A single breach impacting any of the multiple cloud-based or internally connected tools, devices, and hardware and software solutions found in the typical dental practice or dental services organization (DSO) can put a stop to thousands of dollars of billings per day.
Add to that the cost of recovery and potential fines related to compliance issues if any of those devices or solutions touches patient information, and the outcome can be financially devastating.
For some, it is insurmountable.
Complicating the security environment for dental organizations is that the myriad of connected and interconnected technologies makes it impossible for a one-size-fits-all solution to adequately protect every mission-critical piece of dental equipment or software. Which is why an audit to identify and address security and cybersecurity vulnerabilities is a smart move for dental organizations of all sizes.
A uniquely vulnerable environment
Dental practices and DSOs are highly attractive targets for hackers and other nefarious cybersecurity actors. As a result, the industry experienced a 45% increase in data breaches since 2022.
There are several reasons why dental organizations are being targeted. Topping the list is the highly lucrative patient data they hold, including personal, banking, and insurance information, as well as the practice’s own financial and other information. Also at play is a perceived lack of robust security systems and limited employee training in security.
Once underway, the average hacking runs for 90 days, during which time hackers can plant malicious code, freely explore any accessible data, plan new ways to exploit stolen information, and identify inroads into connected systems outside the practice.
The threat level is high enough that the FBI in May 2024 warned the American Dental Association (ADA) and American Association of Oral and Maxillofacial Surgeons (AAOMS) about a credible, active cybersecurity threat to oral and maxillofacial surgical practices and expressed concern that general dental could eventually be targeted.
In terms of weaknesses, DSOs and dental practices face five primary cybersecurity vulnerabilities: phishing, ransomware, social engineering, fake software updates, and business email compromise (BEC). Security-wise, physical security and access control are the biggest problem areas, while other threats come in the form of financial fraud, insider threats, and identity theft.
The consequences of a successful breach are financial and reputational devastation, recovery from which can take years. If patient records are compromised, dental organizations could potentially face heavy fines ranging from $100-$50,000 for each HIPAA violation—not to mention loss of patient trust.
Marchex (NASDAQ: MCHX), which harnesses the power of AI and conversational intelligence to drive operational excellence and revenue acceleration, announced the launch of its innovative AI-powered signals, specifically designed to transform how dental practices understand and engage with their patients.
Its solutions go beyond surface-level data, offering actionable insights that help practices prioritize high-value appointments, tailor specific and targeted marketing efforts, and stay ahead of emerging patient needs.
Key Features of Marchex AI-Powered Signals:
Lead Category: Track whether patient conversations result in new or follow-up appointments, simplifying marketing-driven appointment attribution.
Lead Reason: Gain insights into why specific outcomes occur—such as routine cleanings or emergency care—to optimize campaigns and drive bookings.
Clustered Topics: Group inquiries by themes like practice hours, emergency services, or referrals to identify common patient needs and streamline operations.
Generative Topics: Detect emerging patient concerns in real-time, allowing practices to respond proactively to shifting demands.
Lead Value Indicators: Evaluate appointment potential—routine, emergency, or cosmetic—so teams can prioritize high-impact bookings and prove efficient ad spend.
Lead Value Score (coming soon): Practices will soon be able to classify appointments by value to focus on the most impactful patient interactions.
Why It Matters
Because dental practices operate in a competitive environment where understanding patient intent and acting on insights can make or break growth, Marchex’s AI solutions provide the precision and depth needed to drive better marketing ROI, improve patient engagement, and increase operational efficiency.
Marchex’s new dental-focused signals empower practices with actionable insights that go beyond traditional metrics. The solution helps dental practice teams focus on what matters most: providing exceptional patient care while growing their business.
Halo Dental Technologies, which is pushing dental practice innovation through the development of its digital mirror, announces that it has been honored with the prestigious Red Dot Award for “Design Concept 2024” for its groundbreaking product, the Halo Digital Mirror.
The only device of its kind, the Digital Mirror is set to transform dental care by enhancing patient communication, improving chairside diagnosis, and streamlining clinical workflows.
Crafted to innovate patient engagement, the Digital Mirror seamlessly integrates into dental practices, elevating patients’ comprehension of their care during procedures. The Digital Mirror empowers patients with visual aids for enhanced understanding and engagement in their care through high-quality images.
