An Honorable Distinction: Selected for Incisal Edge's Top 40 Under 40 Dental Specialists

I am thrilled and deeply honored to share some exciting news – I have been selected as one of Incisal Edge's Top 40 Under 40 Dental Specialists in the United States. This recognition is a significant milestone in my career, and I am humbled to be counted among the most talented and forward-thinking young dental specialists across the nation.

For the 13th consecutive year, Incisal Edge, Benco Dental's award-winning magazine, is shining a spotlight on the 40 best general dentists and 40 best specialists in the United States. This esteemed recognition acknowledges the most innovative, clinically adept, and ambitious dental professionals who are pushing the boundaries of dental care.

Being part of this elite group of dental specialists is not only a personal achievement but also a testament to the dedication and hard work of my entire team. It's a recognition of the countless hours spent in pursuit of clinical excellence, the commitment to staying at the forefront of dental technology, and the passion for making a positive impact on the lives of our patients.

As I reflect on this honor, I am reminded of the responsibility that comes with it – the responsibility to continue providing the highest quality care, to remain at the cutting edge of dental innovations, and to inspire the next generation of dental specialists.

I want to express my heartfelt gratitude to all my patients, colleagues, mentors, and the entire dental community for their unwavering support and encouragement throughout this journey. I am excited about the future and the opportunity to contribute to the advancement of dental healthcare.

Here's to a future filled with more remarkable achievements and a commitment to excellence in dentistry.

AI's Impact on Dentistry: Revolutionizing Oral Healthcare

Artificial Intelligence (AI) has rapidly gained prominence across various industries, and the field of dentistry is no exception. By harnessing the power of AI, dentistry has experienced a transformative shift in diagnostics, treatment planning, and patient care. In this blog post, we will explore the innovative applications of AI in dentistry, showcasing its broad impact on oral healthcare.

I. AI in Diagnosis and Treatment Planning:

1. Advanced Imaging Analysis:

AI algorithms have revolutionized dental imaging analysis, allowing for more accurate and efficient diagnoses. By analyzing X-rays, CBCT scans, and intraoral photographs, AI can quickly detect and classify dental conditions such as caries, periodontal diseases, and tumors. This enables dentists to make timely and precise diagnoses, improving treatment outcomes. Some examples are Smilecloud and Smilefy.

2. Computer-Aided Design and Manufacturing (CAD/CAM):

With AI-driven CAD/CAM systems, dentistry has witnessed a significant transformation in dental restorations. AI algorithms can create digital models of patients' teeth, facilitating the precise design and manufacturing of prosthetics like crowns, bridges, and dentures. This technology streamlines treatment planning and customization, offering patients more accurate and comfortable dental solutions.

II. AI in Patient Care and Engagement:

1. Personalized Oral Health Assistance:

AI-powered chatbots and virtual assistants have revolutionized patient care in dentistry. These interactive tools provide round-the-clock support, answering common queries, offering oral health tips, and even assisting with appointment scheduling. By enhancing patient engagement and access to information, AI-powered systems improve overall patient satisfaction.

2. Predictive Analytics and Preventive Strategies:

AI's predictive analytics capabilities analyze patient data, including medical history, lifestyle habits, and genetic factors, to identify potential oral health risks. By identifying patterns and trends, AI empowers dentists to develop personalized preventive strategies. Early detection and intervention through AI-driven risk assessment contribute to better oral healthcare outcomes.

III. AI in Research and Development:

1. Data Analysis for Advancements:

AI's ability to analyze vast amounts of data efficiently has significantly accelerated dental research and development. By processing diverse datasets, AI helps identify patterns and trends that contribute to the development of innovative treatment methodologies, materials, and technologies, pushing the boundaries of oral healthcare.

2. Enhanced Treatment Outcomes:

AI assists in clinical decision-making by providing evidence-based treatment recommendations. By analyzing aggregated patient data, AI algorithms contribute to the development of treatment protocols that maximize efficacy and improve long-term outcomes. This data-driven approach ensures patients receive the most effective and personalized care possible.

Conclusion:

The integration of AI in dentistry has brought about a paradigm shift in the field of oral healthcare. From advanced diagnostics and treatment planning to improved patient care and engagement, AI's transformative impact is undeniable. By leveraging the power of AI, dentists can enhance accuracy, efficiency, and overall treatment outcomes. As AI continues to evolve, dentistry stands to benefit from further innovation, ultimately resulting in better oral health for patients worldwide.

