Enter the world of magnification

To enter the world of magnification, choose Carl Zeiss loupes available from Nuview.

With these loupes, practitioners can visualise anatomical microstructures; perfect for dentistry where pinpoint clarity is absolutely essential to ensuring optimal outcomes.

There are several models available to suit a variety of clinical needs. These include the EyeMag Pro, EyeMag Smart and GTX, which can be personalised according to each individual’s magnification, depth of field and working distance preferences.

To help practitioners find the best fit, the Nuview team works closely with all customers to offer advice, assess suitability and take accurate measurements. To find out more, call Nuview.

For more information please call Nuview on 01453 872266,
email info@nuview-ltd.com, visit www.nuview.co or ‘like’ Nuview on Facebook.

Visit A-dec at Showcase

For almost 55 years, A-dec has been asking dentists what they need and want from their equipment. In response, they have created numerous innovative and reliable solutions that have helped shape modern dentistry into what it is today. A-dec has built a lasting reputation of high build quality and product longevity, and currently, sell some of the most highly acclaimed dental chairs on the market.

Visit A-dec on stand J27 at Showcase, for the perfect opportunity to try out their chairs first-hand and ask any questions you may have. A-dec will also be presenting their ink and denim resistant antimicrobial upholstery colours and demonstrating the best headrest positioning techniques for optimal access to the oral cavity.

Private appointments at our showroom are also available. For more information call 0800 233 285, email info@a-dec.co.uk, or visit www.a-dec.co.uk

Formidable dental coaches spearhead new business club

Selling coach Ashley Latter and dental business mentor Andy McDougall join forces to spearhead the Practice Managers Business Club – that’s set to be launched in London in November.

This revolutionary business club will transform the dental industry. It is the first of its kind to provide forward-thinking dental practice managers with the very best coaching the dental industry has to offer.

Ashley and Andy – from Spot On Business Planning – will reveal the secrets of becoming highly effective business leaders. Members will gain access to an academy of practical skills from pricing, people and process, to driving financial results and everything in-between.

The PMBC’s mission is to up-skill practice managers to become effective business leaders. Members will learn essential business management skills and acquire the practical tools necessary to lead their dental businesses to peak performance.

PMBC Discovery Day

The hugely anticipated Practice Managers Business Club will be launched at a Discovery Day at Friend House, 173-177 Euston Road, London, NW1 2BJ (opposite Euston Station and a 10 minute walk from London Kings Cross.) on Saturday 10 November 2018.

At the launch, managers and practice owners will find out what the PMBC has to offer and hear four incredible speakers with proven ideas and techniques, who will help them grow their practice, drive their profits, motivate their teams and inspire them to take action.

The speakers

Ashley Latter – is a truly inspirational presenter who has delivered over 26,000 hours of communication coaching to the dental industry, probably more than any other trainer.

Andy McDougall – applying his corporate MD credentials to assist dental practices to double their profits, Andy is the go-to speaker on the dental circuit for leadership and business planning.

Nigel Risner – a motivational speaker of world-class repute who has spent 20 years travelling the globe inspiring delegates to take massive action in both their business and personal lives.

Anne-Marie Houston – a PM at the coalface and now a mentor for managers who want to successfully drive their businesses to higher levels of performance.

Join the launch

The PMBC Discovery Day will cost just £97 for practice managers, £127 for principals, or £202 for a combined ticket for one PM and a principal, (plus an online booking fee), and will include:

  • A day that will inspire, educate and motivate
  • 6 hours of certified CPD delivered by four incredible speakers
  • Lunch
  • An opportunity to network with like-minded dental managers and leaders

 For more information or to secure a place at the PMBC Discovery Day in Euston on Saturday 10 November, please visit pmbusinessclub.co.uk or email support@pmbusinessclub.co.uk.

 

IDD demystified: what does it mean for dental practices and their patients?

Dental practices are currently facing another major legislative change on 1st October when the Insurance Distribution Directive (IDD) comes into effect, which has caused much discussion in the industry and a range of different approaches. IDD is a change in government legislation around insurance products designed to give consumers greater choice and clarity when purchasing insurance products.

