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Jensen Dental announced the rebranding of its Jensen Digital Solution as the Preciso Digital Dentistry Solution, a complete system of materials, CAD/CAM equipment, software, education and support that...See more allows laboratories of all sizes to produce consistent results and transition to digital processes. All Preciso equipment—including the Preciso S200 Scanner, the Preciso M200 Mill and Preciso M500 Mill—is 3M™ ESPE™ Lava™ materials-approved and validated to work with the latest materials from 3M ESPE, including Lava Plus High Translucency Zirconia and Lava Ultimate Restorative as well as Jensen's own line of lab-branded consumables. Jensen also released the Preciso CAD and Preciso CAM software, offering design and milling functionality with streamlined workflows. In addition, the company launched the InSync FC system specifically designed for staining and glazing Lava Plus and Jensen HT Zirconia full contour restorations. It offers high light transmittance; clear, high-luster results after just one firing; and simple one-coat application without puddling and streaking. The system includes 15 stain pastes delivering all of the VITA® Classical Shade Guide A1-D4 shades and fluorescent stains. "Through Jensen Dental's 35 years of history as a partner to dental labs across the country, we understand the importance of the artistry and craftsmanship that goes into producing results that technicians can be proud of, and Preciso is a solution that matches a technician's personal signature with precision technology," said Joseph Carofano, General Manager of Jensen Dental. To accompany the Preciso Digital Dentistry Solution, Jensen also launched a new website, www.PrecisoDental.com, with information on materials, equipment and education including webinars, white papers and ROI calculators. To speak to a Jensen Sales Consultant for a one-on-one consultation, call 800-243-2000.
...the prevailing attitude is that this is no time to wallow or give up. There's much to be done, help is available and now is the time to seize opportunity.
Faster, Smarter, Better: 6 Financial Strategies to Boost Your Business. Share Your Money Saving Tips Here!
Problem: My lab is tight on cash and I'm looking to better control my inventory costs. Strategy: Keeping a tight reign on your inventory and not stocking a lot of extra materials can be a great idea—especially...See more when it comes to high-priced metals and implant components. On the other hand, you can also save money by buying in bulk—especially for frequently used items like acrylic or ones that have a long shelf life, like teeth. Other strategies to save on inventory costs include combining multiple orders into one to lower shipping costs, taking the time to shop around for the best prices and requesting bids from various manufacturers/suppliers before placing orders. Another way to save money on products and materials is to maximize your buying power by co-oping with local labs to purchase products in bulk. Perdue Dental Laboratory, Sarasota, FL, often partners with the C&B lab with whom it works on combination cases, and the labs save between 5% and 10% on orders of common consumables like plaster, stone and teeth. Problem: How can I ensure I'm getting the best deal from my service providers? Strategy: Renegotiate. From shipping costs to service contracts, ask your providers if you're getting the best rate possible. "In these times, they all want to keep the business they have and you might be surprised at what they'll do," says Doug Baker, Director of Professional and Industry Relations for National Dentex Corp. For instance, when Baker compared the cost of a local pick up and delivery service to hiring a driver and buying a car, he found he could spend less money each year than what the lab was currently paying using the delivery service. "I called the owner of the delivery service, he dropped his prices $1 on every package touched and we saved over $5,000 a year with that one phone call," says Baker. Similarly, over the last three years, Leon Hermanides, CDT, President of Protea Dental Studio, Inc. in Redmond, WA, has twice renegotiated his rent with his landlord by offering to extend the number of years on his lease. The result? He's saving $1,200 a month! Problem: I'm getting ready to sell my laboratory and need to ensure that all of my financial records are in order for potential buyers. Strategy: Work with your CPA to "recast" your financial statements so that a buyer gets the most realistic view of your laboratory's profitability. If you're like most closely held private companies, you do all you can to limit taxes by reducing profits; however, when preparing for a sale you need to recast the profits and remove the perks you take from the business. For example, if your salary is inflated, it should be substituted with an amount that's more realistic if you were to hire a replacement. Also look on your P&L statements for one-time costs such as legal settlements, fines or severance payments that can detract from your profitability and identify them as such. During the due diligence phase, buyers will want to examine income statements, balance sheets, income tax returns and aging reports, as well as your sales history for at least the past three years. Problem: How do I use my income statement to get a better handle on costs? Strategy: When analyzing your income statement, it's important to look at the percentages rather than the dollar figures. Dollars will change from period to period but the goal is to achieve or maintain consistent percentages. By comparing current and past percentages, you can determine where costs are increasing or decreasing in relation to all expenses. There are some industry standard percentages that laboratory owners strive for: • Direct labor and benefits should be between 30 and 35% of sales; if you combine all labor and benefits, this percentage might go as high as 50%. The extensiveness of your benefits package will affect your labor percentage. • Material percentages are usually between 8 and 15% of sales; this may vary depending on the size of your laboratory. For instance, a larger lab might have a lower material percentage because it has more buying power than a smaller lab. Keep in mind that these percentages can vary depending on how you keep your books and allocate expenses. For example, if you work at the bench, the time you spend fabricating restorations should be a direct labor cost whereas your "non-producing time" should be a general and administrative expense. Problem: I have a good client who has recently run up a large balance. I know I have to address it, but I'm not sure how to approach him. Strategy: Start with an honest conversation. If the client truly wants to pay off his debt but is having financial difficulty, you may be able to establish a payment plan or come up with another option. For example, Marc Daichman, Owner, Asteto-Dent Labs, Maplewood, NJ, once had a long-time customer who was having financial issues and ran up a large balance for the first time. "We let it go for 90 days. When we still didn't receive payment, we told him in a very upfront, polite way that he needed to decide whether or not he wanted to maintain his relationship with our laboratory," says Daichman. "As a result, he took a loan from his pension in order to pay off his balance." If the client is unresponsive or becomes belligerent, Daichman takes him to small claims court as long as the amount owed is under $2,000 (the small claims limit in his state). It costs about $20 to file a suit and, he's found that many times, a doctor will choose to pay once he receives the summons rather than spend a day in court. Problem: Given the current economic situation, I'm uneasy letting new clients who have no history with our laboratory run a balance. Strategy: Cut potential losses; set a credit limit for new customers until you're comfortable with their payment habits. "We simply let the client know that, until we've established a history, we have a credit limit of $2,000; once he hits it, he needs to send a payment or we will only deliver new cases by COD," says Dale Chandler, CFO, Maverick Dental Laboratories, Export, PA. "It can get awkward, but we have to ask ourselves, 'how much is too much to lose?'" Usually, if a practice demonstrates over a three-month period that it has control of its finances and pays on time, the lab incrementally increases the credit limit.
