Finance

Janice Keller has 25-plus years of experience in dentistry clinically, and as an office manager and software trainer. Now, as a practice management consultant, she provides high-quality, customized practice development and education to clients and their teams. Jan is certified by human resource experts Bent Ericksen & Associates in employee law compliance, and also certified by the Institute of Practice Management. She is a member of the prestigious Speaking/Consulting Network, and the Academy of Dental Management Consultants. Reach her by email at jkeller@jankellerassoc.com.

Articles

Regardless of your practice philosophy regarding insurance management, you are bound to have heard this kind of statement from patients many times in the past.

The dreaded “Why do I have to pay?”

Alitta Boechler is a marketing manager at Sikka Software. She holds a Doctorate of Audiology from the University of Iowa and an MBA from the Jesse H. Jones Graduate School of Business at Rice University.  You can contact her at alitta.boechler@sikkasoftware.com or (408) 359-3014.  For more information about The Practice Optimizer CompanyÂ® please visit https://www.sikkasoft.com/dental/sikka-apps/practice-optimizer-dental/

As we enter the fall season, chances are that you have patients with remaining dental benefits who also require dental care. According to Forbes, only three percent of patients use all of their benefits in a given year.

Dental benefits: Use them or lose them

Marshall Gifford, CLU, ChFC is a Senior Partner with North Star Resource Group in Minneapolis, Minn., specializing in consulting physicians and dentists in regards to their personal and business financial goals and concerns. Marshall is a co-author of Real Life Financial Planning for the Young Dental Professional and Real Life Financial Planning for the Residents, Fellows and Young Physicians. He has appeared on NBC's KARE 11 News and Fox News in Minneapolis as a financial expert, is a sought after industry speaker and has conducted educational discussions for residents, fellows and students. Learn more about Marshall at www.northstarfinancial.com/find_an_advisor/marshall-gifford/.

As of September 10th, 2015 the American Dental Association (ADA) and Darien Rowayton Bank (DRB) agreed to an exclusive arrangement to allow ADA members an opportunity to refinance existing federal and private student loans at a potentially lower interest rate.

ADA announces student loan refinance option

Bruce Bryen is a certified public accountant with over 45 years of experience and is a part of Baratz & Associates CPAs. He specializes in deferred compensation, such as retirement planning design; income and estate tax planning; determination of the proper organizational business structure; asset protection and structuring loan packages for presentation to financial institutions. He is experienced in providing litigation support services to dentists with Valuation and Expert Witness testimony in matrimonial and partnership dispute cases. He is also a financial writer for several dental journals. You may contact him at 609-502-0691 or at 

How to navigate dental practice transitions

Cindy Ishimoto has more than 30 years of experience in the dental industry, initially as an assistant and business auxiliary, then progressing to a management position, and now as a dental consultant and speaker. Her knowledge of all facets of dentistry, people skills, motivation, and communication are reflected in her ability to teach and train. Cindy's love of people and dentistry enable her to share her enthusiasm to build successful, people-oriented businesses. Cindy can be reached at 808-375-7344 or online at CindyIshimoto.com.

You have been looking at your production numbers and your collections numbers and they seem okay with a “little shortfall” each month in collections, so why are you stressed when you sit down to sign the payroll checks and pay the bills?

Does your accounts receivable need CPR?

Heidi has been working in the dental field for more than 18 years. In 2010, Heidi launched Enhanced Hygiene. She is dedicated to helping dental groups create a strong hygiene development program that will create standards, systems, accountability, partnership and productivity. Learn more about her at www.EnhancedHygiene.com.

The tough economic times have affected all of us in some way, and for many this effect has come in the way of no pay increase in recent years. As news of a recovery and the “new economy” cross the news media, dental hygienists wonder where their recovery is.

Dental hygienists: I want a raise!

Dr. Roger P. Levin is the CEO of Levin Group, a leading dental management consulting firm. Founded in 1985, Levin Group has worked with over 30,000 dental practices. Dr. Levin is one of the most sought-after speakers in dentistry and is a leading authority on dental practice success and sustainable growth. Through extensive research and cutting-edge innovation, Dr. Levin is a recognized expert on propelling practices into the top 10 percent. He has authored 65 books and over 4,000 articles on dental practice management and marketing. He has been featured in the Wall Street Journal, New York Times, and Time magazine and is the creator of the Levin Group Tip of the Day, which has over 30,000 subscribers. To contact Dr. Levin, visit www.levingroup.com or email rlevin@levingroup.com. 

Editor's Note: Based on his extensive experience with dentists over the past 30 years, Dr.
Roger P. Levin has authored a new book entitled, "The 31 Biggest Mistakes Dentists
Make.

The biggest mistakes dentists make: Going over budget

Drawing on over 40 years of clinical experience, Dr. Black focuses on speaking and coaching through in-office consultation. Dr. Black has Pankey-Dawson clinical training and has retained staff an average of 20 years each. He has distilled the wisdom of major national consulting firms into a successful restorative and cosmetic practice in a small suburban town. Dr. Black brings these qualities and more to help both new doctors and associateships needing to increase their productivity by attention to systems. He has proven leadership and administrative skill, and is a dental leader in the local society and MOM’s projects, community boards, and state dental board of directors, committees and task forces.

The year was 1991, and I had been out of school for 20 years. I was feeling comfortable
with my practice growth, and felt I should start looking for some non-dental investments to
grow my net worth and cash flow outside the practice

A dentist reflects on the best piece of advice he  ever received

In our years working as financial advisors for dentists, we’ve seen a lot of unfortunate
things happen to great people. Fortunately, with proper preparation, illness or injury does
not have to end with a financially devastated family or a broken practice.

The most important questions to ask and answers to know to see if you're really prepared for a disability

Feel free to contact J. Haden Werhan, CPA/PFS, principal and owner of Thomas Wirig Doll, an accounting and wealth management firm that works with dentists. He can be reached at haden@twdadvisors.com or (877) 939-2500.

Naomi Cooper is President of Minoa Marketing and CEO and co-founder of Doctor Distillery, which is now part of Genly. Naomi is a respected dental marketing executive, strategist, consultant, author, speaker and industry opinion leader. With over 16 years in the dental industry, she has helped leading companies across the dental industry consistently create tangible results for their marketing efforts aimed at the dental professional. Naomi also blogs regularly at www.minoamarketing.com. For more information about Doctor Distillery, email naomi@doctordistillery.com or visit www.doctordistillery.com. 

When it comes to transition or retirement, dentists have several options.
They can sell their practices, find associates or simply throw their hands up and reduce office hours and production until they end up closing shop.

Money