Webinars & Business News

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Keep up to date with our Business Solutions webinars throughout 2021 and the latest business news

Learning Opportunities

Date: 26 May 2021

Time: 7pm-8pm

Hosts: Henry Schein Business Solutions, Henry Schein Financial Services and Spot On Business Planning

 

In this webinar we have not just one but two of our Business Solutions partners: Henry Schein Financial Services and Spot On Business Planning. Both of our partners will discuss how they can help you to achieve financial success using various approaches including reviewing current loans, strategic business planning, understanding your business numbers and competitive finance options for those important purchases.

 

Save Money, Maximise Profit with Henry Schein Financial Services

 

Overview

• Competitive finance to purchase dental practices

• Review your current practice acquisition loans – potential cash savings

• Wide range of competitive facilities for equipment purchases

 

Planning for Control & Success with Spot On Business Planning

 

Covid hit unexpectedly and fast. Its immediate impact and longer-term implications made dental business owners realise:

• That they aren’t close enough to their numbers

• That their particular business model had implications on their ability to weather the storm

• That cash can run out quickly

• That they did not ‘run’ their business, it ran them

• That visibility and control – a plan – reduced risk and stress!

 

In this short webinar and using real examples to illustrate, Andy McDougall and Anne-Marie Houston from Spot On Business Planning will take you through the four stages of business planning, and how understanding and influencing your business numbers leads to financial success and reduced stress.

Whether you are just starting your career as a dental practice owner or looking to maximise your exit value – and every scenario in between – you will find this webinar thought-provoking and transformative to your approach to dental business management.

 

Click here to register today

Date: 25 August 2021

Time: 7pm-8pm

Hosts: Henry Schein Business Solutions and Dentally

 

How are patients going to engage with your practice as restrictions are reduced? Will they still expect a contactless journey or not? The post lockdown world prompts many questions and we are here to help.

Join Ross Drynan, Dentally’s Customer Success Manager, as he shares some simple and effective steps to help reduce patient effort, communicate effectively all whilst driving business success through best practice.

 

This webinar will cover the following topics: 
•    Reducing patient effort
•    Communicating effectively 
•    Driving business success 

 

Click here to register today

Date: 29 September 2021

Time: 7pm-8pm

Hosts: Henry Schein Business Solutions and Petaurum HR

 

Synopsis
It’s amazing to consider that a significant business investment, such as a new building, equipment or technology, would never be made without a business case setting out how it will be utilised and a return on investment realised. 

So why is it, that given the investment Practices make in their people (salary, pension, benefits, training etc.) many don’t have a clear people plan; one that will align their activities with business success. Simon Sinek famously wrote in his book on inspirational leadership “If you hire people just because they can do a job they will work for your money; but if you hire people who believe what you believe, they’ll work for you, with blood sweat and tears.”

This embodies the true value of HR and this webinar will explore how the right HR support and advice can add value to your Practice, from ensuring that you comply with all your legal obligations as an employer, through to understanding you and your business, not only now but for the future.  The ‘human’ aspect of HR is too often missed - join this webinar to find out how to put your people at the heart of your success.

 

The webinar will cover the following:

  • Dispelling some common HR myths
  • Your legal obligations as an employer
  • Common HR pitfalls and how to avoid them 
  • Putting people at the heart of your success

 

Click here to register today

Date: 28 October 2021

Time: 7pm-8pm

Hosts: Henry Schein Business Solutions and Mark Topley - The CSR Coach

 

Synopsis
The CSR Advantage addresses your business’ next big challenge and how to turn it to an opportunity.

You can't ignore the fact that society is becoming more critical of businesses that fail to 'act responsibly’.
Patients and staff are looking at you for the hallmarks of a trustworthy business - positive work culture, environmental responsibility and a role in the community and with charities.

Whether you consider yourself ‘charitable’ or not, you cannot argue with the numbers - 88% of consumers now expect social and environmental responsibility as an integral part of every business - no matter how big or small.