Exceptional Features and Benefits
Designed with the needs of both patients and dental professionals in mind, the Halo Digital Mirror offers a range of benefits:
Chairside Image Capture and Video Stream: The device streamlines patient education and treatment planning with effortless intraoral image capture and video streaming.
Streamlined Processes: It integrates a wide range of commonly used tools and processes into one handy device, designed for all-day use.
Enhanced Oral Cavity Visibility: Featuring integrated LED diffused light and a wide-angle camera, the mirror ensures improved, fog-free visibility for detailed examinations.
Durable Construction: Made of high-strength titanium and cassette autoclavable materials, the Halo Digital Mirror offers enduring durability without compromising on weight and feel, similar to conventional dental mirrors.
Transforming Dental Practices
The Halo Digital Mirror not only enhances patient communication and dental professional efficiency at the point of care but also improves overall customer care by reducing workflow interruptions and potentially lowering costs.
Professional Transition Strategies (PTS), a company that facilitates dental practice purchases and mergers & acquisitions, proudly unveils its latest venture Headwaters Practice Transitions. As a trusted leader in the dental mergers and acquisitions space, this expansion marks an exciting chapter in the company’s journey as it continues to grow and redefine dentistry.
Headwaters Practice Transitions is dedicated to serving smaller dental practices seeking personalized solutions for their transition needs. Headwaters Practice Transitions caters primarily to doctor-owners who aspire to sell their practices to another practitioner.
“As the industry continues to evolve, we recognize the importance of providing tailored solutions to meet the range of clients’ needs,” said Kyle Francis, founder and president of Professional Transition Strategies. “With the launch of Headwaters Practice Transitions, we are ecstatic to extend our expertise and personalized approach to these practices, empowering dental entrepreneurs with the resources they need to navigate transitions seamlessly.”
With a team of seasoned dental M&A experts led by Managing Broker Todd Sheets, Vice President of Sales Kim McCleskey and M&A Consultant Dominick Ricciardi and a deep understanding of the intricacies involved in practice transitions, Headwaters Practice Transitions is poised to deliver unparalleled support and guidance every step of the way. From valuation and practice marketing to negotiation and closing, Headwaters Practice Transitions offers comprehensive services designed to optimize outcomes for both sellers and buyers.
For more information about Headwaters Practice Transitions and its services, please visit headwaterstransition.com.
Halo Dental Technologies, the developer behind the much-anticipated Halo Digital Mirror, is bringing the innovation to Journées Dentaires Internationales du Québec (JDIQ), a flagship event organized annually by the Ordre des Dentistes du Québec (ODQ) May 27-28, 2024.
Halo Dental Technologies will showcase its Montreal-based Digital Mirror, introduce the new technology to Halo’s home community, and promote the product’s waitlist to receive the mirror when it’s ready for delivery in early 2025.
The Journées Dentaires Internationales du Québec is the largest bilingual (English/French) dental convention in North America. For more than five decades, the JDIQ has been bringing cutting-edge technologies and best practices to the dental community to shape the future of dentistry. It is also a crossroads of opportunity for sharing excellence in knowledge, continuing education and networking. JDIQ brings together audiences from near and far who are passionate about oral health.
While at JDIQ, Halo will be giving dental professionals in the province the opportunity to experience the device first-hand, see its features, capabilities, design traits, and use cases in action.
JDIQ serves as a dual focus for Halo, not only as it allows the company to introduce one of dentistry’s biggest care device innovations in decades. The Digital Mirror has already exhibited extensively throughout the United States, receiving praise for it filling such an obvious need in modern dentistry, and for its ability to streamline patient care and education chairside.
Additionally, JDIQ is a homecoming of sorts for Halo. While The Digital Mirror was announced earlier this year, the Montreal-based conference takes place in the place where the device was conceived, developed, engineered, and built.
The Halo Digital Mirror ushers in a new era in dental instrumentation, redefining patient communication and enhancing oral healthcare delivery. Crafted for innovative patient engagement, The Digital Mirror seamlessly integrates into the practice at the point of care, helping elevate patient’s comprehension about their care during dental procedures.
Dreamed up by Dr. Claude Chamoun, a Montreal-based dentist who has practiced for 18 years, the Halo Digital Mirror came to life from the basement of his dental office and has been well supported by local dentists including Dr. Yvan Poitras, founder of Institut Canadien d’Implantologie.
