Practice Management & Entrepreneurship PDF

Practice Management &Entrepreneurship Dr. Claudina E. Lagman Grading System LECTURE COMPONENTS GRADE x PERCENTAGE WT. (%) Formative Assessment 40 Quiz 20 Long Exam 15 Periodical Exam 25 TOTAL 100% REMINDERS 1. Respect must be observed at all times whether in a physical or virtual classroom. 2.Be rem...

Practice Management &Entrepreneurship Dr. Claudina E. Lagman Grading System LECTURE COMPONENTS GRADE x PERCENTAGE WT. (%) Formative Assessment 40 Quiz 20 Long Exam 15 Periodical Exam 25 TOTAL 100% REMINDERS 1. Respect must be observed at all times whether in a physical or virtual classroom. 2.Be reminded that everyone should abide by Policies and Guidelines of the University and the College of Dentistry. 3. The manifestation of the university intended outcome (a Centralino) , professionalism among others is expected in attending scheduled synchronous classes, participating in group /team-based learning, submitting output, and exams promptly with integrity. 4.Attend CPD Program related to the course. 5. Participate in case-presentation competition or participate i student forum on Clinical Case. 6. Volunteer in community outreach of MCU COD in adopted Communities. 7. Students are expected to attend the RE- Orientation program during the first week of classes where he/she is expected to read and understand the content of MCU COD Bulletin of Information 2020 and CHED Memorandum Order No. 33 series of 2006 VIRTUAL CLASS 1. Please wear appropriate attire for online class, NO WEARING OF SLEEVELESS SHIRTS. 2. Make sure your space at home is comfortable for online class, with good lighting and free from unnecessary distractions. 3. You are expected to log-in 10 minutes before the schedule. 4. Upon log-in please TURN-OFF your audio and TURN -ON your Video 5.Avoid answering phone calls or texting unless absolutely necessary. 6.Use the chatbox to excuse yourself from the class (i.e., when going to the restroom) 7.Participate actively and ask questions during online discussions. 8.Submit your assignments on time. PRACTICE MANAGEMENT WITH ENTREPRENEURSHIP 1. Manuel Gatchalian and Antonio Baldemor's Compilations on Practice Management 2. Betty L. Finkbeiner, Charles A. Finkbeiner: Practice Management for the Dental Team 3. Bonehill, Jane. Managing Health and Safety in the Dental Practice: A Practical Guide What is Practice Management in Dentistry? Practice management can be defined as the organization, administration, and direction of a professional practice in a style that facilitates quality client care, efficient use of time and personnel, reduced stress to staff, and financial profitability. The Practice of Dentistry Are doctors who specialize in oral health who have earned either a doctor of dental medicine (DMD) degree or a doctor of dental surgery (DDS) degree. THE PRACTICE OF DENTISTRY: A TEAM APPROACH The team approach to dentistry promotes continuity of the care that is comprehensive, convenient, cost-effective (affordable), and efficient Members of the team include dental assistants, lab technicians, and dental hygienists Leading the team is the dentist MANAGEMENT The process of administering and controlling the affairs of the organization, irrespective of its nature, type, structure, and size. It is an act of creating and maintaining such a business environment wherein the members of the organization can work together and achieve business objectives efficiently and effectively Manage to direct your employees to a certain business objective/goal ○ Capitalist someone who is successful in business Someone who hopes to profit by investing money or financing business ventures ○ ○ ○ Need money in order to do business Administrator Bridge Someone who manages a business Dental Manager - administrator of dental clinic ○ ○ ○ GOALS ORGANIZE your dental clinic (proper designing) SIMPLIFY your ways INNOVATIVE - something new (creative & effective); add special or add ons Reinvent ○ ○ ○ Productive Trading of your product in terms of service Trading = babayaran kayo ng patient niyo (income) summary of given product Earning income (for short) ○ ○ ○ INVEST 1st: dental chair 2nd: dental clinic Other ways to gain money: Be a capitalist Loan = RISK Medium size business = Dentistry Hire a Business analyst - The banker will make a plan for your loan Someone who is interested in your business (investors) The True Beginnings of Practice Management Planning the entire dental care delivery facility (dental office) for efficient and effective operation, In terms of good patient-relations, care delivery efficient business management serves as the foundation or The true beginnings of practice management. 1.Attend to the dental needs of patients to the best of his professional capabilities 2.Provide the materials essential to such patients’ dental needs and the community’s as a whole. 