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Where to Spend Your Tech Dollars

With all the new technologies appearing in dentistry, it’s challenging to sort out what brings value to the practice, both from a production standpoint and by what is most appealing to patients.  So next Wednesday, March 8 at 11am PST, I’m doing a webinar with data and insights that can point you in the direction that will work best for your practice, and maximize your technology investments.

The webinar will be based on a survey of 500 dental professionals nationwide. Here’s some of what you’ll learn:

  • Which advanced technologies should I integrate into my practice next?
  • How can I promote my investment in technology to attract quality patients?
  • How quickly can I get the return on my investment and grow my business?
  • Should I invest in new technology if I am planning to sell my practice?
  • Which advanced technologies have the greatest patient appeal?

Plus, because I love you all, everyone who attends gets a free copy of our new e-book, “Advanced Dental Technology – Perception vs. Reality.”

Register by clicking here.  And yes, it will be recorded, so as long as you register, even if you can’t attend live, we will send you a link to the recording.

Howard and Fred Go Head-to-Head!

Next Wednesday, February 8th, my old friend Dr. Howard Farran and I will take a deep dive into the raging waters of building a dental team!  You can be sure that it will be a lively discussion, and will give you some practical ideas on creating a team that will make your practice thrive in this ever-changing economy.  It’s a free webinar (retail value $1 million+) so be sure to join in at 11am Pacific, 2pm Eastern, etc. Register here to join the fun!

Also, if you can’t watch at those times, if you register you will be sent a full video recording of the webinar, so don’t miss out, register today!

 

Becoming Remarkable is Now on Audible!

The moment many of you have been waiting for is here: my latest book, released lastBR-Amazon-image September, is now available on Audible!  We have found that Audible is the best medium for an audio book, and you can find it right here: http://amzn.to/1T0YCug.

The price is $19.95, and unfortunately because it is Amazon I can’t discount it for anyone. 🙁

It will NOT be released on CD, as it has become an archaic (and expensive) medium, and Audible accounts are free, and even have a subscription model.

Now that I’ve managed to get this done, I promise to start blogging regularly again!

Mythbusting Dentistry

I often say that dentistry is the most resilient business model in the country. This is true because of the basic necessity of tooth care, and the unique economic model of a dental practice. If you don’t know what I mean by the last part, read my recent blog entitled “Escaping Gravity.”  But I’ve found that there are some huge misconceptions about the industry by those who practice it.

MYTH #1: You don’t have to become more affordable.  You absolutely do.  Have you not seen billboards for implants at $399 a tooth?  You need to become more efficient in your delivery of dentistry and the use of your facility, precisely because you need to become more affordable.  And the right technology and systems can make you faster, delivering better quality dentistry in less time, which means you can provide more affordable dentistry and still be as profitable as you are now, and maybe even more so.

MYTH #2  Everyone eventually will need a dentist.  Think about this: in 2013, 59.2% of Americans supported a family on less than $50,000 a year of household income. That’s households, not individuals. Where is the disposable income for dental care? If it’s not provided by their individual states or counties, it doesn’t exist.  So everyone may need an extraction, but not everyone is going to be getting dental implants.  What dental audience you aiming for, and are you affordable to that segment of society, and are there enough of them in your area?  This goes back to the first Myth, because I believe when dentistry becomes more affordable and more convenient, it will broaden the entire category of dentistry. (My next blog will be about that subject, so stay tuned.)

MYTH #3  All you need are great clinical skills to attract patients. Absolutely not true.  The average person has no way of assessing a dentist’s clinical skills, and a tiny percentage of the population has the desire and the capability to find a highly trained dentist.  If you think CE alone will fill your chairs, you will eventually starve.  This may have been true 30 years ago, but it has grown less and less true for decades, and will not be true at all in the near future.  A great patient experience attracts patients, and creates word of mouth.  Clinical skills are only a fraction of that.

MYTH #4  Dentists are entrepreneurs.  They’re not. They are small business owners, and there’s an enormous difference.  You didn’t invent the dental business model.  Or the group practice model. Which is good, because it means you don’t have to re-invent the wheel. Just look at what already works and do it, and adapt as times change to the new technologies and systems that are improve what you do. That’s challenging enough, don’t you think?

