Why is 2014 Such a Pivotal Year?
- You’re getting older. The average dentist in the U.S. is 50 something. Some 50 + dentists are working on their exit strategy and others are working on their business strategy because they require more income and are trying to fund their long term retirement objectives.
- The Affordable Healthcare Act will gain momentum and the dental community that serves the geriatric, pediatric, uninsured, under served and Medicaid population will experience higher volume. More Americans will enter the healthcare arena and will eventually embrace preventive and restorative dentistry.
- Technology investment is no longer a personal choice. It is becoming the great differentiator. Look at your website and compare it to some offices in your area. The contemporary practice is marketing same day dentistry and digital imaging. Consider the patient of today. They will go on the web and compare offices for services provided and insurance participation. The results of such a search will be telling!
- Compliance and regulatory issues are omnipresent. OSHA – HIPAA – ELECTRONIC RECORDS… Soon you will have to submit all of your insurance claims electronically – are you ready now?
- Staff and overhead costs are rising and as we slowly move towards expanded duties and middle level technicians (similar to the Physician Assistant business model). We will have higher payrolls in the future but the dentists will be free to perform more productive services! Evaluate procedures performed and code utilization. Are you missing something?
- PPO and insurance dependency continues to expand in the private sector and will be the norm. Fee for Service dentistry will account for less than 10% of the entire market.
- Insurance companies are dictating fees and will mandate electronic claim submission. If you do not have a qualified, comprehensive practice management system you will lose opportunity and will have higher administrative costs. .
- The internet has made marketing and reputation management a major focus for most. Google yourself and you will find a Healthgrades review on you. Your web reputation is your reputation!
- Preventive healthcare pays less than fix, repair and surgical treatment but the benefits are numerous. The addition of saliva testing, cancer screening and genome testing will generate lab revenue. Additionally, implant, cosmetic dentistry (including facial fillers), sleep dentistry and Total Health dentistry will expand your patient services and reach.
If not now – then when? Change is all around us and not evolving puts you further behind. A business either grows or it doesn’t. You are the author of this book!
The Greater New York Dental Meeting is upon us. This meeting is arguably the largest dental convention and educational forum we have in the United States. It is certainly the industry’s largest showcase of dental equipment and technology!
Now more than ever before, the GNYDM has become the place where manufacturers introduce new technology, equipment and software in hopes of being the next new best thing! The vast C. E. offering begins on Friday, November 29 and runs through December 4th. The exhibitor hall opens on Sunday, December 1st and runs through Dec. 4th! For more information click on this link- http://www.gnydm.com/
All doctors considering large capital equipment purchases should consult with their accountant regarding the section 179 deduction for calendar year 2013.
Top Items To Consider At The Greater New York Dental Meeting:
- Nevo Digital Impression Scanner
- Identafi and Velscope Cancer Screening Device
- Cordless L.E.D. curing lights
- DemandForce – Patient communication/contact software
- Voice over IP phone system
- 6 Pin LED Fiber Optic high speed handpieces from Kavo
- Electric Handpieces from Bien Air, Kavo, NSK and Star
- Digital X-Ray systems – Dexis and Gendex
- The second digital sensor for existing users
- Nevo E4D CadCam Milling system
- Digital Panoramic units w or w/o the bitewing option
- 3D Imaging – iCAT, Gendex, Instrumentarium and Planmecca
- L.E.D. Operatory replacement lights from Belmont, Dental EZ, Midmark and Pelton & Crane
- Dentsply Cavitron/Cavitron Jet
- Piezo scalers – Acteon, Coltene, EMS and Hu-Friedy
- Handpiece purging systems – Kavo, Midwest and Morita
- Digital Doc Intra Oral camera – great for Invisalign
- Sopro and Polaris – great cameras with visual cavity detection
- Soft Tissue lasers – Cao /Biolase
- Combination laser – Biolase
- Water purifying systems
Life can be exhilarating, fun, exciting and it can be trying. For Linda Miles and Robin Morrison it was their trying times that brought them together to form a unique oral cancer foundation, Oral Cancer Cause, Inc. (OCC), a 501(c) 3 non-profit. They both lost a loved one to oral cancer within a few months of one another in 2012. Robin’s brother, Mike, and Linda’s sister-in-law, Charlotte would be here today if their case was detected and treated in the early stage.
OCC is on a mission to recruit dental practices throughout North America to work with them at a grass-roots level to increase oral cancer awareness. Linda and Robin have a combined 80+ years of experience in dentistry and marketing. Their shared passion for dentistry and saving lives is the OCC inspiration. By blending the knowledge of early detection and treatment along with comprehensive oral exams we can save lives.
