Dental Practice Transition (eBook)

Dr. David Dunning has provided management consulting services for many years. He has been on the faculty of the College of Dentistry, University of Nebraska Medical Center, for more than 30 years, teaching and conducting research in behavioral science and practice management. In addition to developing the practice management curriculum, Dr. Dunning has helped many students transition into private practice--start-ups, associateships and practice purchases. Dr. Dunning served as a leader in ADEA's Section on Practice Management in various roles for many years. Dr. Brian Lange has developed a real estate business and provided counseling/consulting services for many years. He has been on the faculty of the College of Dentistry, University of Nebraska Medical Center for more than40 years, teaching and conducting research in behavioral science and practice management. Dr. Lange has served as an officer in ADEA's Section on Practice Management and is the current Councilor for the Section.

Contributors vii

Preface ix

About the Companion Website xi

Part 1 An Introduction to the Practice Transition, Dental Practice Financial Statements, and Practice Financial Analysis 1

Chapter 1 Introduction and Overview 3
David G. Dunning and Brian M. Lange

Chapter 2 Financial Statements 23
David O. Willis

Chapter 3 Practice Financial Analysis 35
David O. Willis

Part 2 Ownership: Business Planning, Practice Valuation, Dental Equipment, Buying/Buying into a Practice, Starting a Practice, Financing a Practice and Business Entities 51

Chapter 4 Business Planning: Fromthe Perspective of theDentist and the Banker 53
Nader A. Nadershahi, Lucinda J. Lyon, and Lisa Itaya

Chapter 5 Understanding Practice Valuation 85
C. Steven Wolff, DDS

Chapter 6 Dental Equipment 97
Mike Wacker

Chapter 7 Buying/Buying into a Practice 113
Nader A. Nadershahi and Lucinda J. Lyon

Chapter 8 Starting a Dental Practice 133
David G. Dunning, Bradley Alderman, and Tyler Smith

Chapter 9 Financing a Practice 153
Gavin Shea

Chapter 10 Business Entities 169
Arthur S. Wiederman and Ross L. Crist

Part 3 Business Systems and Related Issues: Incorporating Technology, Dental Fees and Financial Policies, Dental Benefits, Appointment Scheduling, Compliance, and Embezzlement 189

Chapter 11 Incorporating Technology 191
Thomas Terronez

Chapter 12 Dental Fees, Fee Setting, and Financial Policies for Patients 203
Robert D. Madden and Eugene Heller

Chapter 13 Dental Benefits 231
Kristen Strasheim, RDH, BSDH

Chapter 14 Appointment Scheduling Strategies 245
Dunn H. Cumby

Chapter 15 Compliance with Government Regulations 275
Ronda Anderson

Chapter 16 Understanding Embezzlement 287
David Harris

Part 4 Marketing and Patient Communication 307

Chapter 17 External Marketing 309
Darold Opp

Chapter 18 Internal Marketing and Customer Service 323
Amy Kirsch

Chapter 19 Chairside Communication with Patients 337
David G. Dunning and Brian M. Lange

Part 5 Associateships and Dental Support Organizations 347

Chapter 20 About Associateships 349
Richard S. Callan

Chapter 21 Dental Support Organizations 369
Rick Workman

Part 6 Managing Staff: Human Resources/Compliance, Managing Dental Teams, and Staff Meetings 383

Chapter 22 Human Resources and Employment Compliance 385
Tim Twigg and Rebecca Boartfield

Chapter 23 Managing Dental Teams 401
Amy Kirsch

Chapter 24 Staff Meetings 421
David Neumeister

Part 7 Money Management: Insuring a Practice; and Personal Finance, Investments, and Retirement Options 443

Chapter 25 Insuring a Dental Practice 445
James E. Spitsen

Chapter 26 Personal Finance, Investments, and Retirement Options 471
William "Dana" Webb and Brian M. Lange

Index 489