This webinar will explain how CSR helps us create a responsible, purpose driven business where people love to come to work, and patients love to attend. CSR is all about taking a structured, intentional approach in a carefully planned way, so that the business cares for its people, the environment and the community. It creates a deep satisfaction that comes from knowing that you are part of something which does the right thing - every single day.

Mark Topley will explain how, as well as showing you the simple, practical steps you can take, no matter your starting point.

Aims
To give attendees a grasp of the fundamentals of CSR and inspire them to take action and take a structured approach to caring for their people, their environment and their community.

Learning objectives
During the presentation, attendees will learn:

  • What CSR is, and the five areas of impact - People, Charity, Community, Environment, Communications
  • Why CSR is important for patients and potential patients looking for a dentist they can trust
  • Why it’s important for attracting and retaining high quality, purpose driven people, especially those under 35
  • How to cover all the areas of CSR without having to become an expert in a quick, simple and effective way that takes the thinking off your desk


GDC learning outcomes (A,B,C,D)
The presentation links closely to the 'well led’ Key Lines Of Enquiry for CQC - setting culture, strong leadership, an engaged team etc. For ECPD, it sits firmly in Development Outcome B.

Speaker bio 

Mark Topley helps business owners and managers to grow their leadership, teams and business with CSR. 

Mark is the former CEO of Bridge2Aid, a qualified educator and a Fellow of the Institute of Corporate Responsibility and Sustainability Professionals. His vision is for every business to be purpose-driven and responsibly-led. 

He sits on the judging panel for the Dental Industry and the Private Dentistry Awards, and writes regularly at TheCSRCoach.uk

 

Click here to register today

Overview

The team's roles in practice have changed a great deal in the last few years.

With the emergence of new technology and a great emphasis on incoming leads via online enquires traditional tasks have now been shared across the team members in the practice.

The role of the traditional receptionist has changed somewhat. 

Even the role of the Treatment Coordinator is multi-faceted with many TCOs working in advanced ways, using their dental nurse skills to support the patients and dentists.

In this webinar, Laura Horton will discuss how the roles of the front of house and the treatment coordinator can now cross over and interlock to support the conversion of patients through online enquires and retention of patients

 

Laura will share with you her top tips for:

  • Handling and converting online enquires 
  • Retaining patients through practice membership plans once they have attended an appointment in the practice

 

Watch the webinar here

For more information submit an enquiry here

This is not about CQC!... but is just as important.
 
Crysp takes away the headache of caring for your property compliance needs, bringing the perfect blend of an intuitive digital compliance platform and human expertise, aptitude and support including e-Learning, your annual Statutory Fire Risk Assessment and Workplace Health & Safety Audit, and for a limited time, our Covid-19 Risk Assessment to ensure your workplace is both safe and secure. 
 
We exist to create safe spaces for your colleagues and customers. How? By putting compliance at your fingertips through a customisable dashboard that gives you total sight of your organisation's compliance and risk status in one place, including the physical element of your statutory workplace inspection.
 
Watch the webinar here

For more information submit an enquiry here

Articles

Why have a dental practice valued every year?

 

Following on from the top 10 reasons to value your dental practice, it would be good to explain how the process works and what the result is.

 

Every practice owner should have their dental practice valued yearly, as this will help them stay in tune with the market and take action to achieve a desired outcome. If you start with this process early in your ownership tenure, you will feel more in charge of the end result then leaving it to the last few years. To put this into context, if each year during your ownership you improve the profit by 10%, in 20 years your profit would have grown by 215%. 

