Selling Your Practice to a Dental Corporation

Selling Your Practice to a Dental Corporation

We all know that corporate dentistry is alive and well in Canada. The recent Dental Corp public offering is a strong testament to the vitality of corporate dentistry in Canada. If we follow the trends in the United States, we can expect to see corporate dentistry grow at a healthy pace for some time to come. It is also likely that you may have been contacted by one of the corporations with an offer…

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Exciting News From Hill Kindy – Moving Forward in 2021

 

Hill Kindy Announces Company-Wide Rebrand

As you may now know, Hill Kindy has been a valuable component of the Heaps & Doyle group of companies since joining forces in 2019 to grow Canada’s first truly comprehensive Dental Practice Advisory Group.  As part of the Heaps & Doyle family, we are excited to share with you that kicking off on September 1st, Hill Kindy, along with all of our sister companies including Al Heaps and…

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Incremental Revenue – A Series – Part 9 – In Summary

 

Introduction  

This summary will be the last installment in the Incremental Revenue series, at least for now. I want to briefly touch on the various topics we have addressed over the last couple of months. I will number each of the summary points so that you can easily find your way back to the specific detailed articles. I am also going to suggest an easy way to get an assessment of the existence and…

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Incremental Revenue – A Series – Part 8 – Associates

 

Introduction   

In this installment of the Incremental Revenue series, I will be highlighting an area that is often overlooked or misunderstood.  I am going to address the utilization of associates.  The effective use of associates relates to incremental revenue in several ways; however, most importantly, it addresses one of the ways a practice can deal with too many patients.  In the past, it was not uncommon to hear of dentists closing their practices to…

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Incremental Revenue – A Series – Part 7 – Dental 2 of 2

 

Introduction   

This installment in the Incremental Revenue series will generally deal with potential incremental dental revenue.  Specifically, this installment will be dealing with treatment planning and case presentation.  The last installment dealt with the diagnostic aspects of incremental dental revenue.  It is important to remember that the purpose of these articles is to explore the incremental revenue potential of a dental practice.  The intent here is not to present yet another article on treatment…

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Incremental Revenue – A Series – Part 6 – Dental 1 of 2

 

Introduction   

This installment in the Incremental Revenue series will deal specifically with potential dental incremental revenue areas.  This aspect of incremental revenue is considerably more complex than that of hygiene incremental revenue.  While hygiene services are pretty much the same from one office to another, the dental services provided by one dentist can be very different than the dental services provided by another.  We are going to focus on incremental revenue sources that would…

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Incremental Revenue – A Series – Part 5 – Financial Arrangements

 

Introduction   

This installment in the Incremental Revenue series will focus on the benefits and incremental revenue found by making dentistry affordable.  There are many options open to help patients pay for their dentistry other than discounting your fees.  We will be looking at those options as well as the psychographic factors that affect patients’ perceptions of the cost of their dentistry.

Proposition 

Did you know that 2 to 3 million Ontarians avoid trips to the dentist…

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Incremental Revenue – A Series – Part 4 – Hygiene Revenue

 

Introduction   

This installment in the Incremental Revenue series is the first to deal directly with revenue sources.  Installment #3 focused on new patients, an important raw material for providing incremental revenue.  In this installment, we investigate specific areas within the practice where a dentist can find incremental revenue.

Proposition   

In most practices, hygiene operations are the source of the greatest amount of incremental revenue.  Incremental revenue comes from either additional hygiene services or dental services. …

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Incremental Revenue – A Series – Part 3 – New Patients

 

Introduction   

At this point, we will have elaborated on the value of incremental revenue and the essential components of incremental revenue. For the next eight or nine installments, I will expound on different ways to add incremental revenue to your practice.  The topic for today is the effect of new patients.

Proposition   

One of the main components of the incremental revenue function is new patients.  We have already established that patients are a dental practice’s…

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Incremental Revenue – A Series – Part 2 – Roots

 

Introduction

While we have determined that incremental revenue can increase practice profit and value significantly, I need to explain in general terms the factors that contribute to incremental revenue.  The concept of incremental has to do with minor changes made to an entity that already exists.  If a child’s height were 91cm several months ago and is now 95cm, the additional 4cm would be the child’s incremental height from the first to the second measuring. …

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