. You do that with Medicare, which usually doesn't cover dentistry, you're dealing with the feds. If I send that fraudulent claim to Delta Dental of Arizona, it's a civil crime, if it passes the state line and goes to Delta Dental of California, they set up all those laws to get Al Capone. That's mail fraud and each claim is a felony and five years in jail and these guys aren't going to jail for mailing a claim to the dental insurance company in their state. It's when that claim crosses the state line, now you're in the same path as Al Capone. So, here's another question. What is an umbrella policy and is it really necessary if I have disability insurance?
Dr. Studley: Okay, an umbrella policy and that's kind of why it's termed umbrella because it covers outside of certain things. The umbrella policy is tied into your homeowners, your car insurance and this also leads me to tell everybody not to have DDS or DMV plates on their cars. There's just no reason for that. It doesn't let us park anywhere, it just tells people hit me, I'm a dentist, I have insurance. So I always recommend not to have those kinds of official tags. The umbrella policy will cover you, it has nothing to do with your disability insurance. So your disability insurance will cover you if you, the individual become disabled. An umbrella policy will cover you if, let's say there's a certain civil type of case or certain type of liability above and beyond the limits that you have in your car insurance, then your umbrella policy would kick in and help pay that liability. And umbrella policies are based on, number one your net value, your net worth and I would venture to say, that if every business owner is working with an insurance agent, they should make sure that they have this. Because you can get an additional two hundred and fifty thousand, five hundred thousand but it gives you an additional, outside of your malpractice. So something that your malpractice would not cover, your umbrella policy may be able to cover.
Howard: Okay, this is Dentistry Uncensored, so this one might hurt you a little bit. This guy asks, which would you pick for disability. Northwestern, Guardian Berkshire or the ADA?.
Dr. Studler: Okay, so in my professional opinion I would pick Guardian. And the reason being is because of the definition of own occupation and that's what separates all...
Howard: The definition of what?
Dr. Studler: Own occupation.
Dr. Studler: So that means if God forbid as a dentist, and let's say I'm a practice owner, I become disabled or I even work for Dr. Peltz and I become disabled and I can no longer practice dentistry. But I can teach at a dental school, I can come work for Dentaltown with Howard, make more money doing something else and under my own occupation definition I am still going to get a 100% of my benefit. Guardian Berkshire is one of the only companies with those three that gives a full unobtrusive own occupation definition. With Northwestern, if you are disabled, still working in your office and an income is still coming in, they have a transitional own occupation. With the ADA's plan, if you are disabled and still own your practice and have other associates working for you there, they're not going to pay you a benefit. So there are reasons why one is less expensive than another.
Howard: Now I want to go on one rant, which is about my column this month and a lot of people complain about Dentaltown. Probably the single number one complaint on Dentaltown is that a lot of these people are anonymous. In fact, the majority are anonymous and that was a business decision I made twenty years ago and I made it with actually, Rella Krishan. I asked her, I called Rella and she agreed with me that there has to be a place for dentists to ask a stupid question. So like this question. This guy writes and I'm sure he wouldn't write this on Facebook if you knew exactly what his name was. He says is HIV covered on disability and now if I went on my Facebook page and said, is HIV covered on disability. What are some of the thoughts that some of my followers...
Dr. Studley: Right.
Howard: ...might be wondering...
Dr. Studley: Right.
Howard: ...and when you perf a root canal and you want to know how to fix it, are you really going to post that on, back to Facebook and Google searches. Facebook, you're going to post the best root canal you ever did, five canals, lateral canals, puffs (unclear 1:01:02) sealer, where everybody looks at it and just says (unclear 1:01:05) but on Dentaltown, you post your damn perf. I broke a file and is HIV covered on disability. And, so that's why I do anonymous because when you register on Dentaltown, I know who you are and I have two full-time employees out of fifty, who all they do is monitor and approve all those people and we ping your email every month, you wouldn't even know we do it and if your email comes out now, disable now. Now we don't know, we're not connected to you by email, we freeze your account and then when you log back on, we say give us your working email. Because you might have canceled your aol.com or your Yahoo or Hotmail and got a Gmail. But I know who everyone is and, but I think Dentaltown is truth serum. So please tell gabangerdds, God that's. His question, is HIV covered and his name's...