“JDIQ is a unique event for us at Halo, because it’s the only such conference in Canada, in our home city, where the Digital Mirror was conceived, brought to life, and supported by a local community of dentists. It serves as a sort of local unveiling for the company after a busy year of introducing the device to dentists internationally,” said Peter Khoury, CEO of Halo Dental Technologies. “We’ve been overwhelmed by positive support wherever we’ve gone, so we’re thrilled to come home and introduce the Halo Digital Mirror to Canadian dentists.”
The new Halo Digital Mirror enhances patient communications and allows for greater efficiency at the point of care. The new device also improves customer care while reducing flow interruptions and potentially lower costs.
Halo designed The Digital Mirror to eliminate disruptions between the provider and patient in the care setting, reducing “noise” during the patient visit. It also allows providers to spend more focused time with the patient – improving the patient experience and enhancing clinical workflows and data capture.
Halo Digital Mirror benefits
Specifically, the Halo Digital Mirror offers:
Patient Communication: Streamlined visual communication with the patient, allowing the concept of co-diagnosis with the patient to empower them through understanding and control.
Image Capture at your fingertips: Seamless voice activated image capture and annotations for clearer documentation.
Streamlined processes: A wide range of often-used tools and processes rolled into one handy device that is designed for all-day use.
The Digital Mirror also provides integrated LED diffused light and a wide-angle HD camera for improved fog-free visibility to facilitate detailed examinations. It’s also made of high-strength titanium construction for enduring durability without compromising on weight and feel that is similar to conventional dental mirrors.
With these benefits included, the Halo Digital Mirror is designed to participate in every part of the patient’s clinical journey – from education to examination.
To see, touch, and experience the Halo Digital Mirror at JDIQ, visit the Halo booth #1905.
For more information about The Digital Mirror and to join the waitlist, visit halodental.com.
About Halo Dental Technologies
Halo Dental Technologies is a pioneering developer of innovative solutions for the dental industry. With a mission to revolutionize patient care and streamline dental workflows, Halo Dental Technologies leverages cutting-edge technology and industry expertise to deliver unparalleled products and services.
Doctors with an entrepreneurial mindset are always looking for opportunities to grow their practice. Some will go the traditional route, using bank financing to open new locations or acquire practices, perhaps with a goal of building their own dental service organization (DSO). Others will seek a strategic partnership with an established DSO instead.
Your best path forward depends on your goals, but it’s important to understand that the industry’s current status on the consolidation curve gives you a unique opportunity — one that won’t last forever. Here’s a closer look at how the dental industry’s equity arbitrage market is evolving and what it means for you.
Understand Dental Industry Consolidation
Looking at how equity arbitrage transformed medical marketplaces in the past is instructive: Harvard Business Review analyses show that about 60% of providers participate while 40% do not. The participation rate is consistent across fields.
Industry consolidations are a one-time opportunity, so it’s critical to understand the consolidation curve so you can leverage it to drive growth. Any doctor who will be practicing over the next three to five years, regardless of age, has an opportunity right now to participate in an equity arbitrage consolidation market.
About 40% of dentists won’t participate — they’ll open a dental office, serve their communities and eventually sell their practice for 60% to 80% of collections, which is what most dentists did 10 years ago. Others plan to grow solo practices on their own and eventually sell the organization they’ve built to a DSO.
But if you own multiple practices or are planning on growing with new locations, you can participate in equity arbitrage events via a sub-DSO strategy now, leveraging the growth of your practice footprint as an investment vehicle. It’s a smart move because the growth trajectory of a solo practice will never outpace the growth of equity value in a group of practices.
Use a Sub-DSO as a Wealth-Building Tool
A sub-DSO arrangement gives practice owners access to wealth-building opportunities in the equity arbitrage consolidation marketplace without taking on the risks of growing a practice by traditional means. In a sub-DSO, the practice owner transacts their business for a large upfront payment and typically retains a percentage of ownership. The equity isn’t held at the DSO or practice level – it exists in a holding space that allows room for expansion.
This can be a huge advantage for practice owners. There’s a saying in the dental practice startup sector: Operating one practice is easy, two is taxing, and three is make-or-break. That’s because it’s difficult to acquire and centralize the infrastructure and expertise you need to support additional practices, such as acumen in marketing, credentialing, hiring and firing, accounting, etc.