For more information view the full article here

Exiting the business – what practice owners need to consider before deciding to move on

 Peter Cummings explores the options for dental practice owners who are thinking about a fresh start

Deciding on the right time to exit your business is one of the most important decisions you will make in your life. For many practice owners, it is also a deeply personal choice. Running a practice is an emotional investment as well as a financial one. There are many factors to consider before taking steps to move on and the prospect can be daunting. However, it is a prospect which has been in the minds of many practice owners recently as they look to evaluate their assets and protect their futures. At MediEstates, we have been providing free tailored advice to dentists who are either looking to sell immediately or who simply want to consider their options and enhance the value of their practices.

First steps

Taking the initial decision to exit can be the most difficult step. The motivation to leave will be unique to each practice owner and some may find it easier to let go than others. Dentistry is not just a job; it is a profession that takes dedication and years of hard work, particularly in relation to building an established practice with regular patients and loyal staff. However, I have spoken to many dentists recently who are dissatisfied with the current industry landscape. Many would prefer to depart from increasing levels of bureaucracy which leaves less time for patients. The controversial COVID-19 protocols have exacerbated the situation and now a growing number of practice owners are weighing up their options. The prospects of part-time hours, fewer responsibilities and less stress are more attractive than ever. In addition, a currently strong buyer’s market makes conditions favourable for successful sales, but owners need to carefully consider their options.

For more information view the full article here

Strength in numbers – the benefits of investing in multiple practices

Scott Gidman explains why it is a great time for practice owners to expand their business portfolios

At MediEstates we are seeing a flourishing market for a certain group of buyers with the will and means to increase their number of practices. Perhaps surprisingly, the fastest area of growth is not in corporate but in the mid-market, proving the time is ripe for entrepreneurial enterprise despite the difficulties many in the industry have faced this year.

 

Who are mid-market buyers?

This broad definition includes individuals and small groups with at least one practice. Some are non-dentists or retired clinicians with a specific interest in expanding their practice portfolios. Individuals or groups with between two and ten practices will often situate themselves in central locations with a higher population density. The advantages of this are clear, not only for greater patient numbers but also for more recruitment options.

The importance of location

Understanding location can significantly enhance growth potential. Location will almost certainly affect the type of treatments a practice can offer and the level of growth which can be realistically achieved. MediEstates compile comprehensive reports on locations and pricing that provide valuable insights into population density and earnings within specific areas. We also provide information on property values and calculate rental yields for practice owners aiming to rent their business properties. When we build our client’s tailored business plan, we include the rental figure for more accurate forecasts, giving the buyer greater financial visibility before applying for loans or finance.

For more information view the full article here

Careers in dentistry involve their own unique ups and downs, but along the way all dentists pass similar milestones. From first picking up a mirror and probe as a student, all the way through to retirement, Henry Schein has a Business Solutions partner to support you, every step of the way.

 

Starting out, the student years

Along with the excitement of the early years can come the most daunting of challenges and this is when young dentists often first realise they need a little help. Our Business Solutions partners offer training and development opportunities that provide dental professionals with a range of recognised, accredited and certified training schemes and qualifications. Our Special Markets division works closely with universities and dental schools, providing advice on the best equipment as well as materials for you to complete your training, giving you a head start when the time comes to embark on your dental career.

 

The Foundation Year

Entering the real world after five years at dental school is a huge transition. Business Solutions partners can ease the change from student to professional, avoiding anxiety and some of the potential pitfalls that might befall a newly qualified practitioner. Job seeking can be a daunting task for newly qualified dentists, but MediCruit, a Henry Schein Company and the UK’s largest dental job agency, are perfectly placed to help you secure your first job. With over 15 years of matching candidates with their ideal job, MediCruit can also help you write CVs, prepare for interviews and offer support where required. A high priority for dentists starting out is finding the right dental insurance and Henry Schein Business Solutions has insurers and cover to suit all individuals.

