Endo Mastery

Marketing Tip:  April Showers

Ensure your referrers stay dry during unexpected April showers. Branded umbrellas with your logo not only offer practical utility but also serve as a memorable token of appreciation for their continued support. Let the spirit of thoughtful giving brighten their days amid the April rain. 

Why coaching works

DEBRA MILLER

DIRECTOR OF COACHING

A few years ago, a young couple in their early thirties finally decided to renovate their ensuite bathroom. They had a spa-like vision: deep soaking tub, double rain shower with body jets, quartz and designer tile, etc. They had been dreaming about this vision ever since they bought their 40-year-old house.

  

To save money, they were going to do as much of it themselves as possible. “Except for a plumber and electrician, everything else we can order from Amazon and learn from YouTube. We’re in no hurry, and it will be fun!”, they said. Furthermore, to inaugurate finally pulling the trigger on the project, they had ceremoniously demolished their existing boxy 1980s vanity one weekend. “We’ve begun!”, they exclaimed. 

 

Eight months later, practically nothing else had been done. They had an extensive list of items on their Amazon Wishlist, but nothing had been ordered. All their initial energy had subsided, and they were facing a stark reality: they didn’t know what to do first, how to organize and prioritize, or even which YouTube video to believe because there was a lot of conflicting advice from people of uncertain qualifications. Every question seemed to result in more questions, leading to “paralysis by analysis”, and their ability to get past that was limited by everything else in their life that they had to do (career, family, etc.).

  

They seemed resigned to the idea that “someday” it would be finished even though they had no specific plan or momentum. In the meantime, they had to accept a lot of compromises since their bathroom had just bare pipes where their vanity had been. They were brushing their teeth, shaving and putting on makeup in the kids/guest bathroom which created stress and congestion every day. 

 

Despite being committed to do-it-yourself, they were becoming more frustrated as the weeks and months continued to roll on. Finally, a neighbor stepped in and offered to guide them. This man had spent his career building and renovating houses, and he began to meet with the couple every two weeks for four hours.

  

Together, he helped them plan all aspects of the project, including what needed to be done in what order. The couple was coached through some key choices and advised against pitfalls to avoid. They were given instructions and standards to meet, and (most importantly) what to get done in the next two weeks. The coach helped them with buying lists for each stage, and in some cases had access to specialty tools they could use for some tasks. 

 

Four and half months later, the master bathroom was complete and as perfect as they had envisioned. They were so happy and had so much pride in what they had accomplished. And they understood what made the difference: “Once we realized we needed a coach, we could trust the process and actually make progress.” 

 

Investing in your practice

As an analogy to your practice, many doctors can relate to the above story. Many doctors spend years living with compromises (some big, some small) and always seem to be waiting for “someday” when the conditions are right to make progress. The do-it-yourself mindset is pervasive, but there are questions about priorities, timing and resources. Plus, of course, keeping the practice running, not disrupting the daily flow and training the team.

 

Coaching empowers you to be a better business owner who is responsible and accountable for growth and success. A coach does not do all the work for you, but guides and supports your practice with strategies, resources, tools, knowledge and experience so your vision can be achieved as effortlessly, efficiently and enjoyably as possible.

  

It’s that simple. Can you do it on your own? Sometimes. Will you do it on your own? Maybe someday, but how long can you wait? This could be your best year ever if you invest in coaching to transform your practice and transform your life.

  

The best way to start is with a complimentary practice analysis where you can tell us your vision and we can look at your “big picture” practice factors to begin mapping out a plan. You can schedule a practice analysis when it is convenient for you. If you are coming to AAE24 in Los Angeles, we can meet face-to-face (just choose a date and time during the AAE event days). 

Show me the love: endodontic market share is growing

CYNTHIA STAMATION

CHIEF EXECUTIVE OFFICER

Market trends can be powerful forces that shape the trajectory of any business. When market share goes down by even a few percentage points, profitability can take a big hit. That’s because most business expenses are a sunk cost, and so declining revenues are a direct hit to the bottom line. Likewise, when market share increases, profits can surge for the same reason: expenses have already been incurred, and increased revenues flow directly to the bottom line.  

 

In the world of dental specialists, the elephant in the market is the general practitioner population, who are the majority of dental providers and generally considered the front door for patients who need care. GP referrals functionally act as gatekeepers most of the time for patients to receive care from a specialist.

