Henry Schein Invests in a Majority Interest in eAssist

 

Recently eAssist announced they had created a buying group for client offices that was called eAssist Buying Power.  The idea behind the formation of the group was to allow client doctors to pool their purchasing power together to receive reduced pricing.  One of the advantages corporate dental practices have is their purchasing power.

When you call a supplier and need something for 100 offices, the price will be different than if you want to order the same product for ONE office.  This allows corporate chain dental offices to help keep their overhead less than small private offices.  eAssist is making an attempt to pool the resources of their client private practices and by combining their purchasing power, allow those offices to receive volume discounts like large corporate groups.

I am an eAssist client and had recently received information on the eAssist Buying Power program.  The company is looking to get member dentists involved.  I noticed that the purchases for the program were going through Henry Schein, but thought little of it.  Schein is the world's largest dental supply company (Dentrix, a sponsor of this blog, is owned by Henry Schein) and the company has a very solid reputation in the industry.

Then today, I received the following information in my email and it looks like there is even more of a reason for Henry Schein to be the supply company working with eAssist on the program.  Henry Schein is now a majority owner of eAssist.

Here is what I received:

The World’s Leading Dental Billing Company + The World’s Largest Provider of Health Care Solutions 

 Today we make history as a new chapter unfolds for eAssist.

This morning, it is our great honor to announce that Henry Schein has chosen to invest in a majority interest in eAssist. Henry Schein is a long-time partner and trusted friend to eAssist. The furthering of the eAssist and Henry Schein partnership is a continuation of the synergy between our two companies. You can read the full press release here.

What does this mean for you, our customer, and why did we decide to partner with Henry Schein?

Your teams won’t change. Your service does not change. Your costs won’t change. I will continue to manage eAssist as Chief Executive Officer, along with the entire eAssist management team.

Our core purpose is to deliver peace of mind to you and your team. We believe strongly that we can do that best by providing even more value to you in exchange for the money you pay us. These same values are echoed by the team at Henry Schein through their long-standing commitment to enabling dental practice growth, efficiency, and profitability.

On behalf of your eAssist Success Consultants, Team Leader, and all of eAssist, we look forward to serving your dental practice with dedication and excellence—delivering peace of mind to you, your practice, and your patients for years to come.

Warmest regards,

James V. Anderson, DMD

CEO, eAssist Dental Solutions

Benco Dental to acquire ADI Mobile Health, adding advanced vehicular clinic manufacturing capabilities to its portfolio of innovative products and services

Benco Dental, the nation’s largest independent distributor of oral healthcare technology and supplies, has finalized a definitive agreement to purchase the assets of ADI Mobile Health.

The acquisition brings together ADI’s proven skill at manufacturing uncompromising mobile clinics with Benco’s industry-leading, in-house interior design and equipment planning capabilities to open the door for a complete reimagination of what’s possible in mobile clinics. In addition, ADI products will now also be available through Benco’s sales team of over 400 associates across the United States.

Both parties expect to complete the transaction during the coming weeks. Benco will operate ADI as one of its wholly-owned subsidiaries, and the transition will be seamless for ADI customers as its employees and systems will carry over. ADI will continue to be headquartered at its current location in Tualatin, Oregon.

Since 1984, ADI Mobile Health has manufactured the finest custom-crafted mobile dental/medical health clinic vehicles for customers around the world. Their patented generator systems deliver unmatched levels of consistent power production at low vibration and decibel levels that enable a relaxing experience for patients and practitioners alike. Founded by Tim Kitch, ADI’s singular focus has helped the company carve out a prominent position in a rapidly growing segment as patients demand greater convenience and access to care.

Benco Dental, headquartered in Northeastern Pennsylvania, is America’s largest family-owned dental distributor, offering a complete portfolio of technology, supplies, equipment, consulting and other services from coast to coast. As the first dental distributor to offer dental practice design and space planning in 1978, Benco has established a position of industry leadership. This grew substantially with the introduction of CenterPoint design and equipment facilities beginning in 2010, which changed the way customers try and buy equipment while simultaneously planning their practice designs. Today, Benco Dental operates CenterPoint locations in California, Texas and Pennsylvania, and introduced the CenterPoint Virtual Experience during 2020 in response to Covid-19.

