adventure - Burkhart Dental Supply
Transcription
adventure - Burkhart Dental Supply
Issue 3 | 2015 ENJOYING THE ADVENTURE Meet Dr. Matthew Wimmer of Denver, Colorado ANCHORED IN SAN PEDRO LA LAGUNA Lending a hand with Proyecto Fe International CREATING A PARTNERSHIP With the Supply Savings Guarantee The BRAVO™ gives you fast and consistent dry loads every time. With closed-door drying, fresh water every cycle and a large capacity, you can process your instruments with unparalleled efficiency. Loads are reprocessed from start to dry in a scant 35 minutes so they are ready when you are. Experience the leading edge speed of Bravo. scican.com BRAVO and Your Infection Control Specialist are a trademarks of SciCan Ltd. Time really is on your side. UPDATE YOUR WAY CHOICE Updating your practice over a period of time, as you do with your home, following a plan that works with your budget, is one of your most important longterm financial considerations. You’ll minimize the financial impact while improving curb appeal and the enjoyment of patients and staff. forestdental.com Success 16 Table of contents Enjoying the adventure: Dr. Matthew Wimmer REFLECT YOUR By Elaine Dunn, photos by Sean Holveck 24 “Pelton & Crane produces beautiful equipment that contributes to the aesthetics of my practice while still GIVING BACK: anchored in san pedro la laguna offering great functionality for excellent dentistry.” - Dr. Bradford Picot By Anne Baer, photos submitted by Dr. Biederman and Proyecto Fe International Practice Management 16 Meet Dr. Matthew Wimmer in Denver, Colorado 44 Are you thinking of adding an associate? 6PracticeView: How does your practice stack up? 9Thanks for asking 24 12Form Follows Function: Testing the Occlusion Before You Start, part I We are passionate about creating clinical environments Assistant Success 22Supply Savings Guarantee: Creating a Partnership 30 comfortable knowing Pelton & Crane is a name you can trust. Your Image Reflected. Reflect your success with Pelton & Crane’s innovative new products Learn more at pelton.net/newproducts Chairs | Delivery Systems | Lights | Cabinetry | Water Treatment | www.pelton.net | 800.659.6560 064924/ rev 0 / 02.15 By Derek Johnson, Burkhart Branch Manager an electric relationship with kavo By Christopher C. LeCuyer, DDS OFFICE DESIGN 32 that enhance the dental experience for practitioners and patients - and with 115 years of experience, you can feel By Dr. Rhys Spoor, DDS, FAGD Technology Dr. Paul Biederman gives back to create innovative products that reflect your success. By the Practice Support Team Clinical Success At Pelton & Crane, we combine design and functionality By Kathy Edwards, RDH Index of Advertisers: A-dec...........................Back cover, 5 Dental Group LLC......................... 42 acteon............................................ 39 Forest.............................................. 1 air techniques............................. 29 Kavo................................................ 31 Akt advisors................................ 42 Nomad......................................................15 Burkhart dental supply: Practice Support Team........................ 8 Handpiece Repair Center...................14 Supply Savings Guarantee................. 23 Nsk............................................................14 gendex........................................... 27 Scican............... inside front cover Instrumentarium...inside back cover Vatech............................................ 43 the tangibles and intangibles of a successful office design By Russ Cornelius Wealth management 40Death and taxes: Focus on what you can control (part II) By Sam Martin, MBA (tax), CFP™, CPA Pelton and crane.......................... 2 Planmeca.......................................11 CATALYST MAGAZINE // Issue 3, 2015 // 3 What would your dream look like? Serving the Dental Profession since 1888 FROM THE president B urkhart is passionate about providing exceptional service for our clients. We aim to identify each client’s unique needs along with their personal and professional goals. We strive to provide helpful information, skilled service and specific products. We earnestly work in the best interest of others because at the end of the day, that’s what makes our work most satisfying. Passion is not a virtue developed overnight. Since 1888, Burkhart has worked to make sure every service we provide in some way improves the career or life of the client. Many of the services we provide help free up our clients from smaller day-to-day tasks and allow them to focus on their top priorities. Some of those services include: managing inventory, controlling supply costs, and making sure digital equipment and software work well together. At Burkhart we realize our clients are both dental professionals and business owners. It is our goal to help them be successful at both. Catalyst is fully dedicated to that success. The articles in this publication vary from product use and selection to business management topics and provide information and guidance that can lead to a more successful practice. Throughout the publication are stories of Burkhart clients who have succeeded in the areas highlighted. We hope you enjoy! If you have a request for a topic that you would like for us to cover in Catalyst, please contact Mark Beagley at: [email protected] Catalyst Magazine is published by: Burkhart Dental Supply 2502 South 78 th Street Tacoma, WA 98409 p) 253.474.7761 f) 253.472.4773 Publisher Greg Biersack EDITOR Mark Beagley Designer Sara Wisely Advertising We are focused on one central goal of providing the best client experiences. Staying focused is what makes us efficient, knowledgeable, and current in the marketplace. Melissa Gill All rights reserved. Reproduction of any part of this publication without written permission from the Publisher is strictly forbidden. Images are not necessarily to scale. Time to create that treatment room you’ve always wanted. From your computer or any mobile device, explore all your options. Choose your layout and equipment, apply your favorite color combinations and even request your color samples. Customer Service: Lori Burkhart-Isbell President 4 // Burkhart dental supply 800.562.8176 It’s easy to dream big at a-dec.com/InspireMe. © 2015 A-dec Inc. All rights reserved. PRACTICE MANAGEMENT PRACTICE MANAGEMENT PracticeView How does your practice stack up? by Kathy Edwards, RDH N principle training and planning for et income for dentists started stacks up when compared to to decline in response to the “best practice” models an associate are just some of the economic climate in 2007 and areas addressed • An in-depth analysis of the numbers has remained flat since—even though in your practice—from overhead, • Ongoing coaching support for the economy started picking up in 2009, to new patient flow, to hygiene you and your staff through phone and surpassed 2006 levels by 2012. Yet department profitability calls, emails, and webinars here we are in 2015 watching dentists face • A review of existing equipment and • Did we mention this is all at NO FEE an ever-changing and evolving business technology in the practice, as well as a value-added service for environment and finding themselves our Burkhart clients? as forecasts for maintenance working harder with less profitability. Increased competition, overhead, We have helped many practices and PPO participation are through this unique just a few of the challenges offering, and we love that keep dental doing it! It’s rewarding to profits flatlining. uncover small changes On the bright side, that have the capacity our experience to provide big impacts indicates that key for the practices we systems within support. According each practice can to Dr. McManus, be incorporated as published in or modified to Practice Booster, improve the bottom “the ADEA’s 2013 line, even with the survey of graduating —Nelly, Office Manager, Summit Dental Group, Idaho above-mentioned seniors revealed challenges. Enter that, out of 23 distinct Burkhart’s Practice areas of instruction in Support Team—we’re the dental curriculum, here to help level the the student’s perspective playing field, with the was that practice management rest of your Burkhart team! was the second most inadequate topic Burkhart offers complimentary covered. With so much to learn in different • A comprehensive binder “PracticeViews” to doctors that want disciplines, practice management has that details our team’s reports, to explore their practice systems and been on the short end of the stick for recommendations, and resources protocols with the intent of uncovering lost decades.” Burkhart’s Practice Support • One-on-one time with the profits, improving systems, and enhancing Team addresses this deficit by providing professional practice consultant the patient experience. It is part of our practice management tools in a structured, via Skype, FaceTime, or phone commitment to provide an exceptional client comprehensive and written format to experience. Our complimentary support contribute to the success of each individual • Consideration of your philosophy and services are geared to help you reach client we are fortunate to work with. vision, with steps to reach those goals your goals and jump-start that flatline! • Verbal scripting, forms, compliance Read some of the experiences past clients issues, fees and coding, team morale, PracticeView Basics: have reported after completing compensation issues, and business • An overview of how your practice a PracticeView: You and your Burkhart Practice Support team have been helpful, knowledgeable, informative and a great support for our office. 