3.Derive and enjoy the fruits of his labour due him, in terms of personal income. First Filipino Dentist Don Bonifacio Flores Arevalo (14 May 1850 - 13 December 1920) was a Filipino illustrado, dentist, sculptor, propagandist, and an ardent patron of music and theater. Most importantly, he was the treasurer of La Liga Filipina and the founder of the Sociedad Dental de Filipinas, which is now known as Philippine Dental Association. True beginning of Practice Management “Planning of the entire dental care delivery facilities for efficient and effective operation, In terms of good patient-relations, care delivery, efficient management serves as the anlage or foundation, or the true beginnings of a practice management.” It is through the planning and development of a wellestablished practice the we can partake responsibilities such as 1. Attend to the dental needs of patients to the best of his professional capabilities; 2. Provide the materials essential to such patients’ dental needs and the community as a whole 3. derive and enjoy the fruits of his labor. Dentistry is a health care profession that has a two fold role: To provide health care service To make a profit as a small business 1. As a health care provider One should provide quality care for the patient, following standards of care established by government agencies and the profession itself. As a health care provider we have the following objectives: Provide relief of pain from dental origin Help prevent pain by practicing preventive dentistry Help maintain patients’ personal appearance Help patient masticate their food throughout their lifetime and Assist in maintaining good oral health 2. As a business An enterprise in which one is engaged to achieve a livelihood, the dental practice must meet the following criteria: Operate efficiently Be productive Create a profit Development in changing times The traditional education of dentist has placed a great emphasis on developing a highly competent diagnostician and clinician but has often left a noticeable void in the area of practice management. We faces an ever changing population, heightened consumers rights, increased state and federal regulations and expanding group practices. Answer to the demands Emphasis on practice management! You would ask “HOW?” How to do it? Business assistance becomes vital auxiliary by maintaining records Implementing business systems Managing business operations and maintaining communication between the dentist, the staff, the patient and the community. Adjunct to Dental Practice Management Guidance To the would-be dentist or the novice in the dental profession, the dental practice management alone is not enough. Nor will the learnings, whether academic and clinical, (learned, absorbed, retained and applied in actual practice) from dental schools who provides completely how the profession should be practiced. “ Dentist as innovator must go for what is NEW every now and then”, “ Each one must be an au courant” Creativity, imagination, enthusiasm and confidence all together establish a foursome for one’s practice, who must also maintain flexibility and adaptability to the constant change in todays complex living. *(To be au courant is to be well-informed about something. , being up to date on a certain subject) Goal of Dental Practice Without a Plan, nothing that should be established can achieve its maximum potential. Management is the process by which human efforts are coordinated and combined with other resources to accomplish organizational goals and objectives. Planning of the entire dental care for efficient and effective operation, in terms of good patient relationship, community service, and to provide the proper treatment serves as the goal or purpose of our Dental Practice. Objective of dental practice 1. To enable the dentist to analyze his needs and recognize the need for help from other professionals. 2. Initiate procedure which will help him be more systemic and efficient. 3. Carry on with the personal and business conduct in a flexible yet controlled manner and carry on a globally profitable business ethically and with respect for relevant laws. Concept of Practice Management Dental Practice is precisely a profession, but in the total practice, it becomes a business as well, it must be guided by the good principles of business conduct. Earl S. Johnson the author of “a Social Scientist Looks At The Profession” (1957), states that “ The essence of a business is that, its chief criterion of success is the financial return it offers its owner or owners of capital. “The essence of profession is that, although men enter it for livelihood, the criterion of its success is the quality of the service rendered.” It should not be reduced, however, that the profession casts off the monetary considerations, But rather, while considering recompense, the profession shows more concern on the Professionals 1. health 2. safety 3. good government, 4. informed minds, etc. Labour Dental Practice as Business Materials Good Government Inform ed Minds Product Services sale Profit Equipment Health Safety To provide the capital indispensable for operation. One need not refute this statement. In its pure and ethical interpretation, it yields as a fine device for distinction. Should the dental practitioner fail to put into practice those principles of sound business conduct indicated, he might find himself either. 1. The most debt - ridden yet excellent practitioner in his venue of practice; or 2. suffer from a feeling of insecurity due to a dwindling or diminishing practice, regardless of his financial capacities. R. L Jergensen, author of “Basic Elements of a Program for Effective Practice Administration,” states that the approach to the problem of dental productivity will have many similarities to that which would be employed in studies for the purpose of increasing the productivity of a business concern. Despite existing disparities between. A professional dental practice and a business concern; a dental practice ,in effect, is a type of genre of business that: 1. Produces a product; 2. Avails on labour, materials and equipment for a price; and 3. Sells its product (services) at a profit to provide the capital indispensable for operation. ASSIGNMENT: 1. Discuss dentistry as a business and describe the importance of identifying dentistry as a service profession. 2. Explain the dual role of dentistry as a business and a healthcare provider. REF: Betty L. Finkbeiner, Charles A. Finkbeiner: Practice Management for the Dental Team