My Practice My Business: The Clinical Business of Dentistry

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All of us here at My Practice My Business have been busy working at Utah's Capitol Hill on three legislative bills that will help dentists and their patients in the State of Utah. If these bills are passed, they will be passed on to other states. 

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Take your time at the end of the appointment when patients need treatment. It's not a major rush to get them out of the office at this stage of the game. Give your case presentations from the heart, not some script. Patients can tell the difference.

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For years, I have never been a fan of "in-house plans." I have recently (four months ago) signed up for one. More out of curiosity than anything, just to see if they are really worth it. There are many companies out there who are selling "in-house membership plans", or the administration of them, so you can be competitive with #insurance plans. But are they right for you? What are thy, and how do they work? Are they just a #discount plan? In this podcast we are going to discuss some of the advantages and definite disadvantages to engaging in these products. #MPMB #MyPracticeMyBusiness #FrontOfficeTraining #DentalOfficeManagers #Dentist #Dental 

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Can and should you use D0140 Limited Exam with D9110 Palliative Treatment? The answer is in this podcast.

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The pro's and con's about what fee you attach to those insurance claims. 

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We've all been there, sleepless nights, irritable bowel syndrome, tension at home, all because of that "one employee" who you know is aggravating you and your team, let alone your patients. But you just don't have the courage to tell them "you're fired." Doc, learn to just "let go" and trust it will get better.

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Here in Utah we are working on State Laws that will help dentists in all States when it comes to protecting our patients, and being paid fairly for the services dentists provide. Think about this, if "up-coding" of procedures is a felony, why are dental insurance companies allowed to "down-code" procedures to get gain?

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There's a certain segment of our dental training that doesn't get the attention it deserves, and that is preparing for retirement. 95% of dentists are not prepared! There are many reasons that prevent dentists from preparing, and most of the time it comes down to profit margins on the dentistry they provide. If dentists are busy in their practices, they've made payroll, and there's money left over in the checking account, they believe they are doing just fine. Dentists who are successful at having a retirement account that will maintain their current, or desired, lifestyle have profit margins that are consistent, regardless of being a PPO driven practice, fee-for-service, or a hybrid of both. It's all about profits and profitability, two terms dentists just choose to avoid. Oh where is our business training. That's exactly why our clients are successful here at My Practice My Business. We teach this stuff!

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As if being a dentist isn't stressful enough, we also get to deal with the second highest cause of stress in the workplace, that of blending together the people who work for us. In this episode we discuss reasons for dental office conflict, how job titles often times cause issues, and how to fix issues with team members before it becomes a problem. 

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Direct operating costs are to be viewed on an hourly rate. Knowing this number is mission critical in setting your fee-for-service fees, and determining if a particular dental insurance is worth being a provider for. As in any business, profits and profitability are key to maintaining a thriving and successful practice.

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