4 Benefits of Taking a Data-Driven Approach to Run Your Dental Business

This is a guest post by Bash Sarmiento

With how hectic the everyday operations of a dental practice can be, sometimes big-picture strategies are left on the back burner. However, adopting a data-driven approach and analyzing your dental business’s data is one of the surefire ways to recognize opportunities that can improve your practice. 

Here are four reasons why you should run your dental business with a data-driven approach:

1. You figure out what works and what doesn’t

Managing your private dental practice means that you’re monitoring a lot of moving parts, from your patients to your staff to your inventory and everything in between. Being able to gather information about the different aspects of your business allows you to assess what’s working, what needs improvement, and what can be eliminated. 

You are also able to distinguish any blind spots or weaknesses in both your business and actual practice. While trusting your intuition is always a good approach, this may cause you to overlook crucial opportunities for improvement, SoftwarePundit points out. Not studying your data may lead you to overestimate certain features of your practice that can be detrimental to your performance. 

Being more mindful of your business’s data, staying on top of collecting, measuring, and analyzing them, helps you identify opportunities to improve. It can also maintain and enhance cost-benefit ratios for both the dental care providers and the patients. Gathering and analyzing data doesn’t have to be labor-intensive like you might think, you can easily create an automated Google sheet dashboard to better showcase your data.

Improvement does not always have to be grand either, as big-picture metrics may not properly encompass the day-to-day way things operate. Adopting changes according to your data analysis may not present an immediate impact, but over time and with the right approaches and techniques, you will find that you are getting your desired results in the most efficient way possible. 

2. Your patients will receive better care

Analyzing your data makes it easier to catch details regarding your patients’ oral health, like whether or not you are experiencing high patient attrition rates or you could possibly be underdiagnosing certain oral diseases compared to the national statistics. Of course, to realize the latter, you must first be able to gather the appropriate data in your own practice to refer it to the national averages.  

The best way to gather patient data efficiently is to consider switching to electronic dental health records (EDRs). This gold mine of data can greatly help you better organize your patients’ information and assess your delivery of quality care.

Your metrics coupled with discussions with your staff on how to better approach these oversights will greatly benefit your patients as you provide them with quality care and services. It also keeps your practice running efficiently to deal with different cases.

3. The numbers are great motivators

By having the hard data, not only are you able to see how your business is doing currently, but it also helps you set reasonable and attainable goals moving forward. Sharing your data with your staff can also help them understand any problems you, as a collective, might be facing or any points of improvement everyone can contribute to refining. 

Your data can support any areas you are excelling in, while also presenting any probable lapses in services or operations. Since each team member has their own role, they can focus on the data related to their responsibilities and possibly help their colleagues in their respective fields too. Your team may be able to effectively meet and even exceed their goals given the data available to them. 

As you continue to measure your data and see that the metrics are improving, presenting the positive changes to your staff can be a great motivational tool for them. Recognizing your staff’s hard work and being able to back their improvement with tangible data can make the praise all the more rewarding. This can also improve your employees’ satisfaction rate in the business which in turn creates a culture of growth and continued improvement in the team.

4. Improvements beyond your own practice

The data you gather will not only help improve your own business but can serve a greater purpose for the dental community as a whole. Newer technology makes it possible to provide and access a plethora of dental record data which makes it easier to study which dental therapies work and which need updating, according to Dental Economics. Problem-solving and advancements in the dental industry may now be easier to develop as the data required to promote these changes will be easier to gather, manage, analyze, and access.

Data in this day and age is a valuable commodity. While it may take some time getting used to staying on top of recording and analyzing your data will greatly impact your business. Adopting a data-driven approach to your practice will not only propel you to a more efficient and successful dental practice but will also aid in the movement towards an improved dental industry.

Meet bash Sarmiento

Bash Sarmiento is a writer and an educator from Manila. He writes laconic pieces in the education, lifestyle and health realms. His academic background and extensive experience in teaching, textbook evaluation, business management and traveling are translated in his works.

