Private dental clinics already top the rankings of the nation’s most profitable industries. According to IBISWorld market research published earlier this year, dental revenues are soaring industry-wide after years of negative or stagnant gains, with 5.7% annual growth rates forecast through 2021. Profit margin (currently at 19.7%) is also expected to hit 24.6% in five years. Considering that private dental clinics already top the rankings of the nation’s most profitable industries, these are truly remarkable times. Experts say this rapid move toward consolidation is making it more feasible for dentists to invest in much-needed capital projects. For example, it usually costs between $300,000 and $500,000 to start a practice. Combine that with increased overhead and soaring debt levels for dental school graduates, and it’s no wonder the traditional sole practitioner model is losing appeal. In its place, dental practice management corporations (DPMCs) and corporate franchises are using economies of scale to lower operational costs and free up money for physical expansion. It’s one reason why names such as American Dental Partners, Smile Brands Group, Comfort Dental, Coast Dental, and Aspen Dental have established themselves as regional and national players. Michael Unthank, a registered architect and dentist who has designed more than 1,000 dental and specialty offices, writes, “Creating a new office environment will likely be the largest single investment you make in your practice.”1 To maximize value, as well as customer experience, he recommends a long-term, quality-first approach that creates a “highly functional, pleasant, inviting, and professional environment.” Source: Written by Dentistry IQ
When was the last time you got excited about going to a meeting? “Woohoo! A meeting! It’ll be great!” Yeah… Chances are, it’s been a while—if ever. That’s why today, we’re going to briefly review meeting structure and discuss how to hold meetings that your entire team will look forward to! The start of a new year is a perfect time to take a step back, get out of the office, and assess your company’s progress. We ask ourselves questions like: “How far have we come?” and “Where are we going?” We zero in on missed opportunities and lessons. Our meeting rooms are decked out with action items, statistics, and specific department goals. In addition to these department meetings, we also have monthly all-employee meetings. We’ve learned a lot about what makes a great meeting by implementing the following 6 tips to make YOUR team’s meetings more impactful (and a lot more fun!) 1) Acknowledgements During your meeting, be sure to give shout outs to individual employees! Who stood out this month? Did anyone (or any department) go above and beyond? Additionally, are there any new employees to introduce? 2) Re-sell your vision. At each large company meeting, you should be reiterating one point… Why are you doing this? As the owner (and leader) of your company, it’s essential that you come to each meeting ready to re-sell the vision, sell any new changes to the vision, or just make sure you’re on the same path that you had originally thought. Keep the team involved and make sure you are all on the same page! 3) Make it an experience! Team members could share moving stories—both personal and professional. There is always something new and exciting to look forward to! 4) Get the team involved. Rather than have essentially the same meeting from month-to-month, always change up the meeting agenda and include guest speakers. Each meeting is a different presentation, and it should keep everyone on their toes! 5) Connect to personal life. Connect your team’s work to their personal lives. Ask yourself… How can their professional goals and opportunities allow them to meet their personal goals and opportunities? You want this meeting to be relevant to them on multiple levels in order to increase your impact. 6) Give them a journal. Give them a nice journal and let them know that you expect them to take notes during the meeting. What are the company’s current goals? Any changes? What is the vision? As the leader of your team, YOU need to set the precedent! Source: Written by Scheduling Institute
Healthcare Construction in U.S. Due in part to the country’s aging population, the medical construction market in the United States is expected to see quite a bit of activity in the near future, according to a report by Reed Construction Data, now known as CMD. In the U.S., there are 37 relatively “firm” planned hospital construction projects that are estimated to cost $50 million or more, each, according to CMD. Additional findings from the report include:
- Fifty-eight percent of the upcoming projects valued at $50 million or more are considered new work, as opposed to hospital additions or alterations
- Plans for both additions and alterations make up 18 percent of the projects.
- Seventy-three percent of the money going towards healthcare construction projects is from the private sector.
- Federal healthcare construction projects account for the smallest percentage of work, at roughly 5 percent.
- BJC Healthcare, a nonprofit organization based in St. Louis, is planning the largest dollar allocation for hospital construction in the country at $1.5 billion. The money will be dispersed in several St. Louis locations.
- The Rehabilitation Institute of Chicago and Marin Hospital in Greenbrae, Calif., are planning the second largest construction projects at roughly $500 million each.
