Dentistry is Your Business
It is delightful to meet so many new CADS members, particularly the new(er) dentists. The CADS Study Club began in October with Dr. Don Taylor sharing his experiences and challenging the emotional intelligence of the audience. Aside from Don and me, most of the study club members are recent graduates, or have been in practice for only a couple of years. This caused me to reflect upon how we (can) personally grow in dentistry. The primary goal of the Study Club is enhancing our knowledge and skills (academic/technical success) through meeting with our peers (social interactions). However, we have already been doing this for a long time. The next trek of our dental careers is being successful with the business of dentistry. The Study Club is also a part of learning the dental business.
At the time we graduate as dentists our personal foci have been academic success and social interactions with our friends. We knew/know very little about business which is understandable because we were (mainly) taught in an institution (dental school) by instructors in clinics. Truthfully, 7 years after graduating dental school (and completing 2 residency programs and a fellowship) I decided to open a solo private practice, but I didn’t know the difference between an IRS Form 941 and a Z-28, let alone about loans, leasing office space, insurance, accounting, hiring and managing employees, etc. So, how did I do it?. . . by having long talks with my peers (about problems, solutions, and successes), consulting numerous business and legal professionals, but mostly “spending” time and money learning about the many facets of operating a practice-business.
CADS has three great venues to help every member hone their business skills: Study Club, Mentorship, and the monthly meetings. These events enable friendships and information sharing. It is irrelevant if you are a specialist or family dentist, in private or corporate practice because our long term goals are the same: Financial stability, enjoy the lifestyle we desire, and to comfortably retire someday. Organized dentistry (CADS, TDA, ADA) benefits you by helping you attain these goals. CADS provides local opportunities (meetings, mentorship, etc.). The TDA provides educational events, legislative representation, and business help (i.e., TDA Perks). Do you know about the ADA Find-a-Dentist™program?
The professional dues we pay every year are a great value. I often cringe when opening any bill, and used to when opening my dues statement. Now, however, I understand that professional membership in our dental organizations rewards me much more than I pay, so I write the check without reservation. In fact, you can pay your dues in much smaller portions as a monthly credit card debit…a great opportunity to spread out payments. Organized dentistry is for you! Get involved!
By Dale M. Gallagher, DDS, PA
CADS President, 2018-2019