Find him on Instagram and LinkedIn

How To Make the Choice Between Dental Service Organization (DSO) and Private Practice:

Many dental professionals, new grads In particular struggle with the decision to join a dental service organization (DSO) or purchase their own private practice. A lot of the decision making lies in the fact that we are now burdened with heavy student loan debt combined with the hardships of the COVID-19 pandemic.

The question then becomes, do I take the leap and go into practice ownership or play it safe? Of course, and you might be more equipped to flourish on your own. But this depends on individual skills and preferences.

According to David Rice DDS, founder of Ignite DDS  “They both have advantages and shortcomings depending on the person. One’s level of personal responsibility, income level, and quality of life can all be better or worse according to preference. It definitely comes down to an important choice; how much are you willing to deviate from the old adage of ‘focusing on the dentistry?’”

DSO Advantages

DSO ownership can offer many advantages to a practice owner. There is essentially a corporate management system that takes over operations. This means help with payroll, supply distribution, and repair/maintenance issues. You’ll also probably enjoy perks such as drastically reduced repair bills and quicker service response. Large DSOs have the power to negotiate prices based on volume, so the larger they are the better the perks become. 

Operations isn’t the only thing that gets a boost; your new affiliation will offer inclusion in nationwide marketing campaigns, with more patient visibility through multiple website channels. In a world where the pandemic literally shut down almost everything, that can be a huge boost when trying to convince your patient base (who isn’t leaving the house much) that the dentist’s office is one of the safest public places to be. Speaking of your patient base, if you’re just starting out in practice this is a big plus—you don’t have to wait to build your client base; the DSO will have been marketing for you since before day one. 

Other perks will most likely include access to training and continuing education opportunities that you and your staff might not have known about or had access to otherwise. One thing about DSOs is that they prefer uniformity. This could result in the uniform decision to replace equipment that doesn’t hold up to their standard. You could suddenly be replacing dental chairs that are more than 10 years old or moving to CAD/CAM or CBCT if you haven’t already done so. 

The benefits of new equipment are obvious, and hopefully your team will be excited about the new learning opportunities. Guidelines are the key to success for them, and you’ll have to keep your team in the progress loop. Because of this, you’ll also learn a lot about running a successful dental business, something that will be invaluable should you decide to open your own office someday. Large companies hire successful, experienced executives to lead their (and your) teams so that only best practices are brought into the business. 

DSO Disadvantages

The drawback of the disadvantages might depend only on your interest in avoiding them, but profit would be at the top. You stand to make only a portion of what you would make as an owner, but the tradeoff is everything I discussed above. Because of the standards and uniformity, you’ll have little room for negotiation at the practice level, and other doctors and team members will be paid accordingly. Profits may take priority in corporate ownership, so you would be leaning into decisions you might not normally make under alternative leadership. 

You also stand to lose some decision-making power. More specifically, additional treatment could be the norm when in doubt (perhaps against your own intuition), and associates working on scale might be in competition for the high-dollar procedures. Production goals will also be in place, so if others are sending the business, you’ll be held to capitalizing on those opportunities. It’s also wise to find out everything about the contract you sign; some may include a restrictive covenant that would prohibit you from practicing within a certain distance of your current practice to prevent competition. 

Private Practice Advantages

On the flip side, private practice offers high-risk, high-rewards for those with dreams and perseverance. In reality, doesn’t everything worth doing carry risk? Obviously, overhead is the major discerning factor here, as all costs—from startup to maintenance—are solely your responsibility. Private practice also offers complete autonomy, with no location restrictions or restrictive covenants and complete control over capital investments, personnel, and other major decisions. 

It helps if you know something about business, and there are many articles available about what they don’t teach in dental school. Small offices are more personally affected by each employee, so you’ll need to create influence by being a strong mentor and helping your team members grow. One way to do this is by exposing them to new technology and procedures and developing their skills. The investments you make in your team will pay off exponentially with less absence and turnover. 

Also, human resources decisions are left up to you. If you do things right, you can minimize payroll with smart choices and multifunctional team members. You don’t have to seek approval to hire someone outside of your initial price range with exceptional skills. All major equipment investments, while seemingly pricey, will pay for themselves with a quick return on investment and will be attractive when it’s time to retire. I’ve often said that dental equipment upgrades are never a bad decision, and any dental transition broker will tell you that buyer dentists will consider offices with upgrades and good equipment a much better investment than something they must sink money into immediately. Furthermore, a private practice that is well kept is a very attractive opportunity should the owner want to take on a partner. 