6 // Burkhart dental supply “You and your Burkhart Practice Support team have been helpful, knowledgeable, informative, and a great support for our office. I appreciate our talks and your follow-ups. Thank you! Thank you!” — Nelly, Office Manager, Summit Dental Group, Idaho “The PracticeView analysis of my practice really highlighted some weak points in my practice growth plan. I was completely unaware of how low my fee schedule was and the feedback I received gave me great strategies for adjusting my fee schedule to maximize current and future collections. I was also given valuable insight on some insurance billing strategies that I didn't know. With a few simple changes, we are now able to increase revenue significantly. In addition, the general practice tips I received helped me get new insight on how patients may be experiencing our office and helped me make some necessary changes to create a better work environment for staff. —Dr. Sheila Farahani, San Jose, California The members of the Practice Support Team are passionate about providing resources, tips and tricks, and sound business and best practice guidance— and sometimes an empathetic ear for our doctors that are facing challenges and need a sounding board or a different perspective as they work through problem-solving options. Katey Speegle, one of our Account Managers in Idaho, routinely refers her clients to the Practice Support Team for full PracticeViews as well as help with individual practice challenges: With a few simple changes, we are now able to increase revenue significantlY. —Dr. Sheila Farahani, San Jose, California “I love the PracticeView program. Customers almost always ask how we as a company can provide such a valuable service at no charge. I tell them Burkhart sees the value in helping to build our customers’ practices. It is the right way to do business. In almost every case, the PracticeView program has brought me closer to the client that I have provided this service for. It gives them invaluable information and cements my relationship with them. It also helps me to understand their goals and how I can best support their practice. During a recent PracticeView, I had a customer share they felt the information provided was better than what they had paid another large consulting firm for and was not as ‘cookie-cutter,’ but more customized. Great program!” How to participate: • Contact your Burkhart Account Manager to get started • The Discovery meeting lasts approximately one hour, with an opportunity for you to share your objectives, history, goals, and concerns with the PracticeView team • Specific reports will be requested for a Practice Support Team Member to start an analysis • A second meeting will take place to review the findings and put together action items • It doesn’t stop there—your Account Manager, Equipment Specialist, Service Technician, and Practice Support Team are on board to support those action items through providing resources, staff training, webinars, and ongoing support Team The Burkhart Practice Support Team provides business insight and strategies to Burkhart’s doctors and our branch teams to help our doctors build stronger practices. Whether it is a valuable phone call, a webinar, or a PracticeView, we have the resources to support your practice. CATALYST MAGAZINE // Issue 3, 2015 // 7 PRACTICE MANAGEMENT Thanks for asking Burkhart’s Practice Support Team receives calls and emails every day from offices regarding their business questions and needs. In each issue of Catalyst, we’ll compile some of the most frequently asked questions and share our insight with you. Kathy Edwards, RDH, Margaret Boyce-Cooley and Dana Morano of the Practice Support Team Q.What does a healthy hygiene Department look like? A. A healthy general practice’s hygiene department should have 50-60 percent of their patient base receiving preventative care (1110), 30-40 percent in perio maintenance (4910), and 10-20 percent in active perio therapy (4341, 4342). In addition, 30-35 percent of production should be generated within the hygiene department. In a general practice, 90 percent of the doctor’s restorative schedule is a direct result of diagnosis 4341, made in the hygiene chair. 4342 10% My overhead is perfectly healthy. For all the questions out there, you have a team of experts at your fingertips who can help you through it. From overhead to compliance and beyond, Burkhart's Practice Support team is an email or phone call away—free of charge. Check out our remaining 2015 webinars— now also offered for free! Are You Compliant? HIPAA Awareness Friday, July 17, 2015: 8:00 am PST Monday, July 20, 2015: 3:00 pm or 5:00 pm PST Managing Office & Staff Overhead Friday, September 18, 2015: 8:00 am PST Monday, September 21, 2015: 3:00 pm or 5:00 pm PST Overcoming the Challenge of Failed Appointments Friday, November 13, 2015: 8:00 am PST Monday, November 16, 2015: 3:00 pm or 5:00 pm PST To register, visit our website at burkhartpracticesupport.com or contact Dana Morano at [email protected] 40% 4010 50% 1110 PATIENTS FEE $ 1110 2058 $125 $257,250 4910 401 $175 $70,175 4341-2 50 $215 $10,750 Total 2509 $338,175 Typical hygiene production in a healthy 2,500 patient-base practice Typically, RDH staffing is determined based on the following formula: one hygiene day per week for every 250-300 patients. That range is determined by the strength of the periodontal program and the scheduling protocol for new patients. A strong perio program reduces the number of patients required per hygienist. Scheduling new patients in the hygiene column for initial assessment rather than the doctor’s column will also reduce the number of patients required for a day of hygiene per week. Ideal Practice Statistics Adult patient base Q.I know the back is running great, but I sometimes lose sight of the front and I’m beginning to think I’m overworking my front office staff. How do I know when it’s time to hire another person up front? PPO plans. Many practices will consider adding a full-time person who can operate as a floater to be shared between the front office and sterilization/assisting. There are several monthly reports you and your front office team member should review on a monthly basis. These include your month-end report; accounts receivable aging report; outstanding insurance claims report; and unsubmitted insurance report. The focus of the review is to enlighten the doctor’s knowledge of the front office progress and provide individual accountability to each staff member’s role in reaching practice goals. 1. Month-End Report – Evaluates how close you were to production and collection goals. A. A single front office staff member will start to feel challenged when production reaches a steady $75$80K per month. On average, when practices start producing in that range, a part-time person should be considered. The production range could be as low as $65$70K/month if you have a high new patient flow (it takes more time to enter new patients into your system, transfer records, etc.) or you participate in five or more 2. Is Accounts Receivable (AR) staying within ten percent of the total AR? AR over 90 days and outstanding insurance claims reports are worked together. It is important to know if there are system challenges that are creating outstanding or denied insurance claims versus uncollected patient balances. It is also important for the doctor to know Team www.practicesupportteam.com CATALYST MAGAZINE // Issue 3, 2015 // 9 PRACTICE MANAGEMENT Thanks for which patients are not paying for services. This helps doctor and front office establish guidelines for emergency patients. It is not helpful to the patient to keep adding to their debt load when they are already behind with payments. Financial challenges should also be announced at the morning huddle. This reminds staff members to only provide treatment that has been pre-planned with a signed financial arrangement. Providing treatment without a financial arrangement discussion with the patient leads to future collection challenges. It’s not fair to the patient who may not understand their financial obligation, or to the practice now struggling to collect payment. 3. Unsubmitted Insurance Claims Report – Use this report as a double-check to ensure no claims have fallen through the cracks. I’ve often thought if I were applying for a front office position, I would want to see these reports. They let you know what you are inheriting and whether there are effective asking systems in place. It also allows the front office team member an opportunity to show their value as they either get these numbers into the healthy zone or continue to keep them where they are. Q.I am looking to bring a specialist into my practice to share the space. I want to work out how this relationship will function best since the specialist will bring his own staff and products but will be using my equipment. Is there a list of things I should consider? A. 1. >>continued 4. What does the term “professional ethics” mean to you? 5. How would you characterize your ethics? 6. What are your personal goals (short-term and long-term)? 