In this video, Timothy A. Brown, President and CEO of ROI Corporation, discusses the reasons to invest in and select high quality dental software systems. At some point, the dentist may be ready to sell the practice. Dental practices that have kept abreast with the most current high digital technologies and software while running an efficient office will be in a better position to sell to the highest bidder successfully. Those practices that have invested wisely will also benefit by receiving a high value at the time of appraisal. A paperless office and practice, from EHR to practice management, has higher value.
“At the time of appraisal, when ROI Corp enters a dental practice, we will ask the doctor, “What are your software? What are your systems? What are your protocols for maintaining your records for digitizing and storing records of all your patients?””
The return on investment can be appreciated if and when the time comes that the dentist wants to sell the practice because of conscientious and wise decisions. Having implemented and maintained upgrades to current standards of high quality practice management (PM) and electronic health record (EHR) systems is a value-add to the practice that will maintain its value on resale.
• Dental practices should invest in only the highest quality practice management and electronic health records systems.
• Seek out reputable, reliable, and credible software and technology vendors.
• Maintaining all software systems with current upgrades and standards is required and necessary for appraisal purposes.
• Dentists seeking to purchase dental practices want the best value for their investment.
• The high return on investment is worth the initial cost for excellent software programs.
ROICorporation. (2011, Sept. 30). Dental Software. Retrieved from http://youtu.be/5Z60WfO_5tY August 5, 2012.