Latest News and Events

Thank you to Lira Johnson, Employment & Labor Attorney & Partner at Dinsmore, as well as, Drs. Robert & Bobbi Stanley for a webinar plus question and answer session to help dentists navigate the coming weeks as business owners and clinicians. The following questions and more were addressed:

• What do I tell my team?
• How can I pay my team?
• What should I do with retirement while closed?
• What are my rights as an associate?
• What are options for team health insurance during closure?
• Do I pay out PTO?
• Can my employees get unemployment benefits?
• What is the difference between furlough, layoff and terminating employees?

As small business owners, we are faced with financial decisions on a regular basis. Now, more than ever, it is important to take action on some strong financial decisions. If you have bank loans, outstanding bills, credit card balances, etc., you need to put together a 6 –12 month action plan.

Analyze current obligations

The first step is to look at your loans. Banks are now giving three months of payment deferral. That means no payment AND no interest. If your bank has not offered that, you need to call and ask them. Some banks are not offering until they are asked. Your relationship with your banker is more important than ever. Reach out to them and let them know your situation. My banker at Pinnacle Financial reached out to me two weeks ago to let me know that she is here for me if I needed her. She and I have texted and emailed every day this week. Your banker is here to assist and now is the time to ask for help.

If you have credit card balances, your credit card company will work with you. Lenders are deferring late fees for 2-3 months. Call them right away and make payment arrangements if needed.

Establish a line of credit

It is also important to have a substantial line of credit available. Your line of credit should support your business for 3-6 months. If you have not established a good line of credit, call your bank on Monday morning and get the process going. Once the line of credit has been given, you should use your best judgement regarding drawing the cash and having it available in your checking account versus relying on the bank to have it when you need it.

Finally, call all of your suppliers and see if they will work with you on payments for outstanding bills. Ask for deferrals or payment options.

Everyone is in this together right now. We need to remember that CASH IS KING. We need to keep as much cash liquid as possible. This is not going to simply be a two to four week slow-down of our businesses. We need be ready for the long haul.

Dr. Bobbi Stanley has more advice to offer based on her 25+ years as a dentist and business owner and will be addressing subjects like, virtual consults, best use for the doctor’s free time and how to continue paying the team, in the coming days.

*This information should not be substituted for banking and legal advice from trained, financial and legal counselors.

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These are uncertain times, to put it mildly. Never before have we been faced with decisions that are changing so quickly and drastically. Many dentists are unsure of what to do for their patients, their team and their office. Should you close your office as recommended or should you remain open?

It has been suggested that non-essential/elective treatment be stopped. What does that mean? In dentistry, we feel that all treatment is essential. Decay, periodontal disease, even cosmetic dentistry, can be deemed essential. The physical health of the patient (decay and periodontal disease) or mental health (cosmetic dentistry) is important. We do not want to diminish any of this. At the same time, the spread of the COVID-19 virus must be slowed for the sake of our healthcare system, and economy.

The question remains, should dentists open the practice or not? Dr. Bobbi Stanley, co-owner of Stanley Dentistry suggests putting a temporary strategy in place to take care of patients, while also protecting your team and their families. What does this look like?

Phones should stay open

Your phone team can answer any calls as well as make calls to inactive patients. This is the time to implement your reactivation protocol and reach out to all patient who have not been in the office for 18 months or greater. If you are uncertain on this protocol, contact us and we can assist.

Consider opening for limited hours

Consider opening with limited team members (one doctor, one assistant and one administrator). Schedule all emergencies, decay, broken teeth, etc. that are already on the schedule. You may want to consider scheduling hygiene for any periodontal patients during this limited time. In addition to the standard universal healthcare precautions, add more intense health and safety measures.

Your marketing team should be working full time. Marketing team members normally have isolated areas where they can work in the office away from patients and other team members. This is the perfect time to strategize about positioning yourself as the dental leader in your community.