Dr. Studley: (unclear 1:02:07).
Howard: ...gabanger. Gabanger, is HIV covered on disability?
Dr. Studley: Yes, it is.
Howard: And by the way, I'm just asking for a friend.
Dr. Studley: Right a friend of a friend. It is covered if you have the policy already prior to being HIV positive. So if you already have the policy and then become HIV positive, that is a covered disability.
Howard: Okay and the other lady wrote, I assume she's a lady. Is pregnancy covered as a short-term disability?
Dr. Studley: Not on long-term disability insurance, only complications of pregnancy are but not all companies are the same.
Dr. Studley: So, complications of pregnancy, some companies do pay that as a disability.
Howard: So, my last question, I can't believe we've gone over an hour. Our programme's an hour and we're already an hour and nine. I want to ask, well, first of all, is there any questions I missed on Doccupation. The reason I called and asked you guys come on. Thanks so much for coming on. The only reason this show is a success is because I'm able to get on great people like you. Is there any questions on Doccupations that I wasn't smart enough to ask?.
Dr. Peltz: Well, I think we just want to really make everybody realize that we're a new company and we are set up for success for everybody in the community and we just need everyone to join. That's what we need. So please check us out on Facebook. We have some promo codes that will give you free memberships. We would like to offer our services for free until we can pretty much be very confident that you're going to have good results.
Howard: Well, you got a quarter million dentists on Dentaltown. It blows my mind how many people in the dental industry spend all this time posting on Facebook and they have like between five hundred and five thousand followers. It's like if you're going to do that, why don't you cut and paste it and I'll just post it on Dentaltown in front of a quarter million people. But the thing on Dentaltown is we don't allow spam or anything (unclear 1:04:08) answer, you have to answer questions but your signature below the line, your signature of your post could say, Dr. Ivy D. Peltz at Doccupations, website, picture, photo. So there's a lot of subtle marketing on Dentaltown but you have to...
Dr. Studley: Right.
Howard: ...go in to share...
Dr. Peltz: Right.
Howard: ...the information, you can't say, if someone (unclear 1:04:29) question on disability, you can't go in there and post, well private message me and I'll tell you.
Dr. Studley: Right.
Dr. Peltz: Right.
Howard: Well that spamming the board...
Howard: ...what we want you...
Dr. Peltz: Yeah
Howard: ...to do is answer the damn question so that other people can learn and read and share because there might be a follow-up question by someone else who says, what do you mean HIV cover? I'm worried about chlamydia and gonorrhea and syphilis, are those covered? And so, either you could do a ton of marketing, just answering these questions.
Last question. I want to ask this to Ivy, who's a double doctor. There's a thread on Dentaltown that just absolutely exploded and it was basically, I started the thread with an article from The Economist basically saying that, basically it's a huge marriage problem, when your wife makes more than the man and that all through the history of time, the man had the big coal mining job and the manufacturing job and the wife stayed home or maybe (unclear 1:05:27) waitress and now so many women are doing so much better. So back to women dentist. These women dentists, their husbands always say to me, that it makes them feel bad that their wife makes more money than them and I just say well, don't think about it while you're vacuuming and, but a lot of it, this is a big problem and I have a lot of women in tears, that don't even want to start their own (unclear 1:05:54) because they own their own practice and they're making a hundred and seventy-five, two fifty, their husbands working at some Fortune five hundred company in a management job, making sixty thousand and he gets promoted and he's got to move from Phoenix to Seattle and he says, come on honey let's go and she's like what? I make three times you, I have a repeat business, I have a clientele, Jiminy Christmas. So, Ivy, it's a new world. When I was little, I grew up in Wichita, Kansas. Went a Catholic Mass every day, every woman I know stayed home and raised six, eight, nine kids. Only the man had the job. What marriage advice would you give, now that dentistry's gone from pretty much a male profession, to now a fifty-fifty male female and you have so many women dentist, that are the breadwinners of these families and it's playing with her husband's mind. What would you advise her?
