The Professional Advisory

  1. Is it Time to Move?
  2. Staging A Dental Practice
  3. The High Cost of Dying
  4. Deal-Busters
  5. Patients - Attract and Retain
  6. Should I Stay or Should I Go?
  7. Is There a Buyer for Every Practice?
  8. Good, Better, Best - The Market has Spoken
  9. Smooth-Sale-ing
  10. Buying Time
  11. Patients, Patience, Patients
  12. A Real Patient
  13. Why Do a Practice Valuation? I'm not Selling
  14. Irrational Exuberance or The New Normal?
  15. Do dental equipment and dental technology affect a practice value?
  16. Finding and Being a Mentor
  17. Bigger is Better
  18. Dave's Top Ten List for Buyers (Vendors should read this too!)
  19. How Well Do You Know Your Practice?
  20. Dave's Top Ten List for Vendors
  21. What will happen to dental practice Values in the next 10 years?
  22. Your Premises Lease is an Important Asset
  23. What are Associates Thinking?
  24. There is Life Outside the GTA
  25. When Is the Right Time to Sell My Dental Practice?
  26. Mergers are a Viable Option
  27. Is Your Associate an Asset or a Liability?
  28. Has your Practice Facility Kept Up With Your Billings?
  29. The 100 per cent of Gross Myth
  30. The Past, The Present and The Future
  31. Caveat Emptor
  32. Overpaid Long Term Staff
  33. Selling your Practice in Stages
  34. A Potential Pitfall of Selling Shares
  35. Value in Your Practice Through Balance
  36. Only Trusted Staff Can Defraud You
  37. To Own or Not to Own Practice Real Estate? That is the Question.
  38. Coping With A Large Patient Base
  39. Successful Dental Practice Transitions
  40. Taking Care of Business
  41. The Investing Dentist Phenomenon
  42. Two areas to focus upon that could negatively impact the value of your practice
  43. Organize your Debt in Order to Sell your Practice
  44. Having a Better Team
  45. How Do I Prepare My Practice For Sale
  46. How Do I Prepare My Practice For Sale? Part 3
  47. How Do I Prepare My Practice For Sale? Part 2
  48. How Do I Prepare My Practice For Sale? Part 1
  49. Advice to My Son or Daughter Graduating from Dental School
  50. Transition - What to Expect
  51. Discussion on Digital X-Rays
  52. Partnerships and Shotguns
  53. Strategic Planning - How to Get Started
  54. Calling All Vendors - Practices have Gone Up in Value
  55. Purchasers: Expect to Pay More for a Practice because of Lower Professional Corporation Tax Rates
  56. Matrimonial Practice Valuations
  57. Purchaser's Guide to Affording a Practice
  58. Location Improvements Throughout Your Career
  59. Small Practice Valuations
  60. Partnerships – The Best and The Worst
  61. Changing Location When the Opportunity Comes Along
  62. Visual Presentation of Your Practice
  63. Presentation of Charts
  64. Your Premises Lease Can Be Your Worst Enemy
  65. How to Select an Appraiser for Your Practice
  66. How Are Your Billing Ratios?
  67. It Pays to Invest in Your Tangible Assets
  68. The Importance of Separate Financial Statements
  69. Five Time Frame Levels to Sell a Practice
  70. 12 Suggestions to Safeguard Computer Data
  71. How to Buy a Visible Practice
  72. Why is there a shortage of good practices today?
  73. The Importance of Equipment in the Purchase of a Practice
  74. The Balanced Practice
  75. Will My Practice Be Saleable in The Future?
  76. Buyer Be Aware
  77. Excess Profit - The Second Key
  78. Patients and Profits are the Keys
  79. Plan Ahead

Volume 17: Presentation of Charts

Download the PDF version now!

Since patients and profits make up most of the value in a dental practice sale it is important that patient charts present themselves in the best possible light. There are a number of important steps that should be undertaken before a valuation is started.

  1. Make a concentrated effort to re-activate the patients who have not kept their visits up to date.
  2. Remove from the active files the charts that are three, four or more years since the patient was last in the practice.
  3. Have adequate space in your chart drawers or shelves to hold your active charts. Charts should be easily accessible (i.e., not packed so tightly that one is unable to pull or return a chart easily).
  4. Ensure plastic hangers are in good repair (i.e., plastic hangers should be replaced when broken or bent). This helps prevent the loss of files that have fallen from a hanger and slipped beneath the rest of the tightly packed charts.
  5. Torn or worn out file envelopes look bad to the patient and are harder for the staff to file.
  6. Charts that are hard to access make more work for your staff and contribute to inefficiency.
  7. If the charts are in drawers, the drawers should run smoothly when pulled out and pushed back in. Tracks should be kept in good repair.

If these simple steps are taken into account and followed routinely, your staff will not only appreciate it but it will make them more efficient. When the time comes to sell your practice the charts will look neat and are easy for the purchaser to review, and it will be evident that they won’t have to spend money afterwards replacing charts.

With the new privacy considerations it may be an ideal time to convert to a more contemporary chart system where the charts are sitting on a shelf with colour coded files in lockable cabinets. These new files take up less room than those in pullout drawers and because the charts are sitting on a shelf, the shelving can be higher and hold as many files as needed. Also, you don’t need three feet of access in front as is necessary for the drawer system. The paper does not have to be folded in thirds as the files are 9” x 12”. The files are generally plastic coated for rigidity and easier to pull out and insert back on the shelf. There are many suppliers and quite a price range for these new files and it will be to your advantage to obtain a number of estimates.