Thursday, Feb. 19, 2009

Dentists: Smiling in the Face of Recession

By Sean Gregory

The one guy is 63, just lost his job at a health insurer, and is afraid he'll never find another one. The other has three kids, one in college, and lost his construction job. The stress caused them to grind their canines and molars. So they each wound up in the office of Dr. Woody Oakes, a dentist from New Albany, Ind., with a fractured tooth. "You do see that — someone lost their job, and they come in with their jaws clenched," says Oakes, who is also editor of the Profitable Dentist magazine. "You can fracture your teeth when you do that."

There's at least one profession for which the recession might not bite: dentistry. According to Sageworks, a firm that tracks private-company financial performance, dentists' offices had higher profit margins than any other industry in 2008. With average profit margins at 17%, dentistry outpaced accounting, tax preparation, bookkeeping and payroll services, legal services and mining support services among the top five performing professions in '08. Dental margins rose about 1.5% from 2007, according to Sageworks. (Read "25 People to Blame for the Financial Crisis.")

What could be keeping dentistry strong during this recession? Sure, tooth-grinding and nervous eating habits — I'm going to chomp on chocolate as an escape — may be driving traffic to the drill. But economic forces are more likely to be responsible. Dentists note that patients who receive limited or no insurance tend to skip cleanings and other dental maintenance during tough times as they look to save a few bucks. But dentists pick up even more revenue later on. Patients who've skipped checkups now have achy teeth and have no choice but to undergo a more expensive procedure. "It's human nature to say, 'I can't afford that right now, and if it doesn't hurt, I don't have a problem,'" says Dr. Lawrence Spindel, a dentist in New York City. "Then all of a sudden you need a root canal."

At the same time, insured patients want to hit the chair while they're still lucky enough to have the insurance. "We're seeing that a lot of folks are fearful of losing their jobs," says Rick Willeford, founder and president of the Academy of Dental CPAs, whose members provide accounting and tax-prep work for some 7,000 dentists across the country. "So they want to use their benefits. That has helped keep revenues strong." Spindel, who had his best year ever in 2008, says last spring he saw a "miniboomlet" in these types of cases. "People know that if they're going to lose their job, they damn well better use their dental insurance," Spindel says. "They say, 'Do as much as you can do, and you need to do it within 30 days!' "

Read "The Year in Medicine 2008: From A to Z."

You would think cosmetic dentistry would completely collapse during a recession. Who wants to part with thousands of dollars just to look good? But some evidence suggests that this business is still healthy. For example, sales of Snap-on Smile, a cosmetic device that snaps over your teeth, rose 22.2% in the fourth quarter of '08 compared with the third quarter. December sales were 62% higher than those in October. The device costs between $2,500 and $4,000 for a full-mouth restoration, a much cheaper alternative than restorative veneers, which can cost $30,000 to $50,000. Snap-on Smile CEO Adam Cotumaccio has heard feedback that some patients buy the product for very practical purposes. "In this job market, you want to feel good, you want to look good going into an interview," says Cotumaccio. Plus, people are still spending money on big-ticket dentistry. Dr. Cary Ganz, a dentist from Garden City, N.Y., has done several $50,000-to-$60,000 procedures this year. "It has amazed me," says Ganz, who also reports having his best year ever. "Regardless of the economy, people still have the need to take care of themselves."

Dentistry is not pain-free. Willeford reports an overall fourth-quarter slowdown among the Academy of Dental CPAs' clients. These dentists serve patients across a broad socioeconomic spectrum. "We're seeing a lot more open appointment books through March," says Willeford. "If people keep losing jobs, we're going to edge off a cliff." Dr. Roger Levin, CEO of the Levin Group, a dental-management consultancy, is also very cautious. "Traditionally, it takes six to 12 months for economic trends to affect dental practice," he says. "The full impact of the downturn may be yet to come."

Dentists should still stay warily optimistic, however. "People think, Rather than lose all this money in the market," says Ganz, "I might as well put it my mouth."

Copyright © 2009 Time Inc. All rights reserved

Mydent Introduces Trap-Ez Filters

MYDENT INTRODUCES Trap-Ez DISPOSABLE FILTERS

 

HAUPPAUGE, NY:  February 6, 2009— Mydent International has introduced Defend® Trap-Ez Disposable Filters. Trap-Ez filters reduce the possibility of infection and contamination in evacuation systems and cuspidors.

 

Defend® Trap-Ez Disposable Filters are designed to replace the trap in cuspidors and evacuation systems, improving performance while reducing the potential for contamination.  Filters are available to fit virtually every canister, saliva ejector, and cuspidor bowl on the market.  Filters are also available that fit like a cap on any standard high-volume evacuator tip. 

 

Defend® Trap-Ez Disposable Filters are packaged 144 to a box and are available from most dental dealers. The product can be seen at the Mydent booth, #1017, at the Chicago Midwinter meeting.

