Our collaboration offer
Our principal dentists have direct responsibility for managing the operations and performance of the dental clinic. The financial arrangements with principal dentists mean that they continue to share in the financial performance of the dental clinic in which they practice dentistry. We provide a range of support services to streamline the management of the clinic, allowing our dentists to focus on dentistry rather than administrative tasks.
When joining our network, principal dentists receive:
- Realisation of value in their business: Bupa Dental Corporation (BDC) undertakes a valuation of the existing dental business and ensures we offer market competitive consideration for the purchase of their dental business and its assets.
- Deferred consideration: a proportion of the value is paid over the first three years and is based on the profit performance of the dental clinic in which they operate their practice.
- Incentive based financial arrangements: Principal dentists pay a fee to BDC for the provision of services and facilities to enable them to focus on the practice of dentistry and management at the dental clinic. Dentists are financially rewarded for growth in the revenue of the dental clinic overall (both from their own practice from directly seeing patients as well as from an attractive bonus structure for continuing to oversee the profitable growth of the clinic).
- Continued clinical management and autonomy: Principal dentists will continue to operate their business with absolute clinical independence, provided they comply with all state and national legislation. They will manage the dental clinic on a day-to-day basis with support from BDC’s corporate teams.
- Access to clinical and business management training: Teams are invited to take advantage of training and development opportunities, enabling the continued growth and efficient management of the dental clinic (CPD points may be available to retain registration).
- Support services: BDC provides a comprehensive suite of payroll, accounts payable and financial reporting services to the dental clinic and to your individual practice, delivering comprehensive management information on a monthly basis. In addition, consultative support is provided in areas like marketing, information services, human resources, operations and management, as appropriate and/or as requested by the principal dentist.
Support for your practice
Bupa Dental Corporation (BDC) offers a comprehensive range of support services for our dental professionals. Our experienced teams are here to provide consultative support as you request it and assist with the growth of the dental clinic, including your practice and streamlining of business operations for the dental clinic. We assign each dental clinic a dedicated consultant who will facilitate support for the dental clinic and your practice.
Our helpful team is always just a phone call away!
Our support services include but are not limited to:
Accounts Payable: Payment of Supplier Invoices
We make payment of all supplier invoices with a dedicated central Accounts Payable Team. Your practice team no longer needs to reconcile lengthy lists of accounts payable invoices. The practice continues to order supplies and check delivery as normal with Dental Corporation coordinating payment to all suppliers. The authorisation process by the practice is important to ensure that only valid expenses are paid and costed to the dental clinic.
We offer a central supplier enquiry line for any supplier to call directly should they wish to follow up on any details relating to payment of an invoice.
Payroll: Payment of Clinic Staff including Associate Dentists
We manage the payroll process for our dental clinics ensuring staff are paid accurately and appropriate records are kept including pay slips, and any superannuation and tax office payments made. You no longer need to worry about the time consuming process of paying staff.
Clinic support staff are generally paid by Dental Corporation on a weekly basis with the exception of salaried staff that are paid monthly. All pay is made directly into their nominated bank accounts.
For staff paid on variable hours (wages), each clinic enters the hours for each staff member into an online payroll system each week. The Practice Manager or nominated person is trained on the system and approves payment amounts, can run reports relating to pay and leave balances.
Our Finance team takes care of calculating and processing the monthly payment to our Associate Dentists each month. Payments are made on the 15th of the month or the nearest business day prior. Our Finance team calculates the fees owing based on collection reports provided by the dental clinic and reconciles this with processed lab expenses to calculate the Associate Dentists’ pay. This information is then sent to each Practice Principal for management approval prior to processing the monthly payment.
Payments: Principal Dentist
Our Finance team takes care of calculating and processing the monthly payment to be made by our Practice Principals to Dental Corporation for the provision of support services based on the revenue of the dental clinic. Payments are made on the 15th of the month or the nearest business day prior. Our Finance team calculates the fees owing based on collection reports provided by the dental clinic and reconciles this with processed lab expenses to calculate the facilities and services fee due to Dental Corporation. This information is then sent to each Practice Principal for approval prior to processing the monthly payment. This allows the Practice Principal to review the calculations before payment is made.
Finance: Dental Clinic Reporting
Our finance team prepares a monthly financial report showing the results for the dental clinic in which you conduct your practice and comparative analysis for you. The financial information is presented in an easy to understand format of figures and graphs allowing you to track performance over time. The report details the financial results for the month and current year to date against an agreed budget that is set during the acquisition process. Once you have been trading with Dental Corporation for one year or more, the financial report also includes a comparison of current year results against prior year results.
Operations: Practice Support
We have a dedicated team that is focused on the growth and development of our dental clinics. The team has extensive experience in all areas of practice management and practice development. Every practice that joins Dental Corporation is given the opportunity to partner with a practice consultant who will offer creative and innovative ways to help grow the dental clinic and the practices that operate within it.
The operations team commences their relationship with the practice prior to settlement to ensure a smooth transition into a Dental Corporation dental clinic. Post Integration, all clinics have the opportunity to attend and participate in a variety of strategic and development workshops that will support and assist dental clinics to implement strategies to take them to the next level.
Human Resource Support
Dental Corporation has a central Human Resources team to advise you in managing staff in the dental clinic in relation to employee entitlements, , training, recruitment and performance management processes. Dental Corporation also assists with managing occupational health and safety and workers compensation for staff working in the dental clinic.
