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“It’s people who make the difference, so my business philosophy is based on taking care of the staff first. If you do that, I believe everything else will come naturally,” says Jayme Hong, CEO and Chief Rainmaker at IDOC.
LMT’s 2014 Fee Survey respondents offer a mixed picture of their sales and profitability. On one hand, laboratory sales seem to be slowly improving. Profits, though, seem to be lagging behind.
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- Maribeth Marsico · Oct 2014
A 2014 Fee Survey participant from the Midwest—who prefers to remain anonymous—offers a thoughtful take on how the rampant price competition on full contour zirconia restorations is negatively affecting the bottom line of many laboratories. Here’s what he had to say:
In the early 1980s, the price of gold skyrocketed and non-precious alloy showed up on the scene. Since it was a cheap metal, most labs didn’t even add the cost of the metal into the crown fee. However, they weren’t thinking about the revenue they had been making on gold alloys—or about the...
With all the bad news about stiff competition and price erosion, I thought we all could use a “feel good” reminder that you deliver an invaluable service to the patients who receive your work; I’m one of them!
In March 2013, I went to a local general practitioner to have number 14 looked at. I was unable to chew without getting a shooting pain. (I wrote about this earlier and, for the details and more photos, go to http://lmtmag.com/series/baddentistry.)
Unfortunately, because this dentist didn’t realize how traumatized the tooth was—and didn’t give it a chance...
The great transition taking hold of the way our community works is far from settling down as strategies continue to be employed and tested by tomorrow’s business leaders. Some of the changes have the capacity to pull the rug out from under us even as we retool to adapt to today’s innovations.
Though there will be an increased need for restorative work among aging boomers in the near future, right now it’s a huge challenge for laboratories to make it to that future. Having a detailed read on the market—that would enable you to see your own future more clearly—would...
Jean Chiha, CDT, shares his step-by-step process for fabricating a posterior, three-unit, implant-supported bridge using Noritake KATANA Multi-Layered (ML) Zirconia.
The challenging aspect of this case was that one of the implants was improperly placed between #7 and #8. Steve Lee explains how he made a screw-retained zirconia framework with pink gingiva tissue to recreate the lost gingiva and then cemented on four single crowns made from IPS e.max to the framework.
As a result of rapid growth in its digital services, Albensi Laboratories was bursting at the seams. Now, its new building features a well-organized layout, energy-efficient systems and room to grow.
“Something different happens when you’re able to physically hold a case and learn from it instead of a book,” explains Anthony Calonico, CDT, in his article about his unique strategy for teaching occlusion to his staff members.
Nearly three quarters of respondents to LMT’s exclusive 2014 Wage Survey have taken cost-cutting measures related to personnel in the last two years, citing unpredictable workflows, pricing pressure from dentists and other low-cost labs, and an increase in business costs.
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In addition to technical support, marketing personnel and a scanner repair area, 3Shape’s new east coast facility in Warren, NJ, features training rooms for technicians to test drive and learn about 3Shape scanners and dentists to get familiar with the TRIOS Digital Impression System.
LMT’s Buyer’s Guide is timed to coincide with your end-of-year fiscal planning and serves as a reminder that the cost of purchased or leased equipment (as well as off-the-shelf software) can be deducted under Section 179 of the IRS Tax Code.
In order to provide patients with a good color match for their restorations, I’ve found I need to do more than work with traditional shade tabs and photos. Here is my step-by-step technique for a 60-year-old patient who needed endodontic treatment and crowns on #9 and #10.
The R&E Tax Credit rewards companies investing resources in the development or improvement of its products, processes and techniques. If you qualify, you could receive a credit of $25,000 to $50,000 per year depending on your situation.
One of the reasons lab owners prefer to fly solo is that they have no appetite for dealing with the challenges that come with personnel management.
There’s no doubt that more people mean more issues. However, there are also as many, if not more, positives for having employees, key among them is that they play a critical role in a business’s ability to grow and prosper.
Listening to recent news discussions for or against raising the federally mandated minimum wage to $10.10 has me wondering: What do you feel your responsibility is to your employees? What obligations do you feel you have...
Bart Hyde, Hyde Dental Prosthetics in Fallon, NV, took first place in the 2014 North American Art of Denture Competition. Hyde offers a step-by-step look at his winning entry and his creative thought process.
Over 40% of lab owners plan to retire within the next decade. With retirement on the horizon for so many, selling a laboratory is going to become an increasingly competitive situation. In this buyer’s market, operating a well-run, profitable lab, maximizing its value and standing out from your peers is going to be essential if your exit strategy is to sell your laboratory. Here are some key features buyers are looking at when considering a laboratory acquisition:
* Solid client base. Statistically, even if all goes smoothly, a buyer can lose 10 to 20% of your accounts so he’s going...
Coming from 11 countries and 26 states, over 1,600 laboratory owners, managers and technicians battled a heat wave to join LMT for LAB DAY West on May 16-17 in Garden Grove, CA.
SEO ensures that your target audience has the ability to quickly find your laboratory’s website through a search engine; it’s what gets your website found and helps build traffic to your site.
Just in the past six months alone, there have been a number of laboratory acquisitions by private equity portfolio companies. While private equity is not new to our community, portfolio companies are poised to make the most of our changing industry.
Read More 5 minute read
Established in 1983, 55-technician Van Hook Dental Studio in Tempe, AZ, specializes in full mouth reconstruction and implants and is taking the lead in the surgical support arena.
Since a large percentage of its dentist-clients are specialists, Van Hook is a complete dental imaging center facility that serves their surgical needs. The facility has a state-of-the-art I-Cat CBCT scanner that’s used for surgical and orthodontic scanning, implant planning and surgical guides.
“Starting with only a CBCT scan, we’re able to combine multiple files to design and fabricate a final restoration,”...