Dr. Peltz: Well, first of all, I am in no position to offer marriage advice to anybody. So I just want to set that record straight at the get-go...
Howard: Hey, the guy who wrote, Men are From Mars, Women are from Venus, he had more divorces than most of us.
Dr. Peltz: ...(unclear 1:07:08) I definitely was very aware of that when I graduated dental school in 1983. I had some relationships where that did play a factor into the relationship. But I've seen a huge change in our society and what's accepted and I don't think it really is affecting this next generation very much. In fact...
Dr. Studley: (unclear 1:07: 30).
Dr. Peltz: ...I would say that there's actually been a little bit of almost a backlash where the men seem very willing to allow that situation to occur, where the wife is the one who's the main breadwinner of the family and the husband is actually, we have an apartment in Manhattan. And when I go to work early in the morning and the children are being brought to work, it's by the dad, it's all the dad, the moms are at work already. So there definitely has been a shift and I think that if a couple is having trouble with it, they should seek counseling because basically, a marriage, in my opinion, is a partnership and if you're having trouble with the dynamics of the partnership, it really doesn't matter who is earning what, you are in a partnership in a corporation together, which is called your family and everything needs to get taken care of by somebody and it doesn't matter who is the person doing it. Whoever it works out for better at any given moment, is the way that it will most likely work best.
Howard: And I think...
Dr. Studley: (unclear 1:08:37).
Howard: ...I can speak on behalf of all four of my sons, that you should never get married or have children`.
Dr. Studley: Ouch.
Howard: ...that's what Ryan tells me every day. But, hey we're way over. I want to tell you guys. Thank you so much for coming on the show today...
Dr. Peltz: (unclear 1:08:55).
Howard: ...you'd really help so many people if you'd just go on Dentaltown and just start answering and rifling through those questions.
Dr. Studley: (unclear 1:09:02).
Howard. Let me tell you something about Dentaltown. So there's a quarter million dentists, they posted five million times but doesn't matter if the threads, a year old, two-year-old, three. Whenever you post on a thread it bumps it to today's active topics. 80% of the dentists get on Dentaltown, they read today's active topics. And the difference between Dentaltown and Facebook is real simple. MySpace, Friendster, it all started out with e-mail groups. So you just open up your e-mail and there'd be this endless unorganized e-mails. And that's what Friendster, MySpace, Facebook, Twitter, LinkedIn (unclear 1:09:30) just an endless news feed. Which is great to see, that spent New Years under a lighthouse, that's neat. But when you're digging deep, I say news feeds, like e-mail groups, MySpace, Friendster, Facebook, Twitter, LinkedIn. They're just a mile wide, a inch deep. But when you're trying to learn how to do a root canal, you need an inch wide and a mile deep. So what happens, even if the question was asked a year ago or two years ago or three years ago, it's still being viewed and what happens is you develop this FAQ. So every thread on Dentaltown is searchable. Like if I went to your Facebook post on Facebook because someone told me you posted this great blog about something, whatever whatever. What am I supposed to do? go to your page and just start scrolling back for eternity? Whereas I can go to a message board forum, go right to insurance and then I'm not talking about health insurance or life insurance, I'm going right to disability and so I like it searchable. So whenever you post an answer, it'll put it into today's active topics for twenty-four hours and...
Dr. Peltz: I need to add one other thing about Doccupations. I know we're running out of time but we are a career resource center, we have a career advice section and it's divided into sections so that people can search to some extent, the information that they're looking for. So that is another resource, rather than Facebook, they can go directly to doccupations.com. You don't even need to be a member to get into the blog, so you can be a non-member of Doccupations. Go to our blogs and see our career advice section.