Why LEED Certification Matters First, there is the straightforward reward that comes with certification, such as access to expert technical support; wide-ranging marketing benefits; and most importantly, the unbiased, transparent assurance that the project team cut no corners in the making or updating of your Class A green building. The LEED plaque means leadership, and it lets everyone know that the building has an integrated design that will be energy and water efficient, while increasing occupant health and comfort. Without that assurance, projects can face various market disadvantages, such as opportunity costs, accelerated obsolescence, or structural competitive disadvantage. On the public buildings front, third-party verification is critical to showing taxpayers that their money is being well-spent on sustainable, resilient buildings that save energy and money. But certification, a prominent display of leadership, also has a large impact on the community’s uptake of green building. Source: Trust but verify: Why LEED certification matters | Fleming Roberts
In addition to saving money on your utility bill, water conservation helps prevent water pollution in nearby lakes, rivers and local watersheds. Conserving water can also extend the life of your septic system by reducing soil saturation, and reducing any pollution due to leaks. Overloading municipal sewer systems can also cause untreated sewage to flow to lakes and rivers. The smaller the amount of water flowing through these systems, the lower the likelihood of pollution. In some communities, costly sewage system expansion has been avoided by communitywide household water conservation. By using water-saving features you can reduce your in-home water use by 35%. This means the average household, which uses 130,000 gallons per year, coulod save 44,00 gallons of water per year. On a daily basis, the average household, using 350 gallons per day, could save 125 gallons of water per day. The average individual, currently using 70 gallons per day, could save 25 gallons of water per day. Follow these water conservation tips to start making a difference. 1. Check faucets and pipes for leaks A small drip from a worn faucet washer can waste 20 gallons of water per day. Larger leaks can waste hundreds of gallons. 2. Don’t use the toilet as an ashtray or wastebasket Every time you flush a cigarette butt, facial tissue or other small bit of trash, five to seven gallons of water is wasted. 3. Check your toilets for leaks Put a little food coloring in your toilet tank. If, without flushing, the color begins to appear in the bowl within 30 minutes, you have a leak that should be repaired immediately. Most replacement parts are inexpensive and easy to install. 4. Use your water meter to check for hidden water leaks Read the house water meter before and after a two-hour period when no water is being used. If the meter does not read exactly the same, there is a leak. 5. Install water-saving shower heads and low-flow faucet aerators Inexpensive water-saving low-flow shower heads or restrictors are easy for the homeowner to install. Also, long, hot showers can use five to ten gallons every unneeded minute. Limit your showers to the time it takes to soap up, wash down and rinse off. “Low-flow” means it uses less than 2.5 gallons per minute. You can easily install a ShowerStart showerhead, or add a ShowerStart converter to existing showerheads, which automatically pauses a running shower once it gets warm. Also, all household faucets should be fit with aerators. This single best home water conservation method is also the cheapest! Source: Water Conservation Plan Guidelines https://www3.epa.gov/watersense/pubs/guide.html
A new pot of paint could prove the latest tool in the war on hospital superbugs, destroying potentially life-threatening infections within two hours of exposure.The product does not merely inhibit the growth of common bacteria, but has the power to kill the dangerous microbes, experts said. Marketed as Paint Shield, experiments found it kills more than 99 per cent of virulent strains that can trigger MRSA and E.coli. The paint can be applied to interior hard, non-porous ceilings, walls, doors and trim. Chris Connor, chairman and chief executive of the firm, said: ‘By killing infectious pathogens on painted surfaces, Paint Shield is a game-changing advancement in coatings technology.’ The product, which is the first Environmental Protection Agency-registered microbicidal paint, targets bacteria including Staph (Staphylococcus aureus), MRSA, E.coli, Vancomycin-resistant Enterococcus faecalis and Enterobacter aerogenes within two hours of exposure. The exclusive patented technology in Paint Shield represents the culmination of extensive research and collaboration between Sherwin-Williams coatings scientists and expert microbiologists. Paint Shield will be available in 590 colours and Sherwin-Williams expect it to be available in stores across the US early next year. http://www.dailymail.co.uk/video/health/video-1225079/New-type-antibacterial-paint-kills-hospital-superbugs.html Source: By LIZZIE PARRY FOR DAILYMAIL.COM PUBLISHED: 11:15 EST, 29 October 2015 | UPDATED: 14:12 EST, 29 October 2015 Retrieved from: http://www.dailymail.co.uk/health/article-3295310/Could-PAINT-wipe-hospital-acquired-superbugs-Tests-reveal-new-product-kills-99-harmful-bacteria-triggers-MRSA-E-coli.html#ixzz4DVyIGmjj
During this summer season we can’t help it but to be concerned about our electricity bill. Wether at home or place of business, our wallet certainly feels the hit when these hot summer days come by. Nevertheless, there’s good reason to be energy efficient and their is no better time to start than now. For starters, you’re eligible for rebates and savings programs when you make qualified, energy-saving improvements to your home. Many of these upgrades also may be eligible for tax credits. What’s more, when you use less energy, you pay less too.To get started, complete the Do-It-Yourself Check-Up to see where in your home energy savings can be found. Here are some simple tips to being more energy efficient:
- Set your thermostat between 78 and 80 degrees during warm months. During colder months, set it between 68 to 70 degrees.
- Use a programmable thermostat to manage your daily heating and cooling needs.
