The second quarter 2013 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. We feel that 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 that are included in the latest quarterly issue:
Does Your Practice Overhead Rate Compare?
By: Chris Bentson & Doug Copple
Orthodontic practice owners use a variety of business models to manage and operate an orthodontic practice, demonstrating that one size or strategy does not fit all. This article, and two future articles, will present data on the average orthodontic practice overhead, allowing owners to gain a sense of not only the averages, but also the rate or change in certain expense categories over the last five years.
Let’s Play: Engage Patients Through Social Rewards, Contests & Gamification
By: Brenda Ashwell
Patients today are very different from the patients of yesteryears. Many have never known a life without technology. Social networking, video sharing and online gaming are fixtures of today’s culture. Not surprisingly, marketers recognize the essential role games and contests play in driving customer incentive and loyalty. There’s even a word for the attempt to influence behavior by engaging participants in fun activities, “Gamification.”
The Balancing Act…It’s Simple – Part 5 of 5
By: Maria Bailey
The search for simplicity and balance includes simplifying one’s life, growing spiritually and just feeling good. For moms, this means finding solutions to handle tasks, from the occasional to the everyday variety, which ultimately adds more time in the day. This “found” time is the most valuable currency that mothers possess in today’s fast-paced world. Moms value time so much that they seek ways to do tasks more efficiently and in a simpler manner.
For What It’s Worth
By: Mary Kay Miller
Does the Internet factor into the buying and selling of a practice? In today’s tech-savvy digital society, 85% of consumers go online to research before making a buying decision. With a statistic like this, a page one web presence in local search can make or break the transition from one business owner to the next as it relates to new business in both the short and long term when marketing a practice.
An Enforceable Non-Compete Covenant: We’ll Know It When We See It
By: Daniel Sroka
Non-compete laws vary; however, if there is a predominant legal standard used by courts to evaluate whether or not a non-competition covenant is enforceable, it is something akin to the infamous Supreme Court proviso: “We know it when we see it.” Almost every published decision addressing non-competes includes a statement along the lines of “courts generally disfavor non-competition covenants.” Therefore, you should look askance, at anyone who states that any particular non-competition covenant is ironclad.
Increasing Word-of-Mouth Endorsements By Embracing New Technology
An Interview with Dr. Robert A. Miller
No television or radio spot, magazine spread or direct mail piece consistently has the credibility and power of persuasion of a direct personalized endorsement. Word-of-mouth encompasses much more than it did just a few years ago. Social media along with consumer opinion-driven online sites such as Yelp and Angie’s List, have revolutionized the way consumers share experiences of goods and services, including orthodontic practices.
Gaidge: Why to Consider this Tool to Help Manage One’s Practice
An Interview with Katie Odegard, Account Executive at Gaidge
It’s been two years since we last spoke with Gaidge (formerly OrthoMetrics) and it’s time for a much awaited update regarding this innovative analytics tool. It is increasingly important for doctor/owners to improve their level of sophistication with regard to analyzing practice performance, and Gaidge provides data and knowledge of critical operational and financial metrics to allow for quick and better decisions.