MYTH #5  Selling Dentistry Cheapens the Profession. The simple truth is we all need to be sold on things that are important to us, things that we neglect to focus on the true value of, whether it’s saving for retirement, or buying life insurance, or proper diet and exercise.  Dentistry is probably the most undervalued service in the country.  Very few people accurately assess the value and importance of their oral health, so it’s our professional responsibility to persuade them to do what is best for them. Which is what selling is: effective communication with a purpose.  If that purpose is to the patient’s benefit–and they don’t understand or are in denial about that benefit–you are duty-bound to help them understand the value and importance your recommended treatment.

MYTH #6  Group Practices Are Evil and Will Destroy Dentistry.  The reality is that there are good group practices, highly ethical and dedicated to treating patients well and providing a supportive environment for dentists to simply be dental professionals and not businesspeople, and there are some that are less so.  I had a dental student ask me recently about this, suggesting that some groups have a reputation for over-diagnosing and just being about making money.  My response was that there are some individual dentists who behave exactly the same way.  Don’t paint every dentist or every group with the same brush.  The real truth is that group practices are here to stay, and often serve populations that individual dentists don’t want to treat or can’t afford to.

MYTH #7  New Technology is an Expensive Luxury.  The corollary of this is that you can keep doing dentistry the way you’ve always done it.  The truth is that new technology, properly integrated into a practice, will make you more efficient, and allow you to do higher quality dentistry, and more than pay for itself.  For example, the cost of CAD/CAM technology like CEREC should be totally offset by the savings on your lab bill.  And CBCT technology like Galileos makes it possible to do implants faster and with significantly higher accuracy. And that is just considering the basic advantages of these two technologies. And let’s talk about the standard of care that technology can elevate.  Is there any clinical advantage to putting on a temporary?  Is there any clinical advantage to doing implants with two-dimensional imagery?  I’m no dentist, but I do know that patients are very interested in knowing the advantages to them of these technologies.

I often hear dentists complain that they don’t adopt new technologies because it slows them down.  Well, are they really considering the patient when they use this as the deciding factor?  And the truth is, very often to get better at something by learning a new technique or technology, or changing a system in the office, it requires slowing down before you can get faster and better.  But it’s generally worth it.  (Check out this blog on that topic.)

I’m sure some or perhaps many of you will disagree with me on these various points.  I’m hoping to give you a broader perspective, and also inviting you to inform and enlighten me.  My personal goal is for dentistry to reach more people while making dentists more successful.  And that’s no myth!

My New Book Is Out!

After a year of writing and editing, my second book has finally been published. It’s called Becoming Remarkable: Creating a Dental Practice Everyone Talks About.  It takes the ideas in my first book to the next level.  It’s called “Becoming Remarkable” because that’s what you literally have to be.  Your practice experience has to be so amazing and unique that people can’t resist talking about you.

That has become more important than ever because when people talk now, they do it with their thumbs.  They post it somewhere, whether it’s on Facebook, or Yelp, or as a Google review.  They are adding it to your online identity and reputation, and it’s searchable, likable, sharable, and perhaps most importantly, undeletable.

I love signing books. It's very flattering to an author when people ask.

I love signing books. It’s very flattering to an author when people ask.

Some of the things that I cover in the book are:

  • The impact of corporate dentistry on private practice, and why you either need to join them or compete effectively with them;
  • How the dental patient has changed in the past 8 years, from their attitude about insurance to their expectation of convenience;
  • Where to put your time, energy and money online for the best results;
  • The impact of technology on your practice and on patients’ perception of value;
  • Why your trustworthiness is the most important element in your practice, and what increases or decreases it;
  • And much more.

Some of you may find my various suggestions and predictions controversial.  But I’ve never been one to shy away from the debates about the industry’s direction.  I’m passionate about the future of dentistry, and the urgency to evolve and grow.

I also feature six remarkable dentists and their unique stories and approaches.  What I found striking was how differently they all approached their practices, except for one thing: the patient always came first.  I hope to discover many more remarkable dentists in the coming months, and will feature their stories in this blog.

Meanwhile, I hope you take the time to read my new book, and that it gives you insights and practical tools to build and maintain a remarkable practice over the coming decades.  You can order it here, or buy the Kindle version on Amazon.

I’m recording the audio version next week, so it won’t be available for about a month. Hey, I’ve been busy!