Final Flashcards

1
Q

What is the main disadvantage of a sole proprietorship?

A

Unlimited exposure to personal liability

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

T/F: In a general partnership there is unlimited liability for all owners.

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Which type of corporation leads to double taxation?

A

C corporation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is the most commonly used business entity for a dental office?

A

Limited liability company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

T/F: As an independent contractor, you would receive a W2 from your employer.

A

False

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is an “at-will” employee?

A

No promised term of employment. Typically used for staff but not dentist.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is a typical termination notice?

A

45-60 days

No less than 30

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

T/F: Restrictive covenants are not enforced in the state of Ohio.

A

False

Non-compete, non-solicitation, non-disclosure

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is “cash basis” accounting?

A

Income reported based on collections not production

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is the equation for an income statement?

A

Total revenue - total expenses = net profit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

T/F: Labor wages, lab fees, and supplies are fixed expenses.

A

False

Variable expenses change depending on the amount of business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

___________ tells you the financial status of your business at a particular point in time.

A

Balance sheet

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

T/F: Cash flow reveals financial condition.

A

False

Does not take into account assets other than cash

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is a SWOT analysis?

A

Strengths, weaknesses, opportunities, threats

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What is a good baseline of production right out of school? With more experience?

A

$250/hr

$750/hr

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What should the typical dentist:hygiene production ratio look like?

A

70(dentist)/30(hygiene)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

In general, hygienists should produce _______ times their salary.

A

2.5-3

Exam fee is not included in hygiene production

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What is the average overhead of a typical office?

A

60-65% of gross revenue

Payroll - 25-28%
Payroll taxes/benefits - 3-5%
Supplies - 5-7%
Lab expenses - 6-9%
Facility - 6-8%
Marketing - 3-5%
Misc. - 5-7%
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

When should an office consider hiring a new front desk employee?

A

Every $40,000 of monthly production, or every 10 patients/day

20
Q

T/F: Easy credit policies will lower accounts receivable, stricter policies will increase accounts receivable.

A

False

Opposite

21
Q

What should fees be in comparison to lab fees for various procedures?

A

Fixed - 5-7x lab fee

Removable - 3x lab fee

22
Q

Roughly how many new patients per month facilitates growth?

A

25 pts/month

35 to account for attrition

23
Q

T/F: External marketing is more costly than internal marketing.

A

True

24
Q

What are the best ways to avoid patient abandonment when terminating a patient?

A

Provide adequate notice in writing. Provide emergency services for an adequate time. Patients cannot be mid-treatment

25
Q

How long should dental records be kept?

A

4 years

26
Q

What is the mission of the Ohio State Dental Board?

A

Protect the public

27
Q

T/F: Investigators with the OSDB will make appointments.

A

False

28
Q

What is OARRS?

A

A tool managed by the Ohio State Board of Pharmacy used to combat opioid epidemic.

29
Q

When must you check with OARRS?

A
  1. Have reason to believe patient may be abusing drugs

2. Prescribe an opioid or benzodiazepine in excess of seven days

30
Q

Which regulatory board is concerned with x-ray unit performance and safety?

A

Ohio Department of Health

**OSDB regulates the radiographer but not the machine

31
Q

Which regulatory agency is concerned with employee safety?

A

OSHA

Blood borne pathogens, hazards communication, general safety

32
Q

Which agency is concerned with infectious waste disposal including sharps?

A

Ohio EPA

33
Q

T/F: Infectious waste under 5 lbs can be disposed in regular trash.

A

True

34
Q

What is the difference between errors of omission and commission?

A

Omission - something you didn’t do

Commission - something you did do

35
Q

T/F: Malpractice insurance will cover general anesthesia for general dentists.

A

False

Must be oral surgeon or have special license

36
Q

Describe a typical 1mil/3mil malpractice insurance plan.

A

1 million per occurrence. 3 million per year.

37
Q

T/F: Occurrence coverage is more beneficial than claims made coverage.

A

True

With occurrence you do not need tail coverage

38
Q

What is the statute of repose?

A

Malpractice suit cannot be brought up for something that occurred over 4 years ago

39
Q

T/F: No more than two EFDAs can practice under a dentist.

A

True

40
Q

T/F: Laser bleaching can be done by a dental hygienist.

A

False

41
Q

What is the difference between direct and general supervision?

A

Direct - dentist is physically present

General - dentist is not physically present

42
Q

When can a hygienist work under general supervision?

A
  • no more than 15 consecutive days/3 weeks
  • DHY must have 1 year and 1500 hrs experience
  • course on med emergencies
  • dentist must have examined pt within 1 year
  • pt must be notified
43
Q

What procedures are permissible under general supervision?

A
  1. Diagnostic impressions
  2. CRA
  3. Apply/remove perio dressings
  4. Bite registration
44
Q

How many hygienists can work under 1 dentist?

A

4

45
Q

T/F: Dental assistants can monitor nitrous oxide under certain conditions.

A

True

6 hour course, written exam, current CPR