 

Growing and developing as a dentist

Now well established in clinical practice, you are ready to grow and progress your career. Education is a vital cog in your career wheel and all dental professionals need to update their skills, knowledge and behaviour throughout their working life. Henry Schein Business Solutions puts dentists and DCPs together with the best Continuing Professional Development (CPD) programmes to support and contribute to the delivery of high-quality care and service provision. Companies offering courses aimed at practice and personal development as well as clinical topics covering everything from core CPD, basic dental essentials, equipment, surgical, implant and digital dentistry are all available via Business Solutions. Plus the Henry Schein website makes ordering our wide range of consumables, small equipment and workwear easy.

 

Becoming a practice owner

As a well-established, experienced dental professional you may be looking to buy your first practice. MediEstates can guide you through this process from helping to secure a mortgage, to asset finance for capital equipment purchases.

With Henry Schein showrooms across the country, viewing equipment before purchase has never been easier and if you are set on building your own practice we have a team of project managers to assist you, along with a surgery design facility to help you see your new practice come to life in a 3D rendering. Once you are officially a practice owner you will need to consider a practice management system to help manage patients; with Software of Excellence from Henry Schein, you can fully automate a number of internal processes to enable your practice to run smoothly and track the health of your business.

Many practice owners also seek out expertise to help with practice tasks such as off and online marketing. By working with a Business Solutions partner in this area you know you are dealing with competent, reputable experts in these often complex fields.

Once your practice is up and running, we can also help you to reduce your overheads, including processing of card transactions, HR, clinical waste and much more. Plus we can take the stress out of juggling your clinical job with running a business with IT, HR, accounting, recruitment and pension scheme support. Another time-consuming challenge is meeting your compliance obligations. This is one of the biggest headaches and being able to relax, safe in the knowledge that your practice, patients and employees are protected by a trusted third party supplier that offers reliable solutions in all areas of regulation and data protection is very important. If you want to improve the performance of your business, our ‘best practice’ advice puts practices on the right track for sustainable, long-term growth and prosperity. Business health checks with your sales consultant make sure you are on the right track and maximising your treatment mix, appointment bookings, hygienists’ time and equipment.

 

Branching out as a multi-practice owner

Many dentists are increasingly progressing to ownership of multiple practices and we can help in developing mini-groups. The leap from being a single to multiple practice owner can seem somewhat daunting. You have gone from being an integral part of your own business with your finger on the pulse of everything that happens to suddenly looking after several practices that have different processes, use different materials, have different suppliers and systems in place and possibly a different work ethic. We can help your transition into a small corporate business by giving you the tools and data you’ll need to be able to manage your group in the most efficient way.

You can manage your practice group through Mypractice Cloud, which allows you to connect your practice management system across all your separate sites into one centralised location. By providing detailed feedback on dental businesses, accounts analysis, finding serviceability issues and giving insights into bank “stress testing”, selected Business Solutions partners can guide you through the whole process. Our partners help dentists to optimise their business performance, maximise revenue, attract new patients and increase conversion rates, helping patients to have the treatment they want, all with a dedicated sales consultant for our mid-market customers.

We can also help you rationalise your supplier base so that you are not dealing with numerous companies for the same service, for instance clinical waste, card services or insurance. As a Henry Schein customer you can access these services through our business partners and benefit from preferential corporate rates and services that you couldn’t secure yourself.

 

Planning for your retirement

When the time finally arrives Business Solutions can help you to solidify your exit strategy. It is crucial to plan this years in advance as it allows you time to maximise your practice value when looking to sell. MediEstates will work with you to plan your exit strategy, along with guiding you through the complex selling process, there to help every step of the way. With extensive market knowledge our partners help practice owners to achieve the highest sales price possible when the time is right to sell their business.

Lunchtime Lockdown Webinars

 

Organised by MediHoldings in partnership with Spot On Business Planning and the BDA, the Lunchtime Lockdown Webinars are helping thousands of dentists and business owners through an exceptional year of hardship and unpredictability.

