Money Matters Issue # 42

Dentists are fast learners. I have met two of them face to face last week. Both were conservative about savings plans and life insurance policies at the start of our conversation. At the end of our meeting both agreed that it is necessary to save and invest. Saving is a risky business which requires discipline especially when and if your income experiences a rough patch. We are 45 days into a doctors strike. Government has threatened to stop salaries of striking government doctors. As we have argued before in this newsletter, doctors in public service straddle the public - private sector divide. What if they stop getting their salaries from government? Their savings will be hit. Can their income from the private sector pick up the revenue slack? Yes, if they apply themselves to their private dental ventures with razor sharp, good business and operational practice. The assumption is that this non clinical side of private dental practice is known to all in private practice. I have some experience in imparting this knowledge, attitude and practice to those outlier dentists who want to take their revenues, saving and investment to the next level. The demand for nex-gen dentists to be financially savvy about the clinic and personal finances has never been greater. Now, for more dentists to seek to upskill and practice what we preach.

While on the subject of outliers I wish to celebrate Dr Denis Kimathi on his excellent co-authored publication titled Medication Related Osteonecrosis of the Jaw which discusses 3 cases managed in Nairobi. Additionally Dr Alexander Mwangi has distinguished himself on Linked-in by regularly posting captivating Prosthodontic content. I applaud Capt (Rtd) Dr Njeri Kabanga for growing in her dental career and generating a consistent income which is budgeted and well planned. I am happy to have shared several ideas with these three dentists. What do you have to celebrate from Jan 2024 to date? Like all teachers, mentors and coaches I celebrate vicariously with those I have interacted with in learning environments. Experience is the best teacher. The continuous educational trajectory of every dental professional has several cognitive and hands-on pit-stops. May your journey in acquiring new clinical, business and soft skills be smooth in May 2024.

Transition

Dr Martin Aliker (21 October 1928 – 15 April 2024) a renowned Ugandan dentist and businessman as well as advisor to President Museveni was buried last Sunday April 21 2024 in Gulu District, Northern Uganda. He lived and worked in Kenya from 1972 to the mid 90's. Kenya is the richer for his wisdom, business acumen and gifted hands. May he rest in peace and may his wife, Camille, children, Philip, Dr Okello (a dentist in Chicago) and Camille as well their families bear this loss with grace and strength.

Cohort 3 of my 5 week Aligning for Success in the dental industry online program started on Wednesday April 25 2024. To enrol click here

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