Fluid approach

Dr. Stanley suggests the possibility of the aforementioned limited schedule for one week and a re-evaluation of the evolving situation at the end of the week. It has been suggested that dental offices close for three weeks. This limited schedule may be needed for three weeks. However, prudence suggests a wait and assess as events unfold.

Dr. Bobbi Stanley has more advice to offer based on her 25+ years as a dentist and business owner and will be addressing subjects like, virtual consults, best use for the doctor’s free time and how to continue paying the team, in the coming days.

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At this point, everyone is familiar with the following statement from the American Dental Association (ADA) about dentists and their suggested precautions in the face of the global pandemic of COVID-19 and Coronavirus.

The American Dental Association (ADA) recognizes the unprecedented and extraordinary circumstances dentists and all health care professionals face related to growing concern about COVID-19. The ADA is deeply concerned for the health and well-being of the public and the dental team.

In order for dentistry to do its part to mitigate the spread of COVID-19, the ADA recommends dentists nationwide postpone elective procedures for the next three weeks. Concentrating on emergency dental care will allow us to care for our emergency patients and alleviate the burden that dental emergencies would place on hospital emergency departments.

As health care professionals, it is up to dentists to make well-informed decisions about their patients and practices. The ADA is committed to providing the latest information to the profession in a useful and timely manner.

The ADA is continually evaluating and will update its recommendation on an ongoing basis as new information becomes available.

As clinicians, we are committed to providing the highest standard of care for our patients. As small business owners, we of course worry about staying afloat and caring for our team and family. During these uncertain times, it can be easy to panic. However, it is important to remain calm. This is what your patients and employees see. They are looking to you for leadership as their doctor and their manager. Rise to the occasion. Dr. Robert Stanley reminds his staff, “Calm is contagious.” So, how should you proceed? “Cautiously”, says Dr. Bobbi Stanley, “This is an evolving situation that you must navigate in real time.”

As your continuing education partner, we want to come alongside you in this journey. After all, we are in this together. Here are a few best practices for the coming days and weeks.

Plan:

Decide before your team meeting what you will do as a practice owner. Here are some thoughts to ponder:

• Will you close?
• If you remain open, what additional precautions will you take to ensure the health and safety of you, your team and patients? In our Cary NC practice, the following has been implemented:
  • in reception, patient temperatures are taken
  • patients are escorted from reception immediately upon arrival to a hand wash station and then to an operatory
  • all areas are sanitized between patients, including door handles and light switches
  • hand sanitizer is located in many places throughout the clinic and referred to en route to treatment rooms
  • all team members continue diligently using universal precautions
  • disposable supplies are used responsibly to avoid waste and maximize sanitation
• If you close, what are your plans for payroll and benefits?
• Where can you cutback without compromise? (example: staff meals)

Communicate:

If you have not already, have an unhurried huddle with your team. This is when you will address payroll and benefit concerns. While a crisis, it is also an opportunity for you to cement your role as leader. During this difficult time, your team will mirror your response. While you may understandably be worried, you can inspire confident resilience that will be passed along to your patients.

Additionally, let your patients know what extra precautions your office is taking and/or your modified hours. Here is sample verbiage to use on your website, email communications and social media platforms (courtesy of California Dental Association). Be certain to reiterate that sick people should not come to the office and there will be no cancellation fee.

In order to ensure the continued health of our patients, we are suspending nonessential or non-urgent dental care for the next 14 days. The health and welfare of our patients and our staff are the utmost priority and we want to do our part to limit the spread of the coronavirus, to reduce patient hospitalizations and lessen the strain on resources needed to treat patients. I value your assistance in making this a smooth transition. I appreciate your commitment to working together to get through this difficult time.

Be Nimble & Utilize all available resources:

This is an unprecedented circumstance. No one has seen a situation like this in our modern times and there is no roadmap. You need to do what is best for your practice, employees, patients and family. As the situation evolves (hourly), adjust your plans as needed. This is not frivolous, it is responsible.

What does your practice insurance cover? Do you have loss of use insurance or key person insurance that might help you meet payroll?