Zahn Dental, the Laboratory Division of Henry Schein, Inc., was recently named the preferred laboratory consumables partner for OPT-In Laboratory Cooperative by OPT-In Management, LLC. Zahn Dental...See more joins BEGO USA, Dental Wings and LabStar Software (formerly, Soundtrack) as a key corporate member in OPT-In’s strategic growth. “Working with OPT-In Dental Laboratory Cooperative helps us more effectively reach a market that has always been important to us,” said Rita Acquafredda, General Manager and Vice President, Zahn Dental. “With this partnership, we can more easily provide business support that will help small laboratories operating under the OPT-In brand become more profitable. We are thrilled to be working in support of OPT-In and to hold a strategic position amongst their current list of corporate partners.” As a strategic partner, Zahn will provide consumables and business support to laboratories operating under the OPT-In Brand. “Zahn’s position within our corporate partner network brings us closer to completing the OPT-In vision of an industry working together to serve the common good.” said Dr. Dean Mersky, President, OPT-In Management, LLC.
Proto3000 and Core3dcentres (Core3d) are pleased to announce the formation of a strategic partnership through which they will jointly serve customers across Canada offering them their combined suite of...See more equipment, materials, training, support and milling services. Under the terms of this agreement, customers that purchase equipment from Proto3000 will gain access to Core3d's industry leading knowledge and milling capabilities and will be able to purchase materials from Proto3000 such as high translucency zirconia at competitive prices. Proto3000 customers will also gain access to Core3D's loyalty programs for milling services enabling labs to expand their offerings into areas, such as metal, at attractive price points. The partnership will help democratize the market and empower lab owners to embrace digital technology and increase profitability. Steven Bulwa, Dental Solutions Manager at Proto3000 Inc. says, "We saw a fractured market that didn't need to be that way. With this partnership, customers can count on one source for all their digitalworkflow needs. That one source will make sure customers have access to consumables such as milling blanks and burs of the highest quality at the best prices and that they are properly trained and supported to receive the maximum benefit from their digital equipment." Mark Maier, President - North America's Core3d Centres, says, "We have invested significant capital in systems and know-how and because of our global scale we can offer customers significant cost advantages with both consumables and milling services. In the digital era, a combination of in-house milling and outsourcing to larger milling centres is the most profitable way to structure lab operations. We are here to help support customers identify the best use of resources and support them. We chose to work with Proto3000 because we share a similar philosophy of customer retention through best in class quality and service." The first development from the introduction of this relationship is the Proto3000/Core3d scanner promotion. Purchase a scanner now from Proto3000 and receive free, 5 Core3d Scan Bodies and the Core3d custom abutment library (a $500 value). Also, receive your first abutment or crown free with immediate registration in the Core3d loyalty program where customers are entitled to volume rewards quarterly. The companies also announce the availability of Core High Translucency Zirconia available in 98mm discs. About Proto3000 www.proto3000.com Proto3000 connects companies and individuals to the tools they need in order to achieve greater capability, scalability, and efficiency. We are a company focused on providing solutions, and through the development of our product and service portfolio, we are committed to finding the one that is right for you. Having worked with thousands of companies, from various industries, we have gained an understanding of the digital demands required in research and development, product development, and manufacturing. Our suite of solutions have been carefully selected to ensure that you can meet these demands, while positioning your business for sustainable growth and a competitive advantage. About Core3dcentres www.core3dcenters.com/canada Core3dcentres Canada is part of the Global partnership and is a privately held corporation located in Calgary, Alberta. With a global platform and state-of-art technology Core3dcentres provides dental labs with the most comprehensive spectrum of digital tools, branded materials, and manufacturing solutions in the dental industry. For further information about this partnership, please contact Steve Bulwa at 905-738-1779 ext.205 or email him at Steve@proto3000.com
BROADWAY DENTAL LABORATORY AND DISTRIBUTION is a representative of imes-icore, the German company that manufactures CORiTEC milling machines. Broadway also offers 3Shape Dental Scanner systems; i3Dscan...See more scanning system; exocad software; iCAM V5 CAM System as well as the other iCAM V CAM systems; and Dental Shaper software that allows for the import of different CAD systems. Also available: upgrades to the milling machines and CAD/CAM software that allow for milling options, including implant and abutment design and production; vacuum systems; sintering furnaces; and consumables, including its private-label zirconia and milling tools. 801-955-4878 firstname.lastname@example.org www.broadwaydentallab.com