True Dental Success Institute

Archive for June 2015


015: Chuck Stewart and Maureen O’Brien – How to Maximize Fees and Compensation in Your Practice

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stewart-obrienWelcome to another episode of The Dentalpreneur Podcast. On today’s show we are talking about how to maximize the fees and compensation in your dental office.

Joining us to share their wisdom in this area is Chuck Stewart and Maureen O’Brien, both of Dental Advisors, L.L.C. Today Chuck, Maureen and Dr. Costes talk about how to deal with insurance companies, how to adjust your fees and several tactics to make your practice more profitable. The focus of Dental Advisors, L.L.C. is improving the bottom line for dentists by interacting with insurance companies on behalf of Doctors. As consultants, Chuck and Maureen analyze a practices Usual and Customary Rates (UCR), review PPO and DHMO fees for the practice, review relationship with Medicaid and other government programs and explore new business opportunities.

All of that and more on today’s episode of The Dentalpreneur.

In this episode you’ll hear:

  • “Network Stacking”, and how it is affecting your practice
  • Current trends in PPO participation growth
  • How to negotiate with insurance carriers and what tools you should be using
  • Why updating your UCR yearly is so important
  • The importance of diversity in the plans (“Plan Portfolio”) you accept
  • Alternative ways to generate new revenue
  • Relationship development with your carriers

Special thanks to Chuck Stewart and Maureen O’Brien for sharing their strategies and insight on today’s show, and thanks to you for joining us as well. See you next time on The Dentalpreneur podcast.

EPISODE RESOURCES

 




014: Dr. David Phelps – From High Income to High Net Worth

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dr-david-phelpsWelcome to another episode of The Dentalpreneur Podcast. On today’s show we are talking about the freedom that multiple streams of income can bring.

Joining us to share his wisdom in this area is Dr. David Phelps. Today Dr. Phelps and Dr. Costes talk about Dr. Phelps’ Freedom Blueprint. Dr. Phelps states that it is important for the dentist to have a plan B, because there may come a time when practicing dentistry is not an option for you anymore. Dr. Phelps ran into this problem when his twelve year old daughter was very sick with cancer and needed a liver transplant. The freedom blueprint has two steps: The first step is to focus on or grow your practice or practices. The second step is to generate multiple streams of income outside the practices.

All of that and more on today’s episode of The Dentalpreneur.

In this episode you’ll hear:

  • How real estate can be a great second source of income
  • Why you should focus on cash flow in real estate not the price of the property
  • How to avoid getting burned in the real estate market
  • How to play different markets in your favor
  • How to structure a joint venture in real estate

Special thanks to Dr. David Phelps for sharing his strategies and story on today’s show, and thanks to you for joining us as well. See you next time on The Dentalpreneur podcast.

EPISODE RESOURCES

 




013: Dr. Alex Shalman – The Future in Esthetic Dentistry

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Alex Shalman 3Welcome to another episode of The Dentalpreneur Podcast. On today’s show we are talking about a very important topic: esthetic dentistry and personal development.

Joining us to share his wisdom in this area is Dr. Alex Shalman. Today Dr. Shalman and Dr. Costes discuss how Dr. Shalman has used his skills in esthetic dentistry and his passion for personal development to grow his practice.

All of that and more on today’s episode of The Dentalpreneur.

More About This Show:

Dr. Alex Shalman graduated NYU School of Dentistry and is now a clinical instructor there. Dr. Shalman is a 5th generation dentist and has owned his private practice for two years. He also has written and recorded very successful blogs and podcasts about personal growth and development. Dr. Shalman is also helping set up esthetics clubs at dental schools throughout the country. Dr. Shalman says that all successful people did not get there alone. Every successful person has had help getting to where they are.

In this episode you’ll hear:

  • How intraoral cameras can increase treatment acceptance
  • Why the bar is being raised in esthetic dentistry
  • How esthetics can be incorporated into everyday dentistry

Special thanks to Dr. Alex Shalman for sharing his strategies and story on today’s show, and thanks to you for joining us as well. See you next time on The Dentalpreneur podcast.

EPISODE RESOURCES




012: Dr. David Phelps – Dr. David Phelps interviews Dr. Mark Costes

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dr-david-phelpsWelcome to another episode of the Dentalpreneur Podcast. On today’s show, Dr. David Phelps host of the Dentist Freedom Blueprint Podcast and author of the book, From High Income to High Net Worth for Dentists interviews Dr. Mark Costes.

In this candid conversation, Dr. Phelps uncovers Dr. Costes’s challenging childhood and unlikely journey from twenty dental school rejections to the owner and founder of multiple seven figure dental companies.

In this episode you’ll hear:

  • How to leverage your credentials for maximum passive income
  • How to develop a mindset of persistence, tenacity and grit
  • How to structure your revenue sources to include multiple streams
  • The importance of seeking knowledge through self-education and mentors
  • How to create wealth and cash flow through multiple practice ownership
  • What’s better: acquisition or start up?
  • What’s better: outright sale or acquisition?

Special thanks to Dr. David Phelps for his participation in the episode and thanks to you for listening! Catch you next week on the Dentalpreneur Podcast.

EPISODE RESOURCES




This is NOT Sexy

Texting,  Search Engines, Liposuction, Fast Food… in case you haven’t noticed, we live in an instant gratification society.

But in the world of dentistry, there’s not short cut to mastering this phase  of the dental practice experience.

In this short video, I’ll discuss:

  • The mechanics versus culture approach…which to choose and why
  • The primary reason why so many practices execute this process so poorly and how to avoid this mistake
  • The simple technique that will prevent your patients from shopping your competition
  • The most effective way to demonstrate your clinical skill while building a deep level of trust with your patients

Click above to watch this video

*** Let’s chat! If you would like to set up a time to chat with me about how to get your practice to the next level, simply reply to this email with your name and a request to “speak to Mark'” and someone from my awesome team will set it immediately!

I look forward to connecting with you soon!

Committed to your Success,

Mark Costes, DDS
Founder, Dental Success Institute
Founder, Horizon Schools of Dental Assisting
Author, Pillars of Dental Success
Host, The Dentalpreneur Podcast on iTunes

PACE Program Provider