 

Catch up now on the latest edition The Second Wave

 

In this packed edition, our dental and business experts keep you up to date on market activity and provide valuable advice on how to prepare for the winter spike in COVID-19 and the possibility of future lockdowns. They also explain why the current climate need not deter you from making positive decisions for the future of your practice.

For more information view the full article here 

Business in Focus is a collection of insights from MediHoldings on the current market trends within practice valuations, practice sales, recruitment and finance.

In this spring edition, MediHoldings shares insights on the following:

  • The cost of inaction – can practices owners afford to wait until it’s too late?
  • Deals agreed on practice sales in Q1
  • Practice completions on dental practices in Q1
  • 5 key recruitment trends during 2021
  • Dental practice valuations – the MediEstates way
  • Practices for sale and success stories
  • A case study on refinancing and buying a second practice

 

View the full brochure here

Redundancy and restructuring can be a difficult time for any organisation. The uncertainty that accompanies restructuring and redundancy is one of the most stressful experiences a person can go through.

The last 18 months has certainly put these HR issues at the forefront of many peoples’ minds. The Coronavirus pandemic has led to twice as many redundancies being planned compared to the height of the 2008-2009 recession. However, regardless of COVID-19, it is essential that it restructuring and redundancy is done right for both employee and employer.

Here are our 10 top tips to take into consideration when making redundancies or restructuring.

Take your time

Often when a redundancy situation arises, it can be tempting to try to just ‘get through’ things and end up rushing the process. This increases the likelihood that an employer will make mistakes or miss opportunities to mitigate the impact of the redundancy (like failing to find out staff would have considered pay cuts). Familiarise yourself with the process and give yourself, managers and staff time to reengage properly. It will save time and expense in the long run.

For more information view the full article here

“What on earth has a dripping tap got to do with HR challenges in your business?” you might be asking yourself.  Surely this is the domain of a plumber, not an HR professional! 

Well of course, in literal terms you’d be right, but think of the analogy: You’ve got a dripping tap; what do you do?

- Put a bucket under the tap and mop the floor from time to time to dry any splashes or spills?

- Fix the tap to stop it dripping?

Both are logical and effective options as each prevents the dripping water from spilling over the floor, but there are different pros and cons of each option, with each requiring a different set of skills, knowledge and equipment to implement.

So how does this relate to HR?

HR challenges in your business – Using a bucket to catch the drips

This is the option that so long as we own a bucket any of us can do, right? 

We require no other equipment and certainly no special skills or knowledge. 

Think of the dripping tap as HR challenges in your business.  You can deal with these yourself, responding to each challenge, issue or problem as it arises.  On their own, none is outside your capability – after all, you’re good at dealing with people.

 

For more information view the full article here

The government’s insistence on imposing activity targets on NHS contracted practices has caused much dismay amongst the profession. But leaving aside the political and emotional reaction caused by this decision, dentists, practice owners and dental teams, together, need to consider every way in which they can achieve the target and therefore avoid the financial penalties that go with any failure.

Let’s be clear, keeping patients coming into dental practices at any time is important, but during this latest Lockdown, it is vital. Average FTA rates in the UK currently run at around 5% but patients with busy lives, the stress of COVID, kids who need home schooling, and general worries about the future, it’s little wonder that a dental appointment might slip somebody’s mind.

 

For more information view the full article here

Patient communication is one of the most important areas in practice life and has become even more significant throughout the course of the pandemic. The UK national lockdown that was introduced earlier this month is a perfect opportunity for you to reach out to your patients, reassure them, and build strong relationships.

Using the effective tools you have within your dental software can make your patient communication seamless. Campaign+ is a convenient way to inform your patients from within EXACT that you are still accepting appointments, and providing patients with the care they need. Take the pressure off your front desk team and give them more time to spend on what matters most, patient care.

Communicating with your patients reinforces the feelings of trust and care you and your practice team have worked so hard to gain. Iron out any concerns that the new lockdown may have created by letting your patients know that dentistry has not been affected.

 

For more information view the full article here