 

For a variety of reasons (economic goals, new clinical technologies, corporatization, etc.), the overall trend in the GP market has been to expand their procedure mix, often taking on procedures typically referred to specialists. As a result, GPs are increasing their market share at the expense of referrals to specialists in many significant areas: 

AAE study: good news for endo!

In October 2023, the AAE published a study showing just how powerful these market shifts are. The study focused data derived from insurance-reimbursed claims. Over the period of 2019 to 2023, some highlighted trends include:

The period of the study coincides with the pandemic, which could influence trends. For example, patients during that time may have been less receptive to being referred. “Specialist” often invokes the feeling of “expensive”, and during the pandemic, many patients were subjected to atypical economic pressures.  

 

However, endodontics completely resisted and overcame the same GP and patient market forces during that time. Here’s the key result: 

That’s particularly good news because it shows two things:  

Impact in the “back to normal” market

Another result of the study showed is that treatment levels in endodontics have returned to and exceeded pre-pandemic levels. In fact, 2022 saw a 3.3% increase in endodontic procedures over 2019. 

 

So, what does this mean for your practice today? Of course, there can be regional and local factors that affect you differently than the overall national trends. But generally, endodontists today are practicing in an expanding market: growing patient share, growing treatment share, and growing in the overall number of endodontic procedures performed. 

 

Are you feeling growth to the level you should? If you are, then for the reasons I outlined at the beginning of this article, your profitability should be surging over the same period. If you’re not feeling it, there is often an in-practice reason. For example, there could be a weakness in your referral marketing, scheduling or teamwork.

 

The reason you should pay attention to market trends is that they are guideposts for evaluating your practice and business performance. They signal when you may need to adjust in your business strategies to stay on top of your game. If you are uncertain how to approach that task, Endo Mastery can help with a complimentary practice analysis 

Female voices in endo

CYNTHIA STAMATION

CHIEF EXECUTIVE OFFICER

Celebrating women in endodontics 2024

DR. ACE GOERIG

OWNER & CO-FOUNDER

It wasn’t so long ago that female endodontists were a clearly small minority among endodontists. Prior to 1990, less than 20% of endodontic residents were women and that ratio decreased even further as you moved farther back in time. 

 

In the 30-plus years since then, female endodontic residents have more than doubled as a percentage of all residents, and I fully expect that women will form the majority of new endodontists within a few years, following the overall trend in general dentistry. 

 

Overall, this has been a wonderful shift in the demographics of endodontics. One of my favorite experiences is when I have an opportunity to speak to a class of residents or to meet young doctors at various meetings like the upcoming AAE24 in Los Angeles next month. Young female doctors are shaping the future of endodontics by offering unique perspectives and driving innovative approaches to practicing in today’s dental landscape. 

The success of female endodontists

Within Endo Mastery, we have some incredibly successful clients who are women. They prove how caring patient-centered practices can thrive, how strong referral relationships can be established, and how practices can be highly profitable while achieving the doctor’s overall business and life goals. 

 

Of course, most doctors (female and male) share these goals at some level. However, it is notable to me that women seem to more readily embrace the steps to create a “lifestyle” practice that is designed to empower and support incredible family life outside the practice. Women often have greater demands in the home (particularly when it comes to children), so the need for practice success that doesn’t come at the expense of work-life balance is often more amplified and prioritized compared to their male colleagues.  

The impact of female team members

I love the success that women create in endodontics and that is driven by more than just female doctors. Most team members in our practices are women. They create such a caring and supportive environment for patients, and they demonstrate every day the highest level of empathy and communication. This is especially beneficial in endodontics, where patients often experience anxiety and discomfort.  

 

By fostering open communication and building trust, our team members can create a more positive experience for patients. Studies often suggest that women are perceived as more nurturing and compassionate, and that can have a calming effect for some patients who are particularly sensitive.  

Celebrating women in family and life

Today, in addition to women in endodontics, I’m celebrating all the extraordinary women who have shaped my life, including my beautiful wife Nancy, our daughters, and granddaughters. Each of them inspires me with their strength, grace, and unwavering love. I also want to recognize women who have been my friends, mentors and colleagues for their unique brilliance, wisdom, and encouragement. 

SIGN UP

Sign up to receive helpful practice management tips, debt elimination ideas, how to re-energizing your team, and much more.