Dental Articles

> The EFA Investment Approach

There is a science of investing. The body of knowledge for this science is often grouped under the heading Modern Portfolio Theory or MPT and it all began in 1959 with the publication of Harry Markowitz's classic book "Portfolio Selection."

Markowitz would go on to win the Nobel Prize in Economics for his groundbreaking insights. This work was expanded upon by Stanford's William Sharpe (another Nobel winner), Eugene Fama, Merton Miller, and many others.

While markets are complex adaptive systems too chaotic to allow for perfect prediction or control, we have learned much about how to control risk and capture returns. There is a science of investing, which I employ to guide the investment strategy of my dentist clients.

Northern Dental Alliance member Heritage Construction Companies of Elk River builds and remodels dental offices throughout Minnesota and the region.

This case study covers three offices: two were expanded & remodeled and the other was new practice construction.

All three building projects involved the same client: Smile Center. The offices are located in Big Lake, St. Paul and Brooklyn Park.

Besides creating exceptional restorations for its clients, Renstrom Dental Studio provides various levels of continuing education. Helping dentists stay on the leading edge of cosmetic and restorative dentistry is extremely vital.

Renstrom provides the information their dentists need to be successful – from case development to cost efficiency. The following FAQs offer insight into their straightforward strategy.

• Why do my PFM and gold crowns seem to be going up in price?
• How can I reduce costs?
• What should be used for cementing/bonding e.max restorations?
• Can I still send my cases to Renstrom if I am taking digital impressions?
• What is the cost of an implant abutment and crown

Dentists and other business owners are invited to a BABO (Bring a Business Owner) Event on Friday, March 19, 2010 (more details below)

The financial talk and business forum are sponsored by Rick Epple, CFP®, of Epple Financial Advisors, LLC (NDA member) and Margaret A. T. Cronin of Grandchamp, Guyette & Cronin, PLLC. 

Sooner or later, you, like every dental practice owner, will need to transfer ownership of your business. Selling the your dental office is the final part or your role in building it. For most business owners, this is an emotional event. It is also a complex process involving financial auditing, confidentiality issues, title transfers, price negotiations, all while continuing to run your dental office.

Marketing IS communication. Communication makes things work. Nothing occurs in our society or changes our approach to living without a heavy dose of communication. Dental patients, dentists, and dentistry practices all work (or don't) with gears greased by communication and the 'marketing' surrounding it.

Of course, our brains are always there to mess things up. The mind easily falls into stereotypes. The cerebellum will often travel down the rabbit hole of wackiness. Our prehistoric noggin presets can and will, without warning, leap over the logic wall. Therefore, we need to take the time to strategize rather than merely let our evolutionary senses propose pre-programmed reactions.