7. What is your definition of quality dental care? 8. Do you have any interest in a partnership agreement in the future? PLANMECA ProMax 3D Family ® A good resource to check out is Office Sharing for the Dental Practice, by Boyd W. Shepherd, D.D.S., J.D. Here are some questions to ask when bringing someone in to share your practice space: How long are you hoping this arrangement will last? Ø5 x 8cm ProMax 3Ds Ø8 x 8cm ProMax 3D Ø16 x 9cm ProMax 3D Plus Ø20 x 17cm ProMax 3D Mid Ø23 x 26cm ProMax 3D Max Versatile 2D/3D Imaging Technology Exclusive CBCT Ultra-Low Dose imaging protocol reduces patient radiation by an average of 77% without loss of diagnostic quality* Patented SCARA technology, allowing limitless imaging possibilities 2. Why are you interested in leasing space rather than starting your own practice? Offers optional ProFace 3D facial photos for advanced case presentation, operation pre-planning, and treatment follow-up 3. What interests you in having a practice within my practice? Provides the tools to reduce radiation based on clinical need, including Planmeca’s Ultra-low Dose Protocol, adjustable kV and mA, selectable volume sizes, and pediatric mode for a 35% lower dose The Burkhart Practice Support Team provides business insight and strategies to Burkhart’s doctors and our branch teams to help our doctors build stronger practices. Whether it is a valuable phone call, a webinar, or a PracticeView, we have the resources to support your practice. Optional digital impression and cast model scanning available for ProMax 3D, 3D Plus, 3D Mid, and 3D Max Upgradable all-in-one technology Call or email us today for free with your business questions at 800.665.5323 or [email protected] Open-architecture Planmeca Romexis software included Mac and PC compatible *According to “Dosimetry of Orthodontic Diagnostic FOVs Using Low Dose CBCT Protocol,” by J.B. Ludlow and J. Koivisto. For copies of this study, please contact Planmeca USA. Team 10 // Burkhart dental supply To schedule a demo please contact your Burkhart Representative at 800.562.8176 CLINICAL SUCCESS Form Follows Function: A ttractive teeth stay attractive over the years because the form of the dentition fits into the functional envelope of the muscles of mastication and the temporomandibular joints. This includes both functional and parafunctional movements. When you observe a wear pattern in a patient, what you are looking at is a history of the forces of attrition (Figures 1 and 2). When we want to restore a smile to youthful beauty, unless you change the functional environment that caused that wear pattern, it will be recreated. This case illustrates a very common wear pattern where the mesio-incisal of the mandibular cuspids have worn the disto-incisal of the maxillary laterals (Figures 3 and 4). These Class III mandibular cuspids will certainly be a factor in potentially chipping the disto-incisal edges or When we want to restore a smile to youthful beauty, unless you change the functional environment that caused that wear pattern, it will be recreated. 12 // Burkhart dental supply 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Testing the Occlusion Before You Start (Part 1) By Rhys Spoor, DDS, FAGD, Accredited Member of the American Academy of Cosmetic Dentistry debonding newly placed maxillary lateral restorations because most of the time the new smile includes teeth that are slightly straighter, slightly longer, and usually lighter. If the vertical dimension is conservatively opened, restorations can be designed that require fairly minimal reduction of natural tooth structure. This leaves maximal strength for the supporting tooth and enamel surfaces for the most secure bonding (Figure 5). In this case the proposed occlusal position was determined by using a combination of low-frequency TENS (trans-cutaneous neuro stimulation), electromyography, and jaw tracking. There are a variety of ways to get this preliminary position but the this technique for this case made for rapid advancement through the testing phase. A bite registration was taken and diagnostic models mounted to that occlusal position. A minimal diagnostic wax-up was done to level the occlusal plane and maximize intercuspation of the new centric occlusion. Cuspid guiding surfaces were also waxed in. Stints were made over the diagnostic waxups and each was filled with B-1 Zenith Luxatemp. To reinforce the maxillary and mandibular anterior areas, a 2mm wide band of Kerr Connect fiber was bonded to the teeth before placement of the Luxatemp fixed orthotic (Figures 6 and 7). The stint (#6-#11) was placed intra-orally and the Luxatemp allowed to cure for two and a half minutes and then removed. The cured Luxatemp was finished intra-orally with diamond burs and polishing cups before being tinted and glazed (Figures 8, 9, and 10). Even though this was a temporary restoration to test function, by finishing the form to a very refined level the patient had the opportunity to begin evaluating and accepting the aesthetics (Figure 11). The lower arch was then completed (Figure 12) in the same manner. The included teeth were #18-#21, #23#26, and #28-#31 (Figures 13, 14, and 15). Again the goal was to get maximal intercuspation at the new occlusal position but not all of the tooth surfaces had to be included. This supported the philosophy of minimal dentistry to get to the best result. Under the influence of TENS, the occlusion was lightly adjusted and a follow-up appointment about a week later further balanced and refined the occlusion. The great advantage of this approach was the ability to determine an acceptable and tested occlusal scheme before proceeding into the final restorative phase. (Stay tuned for Part 2 in the next issue of Catalyst which will continue to the final restorations.) Dr. Rhys Spoor is a 1983 graduate of the University of Washington where he was an Affiliate Assistant Professor in the Department of Restorative Dentistry for ten years. He is an Accredited Member of the American Academy of Cosmetic Dentistry, a Fellow of the Academy of General Dentistry, the American Dental Implant Association, and the Pierre Fauchard Society. He is also an Editorial Reviewer for the Journal of Cosmetic Dentistry. Dr. Spoor maintains a private practice in Seattle in aesthetic, implant, and restorative dentistry. He may be contacted at [email protected]. Figure 1: Pre-treatment centric occlusion. Figure 2: The wear pattern was a history that can repeat again unless the environment was changed. Figures 3 and 4: Class III mandibular cuspids caused the severe wear of the distoincisal edge of the maxillary laterals. Figure 5: Maintaining enamel lends to strength and longevity of the final restorations. Figure 6 and 7: Kerr Connect fiber placed for reinforcement fixed orthotic. Figure 8, 9, and 10: Completed Luxatemp fixed orthotic #6-#11. Figure 11: Even though this was temporary, a refined restoration can be used to evaluate and gain acceptance of the aesthetics. Figure 12: Mandibular incisors were etched for attachment of Connect fiber and fixed orthotic. Figures 13, 14, and 15: The new occlusal position to be tested was adjusted to maximal intercuspation. CATALYST MAGAZINE // Issue 3, 2015 // 13 Your HANDPIECES are an important part of your practice. HANDPIECE REPAIR Keep them well cared for with the Burkhart Handpiece Repair Center > Turbine Replacement The Burkhart Handpiece Repair Center Turbine Replacement service includes labor, testing, new turbine, o-rings and washers (as needed) > Professional & Dependable Your handpiece will be taken care of promptly and normally completed within 1-2 business days Contact the Handpiece Repair Center to learn more today! 877.311.3856 | www.burkhartdental.com With an unprecedented 26W of air-powered torque, you’ll experience a level of smoothness, consistency and comfort not available until now – and shorter treatment times. Its top speed is matched by top features, like a strong, lightweight, pure titanium body with DURAGRIP® coating. An optimized ergonomic design for more leverage and less fatigue. And a new cartridge design and bearings that dramatically improve durability. Experience the power of 26W with a FREE TRIAL! Most power. Longest Warranty. Ti-Max Z900L* 26W 30-mo. warranty* 23W 24-mo. warranty1 KaVo M8900 L1 W&H Synea 500 Series TK-98L 2 *Internal data 21W 24-mo. warranty 2 1. As listed at http://www.kavousa.com. Warranty extends to 30 months, if maintained in a KaVo QUATTROcare Plus. 2. As listed at http://us-a-dec.com SPECIAL OFFER Details at: www.NSKDental.us FREE TRIAL NSK instruments are available from: Details at: NSK Dental LLC www.NSKDental.us 1800 Global Parkway • Hoffman Estates, IL 60192 USA • Tel. (888) 675-1675 NSK_Z900LTurbine_Burkhart_half_7.875x4.825.indd 1 14 // Burkhart dental supply www.NSKDental.us © NSK 2015. All rights reserved. 5/19/15 2:31 PM The 1970s called, they want their wall-mount back! ©2015 Aribex, Inc. NOMAD is a registered trademark of Aribex, Inc. Regulatory requirements can vary in every jurisdiction. Please check with your local authorities or Aribex for any necessary radiation authority approvals needed to operate NOMAD Pro 2 in a particular region. For indications for use, please visit www.aribex.com/ifu. ND0003/B 04.15 Ti-Max® Z900L Air Turbine Intraoral X-Rays have evolved, and so should you! No clunky, drifting wall-mounted units, fewer retakes, and a more efficient workflow so you can spend your time where it matters most — with your patients. Can you dig it? With the NOMAD Pro 2™ handheld X-Ray device you can do just that and experience: FA S T E R W O R K F L O W S — Stop walking back and forth and start spending more time with your patients. M O R E F L E X I B I L I T Y — Move freely from operatory to operatory with this lightweight, handheld device. M O R E U P T I M E — Ready to use the moment you open the box — no installation, no rearranging office space and no walls required. · H A N D H E L D X - R AY S Y S T E M · For a FREE Trial go to: TryNOMAD.com 1.866.340.5522 · See what the NOMAD can do for your practice! · Can you dig it? ENJOYING THE aDVENTURE dR. mATTHEW wIMMER'S ROAD TO A SUCCESSFUL PRACTICE IN dENVER BY ELAINE DUNN | PHOTOS BY SEAN HOLVECK D r. Matthew Wimmer’s interest in dentistry developed while he was still in high school and working part-time as a lab technician for his orthodontist. Like many teenagers, he had to have braces for several years so he had some firsthand experience. After high school, Dr. Wimmer moved from his home in New Jersey to Milwaukee, Wisconsin, where he completed his undergraduate studies in Biomedical Engineering at Marquette University in 2004. Then he moved to Boston, Massachusetts, to attend dental school at Tufts University. After graduating, he completed a one-year oral and maxillofacial surgical residency in Detroit, Michigan, with the Veterans Hospital. >> me r w a s Dr. Wim 0 e of 5 2 8 voted on i n e 's M ag a z n t i st s Top De ! i n 2015 CATALYST MAGAZINE // Issue 3, 2015 // 17 FEATURE: Dr. Matthew Wimmer Dr. Wimmer traveled to Denver, Colorado, for vacation and to