Private Practice challenges

Some challenges a new private practice might face are the same as starting any other business. Startup costs in building or purchasing can be burdensome, and loans can put pressure on a new business. A consistent patient base can take years to develop, so a first impression is important. The current technology and a fresh, clean office are a must to lure new patients away from their current offices. Marketing is important, and while there are several programs that you can use with third parties, a good employee with a marketing background will help you manage that as well as a strong social media presence. Obviously, slow days in your practice mean less income to cover expenses, whereas working for someone else might not affect your daily rate. You’re also solely responsible for keeping up on all of your HIPAA requirements and security and failing to do so can mean consequences to you personally.

Ultimately, there are ups and downs at both ends of the ownership spectrum. My goal in this article is not to pick a winner, only to illuminate the fact that one’s ambition, desire for income potential, or need for autonomy would make one choice easier than the other. Depending on one’s abilities, means, and outlook on life, either one offers benefits and downsides, but switching between the two will take time and research. 

Before you make the decision, it’s wise to consider all factors, do your due diligence, and understand the restrictions of each. There are many resources available to advise on the cost/benefit spectrum, but no one else can tell you what’s right for you. If you value work/life balance and don’t put a premium on income, you might opt for less responsibility and focusing on the dentistry. If you want the chance to build something in your own name, you might want to take more control and reach for the brass ring. Good luck!

Original article from DentistryIQ

How Dentists Can Start Their Own Practice While Repaying Student Loans

Dental school graduates have among the highest amounts of student loan debt compared to other graduate degree types, most graduating with more than $300,000. While that might seem like a lot, dental grads also have significant earning potential, which means that it's possible for them to repay their loans and still fulfill their dream of opening their own practice.

The key to successfully starting a dental practice is to plan for it. That means saving up, optimizing your credit score, and making yourself attractive to lenders so that when it comes time to take out a dental practice loan you will easily be approved.

Here are some smart steps dentists can take to get their finances in order and work their way toward starting or acquiring a dental practice.

Focus on Earning Steady Income and Improving Your Credit

‍Before diving in headfirst to start your own practice, it's important to take a step back and consider the benefits of building your experience as a dentist while earning money along the way. "It's hard to start up a dental practice right out of school for a few reasons," said Adam Glassberg, financial counselor with Chicago-based D3 Financial Counselors, who works primarily with young medical professionals. "First, it might be hard to market your services with little or no experience. Second, working as an associate will also put you in a better financial position."

In addition to earning income and developing more experience, the extra time spent working as a dental associate prior to starting your own practice will allow you to focus on building your credit score. According to Glassberg, that means doing things you likely already know you should do, such as making your student loan and credit card payments on time.

But it also means doing some things that you might not realize improve your credit, such as being mindful of keeping your total debt amount low.

"For example, you want to keep your total debt to less than 30% of your credit outstanding," said Glassberg. "If you have a credit card with a $10,000 limit, you want to make sure your balance on the card doesn't exceed $3,000. Any more than that, and your credit score could suffer." He also recommends that you keep your oldest credit accounts open. "Credit companies look at how long you have had access to credit, and so closing old accounts might have a negative impact on your credit score," Glassberg said.

Meet With a Financial Planner

If you're feeling a bit overwhelmed at the prospect of starting a practice and paying your student loans, it would also be beneficial to reach out to someone who can help you create a plan. A financial planner who specializes in working with health professionals is probably your best bet.

Glassberg believes it's critical that you work with a financial planner, since they help you consider things you might not have thought about. For example, he recommends that his clients save money in an emergency fund to cover any unforeseen expenses for up to one year before starting a practice. "It's important to have that emergency safeguard," Glassberg said, "because you can't depend on making money from your practice in that first year." A financial planner will also help you optimize your assets and manage your student loans in order to prepare you for applying for a loan to start or buy a practice.

‍Find the Best Student Loan Repayment Option

‍Dentists have several options to manage and repay their student loans, and it's worthwhile to look into each one to determine which is right for your situation. Here are a few options that you can consider for tackling your student debt:

• ‍Consider Refinancing Your Student Loans

Because practice loan lenders like to see that the dentists they lend to have more cash on hand, it is often a good idea for dentists to refinance their student loans to lower interest rates with longer terms. This will enable you to lower your monthly payments so you can start saving for your practice.