In addition to insurance, research other resources as well. Federal and state governments are putting economic support in place to assist private citizens and business owners—stay abreast of these options and use when possible.

While borrowing money should not be a first resort, we are in survival mode. If you do not already have one, consider opening a line of credit. On the plus side, interest rates are at historic lows.

Contact creditors to see if there are options for delayed payment in order to conserve cash reserves in the near term. This may assist you in caring for your employees.

Whatever your circumstance, be well.

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Will you be headed to the Thomas P. Hinman meeting March 19-21? If so, we want to say hello!

Drs. Robert and Bobbi Stanley have been invited to present throughout the event and Stanley Institute will also have a booth! Stop by Booth # 2116 for some Stanley swag and learn more about our unique course offerings.

Check out the class schedule below and register on the Hinman website:

Dr. Robert Stanley

Th311 9-11a: Choosing an Implant System for Predictable Aesthetics

Th233 1-3p: Implant Design: Does It Really Matter?

Fr256 10:30-11:30a – Pigmented Gum Solutions

Fr145 1:30-3:30p – Rationale for Guided Implant Surgery: Hands-On

Sa365 9-10a: The Five-Thread Rule: A New Guideline for Predicting Primary Stability With Dental Implants

Sa160 12:30-2:30p – Rationale for Guided Implant Surgery: Hands-On

Dr. Bobbi Stanley

Th215 10a-12p: Streamline Your Business: Creating a Cash Flow Mindset

Th 200 1:30-3p: Business Office Bonanza : Grow Your Dental Practice With the Best Marketing Secrets

Fr 129 9-11:30a: Hands-On Record Gathering for Traditional Orthodontics

Fr137 1-3:30p: Band and Brackets

Sa 384 10-11:30a: Grow Your Dental Practice With the Best Marketing Secrets

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Stanley Institute for Comprehensive Dentistry is pleased to announce that Drs. Robert & Bobbi Stanley have been named leaders in Continuing Education by DentistryToday for the 3^rd year in a row!

Drs. Stanley are co-founders and lead instructors at Stanley Institute and partners at Stanley Dentistry, a comprehensive dental practice in Cary NC. As their practice grew and they expanded their dental acumen through vigorous participation in local, state, national and international study clubs and courses, they were urged by colleagues to share their expertise with other dentists. In 2015, they began offering courses at Stanley Institute that included implant classes with a focus on prosthetic planning protocol, and business courses geared toward a dental small business owner.

In tandem with duties at their Cary NC dental clinic and instructing at Stanley Institute, Dr. Bobbi is a Senior Instructor at the International Association of Orthodontics (IAO) in Milwaukee, Wisconsin and The Facial Beauty Institute in Memphis, Tennessee. Dr. Robert Stanley is a Key Opinion Leader and consultant for leaders in the dental industry including, Hu-Friedy, BioHorizons, ndXNsequence and Acteon.

Additionally they are both Adjunct Professors in the Department of Prosthodontics at their alma mater, the University of North Carolina at Chapel Hill School of Dentistry.

“It is an honor to be selected again by Dentistry Today”, said Dr. Robert Stanley. “Dr. Bobbi and I are passionate about dentistry and we find it very rewarding to help others raise their standard of (dental) care”, he continued.

Dr. Robert Stanley is a Diplomate in the American Board of Oral Implantology (ABOI) and the International Congress of Oral Implantologists (ICOI), a Fellow in the Academy of General Dentistry (FAGD) and a Fellow of the American Academy of Implant Dentistry (AAID).Dr. Bobbi Stanley is a Master in the Academy of General Dentistry (MAGD), Diplomate in the International Congress of Oral Implantologists (DICOI) and a Fellow at the Las Vegas Institute for Advanced Dental Studies (LVI).

In addition to their professional accomplishments, Drs. Stanley are parents of four children and are fitness enthusiasts.

Congratulations to both Drs. Robert & Bobbi Stanley on your achievements!

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