Eastman Kodak Files Chapter 11. What a Dental Office Can Learn

Well it was bound to happen, and after months of murmurs and whispers Eastman Kodak has finally filed for Chapter 11 bankruptcy.

How the mighty do fall.  We often forget that prosperity is a fragile proposition.  From individuals, to companies, to iconic brands and even nations, sooner or later the realization that success is not a birthright comes banging down your door.  Success must be nurtured and protected.  A long struggle to the top ends with a long struggle to maintain your position once you're there.

Eastman Kodak did a poor job of understanding the capricious mistress of success.  Kodak held a 90% market share in the late 70's.  A seemingly unassailable position from which to fend off competitors.  But the giant of film underestimated their competition. Kodak's corporate hubris blinded them to the realities of a dynamic market where paradigm shifts like digital technology were legitimate threats to the health of their empire that could be leveraged by competitors.  In turn, their response to these threats arrived fatally slow.

We all know that digital technology has achieved eminence in the world of dental imaging.  Dental offices are approaching 100% adoption of digital imaging technology, so beating the dead horse of 'upgrade to digital' is redundant.  

However, there are lessons to learn here.  While the equipment doesn't make the dentist, it certainly helps or hurts.  Dentistry (like every other industry in the history of the world save politics and prostitution) exists in a dynamic ever-changing environment. It's imperative that doctors keep a pulse on the trends of the industry, and certainly not allow your hubris to dismiss potential threats out of hand.  

Spend the time to investigate that latest toy or technique.  Stick to your principles while making purchases.  Make sure the new technology can be integrated into your office and that it fits with your techniques and culture.

While it's too late to do much good for Kodak, you can certainly keep us out of Chapter 11 by taking a look at this Kodak 8000 currently for sale.