Caroline Coleman, Managing Director of Simplyhealth Professionals said: “As a trusted partner, it is our responsibility to provide our members with advice and support on new regulation, and clinical and business issues. Everything that we do as a customer-led organisation is in the best interests of our dentists and their patients. This is why we have taken the time to fully understand IDD and its implications.”

Simplyhealth Professionals has concluded that in order to comply with the new legislation and give patients the choice that the IDD demands, from 17th September for all new joiners, their supplementary insurance product – historically included as standard within Denplan payment plans – has now become optional.

Sandy Brown, Director of Dentists at Simplyhealth Professionals, said: “We have done everything we can to follow the Financial Conduct Authority (FCA) regulations to make sure that we comply with the new IDD regulations. Giving patients the choice of whether they feel the supplementary insurance is the right product for them is the essence of IDD. It’s really important for those patients that opt in to be reassured in the knowledge that their claims will definitely be paid out according to the terms and conditions. We are working with our member dentists to make sure that they understand the new regulation, how it affects them and their patients, and has minimum disruption to day to day business.”

Simplyhealth Professionals offers patients dental emergency and injury cover that has the protection of a regulated product, with guaranteed pay-outs for valid claims and access to an independent appeals process.

Sandy Brown said: “Opting for insurance seems to me a very minimal monthly amount for absolute peace of mind. The main benefit of insurance is that patients have the legal protection to ensure that payments they are entitled to are paid out.”

BUPA LAUNCHES REFRESHED DENTAL INSURANCE PLANS TO UK BUSINESSES

Bupa’s Dental Plan offers the most generous preventative cover in the market
· ‘No Forms, No Fuss’ – a market-leading direct settlement process – takes the hassle out of claiming
· Dental cover is an attractive people benefit due to its frequent access use

Bupa has enhanced its dental insurance plans to create market-leading cover for business customers and their employees. Amongst the improved benefits is preventative cover, which is one of the most frequently used options, while other changes make it easier than ever for colleagues to access and claim for treatment.

Designed with input from Bupa’s clinical experts, and after reviewing existing customer data, the two policies – Bupa Dental Plan and Bupa Dental Choice – have been created to suit different customers’ needs and both options have been significantly expanded to include additional benefits.

What’s more, in a market-leading move, Bupa has introduced ‘No Forms, No Fuss claiming’, a direct settlement system for patients that have their treatment at one of over 300 practices in the Dental Insurance Network. This is the first time an option like this has been made widely available. It removes the need for patients to pay immediately, leaving them temporarily out of pocket before they claim the costs back. Patients visiting a practice from outside of the network can settle the claim online.

Targeted to both large corporates and SMEs, Bupa Dental Plan is Bupa’s most popular B2B option and offers the most generous preventative cover in the market. Different levels of coverage are available, some have the option to include Bupa’s new Preventative Care Promise. When used in participating centres within Bupa’s Dental Insurance Network, this removes the risk of unexpected bills by guaranteeing to cover preventative dental treatments such as routine examinations, hygienist appointments and x-rays.

Meanwhile, Bupa Dental Choice provides a clear, itemised breakdown of the treatments and costs available, so employees can see exactly what they can claim for each time. A range of different levels of cover are available for each policy, giving companies the flexibility to find the right policy for their people.

Steve Gates, Director of Bupa Dental Insurance said: “High quality dental care is a very popular employee benefit as it’s something that gets regular use. We’ve refreshed our policies as we’ve significantly expanded our UK footprint, making Bupa the second largest provider across the country. As an insurer and a major dental provider we’re in a unique position that can benefit both businesses and their employees.”

Bupa Dental Care now has over 470 practices across the UK, following the acquisition of Oasis last year and it has now expanded its Dental Insurance Network to cover more than 300 of its sites. Customers are free to use their insurance plans with their current dentist, however they’ll benefit from a 20% discount if they chose to visit a practice within the Dental Insurance Network, meaning their benefit limits stretch even further.

Steve Gates continues: “We wanted to take the pain out of going to the dentist, which is why we’ve introduced No Form, No Fuss claiming for businesses across the country. What’s more, with two thirds of our claims being for preventative care, we’ve designed our policies around the cover our customers use most.”