If you choose to partner with a DSO, you won’t have to face those headwinds alone. A strategic partner can remove risk and help shoulder the cost of growth because they already have the administrative infrastructure in place. You can plug into it and grow exponentially as a majority or minority partner and owner/operator of a sub-DSO.
Halo Dental Technologies, the developer behind the much-anticipated Digital Mirror, is bringing the Halo Digital Mirror to the California Dental Association (CDA) annual conference and tradeshow May 16-18. Halo Dental will showcase its Digital Mirror and will open the waitlist to receive the mirror when it’s ready for delivery in early 2025.
While at CDA, Halo Dental will host live demos of the Digital Mirror to conference attendees, giving dental professionals the opportunity to see its features, capabilities, and design traits in action. Halo also will announce the opening of the waitlist for those interested in receiving the mirror when it’s available for delivery in early 2025. The cost to join the waitlist is only $200.
The Halo Digital Mirror ushers in a new era in dental instrumentation, redefining patient communication and enhancing oral healthcare delivery. Crafted for innovative patient engagement, the Digital Mirror seamlessly integrates into the practice at the point of care, helping elevate patient’s comprehension about their care during dental procedures.
The new Halo Digital Mirror not only will enhance patient communications while allowing for dental professional efficiency at the point of care, but will improve customer care while reducing flow interruptions and potentially lower costs. While at the conference, attendees are able to experience the Digital Mirror that when used, will help shift their practice toward a more efficient and patient-centric business.
Halo Dental designed the Digital Mirror to eliminate disruptions between the provider and patient in the care setting, reducing “noise” during the patient visit. It also allows providers to spend more focused time with the patient – improving the patient experience and enhancing clinical workflows and data capture.
Halo Dental Technologies, the developer behind the much-anticipated Digital Mirror, recently showcased the mirror and its technology to one of dentistry’s most innovative-focused audiences, the Dental Influencers Alliance (DIA 4.0) conference in Dallas, Tex., in April. Reaction to the Digital Mirror was overwhelmingly positive, as countless dental influencers who interacted with the technology said it was beyond compare, “so smart,” and what the industry “has been waiting for.”
Show participants also said of the Digital Mirror:
“I am a general dentist with a passion for innovation and this is something I’m very excited about… to use as a communication tool for the patient.”
“Very clean, minimal, the design language is impressive; I’m excited to see how it performs in the field.”
“This is a great idea, so practical.”
At DIA, dental influencer Dr. Chris Ramsey said the Halo digital Mirror is “outrageous” new dental technology, “The technology that’s put into just this simple mirror will blow your mind. My name is going to be number one on the waitlist because this needs to be in my practice, and it needs to be in yours.”
The Halo Digital Mirror heralds a new era in dental instrumentation, redefining patient communication and enhancing oral healthcare delivery. Crafted for innovative patient engagement, this new dental device seamlessly integrates advanced features to elevate patient comprehension about their care during dental procedures.
The Digital Mirror is designed to eliminate disruptions between the provider and patient in the care setting, and to accomplish two primary goals: reduce “noise” during the patient visit and allow providers to spend more focused time with the patient – improving the patient experience and enhancing clinical workflows and data capture.
“We’re thrilled to introduce the Halo Digital Mirror to the world,” said Peter Khoury, co-founder and CEO of Halo Dental Technologies. “It’s not just a mirror, but, we think, a game-changer, designed to optimize patient care and revolutionize the dental experience. Based on what we heard and the reactions witnessed at DIA, we’re confident that we’ve hit a nerve with this technology.”
While at the conference, members of the Halo Dental leadership team unveiled the Digital Mirror to the audience of dental influencers and spoke of the company’s origin story, and how they came to work in the sector and innovate a vital piece of technology that has gone almost untouched for generations.
During the presentation, they featured a video paying homage to previous innovations and dental technology, while calling for a new, bright future led by the Halo Digital Mirror that helps reduce flow interruption during an appointment and empower patients with visual aids.
Halo Digital Mirror features Specifically, the Halo Digital Mirror offers:
Patient Empowerment: Empowering patients with visual aids for enhanced understanding and engagement of their care through images.
