Return to flip book view

A D R E A M I S A W I S HY O U R H E A R T M A K E SC E L E B R A T I N G T H E S P I R I T O F V O L U N T E E R I S MT H EF R O M W E S T E R N C A N A D A ' SL E A D I N G D E N T A L B R O K E RM A G A Z I N EI S S U E # 1 9 • A P R I L 2 0 2 4L I S T I N G S O N P A G E 1 0

Page 3 - Ask The Expert:What To Expect In 2024Page 6: Celebrating theSpirit of Volunteerism Page 7 - A Dream is aWish your Heart MakesPage 11 - Benchmarkingyour Practice Page 14: Wave Goodbyeto X-Rays Page 16: Is it Loud inHere? Page 19: New Degree atUSask Dear Readers,April showers bring May flowers, so the saying goes - but it feels littlemore like April snow will never go!! It’s been a strange mix of warm and cold weather, like spring has beenstarting and stopping. It’s also been a strange mix of factors in thedental world. Everyone was warm to the idea that the interest rateswere going to lower but the BOC put a freeze on the rates, with a coolidea of deferring a decision until the next quarter. Honestly, this decision (or non-decision) from the BOC has had littleaffect on movement in the dental world. Sales are heating up far andwide. Corporations are putting the thaw on areas they had previouslyfrozen. Buyers are finding themselves in a hot market and sellers areseeing warm responses to their offerings. Perhaps its the arrival of spring that has so much action popping up inthe market, or perhaps it’s just the natural ebb and flow of the marketplace. Either way, it’s a welcome trend after a challenging year. Italmost feels like things are waking up again. I hope April is finding you with a new spring in your step, shaking offthe winter blues (despite the lingering snow) and waking up to arapidly heating market place. Wondering how you fit into this warming environment? Give me a callto learn more about what’s happening in the market place and how youcan benefit from this ‘new growth’! Wishing everyone a very happy spring! Darren CEO's MessageLooking ForFeatured Practice Listings?www.AvailDentalAdvice.comTHE DENTAL DESK MAGAZINE  | 2Founder, CEOAvail Dental Exit Advisory ServicesD A R R E N S H A N A H A NCLICK HERE

Ask The Expert:D E N T A L I N D U S T R Yby Darren ShanahanFounder & CEO of Avail Dental ExitAdvisory Services & has been in theindustry for more than 10 years.What’s To Come In 2024www.AvailDentalAdvice.comTHE DENTAL DESK MAGAZINE  | 3

Question: Do you have experience working with specialties(i.e. periodontics, prosthodontics, endodontics etc)? Answer: We have considerable experience with all of thesespecialties and more. In addition to these, we also work withmaxilla facial surgeons, cosmetic spas, chiropractic andmassage therapy clients, pharmacy, optometry, ophthalmology,veterinary and much more. We specialize in all health relatedindustries. At Avail we pride ourselves on offering diversifiedproducts for diversified specialties. We even have a dedicatedrep, Lori William, who works on a national level with ourorthodontic clients.Question: How much should I be spending on advertising? Answer: The answer to this question is somewhat fluid. Maturepractice that are not looking to expand hours, not looking foradditional patients will not need very much advertising(assuming they have a thriving hygiene program). If thepractice is looking to grow from 1m to 3m, and you want to doit quickly - you may need to invest 100-150k in different types ofmarketing in order to attract enough new patients. The bottom-line is that there is no one-size-fits-all answer to this question.There are many factors to consider. I recommend speakingwith someone that can look at your entire financial situation,production reports and future plans. An advertising plan can bedeveloped based on these and other factors. That said, theaverage investment is between 1-2% of gross income in amature, stable practice.CANDID COMMENTARY ON PRACTICE VALUATIONASK THE EXPERTNeed some personalized,confidential advice?Book A Call With Darren.Book A Call With Darren.We can help.We can help.CallWithAVAIL.comCallWithAVAIL.com