More details about the new plans can be found at bupa.co.uk/business-dental-insurance. A full list of dentists in the Bupa Dental Insurance Network can be found at finder.bupa.co.uk.

Interest rate rise – Will it affect you? – Mitchell Lea Wagemate

 

 

 

 

 

 

So we know that the interest rate recently rose from 0.5 per cent to 0.75 per cent. But what does this mean for you?

Reduced spending

Most consumers are in debt, due to either a mortgage or credit cards. The rise in interest rates will mean that they have to pay out more every month, so will have less disposable income and therefore will probably spend less on the high street.

Dental practices could see the impact of this, especially on cosmetic treatments as these might become a lower priority for those patients who need to be more careful with their spending. With regards to routine dental appointments, patients should be reminded of the importance of regular check-ups to ensure that they appreciate the value of their investment.

Tougher borrowing

For practices looking to grow, the higher interest rates will make it more difficult to find capital as loan repayments will be higher and therefore eligibility will be more restricted. As a result, growth may therefore slow down, so business strategies will need to reflect this new economic situation.

It is also worth noting that for any practices currently repaying loans, the increase in interest will affect annual expenses. In fact, research by Hadrian’s Wall Capital – a specialist debt collector – estimates that small and medium sized businesses (SMEs) could be out of pocket by up to £355 million in the first year alone.[i]Only around 16 per cent of SMEs are believed to be borrowing on a fixed rate basis, so the vast majority will be subjected to the increase in repayments.

Better savings

On the bright side, anyone who is saving will be able to save more and the higher interest rates may even persuade others to start saving wherever they can. This is particularly good news for professionals looking to build their own personal savings.

Adapt to thrive

Adaptation remains the key to long-term success in any business. Rewarding a loyal patient base and attracting new patients with the added value they seek will have only positive consequences for your practice. It is also essential to maintain strict control over business finances in order to avoid any potential issues. Managing payroll efficiently and ensuring the right funds clear for bills and BACS payments will facilitate the smooth daily running of your practice – the Wagemate automated payroll service could be of huge benefit in this area, saving you time, money and hassle with its risk-free guarantee.

For more information on Wagemate,

call us on 03330 102102 or email info@wagemate.com

 

 

Reference

[i]Hadrian’s Wall Capital. Industry News. Small businesses could be hit by £355m in interest charges if rates increase by a quarter. March 2018. https://hadrianswallcapital.com/who-we-are/media/small-businesses-could-be-hit-by-355m-in-interest-charges-if-rates-increase-by-a-quarter/[Accessed August 2018]

NASDAL: PENALTIES ON THE WAY…

HMRC have plans to introduce a points-based penalty system for late payments by businesses and individuals for corporation tax, income tax and self assessment. As with the existing penalty regime, there will be a ‘reasonable excuse’ get-out, but like the current system, inability to pay and reliance on a third party are not reasonable excuses.

A second charge will also become payable and will be calculated on amounts outstanding from day 31 after the payment due date until the outstanding balance is paid in full. Any TTP (Time to Pay arrangement) agreed during this period will also result in future penalties being suspended from the date the TTP was agreed.

In a statement explaining the thinking behind the new system, HMRC said: ‘The changes will ensure that people who pay late can avoid a penalty if they take action to make arrangements to pay, and that those that do not will receive a penalty that is proportionate to both the value of the debt and the amount of time it is outstanding for. The measure is designed to encourage those who cannot pay to agree a Time to Pay (TTP) arrangement as quickly as possible and only penalise those who do not.’

Heidi Marshall, head of the dental team at Dodd & Co and Secretary of NASDAL (National Association of Specialist Dental Accountants and Lawyers) commented, “These changes illustrate the need for you or your accountant to be in communication with HMRC and to not bury your head in the sand or ‘hide’ from the debt if there any issues. As of yet, there is no date for the launch of the points-based system for non VAT taxes or details of the rates at which the penalties will be charged but watch this space.”

Getting the valuation ‘just right’ – Paul Wilkinson Dental Elite

Here, co-founder of Dental Elite, Paul Wilkinson, explains why getting the ‘right’ valuation from a trusted agency that isn’t inflated or deflated can improve a vendor’s chance of selling their practice and achieving optimal results.

