How one dental practice rebounded 100% from COVID-19

Your dream doctor. Cheerful dentist looking at camera with smile while sitting in dentist’s office
Dear friends, partners, and colleagues,

I hope all of you had a good, shorter week. 


In this newsletter, I’ll cover:

  • How One Dentist is Back to 100% Pre-COVID Collections
    • Work From Home Front Office
    • Adapting Patient Protocols
    • Simple Disinfectant Solutions
  • NEW PPP Legislation Passes the House
  • Featured Dental Practices for Sale
  • Another Musical Interlude


While the ADA’s Health Policy Institute has put out some challenging data from dentists getting back to work, I’ve seen more and more doctors climbing back towards pre-COVID numbers. Yes, there are challenges and changes, but we will keep moving forward.

Looking to the Future

Looking to the future and to the innovation driving the future is crucial in these times. 

Perhaps some of you were, like me, anxiously watching the countdown to the launch of the Demo-2 mission on Wednesday, which was canceled due to bad weather at about T minus 17 minutes. 

The mission will launch NASA astronauts Doug Hurley and Bob Behnken into orbit on a Crew Dragon spacecraft fixed to a Falcon 9 rocket. It is the first crewed orbital spaceflight launched from the US since 2011. The mission has been rescheduled for Saturday. 

You can watch it live here: https://www.nasa.gov/nasalive

Liftoff is scheduled for 12:22 Pacific Time (3:22 Eastern). I’ll be watching! And whether or not you tune in, join me in looking towards a bright future for dentistry, despite all the many (and very significant) challenges of the last months. 

 

Innovation Example: One Doctor Back to Pre-COVID Levels

In the very first edition of this newsletter, I said that I have high confidence that dentists will innovate and adapt to the new climate. 

This week, I’d like to feature one dentist who has adapted well and is back to 100% of her pre-COVID collection figures, our very own IPS agent, Dr. Maricelle Ortiz-Luis. 

Dr. Ortiz-Luis’ practice has been open for two weeks, was back to full capacity almost immediately, and experienced only one cancellation. She has implemented a number of steps for infection management and new protocols, some that I’d heard about, and others that were new to me (and may be new to some of you as well). 

I’m sure that many of you are adopting some of these same ideas, and many of you have your own great ideas for practicing post-COVID. Please reply to this email with your own ideas, tips, tricks, etc. I’d love to share this information as widely as possible and get all of you back to a profitable practice. 

Front Office Working from Home: In order to preserve precious PPE, Dr. Ortiz-Luis has her front office working from home. 

They use LogMeIn, a product that allows them to – as the name implies – login directly to their office workstation from their home computer. They can use Eaglesoft and have access to all the tools they need from home, where they can respond to calls, schedule patients, and conduct financial arrangements (including collecting credit card info). 

The front office still leads the morning huddle using the office speakerphone.

And using the instant messaging features of Eaglesoft, they are able to communicate easily and effectively with the back office. 

As patients arrive, they call the (home) front office, who explains the new procedures and messages the clinical team that the patient has arrived.

Once the clinical team is ready for the patient, they then message the front office who then calls or texts the patient and informs them that they can enter the office. 

After the patient’s appointment, the front office calls the patient to go over any new treatment plan, copay, and schedule the next appointment and recall. The appointment confirmation is texted or emailed.

Patient Flow Procedures:  The patient is greeted at the door by the back-office team, who instructs the patient to sanitize their hands, takes the patient’s temperature, and goes over a Covid-19 screening form and any necessary consent form. The forms (and any checks if that’s how the patient chooses to pay) are put in a cardboard box, which is filed/deposited by the front office personnel, who come in during non-patient days.

Door Sign: The door has a sign that says, “Patients with appointments only.” It goes on: “Please do not enter without an appointment, even if you have a dental emergency. No walk-ins, marketers, or solicitors.” It then has the office phone number. 

Hypochlorous Acid: As most of you are aware, hypochlorous acid has shown promise as a disinfectant against COVID. Just yesterday, it was added to “List-N,” the EPA list of disinfectants approved for use against SARS-CoV-2, the virus that causes COVID-19. 

 


This is a powerful, inexpensive solution (Lysol can still be hard to find these days). You can make it yourself with water, salt, and vinegar using an Electrolyzed Water System like this one. As as you wait for your back-ordered fog machine, you can use a very inexpensive flairosol spray bottle

Here’s a video about flairosol (which is not an aereosol).