 

Mydent International, home to Defend® infection control products, disposables, and impression material systems, provides dependable solutions for defensive healthcare.  Mydent urges healthcare professionals to:  DEFEND.  Be smart.  Be safe.  For more information on Mydent International and its products, call 800-275-0020, or go to www.defend.com.

                              

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Watch Seal teeth

drmikemaroon@gmail.com wants to share this video with you:

Personal Message
Even seals need fresh breath!

Seal teeth

Video:
(Boston Globe) Video by David L. Ryan; produced by Chona Camomot, Globe Staff
http://link.brightcove.com/services/link/bcpid1119284117/bctid10122749001

HELP NEEDED - EVERYONE PLEASE READ

This message is extremely important. Please read to the end. Thank you.


Dear Friends,

In the movie “It’s a Wonderful Life”, Jimmy Stewart’s character, George Bailey, is seen throughout the movie as always putting others first instead of himself. It’s a great character trait and one that all of us at ACE have tried to emulate by putting all of you first. In the movie, George Bailey gets into some financial difficulty and doesn’t know where to turn for money to keep the business going…oh, he asks the curmudgeon old Mr. Potter who’s trying to take over the town by buying everyone up, but Potter tells him he’s going to go to prison. George is extremely distraught and thinks that the only way that he can make things right is by taking his own life and allowing his heirs to cash in on his life insurance policy. Well, we all know where the story goes, an angel named Clarence comes down and shows George what life would be like if he weren’t born. It’s one of the most powerful sections of a movie that you will ever witness because it makes the viewer realize how important life is and how each of our lives are intertwined. Well, there is a happy ending to this story as George’s wife (leave it to a woman to figure out the easy solution) asks the people who George has helped throughout his life to now come and help him…and they do. George makes enough money to keep his business open and Clarence even gets some wings.

Right now, ACE is kind of like George Bailey when he doesn’t know where to turn.

Tim, Anthony, Pete & I have put approximately ½ million of our own money into ACE with no financial gain whatsoever and unfortunately, in today’s economic climate, that just isn’t going to cut it. We don’t have many employees working for us…it’s just us four guys and the amazing support, volunteerism and generosity of others. We’ve spent the last 10 years bringing people together and helping others share information and improve their businesses and lives. We don’t need an angel to show us the impact that we’ve made on people’s lives…we know we’ve made a difference and have been blessed to be able to do so. Now, we need your help to keep this organization going. We’re not asking for much, but we need everyone reading this to help.

If you’ve ever received one bit of useful information from ACE…
If you’ve ever met a colleague who has become a great friend through ACE…
If you’ve ever needed help from ACE and we’ve answered your call…
If you’ve just needed someone to share your feelings with on business & life and ACE has been there…
If you look forward to getting the latest information about dentistry with your friends at ACE…


We need your financial support and we need your help to make ACE better…here’s how in 4 Easy Steps:

Step 1: Become a member.
Not just a lurker or someone who participates occasionally, but a full-fledged dues-paying card-carrying member! Membership helps us to help you because the more members we have the more we can negotiate with companies and get special discounts on products and services. Basically, by becoming a member you are helping yourself, helping ACE and helping your fellow members.

Doctor Membership is only $300/year
that’s just $25/month or 82 cents a day…less than a cup of coffee for all the great information that you receive.
Hygiene Membership is only $50/year
that’s just $4.16/month or 14 cents a day…you can’t even get candy anymore for that price!

Please take a moment to help us help you. If you’ve ever received one piece of worthwhile information that has helped you in practice or life, please show your support by becoming a member and allowing us to pass along the same opportunity to you in the future as well as to others. Without your ongoing financial support, ACE can’t exist. I know that the information and support that I get from ACE is priceless and worth so much more than the membership dues. I hope you feel the same way too. Remember, the benefits that we have negotiated from companies in products and services can save you thousands of dollars. So we’re asking for a little and giving you back a lot. Please help today.
CLICK HERE TO BECOME AN ACE MEMBER TODAY AND LEARN MORE ABOUT BENEFITS!


Step 2: Attend an ACE event.
We develop and design ACE events based on the hot topics that are being discussed online. This means that ACE events are timely and give you more in-depth information than what you will get anywhere else. If you have been to an event in the past, thank you. If you’ve never been to an ACE event, please make 2009 the year you decide to join us at one (or more) events. We have programs on NeuroMuscular Dentistry, Marketing, Minimal-Prep Veneers and our annual Symposium on Esthetic Dentistry planned. You can find information on upcoming events at http://www.acesthetics.com/ or call Peter Maroon at 800-701-6223 and he’ll personally speak with you, happily answer any questions you may have, and get you registered.

If everyone who reads this attended just one ACE event this year, we would have more than enough money to keep ACE going strong.