‍When you refinance student loans, you're taking out one new loan to replace one or more existing loans often receiving a lower interest rate than what you were previously paying. Private lenders like CommonBond, SoFi, Splash Financial or LendKey offer refinancing options that could save the average dentist thousands over the life of their student loans.

‍"If you can reduce the interest rate or extend your repayment term, you can lower your payments which would give you more cash flow in order to start your practice," said Glassberg.

‍Refinancing your student loans enables you to both lower your monthly payments and lower your debt-to-income ratio, which can be helpful when it comes time to apply for a practice loan.

• Explore Federal Student Loan Programs for Dentists

‍Refinancing isn't always the best option for every dentist, however. The federal government offers several programs specifically for dentists that private lenders don't offer. In order to be eligible for most of the government programs, dentists are generally required to work within Health Profession Shortage Areas (HPSA) or a Medically Underserved Area or Population, as defined by the U.S. Department of Health and Human Services.

‍A few of the government programs available to dentists include:

‍National Health Service Corps (NHSC) Loan Repayment Program‍

Under this program, dentists can receive up to $50,000 to repay their dental school loans in exchange for a two-year commitment to work at an approved NHSC site in a high-need, underserved area.

Army Dental Corps Programs 

If you serve as a dentist in the U.S. Army, you may be able to get up to $120,000 in student loan repayment assistance, as the Active Duty Health Professions Loan Repayment Program offers $40,000 per year for a maximum of three years.

‍State-specific options:

‍In addition to federal government programs, most U.S. states offer student loan repayment assistance or forgiveness for dentists who work in medically underserved communities. These options vary from state to state, so it's worth exploring the options available in your state.

‍If any of the situations listed above apply to your desired career path, then it would be worthwhile to explore some of the federal and state student loan repayment options available to dentists.

Apply for a Practice Loan

‍Once you have great credit, strong work experience, a robust emergency fund and have found the best student loan repayment option for your circumstances, you're ready to apply for a loan to start your practice.

‍According to Glassberg, this is when your hard work to save money will pay off: The more assets you have and especially the more liquid assets you have – the more likely you are to obtain a loan.

‍Here are some of the top factors to keep in mind when it comes time to apply for a dental practice loan:

‍Create a business plan

Before giving you a loan, lenders need to understand how you will manage and grow your practice, including how you'll run day-to-day operations and get new patients. Generally, lenders are wary of lending to you until they believe you have a proven business, so having a solid business plan to share with them will help the process significantly. This article in Dental Economics offers useful steps for dentists to take in creating a business plan.

Be prepared to share necessary documents and information with lenders

In addition to a business plan, when applying for a practice loan, you'll need to be able to share further information with lenders. This includes information such as the purpose of your loan, the amount you intend to borrow, debt service coverage, primary collateral, debt-to-worth ratio, management experience, and your credit score.

‍Get life insurance and disability insurance

‍It's common practice in the dental lending industry to require these policies to be in place as collateral for the loan in case something happens to the dentist. Insurance is a big factor in mitigating a lender's risk that a dentist would be unable to repay the practice loan due to death or disability.

‍Determine what type of loan you need and choose the right lender

‍Once you have all of these other elements in place, you'll be in a good position to apply for your practice loan. At this stage, you should determine the desired term of your loan –generally you can choose between repaying your loan in 7 or 10 years and select the best lender, depending on which offers the best interest rate and terms for your situation. Lenders that offer practice loans include Bank of America, US Bank and Wells Fargo. It may also be worthwhile to explore a website like Fundera, which can connect you with a variety of small business lenders and allow you to choose the best option.

‍In addition to these considerations, Glassberg recommends that dentists looking to start up their own practice continue working as an associate at another practice as they get their own practices up and running in order to help with cash flow, which certain lenders require. And, in some cases, acquiring an existing practice might be a better bet, according to Glassberg. "Because the practice is already up and running the terms of the loan could be more favorable since it is a lower risk loan," he says.

While paying down your loans and starting your practice might seem daunting – it's entirely doable. With a plan and some hard work, you'll be able to open the doors of your own practice in no time.

This is a sponsored post from Commonbond and may contain affiliate links.