visit his brother. While there he enjoyed skiing, cycling, and climbing. He decided that, with his brother living in Denver and his parents in Arizona, moving to Denver would allow him to be closer to his family. The lifestyle seemed a perfect match for his interests—so he decided to move across the country and purchase the practice in July of 2012. Redesign, efficiency and use of space were at the top of his list. Dr. Wimmer’s practice is in a great location—a freestanding building on the corner of a very busy intersection. Inside the building there was a lot of room for improvement as the equipment was aging and the space was not as efficiently. As he thought about redesign, efficiency and use of space were at the top of his list. Dr. Wimmer said that Equipment Specialist Paul Trehus was “instrumental in getting the project done and was always there if I had a question.” He was extremely pleased with the contractor Paul recommended for the project, Jo Temmer with North Star Construction Services. Dr. Wimmer has partnered with Burkhart for about two years and enjoys working with Account Manager Greg Castro. When referring to Greg, Dr. Wimmer said, “He is very personable and has done some great things for us.” Some of the most impactful changes with the remodel included going digital and adding a cone beam unit. Dr. Wimmer is pleased with the improved image quality and how it has helped with the team’s diagnostic skills. The practice now boasts four operatories, and Dr. Wimmer is thinking about growing the practice in the future, possibly expanding into specialty dentistry. Dr. Wimmer is an avid cyclist and has become more dedicated to the sport since moving to Colorado, and reconnecting with a high school buddy who had also moved to Denver. His friend asked if he’d ever raced before, and Dr. Wimmer decided to give it a try. Last year he joined a local team, “Devout Racing,” and now races cross country mountain bikes and Cyclocross. This year, the office sponsored the teams and the office logo was displayed on the team jerseys. Dr. Wimmer credits his team with making the practice successful. Many of his team members have been with the practice for a number of years, including Rosemary who has been there for about 30 years. She has seen some of the patients, now adults, since they were children. Dr. Wimmer recently hired a new associate, Dr. Laura Benesh, as his schedule was becoming extremely busy. When thinking about the kind of individual to hire, Dr. Wimmer knew he wanted someone who was outgoing, had good experience, and who would be a positive addition to the existing team. Dr. Benesh grew up in Wisconsin where she attended the University of Wisconsin-Eau Claire and earned her undergraduate degree in Marine ow in r is a Fell ress e m im W Dr. C o ng nationa l r te n I a nd e h t ntolog ists us la p m I f o io e r of v a r a mem b loca l denta l a nd e s. nationa l a l societi n io s s fe pr o Rosemary Condit and Candy Fik with a patient 18 // Burkhart dental supply FEATURE: Dr. Matthew Wimmer PICTURED (front): Rosemary Condit (Dental Assistant), Candy Fik (Hygienist), Lisa Jenkins (Receptionist) (back): Dr. Laura Benesh, Michelle Taylor (Office Manager), Dr. Matthew Wimmer Biology. After graduating from Marquette University dental school, she accepted a residency program in Cincinnati, Ohio, then asked to stay on as a staff dentist. After four years there, she had the opportunity to work at a small practice in a rural community, an experience she loved. Next, Dr. Benesh joined the Army Reserve and was mobilized to Texas. After several years in Texas, she started looking for something new. She had friends in Denver, so she decided to move there. She interviewed at several offices and was pleased when she got the call from Dr. Wimmer with a job offer. She felt that her personality was a good fit with his team. They take what they do seriously, but like to have fun, too. all Colorado has to offer. Her proudest accomplishment so far is becoming a dentist—especially earning the patients’ trust and helping them overcome nervousness and achieve a positive outcome. When asked what advice she would give to a fourth-year student, Dr. Benesh said, “keep an open mind, do a residency program, see what there is to see, and learn as much as you can.” Dr. Wimmer and his team members clearly share a passion for dentistry and a similar approach to patient care. They involve patients in their treatment plan and explain to them why things need to be done. They take what they do seriously, but like to have fun, too. When asked about what differentiates the practice, Dr. Wimmer said, “We want the best for our patients and treat them like family. We want to see them improve their oral health and want to help them in any way we can.” In her free time, Dr. Benesh enjoys skiing, hiking, CrossFit workouts, and exploring Dr. Laura Benesh is a great positive addition to the team. 20 // Burkhart dental supply Supply savings guarantee: CREATING A PARTNERSHIP D r. Skip Pierce graduated from University of Washington Dental school in 1974 and opened his dental practice in the same year. Since then, Dr. Carson Mooney, Dr. Robert Studebaker, and Dr. Lance Ritchie have joined the practice. Although the name of the practice has changed since Dr. Pierce first opened, the exceptional care they provide is still the same. Nelly Gomez, Office Manager, sat down with Derek Johnson, Burkhart Branch Manager, to share their experience with the Supply Savings Guarantee. What was it that made you want to work with Burkhart? What part of the SSG do you find most valuable to you and your practice? In 2012 we were building a new office, and Burkhart asked if they could be part of the bidding process. We were extremely impressed with Burkhart's attention to detail and their team, and decided to go with Burkhart even though we didn’t have much of a history with them. Our expectations were exceeded while working with John Elliott, Equipment Specialist, and Chad Alger, Service Technician, with both our new equipment needs and with the move of our existing equipment. Even though we were impressed with our experience we decided to keep our merchandise business with the current supplier we had used for almost 30 years. The quarterly business review meetings— we like to know where we are with our numbers. Katey also presents less expensive product options that meet our clinical standard. How does your Burkhart Account manager help you reach your goals as a dentist and business owner? Shortly after we started on the SSG, Katey presented PracticeView. We were reluctant at first because we had used well-known national consultants in the past but didn’t see much of a return on investment. We decided to go through Between rebate checks, free goods, and inventory control, she is looking out for our best interestS. What was it about the guarantee that originally caught your attention? Saving money was intriguing but it was Account Manager Katey Speegle’s vision that sold us. She explained how she approaches business with her clients and that she views it as a partnership. She spent time on how much money we could save and how she would do this. This was very different from what we experienced with our other suppliers. 22 // Burkhart dental supply PracticeView because there was no cost and we were hopeful we would get insight on some areas of concern. Not only were we amazed with the initial information and direction we were provided, Practice Support Team’s on-going support has been greatly beneficial to our practice. This is another example to us of how Burkhart Dental is a partner in the success of our business. Pictured (left to right): Nelly Gomez (Office Manager), Dr. Robert Studebaker, Dr. Skip Pierce, Dr. Carson Mooney, Katey Speegle (Burkhart Account Manager) Derek Johnson (Burkhart Branch Manager), Chad Alger (Burkhart Service Technician), John Elliott (Burkhart Equipment Specialist). Not Pictured: Dr. Lance Ritchie How has the SSG helped your business? First and foremost, it has saved us money by lowering our overhead dental percent. It has also added a level of transparency and accountability to our merchandise ordering. How has the SSG helped your staff be more efficient? Katey is very organized and has implemented new systems for ordering supplies. This has kept our inventory to a minimum. What would you say to a doctor considering the SSG program? Take a chance and do it. You have nothing to lose. It started with just the numbers but we have benefited in so many other areas. Do you have any final thoughts? Partnership. Katey is part of the staff. She cares about our practice’s success. Between rebate checks, free goods, and inventory control, she is looking out for our best interests. We trust her decisions are for our benefit and not for her benefit. Do you need to control SUPPLY overhead in your practice? Our unique Supply Savings Guarantee can help you keep your supply overhead low! > Your Burkhart Account Manager can: - Identify & recommend products that deliver the best value - Carefully manage inventory - Take advantage of manufacturer coupons & specials Contact your Burkhart Account Manager to learn more today! 800.562.8176 www.burkhartdental.com GIVING BACK Anchored in San Pedro La Laguna by anne baer photos provided by Dr. Biederman and Proyecto Fe International T owering, jungle-draped volcanoes overshadow the lakeshore town of San Pedro La Laguna, which sits at over 5200 feet and is home to Guatemalans of predominantly Mayan descent. In the heart of the town rests the school where Alaskan businessman Joe LoMonaco first encountered a pastor and his wife who dedicated their lives to changing their community through education. Twenty years ago, the duo laid the foundation for the school, slowly building and expanding on their dream. Inspired by both the deep poverty of the locals and humbled by the great faith of the school organizers, LoMonaco eventually founded Proyecto Fe International, which now sponsors anywhere between 275 to 300 students. A health clinic affiliated with the school flourishes, finally ready after ten years— except for one essential element: dental volunteers. Good thing LoMonaco had 24 // Burkhart dental supply shared his travels with his dentist, Dr. Paul Biederman, back in Anchorage. Dr. Biederman, a general dentist who after 30 years recently transitioned from owner CATALYST MAGAZINE // Issue 3, 2015 // 25 GIVING BACK ARE YOUR SENSORS MAKING PATIENTS SAD OR HAPPY? 