Howard: And when you write a blog, when you spend all that time writing a blog, you can also cut and paste that and go to Dentaltown blogs and...
Dr. Peltz: (unclear 1:11:10).
Howard: ...paste the same thing there.
Dr. Peltz: We will be more...
Howard: Hey last...
Dr. Peltz: (unclear 1:11:14).
Howard: ...and final question. I'm in Arizona and it's actually cold today, it's only seventy-four degrees but we're hearing on the news that you guys got hit by some cyclone thunder or what was that called? and is it hitting you guys?
Dr. Peltz: Oh yeah.
Dr. Studley: Oh yeah.
Howard: What is it called?.
Dr. Studley: It's called a pain in the butt.
Dr. Peltz: I thought it was called, like a bomba blast or...
Dr. Studley: (unclear 1:11:36).
Dr. Peltz: (unclear 1:11:36) I don't (unclear 1:11:38).
Dr. Studley: No, it was, we live on the beach, so we got hit pretty heavy. I actually had a tree fall through the roof of my car. So...
Dr. Peltz: Last night.
Dr. Studley: ...night, yeah.
Dr. Peltz: And it's been a rough twelve hours.
Howard: Well, we had a storm here about, it was about three weeks ago and it blew my lawn chair over and I had to go out there and set it up...
Dr. Peltz: (unclear 1:12:04).
Howard: ...in my underwear but anyway...
Dr. Studley: (unclear 1:12:06).
Howard. But again.
Dr. Studley: ...I've got to buy me a new roof for my car, I'll buy you lunch.
Dr. Peltz: (unclear 1:12:11) lawn chair.
Howard: (unclear 1:12:12).
Dr. Studley: And the lawn, I'll buy the lawn chair, I'll buy two of them so you can...
Howard: And final...
Dr. Studley: ...sit with (unclear 1:12:15).
Howard: ...final question, I won't bother you anymore. Final question. Nobody can understand about New York, New Jersey. So when people come to Arizona, 10% are from California and the rest from the Midwest. They all go to Phoenix, Glendale, Mesa, Tempe, Chandler, (unclear 1:12:30). But every time they move here from New York or New Jersey, they only go to Scottsdale and I've been to New York and New Jersey a thousand times and I've been Scottdale a hundred times. What is the deal with New York and New Jersey, they're in love with Florida and Scottsdale. They would never consider living in Phoenix or Mesa or Tempe or (unclear 1:12:51). So what's the deal with Scottsdale and New Yorkers?
Dr. Studley: It really has become, it was almost, I think it was when the Jews migrated and took over Brooklyn, back in the day. And then when that sect was going to retire it really was, it was like Florida was and then, but if you had a couple of more bucks (unclear 1:13:15) Scottsdale.
Dr. Studley: (unclear 1:13:17).
Howard: ...so Scottsdale, of the higher class than Florida.
Dr. Studley: Yeah...
Dr. Studley: ...yes.
Dr. Studley: (unclear 1:13:21).
Howard: ...I did not know that.
Dr. Studley. (unclear 1:13:22) little further away from your kids, you went to Scottsdale.
Dr. Pelz: But I didn't have an uncle who moved to Glendale...
Dr. Studley. Right.
Dr. Peltz. ...just so you know, these names are familiar to me.
Dr. Peltz: Yeah.
Howard: Well, he's the only New Yorker I know who lives in Glendale. I'll put that on my trivial pursuit list. Hey, thanks for coming on the show and please...
Dr. Studley: Thank you.
Dr. Peltz: (unclear 1:13:41)
Howard: ...please log on at Dentaltown and start answering some of these questions.
Dr. Studley: (unclear 1:13:44).
Howard: ...it'd be great for the kids, it'd be great for your business, it'd be great for me. Have a rocking hot day.
Dr. Studley: You too...
Dr. Peltz: You too
Dr. Studley: ...and thank you.
Dr. Peltz: ...Howard. Bye.
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