Dental Specialties

1. Private General Dentistry Practice 

Consulting Services Provided:

• Opportunity Analysis

• Purchase of existing dental practice

A student at the Creighton University Dental School in Omaha, Nebraska reached out to InnoMed after hearing a presentation InnoMed gave at the dental school. He was trying to choose between several opportunities which included buying vs. joining a practice and starting a dental practice on his own. InnoMed partnered with an accounting firm to analyze specific opportunities he had found in Oregon and Idaho from both a personal and financial perspective. He ultimately decided to work as an employed dentist at a national dental franchise for a year, then purchasing a practice in his home state of Idaho, with InnoMed assisting him through every step of the process. 

2. Private Dental Practice

Consulting Services Provided (2 phases): 

• Buy/Sell of Private Dental Practice

• Practice Analysis

• Market Research

• Organizational Analysis

• Mystery Patient Visit/Staff interviews

• Recruitment of New Dentist

• Marketing Plan for New Dentist

• Succession Planning

• Transition to New Ownership

 A very successful dental practice based in Lincoln, Nebraska had been serving its high-end clientele for over 30 years, but after a life-changing event, the dentist determined it was time to find the right individual for an associate track to ownership— and InnoMed was brought in. Interviews were conducted with the dentist and his staff to gain insight on the working relationships and culture of the practice. An action plan was created with succession to be completed within three years. After thorough research and analysis with a local accounting firm, a value was placed on the practice and general transition structures were presented. A buyer was found and the transition of the practice was completed a year early with both parties pleased with the process. 

3. Private Dental Practice

Consulting Services Provided: 

• Practice Associate/Transition

• Management Search

• Employee Interviews and Surveys

• Mystery Patient

 InnoMed was contacted by a local accounting firm who was assisting a dentist in Kansas that desired to sell his practice. InnoMed was tasked to evaluate the opportunity and put together an informational packet for potential buyers. As luck would have it, a dental student finishing up at the University of Nebraska Dental School contacted the firm to assist him with evaluating a different opportunity, which upon closer review, was not going to be the best fit for him and his family. Our team presented the opportunity in Kansas, which in turn led to InnoMed accompanying the buyer and his wife on a site visit to meet the owner and tour his practice. InnoMed then conducted an analysis to determine the opportunity fit for the dentist and his wife on both a personal and professional level. With the accounting firm’s help, a deal was struck that was fair to both the buyer and the seller, with the selling dentist staying on for a few years as a contract dentist.

Private Orthodontics Practice

Consulting Services Provided: 

• Front Desk Operational Flow Analysis

• Review Collection Policy Review

• Handbook Update

An orthodontist was completing his fellowship at the University of Oklahoma and was opening a new practice in Lincoln, Nebraska, his native hometown. The orthodontist had most of his bases covered, so he utilized InnoMed on more of a sideline consult level. After a couple years of growth, he reached out to InnoMed again regarding various operational challenges, specifically involving the front desk. We conducted a front desk analysis by observing the patient/process flow and conducting staff interviews as a basis for recommendations to improve processes. InnoMed continues to provide consulting services on an as-needed basis.

1. Private Oral and Maxillofacial Surgery Practice (OMS)

Consulting Services Provided 

• Contract Management

• Accounting

• Human Resources

• Strategic Direction 

One of InnoMed’s first engagements, Aaron was tasked with providing contract management services for an oral and maxillofacial surgery practice (OMS) in Durham, North Carolina. Aaron was involved in all facets of managing this small medical practice including bookkeeping and finances, human resources, and marketing. With his oversight, the practice enjoyed a 47 percent increase in net charges and a 40 percent increase in fees received versus the prior year without increased physician time in the office or additional staff.

2. Private Oral and Maxillofacial Surgery Practice (OMS)

Consulting Services Provided: 

• Practice Start-up Assistance

• Pay Policies and Forms

• Handbooks

• Competitive Analysis

• Templates

• Human Resources and Staff Hiring

• Organizational Operations Analysis

This oral surgeon was finishing up his OMS fellowship at the Mayo Clinic in Rochester Minnesota when he reached out to InnoMed. A Lincoln, Nebraska native, he was moving back to his hometown and starting a private oral and maxillofacial surgery practice (OMS). While handling most of the start up himself, he leaned on InnoMed Management Group’s expertise for budgeting, staff handbooks, schedule templates, policies and both human resources and patient forms. Our team also assisted with the market analysis, helped set up the initial fee schedule, and provided a financial analysis of the pros and cons of participating in the call rotation at the local hospital. A few years later as the office continued to grow, the practice contacted us again to conduct an analysis to increase the office efficiencies. An organizational operations analysis was conducted and a plan formulated that would allow the organization to continue to grow and permit the manager to step away from the day-to-day operations and transition to a marketing role.