The following interview is part of an ongoing effort by McGuireWoods to profile key leaders in the dental industry. To nominate a key dental leader for a future interview, please email Bart Walker at [email protected] Or Kayla McCann Marty [email protected].
Dr. Grace Yam is a board-certified pediatric dentist and founder and owner of Yummy Dental & Orthodontics for Kids, a pediatric dental clinic with two locations in the Chicago area. Dr. Yam is also the founder and CEO of Mommy Dentists in Business, a network of over 7,500 dentists who, like herself, are mothers and business owners. In addition to managing the Mommy Dentists in Business community, Dr. Yam hosts the Mommy Dentists in Business podcast. After 11 seasons, Dr. Yam's podcast has been ranked in the Top 100 on iTunes and #3 out of the Top 15 Dental Podcasts by Patterson Dental. Crossing the peak It is a publication and has been downloaded approximately 80,000 times. Dr. Yum has also published two books as part of Mommy Dentists in Business. Mom Dentist Business: Juggling family life with running a business and Advice to my younger self.
Dr. Yam is nationally recognized in his field and has appeared as a recurring guest on NBC's TODAY show and NBC Chicago. parents magazine, Childrearing Magazines and Chicago Parents She is a magazine editor and also appears on various podcasts on topics including dentistry, work-life balance, and business tips for working mothers. In her spare time, she enjoys spending time with her two children and husband in Chicago.
Q: What first got you interested in the dental industry?
Dr. Yam: I started working in the dental industry as a dental assistant for a family friend who was an orthodontist and worked as an associate in several offices. Even through college, I continued to work part-time as a dental assistant and enjoyed working with and interacting with patients. I loved the impact I made on patients and the relationships I built. I was also attracted to the flexibility that doctors have in their careers, being able to adjust their schedules and work as little or as much as they wanted.
question: What lessons have you learned about what it takes to be successful in the dental industry??
Dr. Yam: The lessons I learned to be successful are applicable to any industry in general – dedication, integrity, hard work – but specific to the dental industry I learned the critical importance of using your hands and having a highly skilled technique.
question: Who has inspired you in the dental industry and why??
Dr. Yam: An exemplary dentist in the dental industry that I respect and admire is Dr. Maxine Feinberg. Dr. Feinberg is a member of the mom dentist community in the business and was the third woman to serve as president of the American Dental Association. She is a mother and a practicing dentist in New Jersey. Dr. Feinberg became a dentist at a time when very few women attended dental school. I tell her she is the Ruth Bader Ginsburg of dentistry.
question: How has your business been affected by COVID-19 (and how have you responded)??
Dr. Yam: When COVID-19 began, we didn't know what to expect. But as more information became clear and the government imposed mandatory shelter-in-place orders, I walked out of the office and told my team, “See you in two weeks.” The Mommy Dentist-in-Business community put their heads together and kept our business in good hands. We made sure we were up to date on all fronts, including HR, banking, OSHA, and the Centers for Disease Control and Prevention. We were able to secure the personal protective equipment, air purifiers, and other tools we needed to open safely when the time was right. When my two practices were able to open, patients trusted me and my team to bring their pediatric patients safely.
Q: What are the best opportunities for revenue growth in dentistry right now?
Dr. Yam: In the dental industry, the best opportunity to grow revenue right now is to become a fee-for-service practice or offer an in-office dental plan. Right now, dentists are limited in the number of patients they can see due to COVID-19, so it's important for practices to maximize productivity. Now is a great time to drop insurance plans and keep all profits in the office. Another way to grow revenue is to become a niche practice. I always say “there is wealth in niches,” whether that's a specialty practice or developing a niche service that's competitive in your area.
McGuireWoods has published additional thought leadership analyzing how companies across industries can address key business and legal issues related to COVID-19.
