Dental Office Overhead

Dental Office Overhead

The following overhead numbers are typical of a well managed Dental Practice: • Staff Salaries (including benefits and government required Payroll expenses) = 24-28% • Clinical Supplies = 6% • Lab Fees (all) = 7-8% • Rent or Lease payment = 4% • Equipment Leasing/Purchases = 2-3% • Office Supplies (includes postage and electronic billing and filing charges) = 2-3% • Utilities, telephone, accounting, legal and professional fees = 10% Ideal, true, overhead should be no more than 60%. Some numbers may be included as “overhead” or “practice expenses” that are not absolutely required to run a Dental Practice. These more »

Does Your Incentive Plan Inspire Your Team?

Does Your Incentive Plan Inspire Your Team?

With the slowdown in the economy, yearly pay raises may be difficult to give.  However, a bonus program can be a great way to motivate current employees and even acquire new ones (when needed). When you include an incentive bonus in your total compensation package, it shifts employee mentality to that of ownership. They become motivated to be more productive and see the practice be successful when they are rewarded for ‘going the extra mile’. With that being said, as the practice owner, you need to be clear when presenting a bonus program. A written copy of the bonus protocol should be more »

A Note From Mary

A Note From Mary

When you think you can’t afford to hire a practice management coach or consultant is when you need one most. If your practice is in need of a consultant/coach, find one that will work with you on payments. Our clients see their investment repaid many times over and in a very short period of time. Why wait for tomorrow, when you can see results today? For more information on our services, see our website at www.thedentalbusiness.com or email us at clientcare@thedentalbusiness.com. At The Dental Business we welcome ideas, comments and questions for future blog posts. Do you have an idea more »

Dental All-Stars Podcast

Dental All-Stars Podcast

Mary Fisher-Day, discusses the importance of team communications for this Dental All-Stars Podcast. Great information that every dental practice can use! To listen to this podcast, find out why team communication is so important, and learn best practices click here Dental All-Stars Podcast Mary Fisher-Day, founder of The Dental Business, was asked to discuss the importance of team communications for this Dental All-Stars Podcast. Great information that every dental practice can use! To listen to the podcast, visit this link. At The Dental Business we welcome ideas, comments and questions for future blog posts. Do you have an idea for a compelling article more »

Top Mistakes Made By Dental Practice Owners

Top Mistakes Made By Dental Practice Owners

What are the top mistakes made my dental practice owners? 1- Under estimating the value of team communication   * Morning meetings or huddles are the most important communication of the day. This 10 to 15 minute meeting will set the tone for the day. The Doctor or Scheduling Coordinator should facilitate   Review the schedule for the day Determine where emergency patients should be placed on the schedule Discuss your goals for the day and month. Where you are, where you need to be and what you can do to get there Review prior day and discuss any issues that more »

The Face of Your Practice

The Face of Your Practice

Front Desk Team Members Whenever one thinks about the way a doctor’s office should be run, they should compare it to the parts of a body. If the doctors and medical staff are the hands, and the billing coordinator is the brain, then the front desk is undoubtedly the face. The front desk position is a vital aspect of any practice because it is the first and last contact for a patient. That is why it is imperative that the individual chosen, can balance the tight rope of running an above standard patient care facility and a successful business. First, they need to understand that the relatively intimate relationship between patient more »

A Note From Mary

A Note From Mary

Hello everyone, Hope you are enjoying your summer!  While you are enjoying it, here are a few things to think about, to help your business. First of all: just say… Thank  You. Your Team:  Do they feel appreciated? Hint: It’s not all about money. I’ve spent countless hours speaking with Team members about their jobs and job satisfaction. While monetary compensation is important to all of them, the overwhelming majority place feeling appreciated at the top of their list of reasons for job satisfaction.  In today’s economy, you may not be able to give pay raises but you can sayThank You. Here are more »

Dental Negligence – Are you covering your tracks?

Dental Negligence – Are you covering your tracks?

Written notification of Periodontal Disease is essential for every Dental Hygiene Program. Make sure your entire team understands that informed refusal is just as important as informed consent. The main function of informed consent is to protect the patient’s right to self-determination of whether or not to accept the treatment proposed. The dentist and hygienist are responsible for providing patients with several important factors to make sure that they are properly informed: Explain the procedure using understandable terms and language Explain clearly the reasons or diagnosis for the planned procedure Explain the benefits, anticipated outcome, and prognosis of the procedure more »

Is Your Team On Board?

Is Your Team On Board?

Do you have a practice mission statement? If not, you really should. If you do, is your team on board? I believe teams are the same regardless of industry. A business will succeed or fail because of the team. A coach cannot win a game without a team just as a dentist cannot practice dentistry without a team. The definition of team, according to businessdictionary.com, is “A group of people with a set of complementary skills required to complete a task, job or project.” I would like to add MISSION to the definition. To carry out a successful mission it more »

Eight Things Employees Expect and Deserve

Eight Things Employees Expect and Deserve

Do you feel as if your employees are happy, motivated and satisfied with their career choice? Do you know what the Eight Things your employees expect and deserve the most? These Eight Things may surprise you! To be treated with Respect Acknowledgement when expectations are exceeded Good Work Environment Expectations made clear Performance Evaluations Communication on a regular basis Consistency of Rules Fair Compensation Do your employees feel like they are getting all these things and more? If not we can help!! Contact us at: clientcare@thedentalbusiness.com Until next time, Mary .. At The Dental Business we welcome ideas, comments and questions more »