In many ways, a practice valuation is very similar to the tale of Goldilocks and the Three Bears – it has to be ‘just right’. So should you choose to go to market with a valuation that is inflated or deflated – in other words over or under the usual market values – there’s the possibility that your practice might not do as well as it would have done at the ‘right’ price.

With a deflated valuation the main risk is that your practice sells for a lesser price than it’s worth, which might be better for the buyer but is an injustice to you and all your hard work. In some instances a lower start price can help to drive up the prices in an open bidding process, but there’s no guarantee with this so it’s always best to avoid a valuation that is below the true value of your practice. However, if the practice is brokered professionally the risks of a lower valuation are often hedged against by maximising competition. On occasion we deliberately send a practice to market at a lower price to maximise ‘the heat’ in a deal to create the best possible price.

For this reason there is arguably greater risk with an inflated valuation. Even if your practice is high in demand and in an area that has naturally higher values, try to steer clear of the agency that has provided you with an exaggerated valuation. The main reason being that if your practice is on the market for too much money you could seriously damage the value and reputation of your practice, as a lot of buyers won’t even entertain looking at it. If that were to happen and you then tried to reduce the asking price, it’s quite likely that you still wouldn’t gain the same sort of traction. Firstly, because potential buyers that might have been interested in your practice will likely have already taken their money elsewhere, but also because it makes people suspicious of your practice, and of your motives. It’s hardly the best start to a relationship with a buyer; especially if their back is already up because they feel like you’ve got too high expectations and will be difficult to negotiate with.

Even if you do find a buyer willing to pay over and above market value, you’ve still got the risk that banks won’t lend that amount. After all, banks will only lend against what they think the practice is worth, so if the independent valuation by the bank determines that the practice is worth less, the buyer will end up having to find the additional cash themselves. If that can’t be done you then run the risk that the buyer will have to drop out of the sale, which puts you back at square one.

It is usually because of one of the two following reasons that a valuation is inflated: the vendor has a price fixed in their mind and isn’t prepared to take any less, or the broker has overvalued to secure the business. If you have a number in your head that you’re determined to get, make sure that it tallies with what the current market value is of similar practices, because you might find that you have to lower your expectations. There are plenty of market research and goodwill reports out there that can help you to get to grips on where your practice lies within the wider picture, and a quick search on the internet of similar practices for sale will soon give you an indication of what your practice is worth.

The other thing you can do to make sure that you come away with an accurate valuation is to ask the valuer for the methodology behind the report. You’ll find that some agencies do this automatically. For instance, Dental Elite will always provide a comprehensive report detailing the methodology behind the valuation and reasons behind the multiples applied, as well as comparable data where the information is available – though of course this isn’t always possible. If they aren’t able to back up your valuation with hard evidence you have to ask yourself how they managed to reach that conclusion – and whether they’re the best brokers to be leading your sale.

Of course, if you do your homework on an agency well enough beforehand you can usually find out if they provide you with a comprehensive report. Some websites might even tell you what the report content will contain. Still, the best way to learn the truth about an agency’s service is to look at customer reviews and testimonials from previous vendors.

The outcome of a practice sale might ultimately be about getting the deal over the line and having an agent that will take an active role, but the more reasonably priced you are the more attention you’ll attract from the market. The key is to therefore strike a balance between having an accurate valuation and recruiting the services of a reliable broker to manage the transaction and achieve the optimal results on all aspects of the sale.

 

For more information on Dental Elite visit www.dentalelite.co.uk, email info@dentalelite.co.uk or call 01788 545 900

 

Making the most of social media – Association of Dental Implantology (ADI)

It is not an understatement to say that social media has revolutionised the way that we live our lives. Not only has it become a core part of our daily interactions, but it has also evolved into a fantastic resource to find new information and meet new people, opening doors to new opportunities that are well worth exploring. These opportunities are numerous for dental professionals, and by harnessing the power of social media you can quickly reap the rewards.

 

A global way of life

In recent years social media has become so popular in global society that its users now number well into the billions. This number grew from 0.97 billion in 2010 to 2.62 billion in 2018 alone, and is now projected to continue rising to reach over 3 billion in 2021.[i]

This not only shows how deeply ingrained social media has become but also how far its reach has expanded, providing countless marketing, networking and educational opportunities for those who know how to use it best.

