Centaur Insites Issue # 9 - November/December 2022

NOVEMBER 2022 | ISSUE 9

INSITES Your Centaur Bi-Monthly eMag

WELCOME TO THE NOVEMBER ISSUE OF INSITES Welcome to the last issue of Insites for the year! Before we all wing down and get into the festive season, it is important to reflect on the past 12 months to see where the future is heading. The last 12 months in

IN THIS ISSUE 5 INTERNATIONAL TRENDS IN DENTISTRY TODAY

ARTICLE 1: CENTAUR SOLUTIONS ENTERS THE WORLD OF ANALYTICS WITH A BANG!

Dental saw a dive during the pandemic.

ARTICLE 2: BECOME VISIBLE TO

To adapt to decreased spending and shifting patient needs, the dental industry continues to see rapid adoption of new

NEARLY 2 MILLION PEOPLE: THE VALUE OF PATIENT DISCOVERY

technologies and trends.

NATIONAL CENTAUR

This issue will dive into some of these

SYMPOSIUM OVERVIEW 2022

trends and their impact on the industry.

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INDUSTRY TRENDS & INSIGHTS FIve International trends in Dentistry today

Dentistry: The Next Frontier For Artificial Intelligence ...Healthcare is in the midst of a digital revolution. Patients have become familiar with electronic recordkeeping and with digital CT and MRI scans; some have come face-to-face with the use of computer vision and artificial intelligence (AI) to diagnose pulmonary and other cancers.

The Worldwide Cosmetic Dentistry Industry is Expected to Reach $89 Billion by 2030 ResearchAndMarkets.com ... The global cosmetic dentistry market size is expected to reach USD 89.0 billion by 2030, according to this report. It is expected to expand at a CAGR of 13.0% from 2022 to 2030.

How Teledentistry is Increasing Convenience for Dentists and Patients ... Telehealth includes various telemedicine systems and modes of delivery that allow health services from a distance. This also includes teledentistry. Simply put, teledentistry provides dental care delivery, diagnosis, consultation, transfer of dental information...

Augmented Reality and Virtual Reality in Dentistry ... Many modern advancements have taken place in dentistry that have exponentially impacted the progress and practice of dentistry. Augmented reality (AR) and virtual reality (VR) are becoming the trend in the practice of modern dentistry ...

Digital Marketing - 6 keys to creating a powerful online impression and attracting more new patients ... "Wait, what?" That's the reaction you want from prospective new patients when they look at your website. But with only seconds to make a first impression, how do you make that happen? ...

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The 2022 IBISWorld Dental Services in Australia report forecasts the 10-billiondollar Australian dental industry to grow by 5% in the next five years, while the number of dental businesses is expected to increase by 25%. The good news is that the dental industry is back! The not-sogood news is that the competition is fiercer than ever.

CENTAUR SOLUTIONS ENTERS THE WORLD OF ANALYTICS WITH A BANG!

by Sean Perrera

The Australian dental sector has always been an uber-competitive one. However, it has enjoyed greater levels of consistency typical of the overall healthcare sector. So much so that the dental industry was among the handful of industries considered ‘insulated’ during the 2008 Global Financial Crisis.

Fast forward to 2020, the Covid-19 pandemic has thrown the rule books out the window. No single business sector was immune to what the pandemic had in store. Infections, endless lockdowns, and fear of the unknown, among other reasons, forced our industry to a grinding halt.

Now that we are somewhat on the other

When looking at this landscape, it would remind one of Maximus from the movie Gladiator. “Survival of the Fittest” is the name of the game. Is the playing field equal? Far from it. As the presence of non-dentist-owned dental business entities continues to increase in the market, even the smallest dental business must arm themselves with the right toolkit if they plan to tip the scales in their favour.

With Centaur Software being an industry veteran in the Australian dental space, we are acutely aware of the challenges faced by our dentists during and after the pandemic. Understanding the industry landscape led us to work tirelessly since 2020 on the quest to arm our practices with the ‘Maximus Armoury’. The result of these efforts is our grand entrance into the world of analytics.

side of the pandemic, it’s time to look forward to seeing what the future holds.

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NOVEMBER 2022 | ISSUE 9

It’s common to miss the key difference

OI allows dental practices to operate in

between strategy and tactics, even

the most efficient way with a clear

among the most business-savvy. While

understanding of the current status quo

strategy is the overall action plan that

of the business. The typical users of OI

takes you where you want to go, to the

are the operational teams ranging from

end goal, tactics are the individual steps

front desk staff to clinicians and practice

that will get you there. The two types of

managers.

analytics required to succeed in business differ in a similar way. They

On our quest to arm Centaur practices

are Business Intelligence and

with all they need to compete in this

Operational Intelligence.

game of survival of the fittest, we posed the question – What type of analytics

Business Intelligence (BI) – the school of

does today’s dental practice need? The

analytics that supports strategic

answer is simple; to implement

decisions (e.g., increase the number of

successful tactics and strategies in your

chairs in the next two years, open

business, you need both Business and

another location in the next five years,

Operational Intelligence.

increase the value of the practice and retire in the next seven years). BI lets

As a pioneer in the practice management

you understand your business from a

space, we understood that our strength

holistic perspective, identify trends and

lay in practice operations. We had the

strategise accordingly to bring you

know-how to provide our practices with

closer to your overarching business

the best-in-class operational analytics.

goals. The typical users of BI are

Fast forward two years, in 2022, we

practice owners, managers and

launched Practice Insights (a

management consultants.

complimentary module in our Dental4Web platform) which delivers

Operational Intelligence (OI) – the type

operational Intelligence, and DentalBI

of analytics that supports the tactical

(an integrated platform in collaboration

decisions in the day-to-day running of

with the global analytics leader, Practice

the business (e.g., the amount of

By Numbers) which delivers business

whitespace in the appointment book for

intelligence.

the next seven days, patients with future appointments, booked vs unbooked recalls.)