I hope this is as inspiring for you as it was for me. Of course, there isn’t one single formula for success right now. But if it’s been done, it must be possible! 

Chart your own course and let’s keep moving forward.


NEW PPP Legislation: 

Yesterday, the US House of Representatives passed the H.R.7010 – Paycheck Protection Program Flexibility Act of 2020.  While it still has a way to go in the legislative process, it has wide bipartisan support (passing 417 to 1), and I suspect it will quickly make its way to the President’s desk. 

In its current form, the bill makes several changes to the forgiveness criteria, including: 

  • Expanding the 8-week period to 24 weeks.
  • Extending the re-hiring deadline from June 30th to December 31st
  • Reducing the amount required to be spent on payroll from 75% to 60%


We don’t know how the Senate will amend the bill, so don’t alter your plans just yet. 

While I think these are good changes, it is difficult and frustrating to strategize for the future when the game keeps changing. Nevertheless, I think these are good changes on the whole. I hope the final version of this bill is passed quickly so that we can all make smart plans for the future.


Featured Listings

Diamond Bar General Practice
Asking Price: $370,000 | 6 OPS | Seller Net Income: $135,000
Building Type: Shopping center
Revenue Sources: FFS 30%, PPO 70%
Summary:  Sleek and thoughtfully laid out practice features 6 well-equipped operatories, two private offices, pano, and a spacious waiting room. Located in a busy strip mall, the easily accessible practice has plenty of foot traffic and a large parking lot. Diamond Bar is a newer community with beautifully-planned upscale neighborhoods, outdoor recreation, and family activities. Sign the NDA and receive more information here.

San Diego General Practice
Asking Price: $1,090,000 | 7 OPS | Seller Net Income: $550,000
Building Type: Freestanding dental office
Revenue Sources: FFS 3%, PPO 30%, Indemnity 2%, Discount Plans 10%, Covered CA 25%
Summary: Paperless, up-to-date practice features seven fully equipped operatories, high-technology dental equipment, Dentrix, a beautifully-appointed office with ultra-comfortable reception area, and highly-experienced seasoned staff. This charming dental office is located in an attractive building on a main thoroughfare near downtown. It includes private on-site parking and is easily accessible from both the 5 and 805 freeways. Sign the NDA and receive more information here. 

San Luis Obispo General Practice
Asking Price: $865,000 | 3 OPS | Seller Net Income: $507,000
Building Type: Freestanding dental building 
Revenue Sources: FFS 3%, PPO 30%, Indemnity 2%, Discount Plans 10%, Covered CA 25% 
Summary: Rapidly growing and successful GP in highly desirable San Luis Obispo! Beautiful bright and modern office features 3 equipped operatories, recently updated equipment, new 3D Conebeam, Eaglesoft, an experienced staff, and a very solid hygiene schedule. The seller is highly rated across the internet and has a tremendous reputation within the community. The office is close to historic “Downtown SLO” and is very easily accessible via the 101.  Sign the NDA and receive more information here. 

Sacramento General Practice
Asking Price: $534,000 | 4 OPS | Seller Net Income: $200,000
Building Type: Professional office complex
Revenue Sources: FFS 53%, PPO 47%
Summary: 45-year established General Practice in a fantastic neighborhood! Located near upscale shopping and fine dining, the office features four well-equipped operatories and a highly experienced and dedicated staff who have worked in the office anywhere from 2-30 years.
This beloved practice has a strong foundation to be tremendously profitable, and a young ambitious dentist could absolutely capitalize on this. Sign the NDA and receive more information here.


Glendale General Practice
Asking Price: $400,000 | 4 OPS | Seller Net Income: $317,000
Building Type: Shopping center
Revenue Sources: FFS 40%, PPO 60%
Summary: Now priced at 50% of Collections!! Beautiful, profitable, and recently updated General Practice in Glendale, CA. Modern, paperless office features 4 equipped operatories, Dentrix, in addition to high-quality equipment such as DIAGNOdent, Bien-Air electrical handpieces, soft tissue laser, piezo scalers, and more!! Located in a busy shopping center in a highly desirable neighborhood with plenty of free parking in an open lot.  Sign the NDA and receive more information here.



Musical Diversions – Happy Friday From Ken Skeate

Ken Skeate is our fantastic agent in Ventura and Los Angeles, and this week he made a request for the musical diversion.

Get ready to get a little funky and a little soulful: Enjoy Soulful Strut by Young-Holt Unlimited!

Hope you all have a wonderful and safe weekend!

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