 

A wide audience

Due to such high numbers of the world population using social media (over 40% if we consider the 2018 social media statistic against the current estimated world population of 7.6 billion[ii]) it makes sense that various platforms such as Facebook and Instagram can be used as effective marketing tools for a dental practice. A Facebook page, in particular, is a very useful platform to have as it can serve multiple beneficial functions. Not only can it act as a hub for patients to discover relevant information such as opening times and the latest practice news, it can also be used as a space for promoting special offers and new equipment or procedures, which may draw in new business.

Instagram, too, is an excellent platform for professionals looking to show what they are capable of. The app recently revealed it now has 1 billion monthly users,[iii]and with this level of traffic it’s easy to widen your visibility, especially if you post relevant images that show the skills of yourself or your team. Of course, proper consent from patients is vital in these instances, but once obtained these images can be a fantastic marketing tool to draw in new patients.

 

Networking possibilities

Social media has made it easier than ever before to get in contact with people who are relevant to your line of work. A quick search on Facebook will quickly bring up plenty of groups for people in the profession and suggested friends, and for dental professionals – especially those who offer implant services – this can be invaluable. These groups offer diverse forums for discussion and are often frequently visited by some of the most prominent figures in the industry. Plus, you can speak to people and gain second opinions on aspects such as materials or brands, helping you to make the best choices for both your practice and your patients.

LinkedIn also offers plenty of professional potential, and people on the site often use it as an electronic curriculum vitae so you can easily see people’s credentials. This makes it easy to contact people who you think will be relevant to your own career or approach people who could be attractive candidates for any positions you may have available in your practice.

 

An encyclopaedia of education

Arguably one of the best aspects of social media is the potential to use it as an educational tool. Whilst some platforms are fairly limited in this regard, Facebook groups are a gold mine of information that can help you in the field of implantology in a number of ways.

Depending on the group you may be able to find out about new materials and equipment used in implantology procedures or keep on top of the latest innovations from around the world. This not only gives you a constantly updating global perspective of the industry but can also inspire you to research new topics and materials, helping you to offer a better level of patient care. Furthermore, these groups are also invaluable forums for feedback should you want any guidance or advice Many of these groups will have members who actively assist people with questions or offer their perspectives, meaning that you can gain a thorough evaluation of cases from qualified professionals where required.

 

Understanding the power that these groups can have, the Association of Dental Implantology (ADI) offers individuals access to their ADI Members’ Only Facebook Group as just one of the many perks of membership. An exciting hub where professionals can learn, discover and discuss, this Facebook group is available alongside other invaluable educational resources for members such as ADI Study Clubs and access to high-quality research journals.

 

Social media your way

It’s important to remember that social media can work differently for everyone. Depending on whether your goal is to network, learn, or market your skills or your practice, social media provides many possible avenues. All of them are worth exploring if you really want to make the most of what the modern age has to offer.

 

For information on the ADI and upcoming events, please visit www.adi.org.uk

 

References

[i]Statista. Number of Social media Users Worldwide from 2010 to 2021 (In Billions). Link: https://www.statista.com/statistics/278414/number-of-worldwide-social-network-users/ [Last accessed June18].

[ii]World Population Review. World Population 2018. Link: http://worldpopulationreview.com/ [Last accessed June 18].

[iii]  The Telegraph. Instagram Hits 1 Billion Users as it Launches Video Service to Rival YouTube. Link: https://www.telegraph.co.uk/technology/2018/06/20/instagram-hits-1-billion-users-launches-video-service-rival/ [Last accessed June 18].

The evolution of the practice manager – Lisa Bainham

THE practice manager acts as a kind of ‘eye in the sky’ in the business, with oversight across all areas and ensuring things run smoothly to keep patients and staff happy. Often, on top of this, they will also be involved in business development and evolving the practice to stay ahead of the competition. Not to mention compliance, regulations, HR, etc.