“Benco Dental is committed to driving dentistry forward through innovation and world-class customer experiences. Combining the proven strengths of ADI and Benco is an exciting first step toward becoming the undisputed leader in the mobile clinic space,” said Chuck Cohen, Benco Dental Managing Director. “We’re thrilled to carry on Tim Kitch’s legacy as a passionate entrepreneur and proud to have ADI’s entire team join Benco’s family of companies. As dentists and patients seek more convenient care delivery, we believe there has never been a better time to enter this business.”

Join the 2021 Same Day Dentistry Summit this Friday June 11th!!!

 

Looking for an outstanding CE opportunity that comes to *you* in the comfort of your home (or your office)?  Have I got a deal for you!!!

This Friday, June 11th, I'll be moderating a terrific problem sponsored by Dental Products Report™.  The program is divided into several smaller pieces and everything is geared toward giving the attendees a great picture of what "Same Day Dentistry" looks like and how it can be accomplished.

The faculty for the program consists of the following doctors:

1. Dr. Kristine Aadland
2. Dr. Kevin Brown
3. Dr. Ben Kellum
4. Dr. Jeffrey Rhode
5. Dr. Yao-Lin Tang

It's going to be a fun and fast paced day with tons of good information.  Here is what my team at DPR has to say about it:

Same-Day Dentistry Summit: Technologies and solutions for quality, complete dental care in a single day.

We invite you to join Dental Products Report® for an exclusive virtual event on same-day dentistry that will take clinicians through the technologies and solutions for quality, complete dental care in a single day.

Modern dental technologies make it possible to complete transform patient expectations by offering you the capability to shorten treatment times and provide definitive care in a single day. This full day of online education will  feature expert presenters sharing the latest in same day dentistry. Beyond chairside CAD/CAM, this event will explore all that can now be  done in just one day. Plus, the experts will come together at the end of the day for a panel discussion about where dental technology and same-day dental solutions are heading.

You won’t want to miss this full-day opportunity on Friday, June 11, 2021!

Explore and learn from industry experts for this full-day virtual event! Earn up to 6 continuing education (CE) credits during this 7-hour event.

Reasons to attend

• Stay up to date on the latest dental technologies and materials.
• Learn new strategies to increase efficiency and provide faster treatment to patients.
• Discover the wide range of clinical services that can be provided in a single patient appointment or a single day.

Who should attend

• All dental professionals interested in advances in dental technology.
• Dentists who are interested in digital dentistry.
• Team members looking for ways to enhance their value to a practice.
• Dental lab technicians who want a picture of where chairside digital dentistry stands today.

Find out more and register on this page.  See you there!!!

CDHA and Dental Industry Partner for Success

As the focus shifts from oral health month (April) to a new membership year and a first-ever virtual conference, the Canadian Dental Hygienists Association (CDHA) continues to foster meaningful partnerships with dental industry. CDHA recognizes how important these partnerships are to the success of its mission: advancing the dental hygiene profession and promoting the importance of oral health to the public. 

The ongoing support of CDHA’s dental industry partners allows the association to offer a wide-ranging and timely selection of professional development opportunities to its members, and to build upon the success of its critical advocacy work. “We are extremely proud to partner with key industry leaders to better serve our members and to enhance the public’s awareness of the vital role dental hygienists play in their oral health care,” says Tiffany Ludwicki, CDHA president. “We are heartened by the steadfast dedication of our longstanding industry partners who remain committed to our national association, to our members, and to the dental hygiene profession.”

A select group of dental industry companies is welcomed into CDHA’s Partners’ Circle each year. The CDHA Partners' Circle comprises dental industry leaders who understand and appreciate the important role dental hygienists play on the oral health care team.  