Question: Should I have new staff contracts done before selling? Answer: This question repeatedly comes up in my world. I personally believe that staffcontracts are extremely beneficial, however timing is everything. If you currently usecontracts and you have some staff that have not currently signed, then you shouldmake sure that all of your staff have signed contracts. However, to just blanket requestall staff to sign new contracts, could raise suspicion from your staff about thepossibility of an upcoming sale. Sadly, many owners still do not have written contractsfor staff which leaves them vulnerable.THE DENTAL DESK MAGAZINE  | 5ASK THE EXPERT CON'T:Question: This might be a loaded question, but what should my target be for hygieneproduction in my clinic?Answer: You’re correct - this is a bit of a loaded question. Hygiene is a hot topic rightnow, between a shortage of hygienists and the new government dental plan. That said -hygiene production, in very general terms, varies from 20%-40% depending on the type ofpractice, the location, the current growth model and any additional specialty work donein the practice. To find out what your hygiene target should be for your practice, werecommend a benchmark review. This valuable assessment provides insight intohygiene requirements as well as key spending indicators and whether they are helping orhindering your profitability.

C E L E B R A T I N G T H E S P I R I T O F V O L U N T E E R I S M BY YV ETTE SHANAHAN National Volunteer Week is celebrated annually during the third week of April. This week-longcelebration is about placing a spotlight on inspiring figures whose invaluable seeds of kindnessthrough volunteering are bettering the community and our world in general. It also challenges us todo better and look for ways to be active participants, joining hands to impact our local communitiesand calling for more support. This provides the perfect opportunity to spotlight the diverse avenuesof volunteerism, particularly from those in the dental field. It is a way to acknowledge these goodworks and to say thank you for your leadership in volunteerism. Thus begins a year long segment in the dental desk, celebrating and highlighting the many volunteeractivities that so many dental industry professionals are involved with. Our inaugural article on volunteerism highlights Ms. Tina Copp. Tina is a Senior RelationshipManager, CFS, Healthcare professionals with RBC in Edmonton. Tina is also a volunteer with SpecialOlympics Canada. Tina is a very talented professional with an unparalleled focus on customerservice, but it is her work with Special Olympics that we celebrate today. Tina is generous with hertime and talent, and is truly a role model of volunteerism! Congratulations, Tina, on all of your good work with Special Olympics and thank-you for sharing yourstory with us. If our readers would like to nominate a person or group to be recognized for their volunteer works inthis publication, please contact Yvette Shanahan. yvette@availdentaladvice.com THE DENTAL DESK MAGAZINE  | 6

A D R E A M I S A W I S H Y O U R H E A R T M A K E S BY TINA COPPThat is some profound Disney wisdom for you. In my professional life, I get to help healthcareprofessionals make their clinic ownership dreams come true. These are good dreams and goals tohave but what about life outside of work? Community work has allowed me to help people make theirpersonal dreams come true. Over the years, I have had the privilege of spending time volunteering with several great organizations… Habitat for Humanity, Ronald MacDonald House, United Way and the Edmonton Food Bank to namea few. Some of the best moments have come in the 24 years I have been volunteering with SpecialOlympics. I have had the honour of coaching some incredible athletes as they have competed locally,nationally, and even internationally. Beyond coaching, I have leaned into my administrative skills (yes,bankers do love paperwork!!) and have jumped in to assist with the work that comes with helpingTeam Alberta and even Team Canada get ready to participate at games. Most recently, I have beenspending a few weekends leading workshops for Special O coaches wanting to gain skills and helpthem coach our athletes. All of these things provide me with an opportunity to learn and growpersonally and professionally. At the root of it all, though, is helping the athletes to make their dreams of competing become reality.That message was driven home in the most profound way last June 2023 when I travelled as aMission Staff member with Team Canada to the World Summer Games for Special Olympics in Berlin,Germany. Opening Ceremonies are always a highlight of every games experience for me. Close youreyes for a moment … picture yourself walking into a stadium that has an estimated 40,000 peoplecheering on our athletes as they walk around the track. Continued THE DENTAL DESK MAGAZINE  | 7

All of them wearing their nations’ team uniforms proudly. 6000+athletes from more than 100 countries around the world (the bestapplause and cheers came when Team Ukraine came in – I still tear upthinking of that moment) … 3500+ coaches and volunteers joining them.In many ways, it was a dream come true for me. The athletes’ oathbeing repeated on stage in several different languages. “Let me win, butif I cannot win, let me brave in the attempt.” As a volunteer, I get to helpour athletes be brave in the attempt. That takes training, opportunitiesto compete, financial support and time. Time is a precious commodity for all of us but the pay back you get isincredible. It doesn’t necessarily mean giving hundreds of hours, itcould be just a few hours to help a student learn to read. It could be aweekend spent at a Scout Camp. It could be one hour a week at aNewcomer’s Centre helping them learn to speak English. It could betime spent at a rink, coaching kids who are learning the game ofhockey. So many organizations, so many great opportunities to giveback. Many thanks to Avail for taking time to recognize the importance ofcommunity work and the profound impact that each and every one of uscan have in the world around us. I encourage you to find what makesyour heart happy … helping others make their dreams come true will payoff in ways you cannot even imagine. A DREAM IS A WISH YOUR HEART MAKES - CONTINUED If you'd like to discuss your practice, give us a confidential call!1-866-Go-Avail (1-866-462-8245)