3 STEPS TO HAPPINESS The town readily greets the volunteers with smiling faces. Arriving by boat is the least arduous way to reach the city. to associate, was ready for a new challenge and was stirred to share his faith in an active way. “I was inspired by what Joe would tell me about the kids he sponsored in San Pedro and the desperate need for dental care,” Dr. Biederman recounts. “But it was also a chance for me to help transform the lives of these people, in addition to offering my heart.” When he finally accompanied LoMonaco, Dr. Biederman was completely blown away by his own transformation. Dr. Biederman states, “I thought I was the one who was going there to give something—my skills as a dentist and help in relieving suffering. That did happen as the need for dental care is 1 massive, particularly with the children, but I was the one who came back changed. My time there was transforming.” Another Anchorage contact, Dr. Mark Keller, accompanied Dr. Biederman on that first visit. As a pedodontist, Dr. Keller was bowled over by the sheer number of children with issues to be relieved and the kids’ response. “The kids are so happy when we help them. They have been in such pain, laying their faces on the cold concrete floor to get relief. It’s not so much that your heart is broken, but that your heart is broken open. We are superheroes to these kids, taking away the pain and providing them a future.” Dr. Keller goes on to explain what happened for him while in Guatemala. “People will say, ‘Wow, you guys did a lot,’ but I feel like I got a lot more than I gave. You are basically given a lesson in loving people by this culture.” PLACE YOUR SENSOR HERE Smooth comfort corners Compact sensor design Thin, unobtrusive cord Child Sensor Actual Size 2 Trade-up from your old digital sensors to the comfort of Gendex GXS-700 digital sensors today: 1-888-339-4750 | go.gendex.com/happiness 3 Comfortable Imaging = Happy Patients © 2014 Gendex Dental Systems, GX01610414/B 26 // Burkhart dental supply Compare your sensor: Adult Sensor Actual Size Best Product 2014 by Dental Product Shopper: Gendex GXS-700™ Digital Sensors GIVING BACK The World’s Smartest Air Compressor LEARN MORE Additional information about Proyecto Fe International can be found at its Facebook page: www.facebook.com/ ProyectoFe or its website at www.proyectofe.co. At this stage, trips are typically organized twice a year, in April and October. No dental experience is necessary to join a team. Digital pressure display with cut-in/cut-out setting Continuous voltage and temperature monitoring Dr. Keller’s comments reflect what LoMonaco found in San Pedro La Laguna during his initial visits. He was introduced to a people who harbored a deep-seated sense of low self-regard and, therefore, had no faith their lives could be changed. With a corrupt government, the native Mayan descendants are often “low man on the totem pole” when it comes time to provide healthcare or any basic necessity to the population. “We are changing the culture via education. The locals have always known poverty 28 // Burkhart dental supply and don’t historically value good health, particularly dental health,” LoMonaco explains. “We are showing them that good health can transform lives.” Encouraged by the efforts at the school clinic, Dr. Biederman recently expanded his dental reach. On his last visit, Dr. Biederman asked permission to venture into the surrounding remote mountain villages and came away with another goal: mobile dental vans, fully self-contained so he can offer relief as well as initiate change beyond the border of San Pedro. Dr. Biederman invites everyone to be part of the change. “You can make a difference, regardless of your skill set. You will leave having given so much more than a healthy mouth. You’ll come away a new person for having shared hope.” Easy to navigate diagnostic settings menu Compact design and intelligent controls for trouble-free performance • NEW digital touch screen display allows easy accessibility to user settings and setup controls from any room • Worry free preventative maintenance system keeps office staff informed with smart alarms • Continuous system monitoring delivers unprecendented diagnostic control • Connects to your front desk with NEO Pulse monitoring software provided by Air Techniques • Membrane dryer with quadruple filtering delivers clean, dry air • 5-year/5000-hour warranty To order, please contact your local Burkhart Dental representative. For more information, visit www.airtechniques.com A woman waiting in line to see the doctor shows her beautiful henna design. CATALYST MAGAZINE // Issue 3, 2015 // 29 advertisement Raising the bar TECHNOLOGY An Electric Relationship with KaVo By Christopher C. LeCuyer, DDS M any changes occur during the course of a 30-year practice. But, as a clinician, I want certain important things to stay the same. As a general dentist, my handpiece is an extension of my own hand. It is for that reason, and many others, that my handpieces are always KaVo. When I first started my Seattle-based practice, I used another brand, but switched to KaVo air turbines very early because of the improved torque. Now I use KaVo electric handpieces high speed/low speed for a variety of reasons. KaVo air-driven handpieces are dependable, and they are still used in our hygiene areas. Electric handpieces are used in restorative areas because of the improved torque and quietness. Having electric handpieces impacts my ability to practice more effectively. Electric handpieces run at a more consistent torque, so I can be more efficient, tooth preparations can be more precise, and I can perform dental procedures more quickly. I can run the handpiece at my preferred RPM, and it won’t slow down due to the air turbine being bogged down with the increased load. Also, KaVo has noted that the higher, more constant torque can also reduce a dentist’s wrist and hand stress. I always appreciate that. Another greatly appreciated aspect of the electric handpiece is the noise reduction. The office is much quieter without the high speed whine of an air turbine. The new brushless motor was a very helpful development. We have not experienced any maintenance issues at all since the handpieces became brushless. Before that, the brushes would have to be replaced periodically. When the handpieces do require factory modifications, upgrades, or repairs, they are returned in a timely manner at a fair cost. With eight operatories in our office, we currently have about ten KaVo handpieces, enough to keep us on schedule with patients while some handpieces are sterilizing. But, our practice is still evolving and expanding, and our KaVo handpiece collection is growing along with us. I am excited to say that we are building two new operatories and will soon add two of the latest model KaVo electric handpieces. The KaVo Master Series has a unique gear system, is quiet and has lowvibration, and is extremely durable. It has a 1:5 transmission for the highest power on the tooth and a maximum operating speed of 200,000 rpm. This will allow me to be more productive and makes dentistry much easier. All of these solid, well-built, dependable, and durable handpieces need maintenance, just like any other handpiece, and for that we use the KaVo QUATTROcare Plus. According to KaVo, more than 70 percent of all handpiece failures are due to insufficient maintenance. For this reason, we religiously use the QUATTROcare Plus Introducing KaVo MASTERmaticTM Small Yet Powerful. system per manufacturer’s directions every time we use handpieces. It is consistent, efficient, and can accommodate up to four handpieces in one cycle. It automatically cleans, purges, and lubricates the handpiece, and all the assistant has to do is push a button! The programming of this unit is flexible, as we can choose and set the total cycle time from 15-40 seconds per handpiece. I believe this is one of the reasons why we have had virtually no maintenance problems with our handpieces. Sterilizing is hard on handpieces, so this is a welcome way to eliminate mishandling or insufficient care or maintenance. Over the years, as a KaVo customer, I have received phenomenal customer service. Burkhart Equipment Representative Steve Stimson and I have worked together for 25 years. He first recommended that I explore Kavo handpieces back in the 1980s, and I purchased them on his recommendation. Years later, he and I discussed the solid, well-built electric handpiece, and he piqued my interest. He brought over a demo; I tried it, and loved it. I appreciate that he does his research very efficiently, so when he recommends a product, it is usually a winner. Having an electric handpiece from KaVo is like driving a Tesla — nice and smooth. Want to try a test drive? KaVo has a program called TryKaVo.com that allows dentists to try their handpieces free of charge for five days. You can just select a handpiece from the website, try it, and return it, or if you like it like I do, buy it! This is a great way to try out these handpieces that I consider the best on the market for operation, reliability and low maintenance. KaVo MASTERmatic Series Introducing KaVo‘s MASTERmatic LUX M25 L and MASTERmatic LUX M05 L Mini electric attachments. Our latest innovation now features KaVo‘s smallest head, which is up to 43% smaller*. Our newest generation handpieces offer the smallest head size for best access and visibility, all with the same power. KaVo MASTERmatic LUX M05 L Mini KaVo MASTERmatic LUX M25 L Go to TryKaVo.com to start your free and easy trial today! *Compared to GENTLEpower 25LPR TM 30 // Burkhart dental supply ©2015 KaVo Dental Corporation. 