The Dental MeTaMorphosis - The Profitable Dentist

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The Eubank Institute For Advanced Clinical Education essential occlusion for esthetics & function Dallas, Texas April 3–5, 2008 July 24–26, 2008 December 4–6, 2008 “ I have taken several occlusion courses from different instructors... Dr. Eubank is the first instructor to break down the concepts and make them easy to understand ‘and apply.’ He taught me step-by-step and gave me recipes for all types of occlusal issues.” —Dr. Beatriz Dennis “ These are unequivocally the best value CE programs I’ve had the privilege of attending! The step-by-step instruction is outstanding and delivered to small groups in a safe learning environment.” —Dr. Allen Bruley “ This occlusion course truly brought confidence, clarity and peace of mind to me. You have absolutely no idea how much you have helped to change my life. Thank you for everything!” —Dr. John Kling, II, FAGD, PC “ Dr. Eubank’s passion for giving and teaching others is a gift. His courses inspire me to want to get better and better... and I feel that there is not a better, more enthusiastic mentor for me to model my practice after.” —Dr. Brenda Jennings This is ‘the place’ to understand and implement the combination of occlusion and esthetics. - Dr. Jim Pierce DISCOVER WHY MORE AND MORE DENTISTS ARE TURNING TO THE EUBANK INSTITUTE FOR THEIR CLINICAL TRAINING AND EDUCATION “ Thank you for entrusting us with your clinical training and education. We pledge to do our very best to provide you with abundant opportunities to learn and thrive—not only while you are with us, but also as you begin to apply the principles you’ve learned in your practice. Sign Up Before March 31, 2008 & Save $250! —Dr. Jimmy Eubank Space is very limited and this program sells out every time! Sign up now before it’s too late. Call 888.596.1811 or visit www.therightfitdentist.com
PRACTICE MANAGEMENT Long Term Facility requirements: What’s Your plan? By George D. Vaill Doctor Blue in Tulsa had a terrific retirement plan. He’d had a small, but very successful boutique practice for many years and was very happy with what he had put aside. He felt safe that his financial future was secure. The plan earmarked funds for college tuitions and for supporting the level of lifestyle that he and his family had come to enjoy. He had even been able to set aside extra funds to build that fishing lodge on the lake that he had dreamed about his whole career. Unfortunately, what he had not counted on was losing his lease, being forced to move, and having to invest hundreds of thousands of dollars to construct a new dental facility elsewhere. He had not made any provision in his financial plan for that eventuality. So, to his great disappointment, that fishing lodge on the lake was sacrificed to fund the new facility – with only 4 years remaining before his retirement. In spite of all of his years of hard work and scrupulous planning, his fishing dreams went up in smoke. Could Dr. Blue have avoided this sudden and most drastic change in fortunes? The simple answer is “yes.” If he had set aside and regularly funded a reserve to cover any potential, major facility renovation or relocation, he might well have been able to pay for such a contingency without totally gutting his retirement portfolio. Developing a long-term plan for your practice commonly entails reviewing such issues as clinical methodology, personnel management and facility utilization. Frequently, however, dentists who lease their office space often fail to consider long-term occupancy requirements: (i) how long the facility they currently occupy will efficiently accommodate their practice growth plan; (ii) what changes in that occupancy may be forced by an expiring lease or may be required in order to achieve desired practice growth; and, (iii) what capital investment may be necessary – and should be budgeted – to fund changes that may be required in conjunction with a facility expansion, renovation or a planned or forced relocation. Any long-term planning that does not include such considerations accompanied by a budget contingency for facility capitalization is incomplete. Such a lack of anticipation and planning may well result in an interruption of your occupancy (and, thus, your practice) accompanied by an unplanned expenditure for facility replacement that significantly alters your financial model: a rude surprise indeed! Unless consciously negotiated with specific time frames in mind, office leases rarely provide the kind of flexibility that allows you to come and go at will in response to your growth plan. Therefore, it is paramount that you review your lease carefully to understand fully what occupancy rights (and obligations) you have and how they may affect your ability to carry out that plan in the years to come. Given the number of years you wish to work, the practice size you envision and the projected demographic basis required to support your plan, among other questions you must answer are: 1. How large a facility (and how much parking) will you require five years out? 10 years out? 20 years out? 2. Will your existing facility meet those needs over the long haul or will you likely require a facility change? 3. Does your lease contain terms that guaranty, obligate you to, or limit long term occupancy? 4. Does your lease contain renewal options of sufficient number and length with pre-negotiated terms offering transition increment opportunities that coincide with planned growth steps? 5. When is the ideal time to renegotiate term length and renewal options in order to best position yourself for uninterrupted occupancy – or for premature termination? If you are uncertain about your occupancy rights and obligations, a dental office lease professional can help you interpret your lease and provide expert guidance that will prove invaluable. Once you have answered these questions and determined how well your current facility and your lease provisions do or do not support your projected needs, you will be in a better position to plan accordingly and reduce the likelihood of that rude surprise. Leasing Space? You negotiate an offi ce lease once... Do it right! “With just one letter to our landlord, he got our rent lowered $500 a month!” —Dr. Woody Oakes, New Albany, IN To level the playing fi eld in your next lease negotiation, simply call 1-800-340-2701 or visit www.georgevaill.com/tpd/ Satisfaction Guaranteed! GEORGE VAILL DENTAL OFFICE LEASE NEGOTIATIONS iStockphoto.com/asiseeit 1 - 8 0 0 - 3 3 7 - 8 4 6 7 2 0 0 8 S P R I N G 2
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The Dental MeTaMorphosis - The Profitable Dentist

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