Special I ran my race the only way I know. I catch my breath and feel the afterglow. And, though I lost, I’ve come to understand, Victory’s grasp may one day hold my hand. The final contest’s over and it seems, That win or lose, we have fulfilled our dreams. For strangers into friends we all have grown. We stand as one, where once we stood alone. The flag unfolds amid a mighty cheer. The crowd applauds, the cheek receives a tear. And though I may not run as others do, It’s nice to know that I am special too. If fate should call on you to join the fray, Let not some ‘imperfection’ bar the way. ‘Dare to Dream’, and to that dream be true - And you will find your country dreams with you! © Terry McGarry Written as a tribute to Special Olympians SPECIAL

B E N C H M A R K I N G Y O U R P R A C T I C EBY DARREN SHANAHAN Benchmarking is the practice of comparing business processes and performance metrics to industrybests and best practices from other companies. When it comes to your practice, you spend the bulk of your time in the chair and beside your patients -where you should be. You track many things in your practice from daily production goals, new patients,active patients, hygiene recalls, and much more - or much less. Depending on how you want your practiceto perform, you will generally measure what you want to track. But, what are the other things you shouldbe tracking? By seeing so many practices we get asked these questions all the time from owners: What is a goodnumber of new patients? What should the hygiene percentage be in my practice? What should myoverhead percentage be? Understanding your key metrics, how they correlate to a great patientexperience and contribute to the overall profitability will help you keep your value headed in the rightdirection. Today’s dentist has more sophisticated tracking tools however you need to make sure you are trackingthe right things. Much like most things, those things which you focus on, your staff in turn will typically focus on it as well- but what items should you be focusing on? If you are looking to increase the value of your practice you should be learning which expenses are withinyour control and what your targets should be. We have seen some practices that have lost $200k -$500kin practice value because they didn’t start watching the bottom line and controlling spending on certainline items. THE DENTAL DESK MAGAZINE  | 11 www.AvailDentalAdvice.com

BENCHMARKING YOUR PRACTICE - CONTINUED www.AvailDentalAdvice.comTHE DENTAL DESK MAGAZINE  | 12This could easily have been identified by understanding which items to track and how to track them.Unfortunately, these items are not the same for every practice so you need to understand which benchmarks are relevant for your practice. Understanding your practice’s benchmarks can help you to control your profitability early and canprevent you from missing out on ways to increase the value of your practice. We have seen time andtime again, the tale of two practices; one with controlled expenses and meeting their specificbenchmarks and the other with expenses which are not properly controlled and not meeting theirspecific benchmarks - and the value of each of these practices can differ dramatically. It’s a cautionary tale. We have witnessed up to a $1 Million dollar value difference between two practices doing the samegross production, all because there was not a clear understanding of the individualized benchmarks. We strongly recommend that you endeavour to fully understand what your specific benchmarks are,and how to adjust them to ensure that you get the most out of your hard work. We’re here to help and answer your questions. Call us for more information on our popular benchmarkreview!

LAUGHTER IS THE BEST MEDICINE!

