The first quarter 2016 edition of the Bentson Clark reSource is now available. Each quarter, the Bentson Clark reSource orthodontic newsletter analyzes and examines the most current issues and concerns within the orthodontic industry. This quarter’s publication features a vast array of articles targeted towards all orthodontists, regardless of practice size or career stage. Here’s a brief overview of the articles included in the latest issue:
Looking Back at the Practice Valuations of 2015
By: Chris Bentson & Doug Copple
The first quarter edition of the Bentson Clark reSource leads with the highly anticipated annual review of practice valuation metrics. This year celebrates the tenth consecutive year that Bentson Clark & Copple, LLC has released this data in the reSource. The information presented in this article is compiled from 55 orthodontic practice valuations that we completed during the 2015 calendar year.
As with prior review articles, the data discussed includes high-level figures such as the following: rounded net collections, practice income, adjusted overhead rate, debt-free value and value expressed as a percentage of collections for each respective practice. This article will review the averages and offer a window into the current values of today’s orthodontic practices. As additional analysis, the information is broken down based on the number of practice locations, to be used as a rough comparison tool for similarly situated practices.
Digital Marketing Trends to Watch in 2016
By: Mary Kay Miller
Online marketing evolves at lightning speed and each year brings new hardware, new software and new user preferences. In order to develop a successful online marketing strategy, businesses must stay up-to-date on the latest trends. Mary Kay Miller’s article discusses the latest digital marketing and the future impact in the orthodontic industry. She briefly discusses website design trends, online advertising (Google and Facebook), video advertising and the growth of video content. The information featured in this article can provide guidance for businesses integrating current trends into their marketing strategy.
The Stress of It All
By Dr. Neil Warshawsky
Accelerating orthodontic treatment is a timely topic in today’s orthodontic marketplace. Dr. Warshawsky, a Chicago-based orthodontist, discusses new competitive realities, reinvention and his personal experience with Propel. He presents a brief case study that illustrates his results using Propel and discusses the economics of accelerated care. Dr. Warshawsky examines how using the accelerating devices during treatment increases revenue per treatment, improves the practice’s cash flow and increases available chairtime for new patient starts.
EasyRx: Digital Prescription Management
An Interview with Dr. Marc Lemchen & Mr. Khashi Rahmani
EasyRx is a cloud-based, digital patient appliance prescription management software for orthodontic practices and labs. This interview with Dr. Marc Lemchen (current customer, investor and board member of EasyRx) and Mr. Khashi Rahmani (Business Development Coordinator of EasyRx), offers insight into the history of the company, breaks down core features, provides information regarding practice management integration and suggests reasons to consider the product. Dr. Lemchen discusses the advantages he has experienced using the software from consolidating workflow, improving efficiency and reducing mistakes. Last but not least, Mr. Rahmani briefly examines the impact EasyRx can make on a practice’s bottom line.