This year, CDHA’s Partners' Circle is made up of nine dental industry leaders whose sponsorship levels range from bronze to elite. The elite-level member is Crest + Oral-B; Colgate, GlaxoSmithKline (GSK), Johnson & Johnson, Philips, and Waterpik are our gold-level members; the silver-level member is Sunstar, and Dentsply Sirona and Hu-Friedy are the bronze-level members. CDHA proudly recognizes these amazing dental industry partners…respected members of CDHA’s Partners’ Circle. 

CDHA is the collective national voice of 30,219 dental hygienists in Canada, directly representing 20,000 individual members, including students. Since 1963, CDHA has worked to advance the profession and promote the importance of oral health. Dental hygiene is the sixth largest regulated health profession in Canada with professionals working in a variety of settings, including independent dental hygiene practice, with people of all ages, addressing issues related to oral health. For more information on oral health, visit www.dentalhygienecanada.ca.

Henry Schein One Acquires Majority Interest in Jarvis Analytics

 

 Henry Schein One, a subsidiary of Henry Schein, Inc. (Nasdaq: HSIC), announced today that it has acquired an 80% ownership position in Jarvis Analytics, a software company that develops comprehensive business analytics tools to help dental practitioners and their teams use data to diagnose problems, strengthen decision-making, and improve business performance.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210525005482/en/

Dallas-based Jarvis Analytics was founded by Steven Maroulis in 2017. Maroulis will continue to manage Jarvis Analytics and lead the Henry Schein One Dental Analytics business as Executive Director. The expected 2021 financial results from Jarvis Analytics are immaterial to Henry Schein One. The acquisition will be neutral to Henry Schein’s 2021 earnings per share and accretive thereafter. Additional financial terms were not disclosed.

“This partnership further demonstrates our commitment to offer the latest advances in technology through Henry Schein One, making it possible for dental practices to improve nearly every aspect of their business management,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “We look forward to a strong partnership with Jarvis that will enable dental teams to use data more effectively to build a better business.”

Dental practices have tremendous amounts of data stored in practice management systems, such as Henry Schein’s market-leading Dentrix®, Dentrix Ascend®, and Dentrix® Enterprise, as well as systems for patient relationship management, finance, marketing, and more. Unfortunately, many dental practices do not yet consolidate and analyze this disparate data. Jarvis simplifies the collection of data from multiple sources and organizes it so the information can be presented in real-time reports, dashboards, and other methods. Jarvis’ analytics tools can also help identify the impact positive changes may have on projected revenue, including hygiene recall, patient retention, case acceptance, and collection.

“Data mining is the new vehicle for accelerating dental business growth. Dental practices that know how to use dental analytics to analyze their data can see what has happened, what is happening, and make informed decisions about the changes they should make to improve performance,” said Mike Baird, Chief Executive Officer of Henry Schein One. “The addition of Jarvis Analytics means dental teams will benefit by having a trusted partner with the size and expertise of Henry Schein One to enhance and support their dental analytics solutions. With these insights, practices owners and dental management teams can make better decisions to improve efficiency, increase revenue, and maintain clinical excellence.”

Jarvis Analytics will continue to be practice management system agnostic, working with more than 10 practice management systems, including Dentrix, Dentrix Ascend, and Dentrix Enterprise. The analytics tools offered by Jarvis Analytics will eventually become integrated into select Henry Schein One practice management systems, making it possible to deliver one digital workflow that simplifies management while improving business performance.

“From day one, our vision has been to help dental practitioners turn practice management data into powerful insights,” said Mr. Maroulis. “Our customers recognize the value of data analytics and have chosen to embed it into every layer of their business to drive operational efficiencies and growth. We’re excited for the future and look forward to the critical role Jarvis will undertake to help Henry Schein One become the leader in dental analytics solutions for dental businesses of any size.”