W A V E G O O D B Y E T O X - R A Y S A N D S A Y H E L L O T O T H E F U T U R EW I T H I N T R A - O R A L P H O T O G R A P H Y Okare's intra-oral photography system is revolutionizing dental diagnostics, offering precision, cost-efficiency, and enhanced patient care. Let's dive into how this innovative technology is reshaping thedental landscape.Precision Perfected:Okare's intra-oral photography system provides unparalleled clarity, capturing high-resolution imagesdirectly within the oral cavity. This enables dentists to practice preventative care with exceptionalaccuracy, from small cavities to hidden abnormalities. With Okare, every detail matters, ensuringcomprehensive and precise diagnosis for optimal treatment planning.Savings in Sight:Transitioning from traditional X-rays to Okare's digital platform not only improves diagnostic accuracy butalso saves costs for dental practices and patients. By eliminating the need for film, processing chemicals,and maintenance associated with X-rays, Okare reduces overhead expenses significantly. Additionally,the decreased radiation exposure minimizes potential health risks for patients, resulting in long-term costsavings in healthcare expenditures.Treatment Precision:Okare's high-definition images and real-time visualization empower dentists to plan treatments withunparalleled precision. Whether it's restorative procedures, orthodontic interventions, or periodontaltreatments, Okare ensures that clinicians can address dental issues effectively and efficiently. WithOkare, every treatment is tailored to meet the unique needs of each patient, resulting in optimal outcomesand patient satisfaction.THE DENTAL DESK MAGAZINE  | 14BY MCKENNA BARR

Prevention as a Superpower:Beyond diagnosis and treatment, Okare facilitates proactive dental care by enabling comprehensive patientmonitoring. By storing patient records digitally, dentists can compare intra-oral photographs over time,identifying potential risk factors and addressing them before they escalate. This proactive approachemphasizes preventive measures, such as early intervention strategies and patient education, to promotelong-term oral health and well-being.Okare's intra-oral photography system represents a significant advancement in dental diagnostics, offeringprecision, cost-efficiency, and enhanced patient care. By replacing traditional X-rays and integrating them withdigital record-keeping, Okare aligns with the industry's shift towards digitalization and preventive medicine.As dental practices embrace Okare's cutting-edge technology, they stand to improve diagnostic accuracy,optimize practice management, and elevate the standard of care for their patients.We promise you’ll have no bad sides with Intra-Oral Photography! W A V E G O O D B Y E T O X - R A Y S - C O N T I N U E D THE DENTAL DESK MAGAZINE  | 15

I S I T L O U D I N H E R E ? T H E A R T O F S E E K I N G G O O D M A N A G E M E N T P R A C T I C E S A N D B L O C K I N G O U T T H E N O I S E I’m on a break. Unlike Ross and Rachel (‘Friends’ fans will appreciate this reference) it’s not a total break-up,it’s just a break. For my mental health I have to take a break from social media - LinkedIn especially. First, let me say that there are many great things about social media, and LinkedIn specifically, but my head isswimming and I need a break. I am the kind of person who enjoys research. I love digging into areas of interest and feeling like I’m on somekind of archaeological dig making precious discoveries and then sharing them in my circle. In particular, I lovelearning new management styles and strategies, or HR insights to ‘new workforce challenges.’ In general, Ienjoy the wisdom of Simon Sinek and other gurus who seem to have cracked some secret code on ‘happywork, happy life.’ However, recently, it feels like there is so much ‘noise’ in this space. Every day a new expert can be found ontheir soap box telling you all of the ways you are doing it wrong. I literally read 3 articles back to back listingall of the ways my generation has a wrong work-ethic, wrong business practices, wrong management stylesetc. Additionally, these articles indicate that my generation is greedy, short-sighted and reckless. WOW! Seriously? Is this where management insights are heading - finger pointing, accusations and zerostrategies for engaging a potentially disenfranchised workforce? I felt so beleaguered after reading these articles that I had to take a break for a couple of days. Unfortunately,when I returned to the space I found more of the same. So, I’m on a break. The constant negativity is simply too much. I imagine I am not alone in feeling like this. Honest people, doinghonest work, making an honest effort to do their best for their life, their family, their business, their employees- they aren’t doing everything wrong. Continued THE DENTAL DESK MAGAZINE  | 16BY YV ETTE SHANAHAN