1.011.3908/ rev01/ 06.15 OFFICE DESIGN the TANGIBLES and intangibles g OF A SUCCESSFUL OFFICE DESIGN ood dental practices should be designed and developed with both tangible and intangible qualities in mind. Certainly, the best equipment, merchandise and ambiance are critical in delivering the best clinical care. Nevertheless, a true desire to serve and care for both client and patient, an unrelenting pursuit of knowledge and experience and a determination to deliver the highest quality care are equally detrimental to a successful office design. Prosper Dental Health in Prosper, Texas, offers a perfect example. By Russ Cornelius photos by Roger Hein For eight years, Dr. Marisol Trautman lived in Prosper and dreamed of opening her own dental practice there. After being introduced to Dr. Bill Gerlach, they soon realized they shared the same vision and became business partners. Dr. Gerlach already had plans in the works, and both doctors even had the same location in mind. They consulted with Burkhart Account Manager Karen Glessner, who brought in Equipment Specialist Stephan Nugent and together put into action the plans for Prosper Dental Health. Dr. Gerlach: My background in dentistry actually started way back in high school. I knew little about it—I had always been blessed with good oral health—but one of my counselors asked me what I wanted to do with my life and I didn’t really know. Play baseball perhaps? He linked me up with an orthodontist, I spent the day with him, and that was it. From there I went on to Northwestern University where they have a program in the engineering department for biomedical engineering that is a seven-year B.S. DDS—three years in undergrad and then four years in the dental program. I did the three years in undergrad, but then went on to Baylor Dental School where I met my wife, who is also a dentist. I started as an associate in 1987 and had my first office as a solo practitioner in 1990. I’ve been in many locations as the practice has grown, and along the way I enjoyed dentistry more and more as it was delivered in a comprehensive manner. To me, doing all the aspects of dentistry myself, in my office, was a disservice to my patients. I felt the best thing I could do for my patients was to focus on preventative and restorative care and let the other talented specialists in the area do what they do. For the last 15 years, we’ve worked entirely in a comprehensive model. Dr. Trautman: Unlike Dr. Gerlach, I had to go to the dentist a lot growing up. My first 32 // Burkhart dental supply CATALYST MAGAZINE // Issue 3, 2015 // 33 OFFICE DESIGN OFFICE DESIGN Just take really good care of people, and the rest is going to be just fine. – Dr. Gerlach visit was at four years old, in Costa Rica where I was born and raised. My pediatric dentist was wonderful. So I decided at four that I was going to be a dentist. I saw him a lot and he started showing me his interesting cases through the years. When the time came to choose what to do, it was very easy for me. Costa Rica is very different from here, because even though it’s a seven- to eight-year program, you are attached to the dental school the whole time. You are taking dental anatomy in year one. I graduated in 1991 and in Costa Rica you have to work for the government for a year. You can either go to the hospital to see adults, or you go with the Ministry of Health and work on a mobile unit serving school-age children, which is what I did for a year. But, at the same time, we opened a dental office of our own—so we worked from 7 a.m. to 3:30 p.m. with the children and 4:30 to 9 p.m. in a private office. We did that because we wanted to come to the United States. At the same time, I wanted to learn more. So I sent off a bunch of applications and planned a trip. I went to the schools the day after the applications were received and met with them and was lucky enough to get in at Ohio State University. I had four cousins there at the time, and it was a lot of fun having family in town. I graduated from there in 1997, but I couldn’t work in the U.S. However, I could teach, so I applied for teaching jobs. I got into Baylor as a teacher in the AEGD program. The timing was great because they were going through accreditation, and having a specialist in prosthodontics was really great for them. I knocked on the door at the right time. After that my family and I went back to Costa Rica so I could start a practice from scratch. I wanted to be a multi-specialty practice so we had a periodontist, an orthodontist, an endodontist, a general dentist, and me. But I missed the States. I had become an American in those six years, and my kids were born here, so we sold the Costa Rica practice after four years. That practice is now one of the biggest practices for dental tourism in Costa Rica. We came back to the U.S. in 2004 and I took a break from dentistry that was supposed to last two years, but it turned into four. During that time I had my third son, and I loved being a stay-at-home mom for a while. I got back into dentistry in 2008, and by 2014 I had decided I wanted my own practice again. 34 // Burkhart dental supply CATALYST MAGAZINE // Issue 3, 2015 // 35 OFFICE DESIGN Before Dr. Trautman and Dr. Gerlach had even met, Dr. Gerlach was working on a business plan to replicate the success he had at another location. The key tenets were to have a high-quality practitioner and practice in an area with a high potential for quality referrals. The city of Prosper fit the bill for a location due to the high-quality specialists in the area and the potential for growth. Dr. Gerlach decided the area had room for high-quality restorative care that utilizes the highly trained specialists nearby. Those specialists agreed. The business plan was complete except for the dentist. That all changed when Dr. Gerlach was introduced to Dr. Trautman through a transition specialist. Every time we needed something, Burkhart was there for us. Each person in each department really did a good job. – Dr. Trautman 36 // Burkhart dental supply Dr. Trautman had already lived in Prosper for eight years, and happened to be looking for a practice to buy into. It was a perfect fit for the plan Dr. Gerlach had put together. “From the initial meeting with Dr. Trautman, it has all been water flowing downhill. This was really meant to be.” The fact that Dr. Trautman was from Prosper has been very important to their success. CATALYST MAGAZINE // Issue 3, 2015 // 37 OFFICE DESIGN The connections she had made as a person, not a dentist, proved invaluable. Some advice they had been given was to “make sure you are in the parade.” So, they did just that. Literally. Before the practice was even open, they created a float and joined the homecoming parade. Now that the final piece was in place, plans for the new practice were ready to move forward. Dr. Gerlach had a relationship with Burkhart account manager Karen Glessner for several years, so they turned to the Burkhart team for office design and equipment selection. Equipment Specialist Stephan Nugent guided Dr. Trautman through the selection process and consulted with her regarding her options. Together they spent time at the Burkhart office looking at chairs and cabinetry. Ultimately, they decided on A-dec for their core equipment. A team approach involving both doctors and the entire Burkhart team made for a smooth process. Pictured: Stephan Nugent (Burkhart Equipment Specialist), Tracy Madden (Office Manager), Dr. Bill Gerlach, Dr. Marisol Trautmann, Karen Glessner (Burkhart Account Manager), Izabela Zaleski (Registered Dental Assistant) 38 // Burkhart dental supply Once the practice was built, the perfect team was put together. The goal was to create a team that allows patients to become familiar with the staff and have a relationship with them as well. Isabelle moved over from another practice to become the dental assistant. The hygienist, Tammy, is the daughter of one of Dr. Trautman’s former patients. Tracey, the office manager, actually approached them about joining the team after working on their website for them. It is evident that the family approach has paid off. The team works in perfect harmony and the future looks bright for Prosper Dental Health. The relationship-building, family-style approach is a perfect fit for the local community— and for a prosperous future as well. C M Y CM MY CY CMY K WEALTH MANAGEMENT WEALTH MANAGEMENT tune of $3,000 for an income tax savings of $990 and a Medicare tax savings of $114. The excess is carried over to the following year where it will first offset any gains and otherwise be deducted in the same fashion against ordinary income resulting in similar savings. DEATH AND TAXES: Focus On What You Can Control PART II by Sam Martin, MBA (Tax), CFP®, CPA This article is Part II of ‘Focus On What You Can Control.’ Read about Part I in Catalyst Q2 2015. there are insufficient funds to hold all of your bonds in tax-deferred accounts. T Locate tax-efficient asset classes to your taxable account. Generally, this will consist of equity (stock) asset classes. However, not all funds or strategies are created equally. Actively managed funds which buy and sell frequently AX-MANAGING YOUR PORTFOLIO— TOOLS OF THE TRADE 1. Income Tax Location: If you have both taxable accounts and tax-deferred accounts, you have an opportunity to increase your after-tax return by simply determining where various asset classes should be located. By utilizing the tax-deferred or tax-free accounts to place tax-inefficient assets, you avoid paying ongoing income and healthcare taxes. Inefficient assets classes include fixed income (bonds, bond funds, CDs, etc.), real estate (REITs), and commodities. These all pay out ordinary income that would be taxed at your marginal income tax bracket if held in your taxable account. Further, couples making more than $250,000 and single filers making more than $200,000 are subject to an additional 3.8 percent Medicare tax on investment income under the Affordable Care Act. You might say, “But I could put taxfree municipal bonds in my taxable accounts, and they would not be subject to income or the 3.8 percent Medicare tax.” True, but tax-free municipal bonds pay significantly less than their taxable equivalents. In fact, on average, taxfree municipal bonds trail their taxable counterparts by 30 percent or more. Consequently, individuals should only own tax-free municipal bonds if they are very high-bracket taxpayers and if 40 // Burkhart dental supply Face it: taxes bite. Anything you can reasonably do to reduce taxes is a good thing. in order to attempt to pick mispriced stocks and/or to time the market are extremely tax-inefficient, as well as more costly due to the frequency of trading. preponderance of peer-reviewed research (which includes Nobel Prize-winning foundational principles), you know that it’s not necessary nor in your best interest to invest in actively managed funds or individual securities. Rather, you will use index or asset class funds that are very low cost and tend to have very low turnover (i.e., very little buying and selling and therefore very low taxable income). To further increase portfolio tax efficiency you can utilize tax-managed funds where available. The manager of a tax-managed fund goes to great lengths to avoid taxes–especially the short-term gains that are taxed at your highest marginal tax bracket (plus 3.8 percent Medicare tax if applicable). Oh, and asset location is important for estate planning also. The federal (and perhaps your state) government looks at $5,000,000 in your IRA or your taxable account in the same way for estate tax purposes. However, if you hold the appreciating assets in your IRA, your heirs will end up paying ordinary income tax on that appreciation. If the appreciating assets (at least those that are income-tax efficient) are held in your taxable account, your heirs receive a “step-up” in income tax basis and pay no tax on the applicable appreciation. 2. Tax Loss Harvesting: The vast Alternatively, if you have taken the time to study evidence-based investing and the majority of Wall Street firms and mutual funds ignore income taxes on individual investors. Why? Too much trouble. Some advisors will take a peek at your portfolio in November or December and perhaps recommend selling a loss position or two to offset gains taken earlier in the year. In our case, we believe that Tax Loss Harvesting is a 365 days per year activity. Tax Loss Harvesting is the process by which you purposely sell a loss position in your taxable account in order to make the loss deductible, regardless of whether you have capital gains to offset. A capital loss first offsets any capital gains and then you can deduct up to $3,000 per year against ordinary income. Let’s say a dentist in the 33 percent tax bracket takes a $10,000 capital loss in her taxable account and that dentist had taken a $4,000 capital gain earlier in the year. The $10,000 loss will first offset the $4,000 gain leaving a $6,000 loss. That offsets taxable income to the Federal income tax law includes the “Wash Sale Rule.” This rule disallows the loss on the sale of a fund or security if you purchase the same asset within 30 days before or after the sale. This rule might give you pause if you felt being out of the market for 30 days might be more risky than the value of taking the loss. However, the law only forbids purchasing a “substantially identical” security or fund. Consequently, you simply replace the loss position with another fund that represents the same asset class. This way you do not have to be out of the market at all and your portfolio allocation is maintained–yet you still obtain the benefit of the loss. Beyond the current savings a tax loss may provide, banking long-term capital losses can be very valuable. For example, let’s say we implemented a portfolio a few months ago including a $100,000 investment in the Large US Value Fund. Today, we find that the value of that fund has dropped to $90,000. We have a paper loss of $10,000. What is our expectation if we do not harvest the loss? The expectation is that over time the fund will appreciate not only back to its $100,000 but also well beyond. If we take the loss when it is $10,000 and replace the fund with a similar fund our expectation is exactly the same; however, we obtain the tax loss and related savings. Eventually, you will have capital gains that you will need to take. If you own a practice or rental property you will eventually sell such assets, and having banked capital loss carry-over will reduce the tax owed at sale. Even if you do not have such assets you will eventually liquidate small portions of your appreciated investments to create cash flow during retirement. It is very nice to have a bank of losses to offset such gains. 3. There are a number of other tax management techniques, including avoidance of short-term gains, utilizing specific lot identification when selling a portion of a position, utilizing taxmanaged funds where available, being sensitive to mutual fund distribution dates, and maximizing the advantages when charitable giving opportunities are desired—among others. Even if you have only or mostly taxdeferred investments there is still substantial tax planning to consider: Roth conversions, indirect Roth contributions, and ultimately how to best manage the taxable income you will incur in your withdrawals phase. We will devote a future article to planning during retirement—but investment tax planning before and during the withdrawal phase remain equally important. CONCLUSION Face it: taxes bite. Anything you can reasonably do to reduce taxes (that is otherwise in your best interest) and/ or optimize after-tax returns is a good thing and something over which you have a certain amount of control. Keeping unnecessary taxes out of the hands of the government, along with a strong cup of French Roast, is what gets me out of bed in the morning. CATALYST MAGAZINE // Issue 3, 2015 // 41 HELPING DENTISTS REAC EI OALS TAX PLANNING AND DVISORY ERVICES OS EGREGAION PRACICE PURCHASE AND TRANSIIONS RAEGIC BUSINESS PLANNING PRACICE MANAGEEN AND LINICAL ERAIONS PRACICE ALUAIONS ORORAE, PARNERSHI, AND NDIVIDUAL TAX PREARAION EIREEN PLANNING WEALH MANAGEEN C M www.aktadvisors.com Y CM MY There Is No Substitute For Dental Experience and Financial Expertise... CY CMY K DentalGroup LLC Dental Practice Advisors The Dentist’s CPA (425) 216-1612 SM SM [email protected] Integrated Financial Services to Enhance Your Income and Quality of Life Members www.adcpa.org 42 // Burkhart dental supply BUSINESS OF DENTISTRY BUSINESS OF DENTISTRY the surrounding neighborhoods stable or transitory? Are new housing developments in the works? How much competition do you face? Do you have a competitor that is ready to retire and you could purchase their practice? Are You Thinking of Adding an Associate? by Megan Urban (Consultant), AKT ADVISORS other considerations necessary when bringing on an associate dentist. a strategy for business transition that makes sense for your patients and your financial future. Having an associate with skin in the game allows you a couple of years to potentially slow down, save more money, add extended hours for your patients, and prepare the associate to improve skills and gain business management knowledge before taking over the practice. Are you Ready? Whether you’ve been thinking about bringing another dentist into the practice or not, there are a few signs that suggest it’s time to give expansion some serious thought: W hat should you do when your skill, hard work, and passion have resulted in a successful practice? There are many experts that claim the only way for you to make more money is to add an associate. While that can be true, some have leapt at the opportunity to grow revenue by adding an associate and (perhaps) opening another office, often with disappointing results. Unlike the “field of dreams,” they built out their practice but the patients didn’t come. Or they added an associate and their income dropped. This article helps practitioners look before they leap by identifying the following: early indicators for expansion, key factors that impact financial performance, and 44 // Burkhart dental supply • You are scheduling new patients out more than several days. • You aren’t able to keep pace with periodic exams for your hygiene patients. • You aren’t able to perform treatment for patients in a timely fashion or may not have availability for your patients’ referrals. Both result in a loss for your dental practice. • • • Your patients and/or team have let you know your quality of service is slipping and they are stressed out. You are working longer hours and/ or more days per week than you’d like, leaving you in bad health, physically and emotionally, and short on family or fun time. You are contemplating retirement in the not-too-distant future and need Ideally, you’ll catch a glimpse of one or more of these thresholds and start the planning process long before you bump into them. As noted below, you need lead time to assemble your team of advisors, consider your options, and set the wheels in motion to move forward. Preparing for Expansion According to industry benchmarks, a full-time dentist typically serves 1,8002,000 active patients on a sustained basis. If you choose to add a full-time associate, you need to sort out how you’ll swell your patient ranks by that amount. Some questions to consider: • Is the local market ripe for expansion in dental services? Are • Given an effective marketing campaign, what constitutes a reasonable expectation for the number of new patients that you will attract each month? How might you engage your current clientele