My point is it’s a wide-ranging, busy role, and one that has changed significantly over the years – not least in the fact that it even exists. Thirty years ago, the practice manager was a rarity in dental practices, and 20 years ago they were becoming popular but the role, much like dentistry, looked very different.

It was at that time that Lisa Bainham first became practice manager at The Old Surgery in Crewe. I caught up with Lisa, who is also president of the Association of Dental Administrators and Managers (ADAM), to find out more about her two decades in practice management and what the role entails in 2018.

Louise: Firstly, congratulations on 20 years as a practice manager! What made you stay for so long?

Lisa: Thank you – time flies! I originally started as a dental nurse but quickly realised I was more interested in the business side of things. I am always hungry to learn and take on challenges, and because the role is constantly evolving, it feeds that hunger very well.

Our practice has grown significantly over that period to include six surgeries and 41 staff, and we recently opened a second practice. Helping to drive that forward has certainly been a learning curve and kept me interested, and I am lucky that the dentists at our practice treat me very much as a partner. Being treated like an equal when it comes to decision-making really spurs you on to make the practice a success and gives you that extra motivation to invest in the business.

Louise: Almost all of the practices I visit these days have a practice manager in the team, but it was a different scenario in 1998… what kinds of changes have you seen since then?

Lisa: There wasn’t the level of compliance that there is now, which was a lot easier. We didn’t really have audits, the worst thing that would happen in that respect would be a Dental Reference Officer coming once every two years, looking at a few notes and having a chat.

Of course, we now have the CQC which can present more of a challenge as you cannot afford to fall behind with it. I know many managers find compliance to be an issue, but for me it’s not the case which may well be because we employ somebody to do at least two days a week on compliance. It didn’t make financial sense for me to be spending that time on compliance, as it doesn’t grow the business or bring new patients in. I know it may not be possible in all practices, but I think people will start to realise it is a separate role.

Marketing was also a big challenge when I first started, because it was quite new to us as an industry. Over time patients have become ever savvier so we have needed to be more strategic and think about what kind of patients we want to attract and ways of retaining patients in a competitive market.

As patient expectations have changed, the threat of litigation has also risen, so the need to invest time and money in meeting your patients’ needs – not just clinically – has become more and more important to improve your customer service and reduce the opportunity for complaints

At one point I think the role was seen almost as a ‘glorified receptionist’ but over time owners and dentists have, in general, come to understand the importance of staff training and that if you have the right person in the role and you empower and support them, they can be instrumental in growing the practice.

Louise: Do you have any thoughts on how dentists can ensure they are getting the best from their practice manager? You mentioned ‘empowerment’, presumably that plays a big role in this…

Lisa: Absolutely – a manager needs to be a manger and not be micro-managed themselves, otherwise don’t give them that title. It can depend on the size of the practice but some dentists employ a practice manager and then still try and do aspects of the role themselves. For me, that doesn’t work as the dentist can generate more income by doing dentistry than getting involved in things they don’t need to, such as staff rotas.

That is the approach I take, however there is a big disparity throughout the industry in terms of how much dentists are willing to empower their managers, and how much they’re willing to pay. At ADAM we conducted a salary survey which showed a discrepancy ranging from £9 an hour to £35 an hour, and that is connected to levels of responsibility.

You have some practice managers who have a huge remit; they’re monitoring the finance, doing marketing, and juggling patient relationships, clinical governance, compliance and HR. Most dentists, but not all, are now beginning to understand that if they want someone who has this whole package, they need to pay accordingly. If they do they will be rewarded with a manager who takes the hassle out of running the practice, allowing them to focus on treating patients, and who works towards growing the business.

Louise: Given your role at ADAM, what is the main issue your members are telling you that they face as a practice manager today?

Lisa: I asked our members recently about what the major headaches are for them, and generally the response was that they are struggling to recruit the right people and there’s a shortage of dental nurses and really good associates.

People are taking on staff who might not be suitable for them but they feel like ‘it’s better than nothing’. It suggests there’s a perception that dentistry is not the most positive industry and it’s not seen as an attractive career option, which is a real shame as I have absolutely loved my time in the profession so far!

Louise: Me too! I know there is more we could say, but we’ll have to leave it for another day. Thank you very much for an interesting discussion. n

www.dpas.co.uk