Schein settles FTC charges it misled customers about encryption of patient data

Henry Schein Practice Solutions, Inc. (“Schein”), the provider of leading office management software for dental practices, will pay $250,000 to settle Federal Trade Commission charges it falsely advertised the level of encryption it provided to protect patient data.

The FTC’s complaint alleges that Schein marketed its Dentrix G5 software to dental practices around the country with deceptive claims that the software provided industry-standard encryption of sensitive patient information and, in doing so, ensured that practices using its software would protect patient data, as required by the Health Insurance Portability and Accountability Act (HIPAA).

Read the full article here.

Source: https://www.ftc.gov/

Seminar: Transition Strategies for Buyers and Sellers

A seminar for dentists who are contemplating a practice transition, presented by the Almonte Fallago Group

"Transition Strategies for Buyers and Sellers"

(Please call 1-866-211-9602 for upcoming dates & venues)
Earn 5 AGD CE Credits

This seminar is designed for the dentist contemplating a practice transition in the next five years. It is important for:

  1. a dentist thinking about retirement and selling his practice.
  2. the busy dentist looking to take on a partner.
  3. the senior dentist thinking about retiring and withdrawing from a group practice.
  4. the young dentist hoping to buy a practice or become a partner.

Seminar Leader: Jean Fallago, JD, LLM, President of Almonte Fallago Group
Guest Speaker: Caitlin O'Rourke, Sales Manager, Bank of America Practice Solutions

Click here to download a brochure with more detailed seminar information.

Selling or Buying a Practice

Key topics include:

  • When is the right time to sell? (Proper timing means better dollars.)
  • What is your practice really worth?
  • Should you use a broker?
  • How the seller can reduce the tax impact.
  • How the buyer can maximize tax deductions.
  • Should the seller finance the sale? If so, how to assure seller payment.
  • What happens to seller’s corporation at retirement?
  • Real estate: should the seller sell or lease? Should the buyer buy or lease?
  • How to continue funding pension plans from sale proceeds.

Taking in an Associate, becoming a Partner, or withdrawing as a Partner

Key topics include:

  • Planning strategy - picking the best exit strategy for you.
  • How do you know if you need an associate?
  • How should an associate be compensated?
  • How do you sell or buy an interest in a partnership?
  • How to determine value of partnership interests.
  • How to create equitable compensation and profit split formulas among partners.
  • How to avoid difficulty in attracting new partners upon a partner‘s withdrawal.
  • How to continue funding pension plans from sale proceeds.
  • How selling partner can obtain cash at closing.
  • How to avoid major blunders in partnership buy out documents.

Here’s what a few prior attendees had to say about this seminar:

“Outstanding information. Extremely well presented.”
J. David Laughlin, DDS | Woodstock, VT

“The seminar provided a model arrangement for a partnership that is fair to both dentists.”
Ralph S. Guercio, DDS | Merimack, NH

“This seminar was packed with information on all aspects of practice transitions. It was an enjoyable day.”
Kelly A. Chase, DMD | Ludlow, MA

Please call the Almonte Fallago group at 866-211-9602 to register, or email us at info@almontefallagogroup.com. We hope you can join us to learn more about "Transition Strategies for Buyers and Sellers".