Here’s a summary of the latest economic outlook for dentistry according to the American Dental Association’s Health Policy Institute (ADA HPI):   Good News for Appointments: Wait times are down! New patients waited an average of just over two weeks for appointments in the first quarter of 2024, a significant decrease from nearly 23 days … The post Dental Care Update: Good News for Appointments and Staffing! appeared first on Whalen & Company, CPAs ..read more

Happy 2024, Whalen dentists. January is a great time to re-evaluate your practice’s insurance plan participation. To assist dentists with this task, the ADA has developed several documents designed to streamline the process. These include the following: Contract Negotiation Guide, Terminating a Network Agreement, and What Every Dentist Should Know Before Signing a Dental Provider … The post Dental Insurance Contracts Renegotiation appeared first on Whalen & Company, CPAs ..read more

Please be advised that the ADA has released an updated insurance claim form for 2024, which will go into effect on January 1, 2024. To ensure seamless processing of your insurance claims and avoid any delays, it is crucial to update your practice’s insurance claim software to accommodate the new form.   Key Points to … The post ADA Standardized Form Changes appeared first on Whalen & Company, CPAs ..read more

In the first part of our embezzlement series, we discussed the who, what, and why of embezzlement. This second part will focus on lowering your chances of becoming an embezzlement victim. The Perfect Target David Harris, CEO of Prosperident, a company of experts investigating dental embezzlement, believes that no one can prevent the crime but … The post Don’t Be a Victim: Identifying and Understanding Embezzlement appeared first on Whalen & Company, CPAs ..read more

Imagine this: Dr. Thompson had built a thriving dental practice over twenty years ago. He’d weathered staffing changes and insurance headaches. But nothing could have prepared him for the devastating discovery—a trusted employee had been embezzling for years. Unfortunately, this story isn’t unique. While staffing shortages and low reimbursements dominate headlines, a more insidious threat … The post Embezzlement: It’s Probably Already Happened to You appeared first on Whalen & Company, CPAs ..read more

The post The Hidden Threat – Dental Embezzlement Statistics appeared first on Whalen & Company, CPAs ..read more

Summary In a recent interview with Dr. Michael Pappas, a seasoned dentist and practice owner, we uncovered valuable insights into the keys to success in the dental industry. Here are the main takeaways from our discussion: 1. Building a Winning Team: Dr. Michael Pappas emphasized the importance of hiring team members who align with the … The post 02:Whalen Wisdom Hub – Exclusive Interview With Dr. Michael Pappas appeared first on Whalen & Company, CPAs ..read more

So, you’re considering adding an associate dentist to your practice. You’re not alone! Many dentists explore this path to expand capacity, grow their practice, or plan for succession. But how do you know if it’s the right decision, and how do you ensure a successful outcome? This three-part blog series examined the critical considerations for building a thriving … The post Building a Thriving Dental Associateship: A Three-Part Guide appeared first on Whalen & Company, CPAs ..read more

Part 3: Finding the Right Dental Associateship The American Dental Association reports that about half of all associateships fail (Ebert, n.d.). Other sources paint a more drastic picture, claiming that 8 in 10 associateships dissolve (PTS, 2022). Dental associateship failures emotionally impact the owner, the staff, and the associate, making it harder to trust and … The post Successful Dental Associateship Recruitment appeared first on Whalen & Company, CPAs ..read more

The post 2024 Dental Compliance Reminder appeared first on Whalen & Company, CPAs ..read more