By providing OCC practices with up to date oral cancer marketing materials for their patients to take back to work, the practice will become known for complete oral cancer screenings. These materials include posters, brochures, articles, press releases and much more that will confidently educate patients and the community on the importance of oral cancer screenings, early detection and treatment. OCC practices are listed in the directory on the OCC website so that patients can search for a dentist in their area who does thorough oral cancer screenings.
Dentists who are committed to the overall health and wellness of their patients, and perform oral cancer screenings at each hygiene visit, are encouraged to become an OCC practice in 2013. Please visit www.oralcancercause.org to learn more about OCC and how you can help us save lives, make the medical treatment phase easier for the deserving families plus market your practice at the same time.
The diagnosis of oral cancer is hardship enough. Not being able to pay their household bills or feed their families during medical treatment creates an additional heavy burden. Working with dedicated dental/medical professionals, sponsoring partners and dental/medical associations, OCC will make a financial difference in the lives of many oral cancer patients and their families.
Why 2D / Why 3D?
It’s simple – you need better diagnosis and need to improve your standard of care.
Most practices can benefit with 3D imaging. Endodontic procedures are simpler and faster and no one can argue the benefits of having the exact root morphology for endodontic therapy. Surgeries for 3rd molars and impacted teeth are safer and faster when you know the relationship and location of the nerves and teeth!
One Out of Every Four
Grocery chains report that one out of every four items purchased by consumers are their house brand.
In dentistry, corporate branded merchandise has gained market share just like the supermarkets and retailers but the quality, features and benefits are excellent and in some cases, superior to the nationally known brands! As brand recognition grows, house brand products will increase in patronage.
According to some dental experts, approximately 80% of a dental office’s sundry purchases are in branded product and the remaining 20% are in distributor house/corporate brand products. The distinctive nature of a product is based on marketing, distribution, and brand loyalty. Expect the private label business to grow for supermarkets, retailers and yes – dental distributors.
The 2014 Coding With Confidence book is now available. There are 29 new codes, 18 code revisions, and 4 code deletions for 2014. Every day, month and year Drs. are losing production dollars by not properly coding / billing the procedures they perform. This can add up to tens of thousands of dollars annually. Aside from the financial concerns, many clinicians could end up with legal issues by improper coding. In most of these matters, it is not by intent but simply miscoding what they are doing. I have yet to look at any dental facilities submissions where there were not coding opportunities.
Why invest in the 2014 Coding with Confidence? Improve coding – eliminate coding errors – boost legitimate reimbursement and understand how to navigate the coding maze.
- 29 new 2014 codes that have been added in nearly every category including:
- CBCT codes
- Caries Risk Assessment Codes
- Unspecified preventive code
- Interim therapeutic restoration
- Restorative foundation for an indirect restoration
- Pulpal Regeneration codes
- Periradicular surgery and bone grafting codes
- Biologic materials/guided tissue regeneration codes
- Gingival irrigation
- Overdenture codes
- Periodontal Medicament Carrier codes
- Second Stage implant surgery code
- Mini Implant code
- Semi-Precision Attachment abutment
- Repair of fixed retainers
- Sales Tax
- 18 revisions that have been made to the existing codes that can change the way you will be applying those established codes
- D0350, D2950, D3351, D3352, D3410, D3421, D3425, D3426, D3263, D4264, D4920, D5991, D6010, D5080, D7950, D7953, D7955, and D8693
- 4 deleted codes that if used will not be reimbursed:
- D0363, D3354, D5860, and D5861
Heartland Dental Care LLC (Effingham, IL) announced it has signed a definitive agreement to acquire My Dentist Holdings LLC (Oklahoma City, OK), a dental support organization which is affiliated with 55 My Dentist Complete Care Dentistry offices in Oklahoma, Missouri, Texas, Kansas, and Arkansas. My Dentist, together with its affiliated dental practices, has 805 employees, including 109 dentists and 71 hygienists. The transaction is subject to certain regulatory and other approvals and is expected to be completed by December 2013. Upon completion of the transaction, Heartland Dental will provide dental support services to more than 500 dental offices in 26 states.
Closing Remarks: The feedback from my recent blogs on corporate dentistry and the dental technological revolution/burden has resonated with so many readers. I have heard many stories about missed opportunities, insurmountable challenges and bad/no luck. I have also heard about incredible successes and people aspiring for greatness beyond, even their wildest dreams. In the end, those that are committed – WIN!
I am very fortunate to work with some of the sharpest clients in the dental arena but we can no longer conduct business as we did in the past. Going forward; we must operate more efficiently, we must hold each other accountable and we must execute! Sometimes we can do it alone and sometimes we need some help.
Best wishes to my clients, business associates and co-workers for a wonderful Thanksgiving. I thank you all for your support, friendship and the trust you have given me throughout the years. Let’s have a great end of year and Holiday Season!