We have 3 remaining events this year featuring timely information on hot topics in dentistry.
ACE Tampa 2009 – Conference on Dental Marketing & Web Optimization ~ Mar 27-28, 2009
ACE Cleveland 2009 – Conference on Minimal & No prep Veneers ~ June 5-6, 2009
ACE Scottsdale 2009 – Symposium on Esthetic Dentistry ~ Nov 11-14, 2009
CLICK HERE TO REGISTER FOR UPCOMING ACE EVENTS!


Step 3: Get involved.
In 2009 and beyond, we want your input and ideas. We have a wonderful variety of great thinkers on our forum and we would love to hear your suggestions and get you involved in making ACE exactly what you want it to be! If you’re interested in serving on a committee, helping out with an event, or have any other great ideas that can make our organization better…we’re all ears…and we want you involved! Please tell us how we can make ACE better! If you are interesting in getting more involved with ACE…in any capacity…please email us at contact@ACEsthetics.com.

Doctors, Hygienists & Lab Technicians, you can help your business, your patients, yourself and ACE by going through the Fellowship process and achieving ACE Fellowship. Those who have undertaken the process can tell you that ACE Fellowship is a fair & balanced test of knowledge and skill in all phases of Esthetic Dentistry. Fellowship is a great way to challenge yourself to be the best possible dental practitioner you can be. We invite you to face the challenge.
CLICK HERE TO LEARN MORE ABOUT ACE FELLOWSHIP!

We have several manufacturers and labs who participate on our forum and you realize how beneficial it is to have access to these amazing participants on our email network. You can do your part by becoming a sponsor at one (or more) of our events and making an offer to ACE members that they can’t receive anywhere else. ACE is a fantastic place to position your company’s product or service in front of leading professionals in the US and around the world. More than that…we invite you to participate with us on a daily basis. It benefits everyone when manufacturers and dental labs participate with our doctors, hygienists and team members because we’re all tied together in the dental circle of life.CLICK HERE TO EMAIL PETER MAROON OR CALL 800-701-6223 AND SPEAK WITH HIM TO HAVE YOUR COMPANY BE MORE INVOLVED WITH ACE!


Step 4: Tell a colleague about ACE.
Like all good things, ACE is meant to be shared with colleagues and friends who can use an uplifting message and a show of support in the business of dentistry and life. We need you to CARE TO SHARE! Just like ACE supports each of us everyday, we want to be able to do the same for others. Don’t worry, we promise we won’t grow so big that we lose our close-knit intimacy (…how big can you get with no employees? :D) …we just want to be able to help folks who are going through challenges that we’ve faced by supporting them, giving them valuable information and allowing them to see how good things can really be in dentistry…and just like our practices grow and get energized with new patients, so too will ACE get energized with new members. Let’s make ACE a better organization in 2009 by inviting people that we want to be involved with the group! It only takes a moment of your time and the rewards will be exponential for everyone. When you refer someone to ACE and they become a dues-paying member, we will credit you $100 off any meeting tuition for 1 year. That means that the more people you invite to ACE the less it will cost you to enjoy the benefits of attending an ACE event. It’s a win-win for everyone!


How many times in life do you say to people, “If you need help, just ask.”, but how many people really ask when they need your help. I don’t know if it’s pride or not wanting to come across as a failure or whatever other reasons that hold us back from asking for help, but it takes strength and courage to realize that you can’t do it all on your own. That’s why...

It has taken us a long time to ASK FOR YOUR HELP!

We are so proud of all that we have accomplished with ACE so far; the friendships and relationships that have come together because of us; the people we have helped through difficult times in their lives, whether it’s the loss of a loved one or the struggles of a relationship or the difficulties in running a business; we know that there has been a lot of good that has already come out of our efforts and that is priceless to us. What really eats away at us is that without your support, ACE will not survive and if ACE doesn’t survive, we won’t be able to help more people in dentistry and life the way we’ve helped you. That’s why we really are making this appeal to you to help us out.

Help us help you!

Become a Member – Come to a Meeting – Get Involved – Tell a Friend

If you’ve gotten this far, thanks for reading this message the entire way through and God Bless you.

Sincerely,

Dr. Mike Maroon
Dr. Tim Hale
Dr. Anthony Vocaturo
Peter Maroon

CHECK THIS OUT!!! ACE Tampa 2009 Conference on Dental Marketing & Web Optimization

I just made my flight reservations for the ACE Tampa 2009 - Conference on Dental Marketing & Web Optimization and flights were only $99 each way!

 

I'm also bringing along two of my front admin team who work with me on marketing the practice.

Can't wait to see everyone and learn some new tips to improve our marketing efforts and keep our practice financially strong during this economic slowdown.

 

Get registered for this event today at www.ACETampa2009.com or call Peter at 800-701-6223.

 

AIRFARE IS RIDICULOUSLY LOW!

 

The website has details on special room rates at the hotel.

 

It's only about 8 weeks away...don't delay!