- Try a free CPS Energy Savers Smart Thermostat or other programmable thermostat programs.
- Use a ceiling or portable fan to circulate air and make you feel cooler.
- Turn off the television, fan and lights when you leave a room.
- Replace less efficient incandescent light bulbs with LEDs and CFLs.
- Purchase energy-efficient appliances and products. Take advantage of our home efficiency rebates.
- Turn off or unplug electronic devices, such as computers, power tools, etc., when not in use.
- Reduce your hot water use – take short showers, use cold water to wash clothes, etc.
Investors in healthcare buildings view multi-tenant medical offices as their best bets for returns on investments whose financing, to an increasing degree, leans toward cash rather than debt. Those are some of the findings in a 15-page report that CBRE’s U.S. Healthcare Capital Markets Group has released, based on responses from 80 healthcare real estate investors answering 26 questions. The largest group of respondents (32%) was healthcare real estate developers, followed by healthcare REITs and private capital healthcare investors (27% each). Nearly one-third (32%) of all respondents say they target transactions that fall between $20 million and $50 million. Another 31% say that their preferred transaction range is $10 million to $20 million. Nearly all of the respondents—96%—are most interested in medical office buildings as the type of building that meets their acquisition criteria. The next preferred building type is ambulatory surgery centers (63%), wellness centers (41%), and assisted living facilities (39%). Single-tenant medical office buildings are pricing the most aggressively. The largest group of respondents (37%) indicate a cap rate range of 6% to 6.49%, and another 42% indicating a cap rate lower than 5.99%. In contrast, more than one quarter of respondents indicates a cap rate of 6% to 6.49% for ambulatory surgery centers, while 31% indicate a cap rate range of 6.5% to 6.99% for wellness centers, and 33% a 7% to 7.49% range for acute care hospitals. The product types with the least-aggressive pricing, according to the survey’s respondents, are long-term acute care hospitals, skilled nursing facilities, and psychiatric hospitals. The vast majority of respondents—82%—say their medical office investments this year would make them “net buyers.” Majorities of respondents expect supply of and demand for healthcare sector buildings in general to remain pretty much the same this year as in 2015, with some intriguing collisions: for example 30% of respondents think demand for freestanding emergency departments would be higher even as 40% expect supply of that product type would be lower. Rents for medical office buildings were up between 2% and 3% for the respondents’ portfolios, and none is predicting much growth beyond that in the next 12 months, which is curious given that 59% of those surveyed say their portfolio’s occupancy rates were higher than the year before. Source: INDUSTRY RESEARCH | APRIL 07, 2016 | JOHN CAULFIELD, SENIOR EDITOR
Are there really laws that govern practice growth? In 24 years of helping dental practices grow, we have realized that all consistently growing practices follow a number of proven laws. We will share four of these laws that we believe, if followed, will keep your practice on the top side of the growth curve. We make it our expectation that every practice we serve grows by a minimum of 7% annually. That may not seem like a significant number, but that growth rate enables our clients’ practices to double every 10 years. In other words, if 20 years ago you had a $300,000 practice, at this realistic rate it grew to a $600,000 practice 10 years later and is now a $1.2 million practice with one doctor and no associates.We find that to be a reasonable and attainable expectation for every dental practice. These laws may not double your revenue in 90 days, but you will be on course for long-term, consistent annual growth. Source: 4 proven laws for practice profitability | Ken Runkle Looking for a Design-Build Construction Expert? Give Liberty Group Construction a call today! (888) 308-6869
The pricing of either a specialized GC or architect can be typically 20 to 50 percent or more than an experienced GC or architect that is a qualified generalist, but does not call themselves “specialized.” So, what is the solution you ask? Easy. If you have an experienced and knowledgeable dental office Owner Representative on your project, then you can seek an established local GC with a solid commercial construction reputation, who specializes in your industry. This will save you thousands of dollars and time in the long run. Dental facilities that have varying complexities – nitrous oxide, multizoned HVAC, multiple lighting needs, differing esthetics within varying square footages – can be deceiving and confusing.You can’t avoid references to cost per SF. You can, however, “qualify” assumptions made to avoid assigning unrealistic cost expectations to your project. A Specialized GC in dental construction will have the knowledge to take on these intricacies. Specialized builders can end up saving you time and money as they will account for a level of detail in their design work that most GC wouldn’t even consider. When you hire a contractor, you also obtain access to a specialized network of information and resources. Professional builders generally have well-established relationships with reliable subcontractors like electricians and plumbers, and familiarity with the time it takes to complete various phases of the building process, which a novice owner-builder can lack. Remember, dental-specific contractors are easy to find: Your equipment specialist can likely put you in touch with contractors they’ve worked with, or you can look for contractors at your state annual session. You can also check with colleagues who may have valuable feedback about contractor performance. Looking for a Design-Build Construction Expert? Give Liberty Group Construction a call today! (888) 308-6869