About Henry Schein One
Henry Schein One, a subsidiary of Henry Schein, Inc. established in partnership with Internet Brands in 2018, is a software company providing integrated software and services to the dental industry. Headquartered in American Fork, Utah, the company offers market-leading solutions for dental practices, including Dentrix®, Dentrix Ascend®, Dentrix® Enterprise, Easy Dental®, TechCentral™, Demandforce®, Sesame Communications, Lighthouse360®, Officite, and DentalPlans.com® as well as solutions offered through international companies, including Software of Excellence, Logiciel Julie, InfoMed, axiUm, and LabNet, among others. For more information, visit www.henryscheinone.com.

About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health care professionals powered by a network of people and technology. With more than 20,000 Team Schein Members worldwide, the Company's network of trusted advisors provides more than 1 million customers globally with more than 300 valued solutions that help improve operational success and clinical outcomes. Our Business, Clinical, Technology, and Supply Chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental laboratories, government and institutional health care clinics, as well as other alternate care sites.

Henry Schein operates through a centralized and automated distribution network, with a selection of more than 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 additional products available as special-order items.

A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 31 countries and territories. The Company's sales reached $10.1 billion in 2020, and have grown at a compound annual rate of approximately 12 percent since Henry Schein became a public company in 1995.

For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein, and @HenrySchein on Twitter.

Oklahoma Dental Practice Notifies Over 6000 Patients of Data Theft

 As regular readers know, I have a big focus on data security.  It's a huge responsibility for a small business like most private practices and most offices are woefully under prepared to deal with any type of data breach.

That's one of the reasons I frequently report about breaches and try to discuss what can be learned from them.  My hope is that by learning from the mistakes, other offices could hold off potential disaster.

The latest story I've come across is from a private practice in Oklahoma City, OK.  In this incident, the report is that a hard drive was stolen with practice data on it.  The drive that was stolen is password protected on more than one level and does not have the necessary dental practice management software on the drive that would allow the thief to easily access the data on it.

My take on this is that the theft was most likely a backup drive.  Probably a portable USB hard drive that was used by the office for offsite backups.  From an academic standpoint, I think the practice had probably done everything they could to protect the data on the drive.  I'm figuring the multiple password levels are most likely a master password for the drive and then a second username and password to actually gain access to the dental program that the office was using.  The big bonus is the software to run the database is not on the drive.  However, a determined cyber thief could most likely access the database file, but it would take some work.

The real problem here, is not the security.  I think they probably did pretty good job with that.  No, the real problem is the fact that even with at least 2 levels of passwords and maybe even encryption, the problem is the data was lost in the first place.  Even though the info on the drive has yet to have been found to cause any problems for patients, the office must still treat this situation as a HIPAA violation with all that requires. 

My understanding of the law is that losing data is losing data... whether it is encrypted or not, password protected or not.  So, even though the lost data may *never* cause a single problem, it must be treated the same was as if a totally open backup drive was stolen.  A friend of mine who deals with these types of situations told me that this type of event can cost several thousand dollars to deal with, even if no adverse event ever occurs with the data.  Basically this practice did everything right except to lose the drive and at that point they became as responsible as someone who left an open backup drive on the counter of the local fast food franchise.

The moral to this story is "Never ever let your offsite backups out of your sight".  Most of these types of events occur when someone stops to just "run a quick errand" on their way home.  Thinking they'll just dash into the grocery store, grab a gallon of milk, and be back in 5 minutes.  If during those 5 minutes the drive disappears, you are in the soup.  If you have to leave for "just a minute", simply take the drive with you.  Stick in your pocket, your backpack, or your purse.  If you leave it unattended and it is stolen, you are just as guilty as any other data breach victim.  Never let go of you data!

Pardon Our Dust - We're Updating!

For the next week or so things will look a bit different and may look absolutely crazy around here.

We are making some changes to the way the blog works, backend kind of things.  Because of that, you may see posts from years past appearing on the first page below this post.

Don't worry!  Things will be back to normal soon.  Thanks for your patience!  -John