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Keeping on with the Gladiator theme,

about a game of survival of the fittest.

DentalBI is what helps you win the

Are you going to be one of the few still

tournament, while Practice Insights is

standing victorious in the arena when it’s

what gets you through one duel at a

all said and done? The choice is yours!

time. The next five years will bring

That’s where the Patient Discovery module can help put your practice on the proverbial map.

Used by more than 4,000 dental practices throughout Australia, New Zealand, United Arab Emirates and several other countries in Eastern Europe, Dental4Windows is a software platform designed to optimise your

BECOME VISIBLE TO NEARLY 2 MILLION PEOPLE: THE VALUE OF PATIENT DISCOVERY A solid majority of Australian adults (15 years of age and up) have paid a visit to their dentist in the last 12 months, according to the Australian Institute of Health and Welfare. If one of these millions of dental patients wanted to switch dentists, would they be able to easily find your practice?

If someone is new to the country, state or is contemplating switching oral care providers due to unsatisfactory care,

practice in a variety of ways. One of the solutions within the platform’s online bookings is Patient Discovery, which has the potential to connect you with nearly 2 million potential patients who are in need of new or alternative dental care through partnerships with leading online directories. It’s the quickest way to shore up your patient base without ever having to leave your office.

But the value of Patient Discovery goes beyond patient base expansion. Here are a few of the reasons why this solution is a smart investment toward your practice’s ongoing success, and a great value for your would-be patients as well:

they’ll start searching for a dentist, likely online.

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A. SERVE AS A LIFELINE FOR YOUR PATIENTS’ ORAL CARE NEEDS Even though close to 60% of Australians required the services of a dental professional in 2021, approximately 20% wound up not going, according to estimates from the Australian Institute

But long delays can be another barrier to health services, whether it’s to see a dentist for a throbbing toothache or for a general practitioner.

This is another built-in value prop of Patient Discovery. By becoming discoverable and offering convenient scheduling, you can become a good

of Health and Welfare.

alternative option for patients who are

There are a variety of reasons why

wait times with their current dentists.

patients don’t go to the dentist when they need to, which can include the cost of treatment, a poor experience with

dealing with unnecessarily lengthy

C. SIMPLIFIED APPOINTMENT BOOKING

their current practice or an inability to find a provider that accepts their chosen

In a similar vein, everyone is busy —

form of payment.

there’s so much to do and so little time to get it all done. Health appointment

When exasperation with a long, difficult

scheduling is often on to-do lists, but

search is an issue, Patient Discovery can

may go unaddressed if offices close

help. This service ensures your practice

before patients are able to phone in

is highly visible in top directories

their requests.

trusted by millions of users, making the dental practice search quick and

The hoops patients have to jump

painless for potential new patients. With

through to schedule a visit are among

Patient Discovery, you’re putting your

the leading reasons why Australians

practice in front of a vast new audience

would not recommend their dentist to

and, since you prioritise customer

a friend, coworker or family member,

satisfaction, your office may be just the

according to a survey by the Australian

practice that your patients have been

Health Index.

looking for.

B. CUT WAIT TIMES No one likes to wait, especially when it comes to health care.

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Patient Discovery gives you and your

remote climes are more than 10% less

patients the ability to schedule an

likely to see a dental professional than

appointment online, 24 hours a day, so

people who live in major cities like

the office opening too late or closing too

Brisbane and Melbourne. Lengthy wait

early is never an issue.

times, an inability to find a practice they like or socioeconomics may be

D. TAP INTO REMOTE AREAS

contributing reasons as to why.

With a robust population of

Not only can your soon-to-be patients

approximately 25.8 million people,

find you, but you can identify your

Australia is a great country to live in

patients, a connection that may not

with lots of things to do and places to

otherwise come to pass in a country as

visit. While city life is enjoyable for

sprawling as Australia. Recruiting more

those that thrive in metropolitan

patients doesn’t have to be a pain. With

settings, many prefer the peace and

Patient Discovery, it’s a delight.

Patient Discovery is a great equalizer.

quiet of the outback. However, according to data from the Australian Bureau of Statistics, those living in

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NOVEMBER 2022 | ISSUE 9

SYMPOSIUM OVERVIEW What a fantastic outcome! Let's take a look into this year's National Centaur Symposium.

On behalf of our Partners, the Centaur Team would like to thank you all for joining us at the 2022 National Centaur Symposium.

Across 4 weeks, we visited 8 outstanding venues around Australia and had a fantastic time getting face to face again, sharing knowledge, a glass of wine and reconnecting with you all. Together we raised over $8K in ticket sales that has been donated to the Starlight Children’s Foundation Australia, a worthwhile cause transforming the lives of seriously ill children and their families across the country.

A big congratulations to all the Symposium winners, who took home thousands of dollars’ worth of prizes each evening. Thank you again and See you next time!

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