Should You Lease or Buy a Space For Your Start-Up Dental Practice

One of the most common questions among dentists who want to start their own practice is whether to buy or lease a commercial property (Practice real Estate). Through in-depth analysis, it was concluded that buying commercial property is the better option if you plan on staying in the same location for 7 or more years. Therefore, considering the growth of your business will be a large decision making factor in choosing whether to lease or buy a space. 

On average, over a 15 year occupancy period, leasing commercial real estate costs as much as 86.6% more than buying commercial real estate. In cases where you lease a space for less than 7 years, oftentimes this cost will be less than buying. Therefore, seven years is considered the “breakeven” point in terms of occupancy costs. 

When determining whether to buy or lease commercial property for your practice, there are some questions to ask yourself:

• Will I outgrow my space, and if so, how many years will it take for me to outgrow my space?

• Am I in a position to tie up capital in commercial real estate?

• Do I want the flexibility of leasing? Or do I prefer the stability of having a mortgage?

• Am I up for the challenge and the hassle of maintaining a property?

• What are the local trends in the commercial real estate market?

There are benefits to both leasing and buying a commercial space and by considering the pros and cons of each, you will be able to choose the path right for yourself.

Commercial properties tend to store their value, making them a good investment. Additional benefits to purchasing real estate include, but are not limited to, equity upside, asset appreciation, rental potential and tax benefits. On the other hand, when leasing a commercial space, you have more liquidity, more flexibility, and additional tax benefits you are able to take advantage of. 

Overall, it is important to take the time to plan both your short term and long term goals in order to determine whether buying or leasing is the best choice to make. Ultimately, however, it is important to remember not to sacrifice location on the basis of buying or leasing a space for your dental practice. If investment in property is your concern, you always have the option to buy other real estate for investment purposes.

Guest Post by Armincoinc

Steps To Opening Your New Dental Practice

Ever since the thought of becoming a dentist crossed my mind back when I was a teenager, the goal of opening my own practice was right behind it. From my parents who were exemplary business owners to my dentist and mentor who had his own practice, the thought of working for someone else was never an attractive option for me. Fast forward a few years post-residency with a lot of experience in the field of dentistry under my belt, owning my dental practice has become a dream realized.

There are many factors involved in opening your own dental office which can be both confusing and overwhelming. Knowing the correct steps to take can help you save a lot of time and money and keep you on track to starting your dream dental practice.

1.Knowing Your Budget

The average cost to open a start-up dental practice is more than most people think. Depending on your location, most start up practices range from $350k - $450k in total costs. Before looking at spaces, or meeting with equipment companies and other specialists, the focus should be on talking to banks and getting approval for a loan.

2. Finding The Best Location

The location of your practice is first and foremost the best method of exposure for your future office. You want patients and lead sources to find you easily and quickly. An experienced realtor in the dental industry is your best resource when locating a space. They will help you find a location in good proximity of your targeted patient demographic and within your budget.

3.Selecting an Architect and Contractor

Once a potential space is located, it is time to begin dialogue with an architect or contractor who are experts in the dental industry. An experienced architect or contractor will be able to point out any red flags or potential hazards within a space that can affect costs significantly. They can also help provide a preliminary construction proposal to ensure the project stays within your budget.

4. Receiving Equipment, Cabinetry, IT and Computers

Architectural plans take approximately 8- 12 weeks to be completed and approved from the local governing body. Within this time frame is when equipment, cabinetry and IT/computer bids should be selected and received.

5. Planning for Staff

The construction period takes anywhere from 60 to 100 business days depending on the locations and size of the project. During this time you should be finding the right employees for your practice size and making sure you have everyone you need to run your office come opening.

6. Double Checking All Licensing & Legal Needs

It is very important to not push this step back. It can take months before you can accept insurances and in addition, you will need to be licensed in your state, have a national provider identifier number, and register with the DEA. All this needs to be done before construction is finished so you can start practicing right away.

7. Marketing

Planning is key, get the word out any and all ways you can from Social media (Instagram, Facebook, Tik Tok, Snapchat), TV ads, prints ads, online ads, promotional events, etc. Develop your website so that it stands out but also simple enough for patients to schedule.

When planned carefully and properly managed, the process towards opening your new dental practice can be exciting and fulfilling.

In part, a Guest Post by Sasha Hewadpal & Araik Safarian at: Arminocoinc