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Resource Center: Practice

By: Darla M. Pilgrim, EA, ATA, ATP, Partner, Gray Pilgrim and Associates, LLC
There is no one right answer for everyone. Sometimes it depends on what opportunities are currently available in the location you prefer. If there is an opportunity to purchase a practice that meets your goals then this may be a better option rather than starting from scratch. Some studies over the years have shown that the average dentist who purchased an ongoing practice...
Laura Cascella, The Medical Protective Company
Recent National Practitioner Data Bank reports indicate that healthcare-acquired infections (HCIs) have increased in ambulatory care settings. According to a guideline published by the American Academy of Pediatrics (AAP), “most outbreaks reported in outpatient settings were associated with noncompliance with infection control procedures.”1
By: The Consultants of Jameson Management, Compliments of Care Credit
This winter was brutal to most of the United States.  Snow storms covered the landscape and many days were spent with businesses shut down, including our dental practices. Now that we are thawing out and the warmer days of summer are coming our way, how can we march forward and make up for lost time, and lost production?
American Dental Association
It's human nature to think bad things happen to other people—not us. But thinking ahead to the possible is an important part of managing a crisis if—and when—it does occur. This guide is specifically designed to address the unique needs and concerns of today's dental professionals. Our focus is on nature's wrath, but many of the same principles apply to any crisis management.
By: Darla M. Pilgrim, EA, ATA, ATP, Partner, Gray Pilgrim and Associates, LLC
To oversimplify it, it has to financially work for the purchaser or it isn’t priced appropriately. If you would arbitrarily put a price of a million dollars on a practice and both the buyer and seller agreed to it but...
By: Darla M. Pilgrim, EA, ATA, ATP, Partner, Gray Pilgrim and Associates, LLC
Overhead has to be reviewed carefully to make sure that you are looking at it from the right perspective. To just quote one number could cause...
Click HERE for the full Virginia Board of Dentistry Regulations.
By: Rhonda Savage, DDS
I've always been a strong supporter of team incentive plans, and yes, they do still work. During 37 years in dentistry and in the consulting industry, I've seen motivated dental practices break production and growth records, regardless of the size of the practice. Without incentives, work can be just that: Work. Incentives can be fun, exciting and motivational, but bonus should be earned, not expected.What are some of my thoughts, regarding a well-done bonus plan?
Source: Virginia Department of Health Professions
PMP is a program of the Virginia Department of Health Professions (DHP) which licenses, regulates and disciplines Virginia’s more than 350,000 healthcarepractitioners across more than 80 professions including those who prescribe or dispense controlled substances. DHP’s mission is to ensure safe and competent patient care by licensing health professionals, enforcing standards of practice and providing information to health care practitioners and the public.
Making sense of claim rejections from third-party payers can be a little frustrating at times. With the onslaught of patients using new consumer-directed employee benefit plans, knowing how to correctly code procedures and responding to claim rejections has become even more important.
By: Mario Catalano, DDS, MAGD
Background: This edition of Malpractice Minute discusses a case involving an implant placed by a dentist who had limited experience with implantology, which resulted in injury to the inferior alveolar nerve and paresthesia.
The Medical Protective Company
Most healthcare providers know that a patient’s signature on an informed consent document may not automatically make the consent valid. The same is true of informed refusal. Both of these concepts rely on ethical and legal guidelines that acknowledge the right of competent adults to determine the course of their health care.
It is not uncommon today for dental benefit carriers and third party administrators (TPAs) to pay dental offices with a credit/debit card instead of the traditional paper check.  In fact, this trend seems to be more popular with TPAs than it is with traditional dental plan carriers and has created concerns for dental offices.
By: Darla M. Pilgrim, EA, ATA, ATP, Partner, Gray Pilgrim and Associates, LLC
This is very important, especially in a practice start up. The best way to know is to purchase a demographic study of the areas you are considering...
By: Darla M. Pilgrim, EA, ATA, ATP, Partner, Gray Pilgrim and Associates, LLC
Entity choice is a big decision. The entity that you choose initially may not be the entity that you stay with your entire career. Choices range from a sole proprietorship, a limited liability company (LLC), a partnership (LLC or not), a C Corporation or an S Corporation...
By: Darla M. Pilgrim, EA, ATA, ATP, Partner, Gray Pilgrim and Associates, LLC
Your largest area of expense is that of staff with related taxes and fringe benefits, so review this first to see if there are any ways to reduce overtime or unnecessary hours. Running your practice well by understanding how to manage..
A Teleconference will be held to share important information and resources with dentists to help them comply with the new requirement to enroll or opt-out of Medicare when prescribing drugs to patients covered by a Part D drug plans.
Click the resource below to begin download of content. Important Reminder for Employers Affordable Care Act (ACA) Requires Notification to Employees by October 1, 2013 Affordable Care Act and Oral Health Affordable Care Act, Dental Benefits Examined
Laird Harrison
An experimental nasal spray can provide maxillary dental anesthesia equivalent to a lidocaine injection, new studies show. The phase 2 trial of the spray in 45 adults was published online May 20 and in a July clinical supplement to the Journal of Dental Research...
The reasons dentists close their practices vary, including retirement, financial challenges or serious illness or death. If you are looking to close your practice, the ADA’s A Guide to Closing a Dental Practice, will help you through the process. It contains useful information to help you with the many details involved in ending a practice.
Laura Givens, VDA Director of Legislative & Public Policy
A final rule was published by the Centers for Medicaid and Medicare Services (CMS) in 2014 that requires practitioners who prescribe Part D covered drugs to be enrolled in Medicare or opt out for those prescriptions to be covered under Part D.  This means that neither the practitioner, nor the beneficiary submits the bill to Medicare for services rendered. Instead, the beneficiary pays the physician out-of-pocket and neither party is reimbursed by Medicare.
Darla M. Pilgrim, EA, ATA, ATP, Partner, Gray Pilgrim and Associates, LLC
Accounts Receivable is a very important item to keep track of to keep it from getting out of hand.  The work has been done, now all you need to do is collect the money.  Generally, once you bill the patient, it goes into accounts receivable and only gets zeroed out by a payment or a credit issued for various reasons.  Accounts Receivable is generally measured by age such as current, 31-60 days old, 61 to 90 days old; 91 to 120 days, and over 121 days. The older it is, the less likely you are to be able to collect, so earlier efforts generate more results.
Authors: Albert Guay, D.M.D; Matthew Warren, M.A.; Rebecca Starkel, M.A.; Marko Vujicic, Ph.D.
By: William P. Prescott, Esq., E.M.B.A.
The purpose of Joining and Leaving the Dental Practice is to educate you, your spouse and advisors on all important business, legal and tax planning issues relative to your practice succession or entry choices.  This book recognizes that in any form of practice transition, you have a silent partner, the IRS, specifically in the complex are of co-ownership discussed in Chapter 11.  Please enjoy and provide me with your comments, questions and suggestions. 
By: Darla M. Pilgrim, EA, ATA, ATP, Partner, Gray Pilgrim and Associates, LLC
When someone is disgruntled, they really want to be heard. The worst thing you can do is try to shirk responsibility by deferring blame elsewhere. They want to have a chance to vent and they want to be listened to without immediate consideration for your personal liability or need to be right.
By: Darla M. Pilgrim, EA, ATA, ATP, Partner, Gray Pilgrim and Associates, LLC
If you don’t manage them, they will manage you. Most dentists don’t like to manage their team because they don’t like conflict. They want to be liked...