The Human Resources team is able to assist with coordinating the recruitment of clinic staff and will provide information about potential candidates that become known to the group for you to consider.
Our Marketing team provides expert consultative support to our Practice Principals in the marketing of their practice and the dental clinic, including communication to clinic patients. We have developed various marketing programs, tools and templates for our Practice Principals to utilise including patient reactivation programs, new patient communication packs and website development.
You may choose to use many of these programs to help grow your practice and the other practices you manage at the dental clinic. We are available to provide advice, customise and develop marketing materials and initiatives that are unique to the needs of the practices conducted at the dental clinic.
We have a dedicated team of IT experts who work with the dental clinic and your individual practice in a consultative role, providing advice and assistance with your IT requirements. This includes, but is not limited to:
An annual IT review providing advice on minimum standards for effective IT in the dental clinic.
Assistance in dealing with IT providers to ensure the dental clinic is getting the products/services it requires and helping you understand the sometimes complicated IT products/services being provided.
Procurement of IT equipment and services for the dental clinic from preferred suppliers.
Our IT team is ready to provide you with sound and practical advice to deliver advantages to your practice through the use of IT.
Networking, Training and Development
We believe and invest in conferences, seminars and events to facilitate learning, networking and camaraderie across the group.
We run a conference every 18 months for our Practice Principals and their partners. This allows valuable time for networking and participating in business seminars.
A schedule of internal training programs for various staff is available as well as access to external programs all of which contribute to your continued professional development.
Recognising the expertise we have within our group we have established a program whereby any of our Practice Principals or Associates may express an interest in visiting another practitioner in the group to see how they operate their practice and/or perform specific procedures. We then facilitate this knowledge sharing.
Supplier Purchasing System
The Purchase Portal is Dental Corporation’s online web-shop which gives you access to major reputable suppliers of dental products under the one purchasing system. The Purchase Portal is a great tool to compare equivalent products from multiple suppliers to give you the opportunity to purchase at the best value.
Using the Purchase Portal provides:
ease of finding dental products to meet all of a dental clinic’s needs through our participating suppliers.
Time efficiency in ordering with a ‘one stop shop’ purchasing solution. This removes the need to shop around multiple suppliers and specials magazines to find the best prices.
Freedom from large quantity orders to get the best price, you are not locked in to large orders to access the best prices.
A snapshot of what types of products you are ordering, giving you a history of your purchasing.
The ability to have a standard order that you can amend whenever you normally order, whilst also keeping track of all your historical orders.
Benefits of joining the group: seven cornerstones to success
We believe that the key to long-term success is to ensure that principal dentists are satisfied professionally, intellectually and financially. Learn more about the innovative opportunities Bupa Dental Corporation (BDC) can provide.
1. Realise the equity you’ve created in your business.
Dental clinics create significant equity. However, this equity is sometimes hard to realise with fellow dentists who often opt to develop their own practices rather than purchase an existing one. BDC provides an opportunity for you to realise the equity you have created in your business.
2. Reap financial rewards as your practice and the dental clinic grows.
The financial arrangements for each dental clinic ensure that you enjoy financial reward for the revenue growth. BDC consultants are experts in the area of practice operations, using tools such as strategic workshops, seminars and various marketing programs offered by BDC to individual practices in conjunction with training and implementation support.
3. Focus on dentistry. Access to a comprehensive range of support services.
We let our dentists be dentists. We’re committed to working with our practitioners to support both the operations of the dental clinic and to make sure that they have the staff they need. We serve our dental clinics by providing payroll, accounts payable and financial reporting services along with consultative support in areas like information services, human resources, recruiting and marketing as appropriate and/or as requested by principal dentists. You’re free to operate your own individual practice and have control of the day-to-day management of the dental clinic.
4. Benefit from collaborative relationships with industry-leading clinicians.
We take a collaborative approach with our group. One of our priorities is facilitating development opportunities and networking events for our clinicians, allowing them to share their knowledge and experiences.
When joining BDC, you become a valued part of a large group of practitioners who share knowledge, experiences and stories regularly, giving you access to an enormous pool of shared knowledge and new friendships.
5. Take advantage of career development for you and your entire team.
We value continued professional development, knowledge sharing and up-to-date professional standing with an ethos based on lifelong learning for our team.
We provide access training and development events each year aimed at principal dentists, practice managers and other clinic staff in order to continually develop best practice skills and knowledge. These events include strategy workshops, practice management seminars and a diploma in business management qualification – just to name a few!
We also make sure that our dentists have access to various clinical courses.
6. Retain clinical and managerial independence.
We recognise and respect the skill and expertise necessary for building your practice into a successful dental business.
Our business model provides support and value for your own practice while allowing you to maintain your independence over the daily management of your practice and the dental clinic. Additionally, you benefit from our support services to grow and streamline the operations of the clinic, leaving you with more time to focus on dentistry and patients. Our support teams also provide access to competitive rates with non-dental suppliers for services such as telephone and website development.
7. Access convenient, efficient purchasing options.
We offer access to our online purchasing portal, which makes it easy to purchase all that a dental clinic needs, when you need it, from reputable suppliers. We believe in making sure all of our clinics have all of their purchasing needs met through simple systems from reputable suppliers.