to stimulate referral business? • Are you prepared to transition some of your existing patients to the new associate? If so, how will you manage your relationships such that you maintain their loyalty to the practice and promote trust in the new associate? Is the associate open to working part-time as you work together to build their practice? As you forecast revenue associated with adding a dentist, be mindful of the fact that while an experienced general practitioner may produce/collect $4,000plus per day, daily production for a new graduate could be closer to $2,500. If you have PPOs or Medicaid, you have to allow for the associated write-off to production that is uncollectible. In addition to adding an associate, you may also need to add a dental assistant and hygienist to help the new associate and take care of the increase in patients. When fully occupied, each hygienist should account for $1,200 to $1,500 in daily revenue, at least 35 percent of total office production, and they should produce 3-4 times their compensation. Hygiene capacity is a good way to increase not only hygiene production, but also the dentist’s production due to the additional diagnosed wanted or needed treatment from all the added periodic exams. Hygiene is patient retention but we often see the continuing care part of the dental software not set up and utilized correctly which means patients are slipping through the cracks. Before adding an associate it is important to ensure this system is set up correctly and is consistently utilized. Beyond labor costs and associated supplies, you may also need to make a capital investment to provide two to three operatories per full-time dentist, depending on the type of dentistry being done. Whether you expand your existing office, move to larger quarters, start up, or purchase an additional location, you need to consider how the expansion will be financed as well as the required lead time until the new quarters are fully operational. When working with your CPA, consider asking them if you could apply IRC Section 168 adjusted production for a recent graduate is $52,500 for the month, collections should be at least $51,450. • Your total accounts receivable should be less than a halfmonth’s production, unless you allow in-office payment plans. • Aged accounts receivable (i.g., 90 days or more past due) should be less than 5 percent of total accounts receivable unless you allow in-office payment plans. If your statistics fall outside these guideposts, focus on collecting unpaid insurance and patient balances while establishing effective policies and procedures to set solid financial arrangements and keep your accounts current. What should you do when your skill, hard work, and passion have resulted in a successful practice? or Section 179 to help you find the dollars to reinvest in your dental practice. Taken together, all of the foregoing provides a baseline understanding of how practice growth affects cash flow. You also need to think about how these new revenue streams impact your accounts receivable. If you do not collect payments in a timely fashion, service expansion could further strain your resources. Here are a few benchmarks to help you gauge performance in this area: • You should collect at least 98 percent of your adjusted production (i.e., total billings less all write-offs such as insurance and courtesy). So, if Once you’ve made the decision to move forward with staff expansion, there are a host of details to iron out. A few considerations include: • Will the new associate be working as an independent contractor or an employee? The IRS has a specific definition for independent contractor. • How will you compensate the new dentist? What benefits should you be prepared to offer or have to offer if the associate is a full-time employee? • What type of agreements and contracts are necessary to define mutual responsibilities and expectations, non-compete, non- CATALYST MAGAZINE // Issue 3, 2015 // 45 BUSINESS OF DENTISTRY solicitation, future potential buyin, termination details, etc.? Do you have a solid office manual in place to cover all other details? • Who pays for licensing, malpractice insurance, continuing education, and related expenses? • Will the new associate need insurance credentialing and how long will that take? Do you need to work with a former employer to receive any insurance payments that go to them in error? • Will this dentist complement you— can they add procedures or services that you do not offer so you can keep that treatment in-house? Are they able to work different hours/days, such as evenings and weekends, to provide extended patient hours? Are they different in age or gender, allowing your patients options that make them comfortable? Whether you choose to leverage fulltime or part-time staff for dentists, dental assistants, and hygienists, think carefully about your ideal candidates. Consider the technical competencies and levels of experience that complement existing staff and/or bring more options to your patients. Think about the personal characteristics that best fit your work style and enhance the patient experience. You may get a sense for “fit” by asking questions for which there aren’t ready answers on a resume. For example: • If I asked you to write a one-page memo about yourself that did not include any of the information on your resume, what would it say? • Which of your accomplishments has given you the most satisfaction in life? Why? • What’s the hardest life lesson that you had to learn in your last Think about the extent to which each candidate’s skills, experience, internal motivations, and personal style align with the environment in which he or she will work. practice? In what ways have you changed as a result of it? If we asked the team and dentist at your last practice to describe you, what do you think they would say? If the prospect of adding a full-time dentist proves daunting, you could consider options for instituting a gradual increase in capacity. Possibilities include: • Finding dentists who want to work part-time, such as associates transitioning into retirement, or young parents with childcare responsibilities. • Hiring a part-time associate who works part-time for another practitioner. • Reducing your work schedule on a temporary or permanent basis. 46 // Burkhart dental supply • What kind of practice are you looking for? What motivates you to give your best effort to take care of your patients and lead your team? • Describe one or more situations that occur frequently in the position that you seek to fill. How would you handle it/them? • What would you say are the top three to five characteristics that make a dental practice successful? Which of your personal characteristics contribute to that success? • What specific goals have you established for yourself in the next two years and ten years? Think about the extent to which each candidate’s skills, experience, internal motivations, and personal style align with the environment in which he or she will work. Are they in accord with your plans and expectations? How will your team and patients respond? Do you think this individual will find the position satisfying? Seeking Professional Advice Experienced practice management professionals can provide the guidance and analytical support to assess your business opportunities and craft a plan consistent with your unique circumstances, timetable, and goals. They’ll provide detailed recommendations to strengthen your current operation while setting realistic expectations for your financial performance going forward. They’ll also outline the up-front investment necessary to achieve growth. While a successful practice provides the foundation for growth, the right team of advisors helps you build a solid future. Megan Urban (Consultant), has been serving the dental industry for over 25 years. She began her journey as a dental assistant and ultimately became a Regional Manager for a large dental group. She has an extensive background in helping dental teams reduce stress and become more profitable, by locating areas of opportunity and helping set solid systems within the practice. Her clients appreciate that she customizes their plans to their practice so they can easily maintain them and have continued growth. She also assists her clients in buying or selling their practices. You can reach any one of our team members at [email protected]. WHAT KIND OF OPPORTUNITIES ARE IN YOUR WAITING ROOM? ENDO TMJ IMPLANTS AIRWAY ORTHO YOU CAN’T TREAT WHAT YOU CAN’T SEE PROVIDE THE BEST TREATMENT PLAN FOR ALL YOUR PATIENTS 3D imaging is an essential tool to grow your practice. The right imaging technology will put enhanced treatment planning and predictability at your fingertips, allowing you to diagnose and treat more patients with confidence. 0 Maxio. OP300 Maxio is designed for your current and growing needs – Panoramic | Cephalometric | 3D What are you capable of with OP300 Maxio 3D imaging? Call 800-558-6120 to supercharge your practice. www.instrumentariumdental.com There’s strength in numbers. A-dec is honored that we have been selected as dental’s top choice for decades. But of all the facts we can share, the most important is helping doctors perform better dentistry—today and far into the future. #1 choice of dentists in the U.S. and Canada—more than the next three competitors combined. #1 A-dec’s industrywide ranking for reliability, service and value. 62 Townie Choice Awards , since their inception ® in 2003, have recognized A-dec products as “Best in Class.” 85% of the dental schools across the U.S. and Canada are equipped with A-dec. Worldwide, more schools and government facilities select A-dec than any other brand. Together, we’ll only get better. Call 1.800.547.1883 or visit a-dec.com to learn more. Based on research by Strategic Data Marketing. Dental product categories include chairs, delivery systems, lights, and cabinetry. © 2015 A-dec Inc. All rights reserved.