Scheduling retiring dentists I am on tape 24 of your 30-Day series and I cannot thank you enough for all I have learned and been able to implement. I have a question about what you think might be the best way to handle scheduling with a retiring dentist and the buyer. I have recently purchased a new practice in a new area. The selling dentist will be paid 35% of his production. Our buy/sell agreement states that for the next 6 months he can work one (or more) days per week as mutually agreed upon. I ran a successful fee-for-service practice for 10 years before relocating, so I don't need him for anything other than to transfer goodwill. In your experience, with good verbal skills by the staff, should I have him around just to introduce me to his patients? Or should he be doing crown and bridge? All I would be doing would be hygiene for now...which you did say was a good way for a new doctor to really meet some of his patients. |
–Bard Levey |
Greetings Bard, I think the most important part of the transaction in buying and selling dental offices is that the selling dentist carries at least 50% of the loan. When a selling dentists gets all of their money upfront, they have no economic incentives to see you succeed. When the selling dentist is on the loan for 50% or more, they have every economic incentive to see you through to success. The selling dentists should send a letter to all of his or her patients introducing you and passing out your business cards at every opportunity.
If the selling dentist is not carrying a percentage of the note, I would still see if you can get him or her to write a letter and mail it out to every patient of record. You could definitely have the selling dentist stay on for 35% of production. Thirty-five percent is very high if you are paying for everything else; lab bill, dental assistant, etc. But at 35% you most likely wouldn't be losing any money of the deal, you just probably wouldn't be making any money on the deal. No deal is better than a bad deal, but this would seem to be a neutral deal.
If you think the selling dentist has a lot of personality and that it will really help for him or her to introduce you to everyone, then I would have him or her stay on full time for at least one set of 6 month recalls. If you think the selling dentist is an introvert geek, then a letter should be fine, and you could do the dentistry without paying him or her 35% to do it. |
-Howard |
Do you use superbill? Last fall I attended your talk with the NJ Dental Association. It was great! You sent me a copy of the form your office uses to get benefit information from insurance companies. It has been very helpful to us.
Do you use a superbill to communicate treatment performed to the front desk, or do you have a computer workstation in each treatment room to input the charges? I ask because I am in the process of making a new form to communicate treatment/fees to the front desk, and I know you have your great systems in place. If you have a superbill, can you kindly send me a copy? |
–Jeff Schillinger, DDS, FAGD |
Greetings Jeff, We have a workstation in each of our 8 operatories. The dental assistant is responsible for inputting and posting the treatment that was performed. The treatment plan is also inputted in the operatory by the dental assistant. A copy of the treatment plan is delivered to the front desk upon discharging the patient. The front office then verifies the patient's dental coverage, applies appropriate deductibles, goes over the cost for the current visit, and goes over the cost for future visits. We are almost completely paperless, so superbills are not utilized in our practice. Our Today's Dental goal is to be 100% paperless by July 4th. We want to become "chart" independent on Independence Day! |
-Howard |
Malpractice Insurance Suggestion My malpractice carrier just informed me that they are dropping their coverage in our area (Philadelphia) which includes me. I am in the market for a malpractice carrier and I remembered that you suggested a carrier in one of your DentalTown magazines. Could you give me the name that you suggested? |
–Terry Snyder |
Greetings Terry, I personally use and recommend NCMIC Dental Solutions. Dental malpractice insurance is a highly fragmented market. No single carrier has even 5% of the dental market. The reason I chose NCMIC is because they have over 50% of the chiropractor market. When NCMIC chose to go into dentistry they committed themselves to the long run. Based on how they approached the chiropractic market, I feel strongly they will someday be the largest player in the dental malpractice market.
You should contact Kevin Pendergast at NCMIC at 1-800-247-8043 or email kprendergast@ncmic.com. |
-Howard |
No File Separation You had an article a couple of months ago about the Tulsa rotary instruments you use for your RC instrumentation. You mentioned there was a certain size that in your experience does not separate, while other sizes do. Could you please elaborate? |
–Joshua Chopp, DDS |
Greetings Joshua, I use Dentsply Profile .06 tapered files. The .06 are big enough and strong enough to withstand breaking, separating, etc. I start with #45, and go crown down. If it is a big canal such as an incisor, or the palatal root of a maxillary molar, then a #45 or a #40 goes to apex. As the roots get smaller, and more curved, then I drop to a #35, #30, #25, and even a #20 if it is really curved. I only use each .06-tapered file once to avoid breakage. I then fill the canal with the same exact size and shape .06 tapered gutta percha point from Meta Dental.
You can contact Meta Dental at 718-639-7460 or email service@metadentalco.com. |
-Howard |
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