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The Ray Thurow Lecture: The Orthodontist’s Role as CEO: Proven Strategies for Success Dr. David Musich Summary by: Dr. Walter Buchsieb This thoughtful program presented as the Raymond Thurow Lecture by David Musich, Elizabeth Barrett and Randall Berning was called, “Winds of Change.” Mr. Berning stated that 80% of small businesses fail because they have no vision or action plan. Planning should be for 20 years including the associates goals and desires and retirement planning for both the senior doctor and the associate. Elizabeth Barrett stated that staff needs to know that it is worth the effort in the relative pursuit of excellence. “Vision with an action plan can change the world,” she said. Some offices may want a large operation, such as six days a week and a satellite office. Some practices may work five days and combine with a pedodontic practice. Still others may want to work only three days per week. You must constantly communicate your vision. Ms. Barrett outlined a fee based on work done for first phase treatment and if discounts are given that the recipients realize the value. Staff continuing education is a must. Their practice sends the staff to the Annual AAO meeting every two years. She next gave an overview of expenses such as staff costs at 24%, laboratory costs at 4.5%, clinic supplies at 7%, rent at 8%, office supplies at 2% and legal fees at 1.5%. The office focuses on wellness and staff reviews are done on a regular basis. They allow six days per year for sick leave and the staff that is expected to carry an extra load during the unexpected absence of an employee is remunerated by extra hourly wages. Patients are routinely seen on an 8 to 12 week basis. Dr. Musich follows an 8 step concept:
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