Image Capture: Streamlining patient education and treatment planning with effortless intraoral image capture.
High-Strength Titanium Construction: Enduring durability without compromising on weight and feel that is similar to conventional dental mirrors.
Integrated LED Diffused Light and Wide-Angle Camera: Improved fog-free visibility and facilitating detailed examinations.
With these features included, the Halo Digital Mirror is designed to participate in every part of the patient’s clinical journey – from education to examination.
Development backed by dental professionals
Backed by a seasoned board of dental practice professionals, Halo Dental Technologies is committed to pioneering innovation within the dental industry.
“Our vision was born from a desire to enhance patient experiences and streamline workflows in dental clinics,” David Khoury said.
Watch testimonials from dental influencers
Testimonials and sneak peeks from DIA influencer attendees are available through Halo Dental’s Instagram page:
Reserve your Halo Digital Mirror: Join the waitlist
The waitlist for the Halo Digital Mirror opens May 16. For information about the Digital Mirror and to join the waitlist, visit Halo Dental Technologies’ website, halodental.com.
The Digital Mirror is scheduled for delivery in early 2025.
Professional Transition Strategies (PTS), a company that facilitates dental practice purchases and mergers & acquisitions, today announced it was included in Inc. Magazine’s annual Inc. 5000 list for the fourth consecutive year. PTS ranks #1487 with a three-year revenue growth of 317%.
“Receiving recognition from a distinguished program like the Inc. 5000 for the fourth year in a row validates the effort and expertise our team brings to the table for dental entrepreneurs as they navigate the industry’s consolidation wave. I’m so proud to have this team represent and grow our company,” said Kyle Francis, president and founder of PTS.
The 2023 honorees represent companies that have driven rapid revenue growth despite facing hurdles like inflationary pressure and the rising costs of capital.
“Running a business has only gotten harder since the end of the pandemic,” says Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future.”
Here’s a dilemma that’s not uncommon in dental practices with two or more owners: What happens when one of the owners is ready to retire and the other wants to keep working? In the past, choices were limited, and the owners either had to sell the practice or bring in an associate (or multiple associates) to buy in so the doctor who wanted to retire could take the value of their share and leave.
The flaw in the associateship model is that associate arrangements fail far more often than they succeed – up to 80% dissolve because the owner’s expectations and priorities are out of sync with the associate’s, their business styles are incompatible, they can’t agree on a practice transition timeline or they’re a mismatch philosophically on other vital business issues.
Luckily, dentists who are practicing now have more options than selling outright or bringing in associates. Here’s a closer look at some of the options practice owners have today, including partnerships through dental service organizations (DSOs), followed by advice for practice owners who are trying to reconcile mismatched retirement time horizons.
Today’s Practice Transition Options
Practice owners have many more choices when it comes to practice transitions today than they did in years past, particularly since the number of groups and DSOs is growing rapidly. That translates into opportunities for doctors to gain more value when selling their part of a practice and/or a chance to roll equity into the practice or DSO to generate investment income after they retire.
For doctors who plan to keep working after a co-owner retires, options for practice transition include arrangements where they can benefit from an equity roll into the practice or DSO too while also gaining support from the purchasing group. Support can include assistance with managing the business, help with clinician or manager recruiting, etc., to keep the practice going strong. Transition options include:
Merger to form a group practice: In this scenario, multiple practice owners merge together to create a single group, which makes individual exits less disruptive because there are more doctors to share the workload. It helps maintain stability among the different practice locations and can even make the new group of practices more attractive if they choose to sell to a group or DSO at a later date. This can be a great option that yields excellent results, but its success hinges on all owners agreeing on a post-merger business strategy.
Joint venture or group buyout: This transition strategy involves a group purchase of the whole practice or a portion from the current owners, enabling the doctor who wants to retire to leave while the doctor who wants to continue working to keep practicing until they’re ready to step away.
Equity roll: An equity roll transition can take a number of forms that enable practice owners to sell all or part of the practice to a DSO. After the sale, the doctors can invest all or part of the cash from the transaction into the DSO’s holding company as an investment – regardless if they’re the doc staying on or the one retiring.
The right fit for practice owners will depend on their personal preferences and plans, business goals and risk tolerance. But given the high failure rate of associateships, it’s great to have more options.
Professional Transition Strategies
Professional Transition Strategies