Our CEO sometimes says that "some dentists monitor their finances effectively, and then there is the other 80%."
It is well established that dentists who are oblivious to the financial operation of their practices are more likely to be embezzlement victims, so why is compliance with this basic element of business ownership so low?
When dentists with embezzlement concerns call us, we probe into the type of monitoring being performed, because this will often provide clues to the methodology being used to embezzle.
When we explore, two central themes emerge.
Some dentists say that the clinical output required of them, and their otherwise busy lives, leave them insufficient time to devote to practice numbers, and others (sometimes sheepishly) tell us that they simply were not taught in dental school, and have not been able to learn how after they graduated.
The View from the CEO's Chair
If you asked me who, among the world's 7.8 billion inhabitants, I admire the most, the answer is easy. My hero is not an inventor, politician, actor or professional athlete. She is an unassuming woman from Virginia named Linda Miles.
After landing in dentistry, like many of us, more or less by accident, Linda slowly and steadily transformed the profession. She was a pioneer in the field of dental consulting before it was really recognized as a profession. She extended her outreach through speaking, books, audio tapes, and videos, where Linda's blend of common sense and insight into human nature shone through brightly. She has shaped the thinking of thousands of dentists and team members.
But unbelievably, Linda's influence is even bigger in another way. As only she could, Linda has launched or helped the careers of hundreds of people in the dental consulting field. Her ability to spot raw talent and then give a gentle push or to whisper in the ear of the right person has changed the trajectory of many careers. Our last webinar guest, Dr. Roy Shelburne, is one beneficiary of Linda's assistance, and I will forever be grateful to have been another.
My first exposure to Linda came in the 1990s when a periodontist friend of mine gave me a copy of one of Linda's books, Practice Dynamics. I was instantly struck by her wonderful way of communicating.
In recent years, Linda has cut back her involvement in the dental profession to focus on her family and her chosen charity, Oral Cancer Cause (oralcancercause.org), so I was giddy beyond words when she agreed to be our next webinar guest.
Registration is free HERE, and I'd like to thank our friends at CareCredit for supporting this event.