Here is what I know for certain. In management, as in life, if you are seeking to learn - you will learn. You may learn newtechniques, or new management styles but you may also learn that just maybe you have been doing it right (or mostlyright). You may learn that by asking yourself to do your best, you truly are doing your best. And you may find that youryears of life and work experience just might make you wiser in your business than any popular guru of today. There is always room to grow, room to expand your knowledge and room to understand new generations and this is aroad that goes both ways. The onus is not on one group or another, but on both to find the middle ground, the commonground. In our business, we have 13 people on our team. Some are area reps and some are involved in day to day operations.Our workforce is entirely remote which poses many challenges when trying to feel unified and team like. We are asmall business and we try to operate with both structure and flexibility. In many ways we are similar to any otherbusiness model. I invest significant time into finding ways to unify and engage our (diversified in age, experience and geography) team.Sometimes I get it right and sometimes I miss the mark. I speak with fellow business owners, share my struggles andcompare best practices. This is where I learn the most. But I do seek out the wisdom of popular gurus and listen to‘expert opinion’ too. So if you are like me and are finding yourself needing a break from all of the ‘expert opinion’ noise, remember this: giveyourself grace. Take the break you need, and in the quiet, review your own best practices. You just might find this quietplace will give you new insights, new strategies and a little piece of mind that you are not doing it all wrong. Mostimportantly, blocking out the noise might give you some peace in your mind and peace in your heart, which ultimatelytranslates into ‘happy work and happy life.’ IS IT LOUD IN HERE? - CONTINUED THE DENTAL DESK MAGAZINE  | 17

Darren Shanahan,Darren Shanahan,CEO & FounderCEO & FounderCorinne MarkCorinne MarkLéoLéo MorrisonMorrisonAngiAngiMcGarryMcGarryMEET THE TEAM AT AVAIL:Western Canada's Leading Dental BrokerJessie McCrackenAndrewJonesSaraSaraTrennTrennComing Soon!Coming Soon!LoriLori WilliamWilliam National Ortho RepNational Ortho Rep1-866-Go-Avail (1-866-462-8245) AvailDentalAdvice.com

N E W D E G R E E A T U S A S K A I M S T O A D D R E S S T H E D E N T A L H Y G E N I S T S H O R T A G E The aging dental hygiene workforce in Saskatchewan, along with the increase in population, underscores theurgent need to cultivate and expand the next generation of dental hygienists. A 2023 survey conducted for theCanadian Dental Association found that nearly 500,000 dental appointments over two months had beencancelled across Canada, due to staff shortages. According to a 2022 report by American Dental Association,31 per cent of dental hygienists plan to retire withing the next five years. With only one existing certificate program in the province, the demand for dental hygienists far exceeds thecurrent number of hygienists entering the workforce. “This shortage not only puts a strain on the oral health care system but also leads to the departure of manyaspiring hygienists who seek education in other provinces, but do not return to practice in Saskatchewan,” saidDr. Walter Siqueira (DDS, PhD), dean of the College of Dentistry. The college aims to address the shortage head-on with the creation of a Bachelor of Science in Dental Hygieneprogram that will admit 18 students annually, beginning this fall. “The program’s design includes an innovative evening class schedule that will run from 5 pm to 10 pm. Thisaccommodates individuals with full-time commitments, allowing them to pursue education without sacrificingtheir employment,” said Siqueira. “This approach not only facilitates access to education but also supportsstudents financially, as they can continue working to pay for their tuition—a first-of-its-kind initiative inCanada.” The new dental hygiene program is direct entry, meaning students may enter from high school, subject tomeeting admissions requirements. THE DENTAL DESK MAGAZINE  | 19THE COLLEGE OF DENTISTRYAT THE UNIVERISTY OF SASKATCHEWAN

YOUR TRUSTED INDUSTRY PARTNERDid you know that for over 2 decades, our Founder, Darren Shanahan, hasbeen in the dental industry as the "go-to" for other industry professionalsand leaders? Every phone call that comes into our office is about a dental or healthcareclinic. We don't work in any other industry.We provide owners with a "firewall" to protect them from all of the pitfallswe know are out there throughout a transaction because we know how toprepare the deal and navigate the waters. We're here for you.Meet Our TeamDarren ShanahanCEO & FounderYvette ShanahanCo-FounderLogan ReynoldsTransaction SpecialistJennifer LarocqueTransaction ManagerMorgan MinkusTransaction SpecialistQuestions?Call 1-866-Go-Avail (1-866-462-8245) orvisit: AvailDentalAdvice.com

THE DENTAL DESK MAGAZINEB Y A V A I L D E N T A L E X I T A D V I S O R Y S E R V I C E SThe Dental Desk Magazine runs on a monthly basis to keepstakeholders in the dental industry in the loop.Avail Dental Exit Advisory ServicesProudly Serving Western Canada (Alberta,B.C. & Saskatchewan)1-866-Go-Avail (1-866-462-8245)www.AvailDentalAdvice.comMay 2024 Come back for Issue #20 which will reveal industryinsights, predictions and trends for Spring.