True Dental Success Institute

Archive for July 2015


020: Treatment Plan Acceptance: A Counterintuitive Approach

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Welcome to another episode of the Dentalpreneur Podcast. In today’s episode, Dr. Mark Costes discusses what he calls his “un-sexy” approach to treatment plan acceptance.

There is no shortage of coaches, trainers and consultants out there in the world today that have very strong opinions about the most effective way to get patients to say “yes” to proposed treatment.

As dental practice owners we’ve all asked the following questions regarding treatment plan presentation:

Who should be presenting the treatment plan? Where should the presentation take place? How long should it take? Is it best to use patient education software, models, pictures, sketches or verbal descriptions during the presentation?  How clinical should we get with our explanations? How do we approach the topic of payment? Dr. Costes breaks down his take on these commonly asked questions.

In this episode Dr. Costes will cover:

  • The role that rapport and trust play in treatment plan acceptance
  • How can the team guide the patient experience to increase the likelihood of case acceptance
  • The mechanics of the treatment plan presentation
  • The un-sexy truth behind great acceptance rates

Thanks for joining us for another episode of the Dentalpreneur Podcast!

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019: David Harris – Are Criminals Running Your Practice?

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019-david-harrisWelcome to another episode of The Dentalpreneur Podcast. On today’s show we are talking about an incredibly unfortunate, but common occurrence in the dental practice – embezzlement.

Joining us to share his wisdom and experience in this area is David Harris, CEO and founder of Prosperident-The Dental Fraud Experts. As the world’s leading expert on dental office embezzlement, David is also a Certified Fraud Examiner and a licensed Private Investigator. After David left his job as an investigator for a bank, he was asked by a friend that had a dental practice to investigate a possible situation of fraud. David soon discovered there was in fact a case of embezzlement occurring at his friend’s office. In a strange twist of fate, David later discovered the same person that committed the fraud working in yet another dentist’s office. From that experience David determined that there was a huge demand for specialist that investigated fraud specifically in dental practices. As disturbing as it might sound, some experts estimate that fraud occurs in as much as 70% of dental practices. Published numbers indicate that the likelihood of a dental practice falling victim to embezzlement in more than 50%.

In this episode you’ll hear:

  • The warning signs to be aware of if you suspect embezzlement
  • The characteristics of the ideal investigator
  • The tell-tale behaviors and habits of an embezzler
  • The primary reason that a person begins embezzling
  • The high tech techniques used to identify, outsmart and prosecute thieves working in your office
  • What can you do if you do catch someone embezzling
  • Some of the quick and easy methods to find out if you are at risk for embezzlement

Special thanks to David Harris for sharing his unique knowledge and expertise on today’s show, and thanks to you for joining us as well. See you next time on The Dentalpreneur podcast.

EPISODE RESOURCES

 




018: Jake Conway – Is Your Practice Bleeding Cash

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018-jake-cWelcome to another episode of The Dentalpreneur Podcast. On today’s show we are talking about analyzing, tracking and increasing the profitability for your dental practice.

Joining us to share his experience and wisdom on the topic is Jake Conway, financial analyst here at Dental Success Institute. Jake’s experience in financial analytics comes from working for a $200 million dollar a year company, where he traveled the world generating financial analytics used to make multi-million dollar decisions regarding resorts and hotels. Jake brought his wealth of experience to the Dental Success Institute and has adapted his financial knowledge to specialize in dental practices. Jake and Dr. Costes will be talking about true business analytics and really knowing and understanding how to calculate profitability and overhead for your practice. Although most dentists may have a bookkeeper or accountant to keep track of money coming in and going out, the report an accountant produces usually is not a custom business report that reveals where a practice can immediately increase profitability. What Jake does here at DSI is use those financials to create a custom report every month, that very clearly breaks down your expenses/overhead and your income. Using a practical rule of 30-30-30-10, Jake explains the most common places that money can be saved almost immediately for most dental practices.

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

In this episode you’ll hear:

  • What information should be reviewed to find opportunity to immediately increase profitability
  • What the 30-30-30-10 rule is, and how you can make it work for your practice
  • Why your practice should have a monthly scorecard for review
  • How to create accountability for profit within your staff
  • Common areas dental practices are over spending

Special thanks to Jake Conway for sharing his knowledge on financial analytics for dental practices on today’s show, and thanks to you for joining us as well. See you next time on The Dentalpreneur podcast.

EPISODE RESOURCES




YOUR Elite Dental Practice

Is your practice realizing its full potential?

It’s a simple and very important question but one that few dental practice owners take the time to reflect upon.

In this video shot at a keynote presentation that I recently gave in Scottsdale, AZ, I cover exactly what I believe it takes to get any practice to the elite level.

This formula is based on the patterns that I’ve noticed while building six successful dental practices and while working with and analyzing dental practices from all over the world.

I’ll cover:

  • Why so many dentists sabotage their own success and how you can avoid this trap
  • The skill that every dentist must master in order to bring his or her practice to the elite level
  • The Elite Practice Blueprint: how implementing it can help your practice approach it’s full potential

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




017: Are you Staff Dependent?

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mark-best-2-400Welcome to another episode of The Dentalpreneur Podcast. On today’s show I am sharing an excerpt from a keynote presentation I made in San Diego, CA.

On today’s show I discuss a case study of one of my clients; Dr. Tim. Dr. Tim has been at his practice for 25 years, of those years he owned the practice for the last 23 years. For many of those years Dr. Tim experienced a steady and reliable increase of income. In the last 4 years his practice has demonstrated a steady decline in income as well as a high turnover in personnel. In this excerpt, I focus on the difference between a staff dependent business and a system dependent business and the benefits and drawbacks of each. I also discuss the absolute importance of staff accountability and how to implement that accountability into any dental practice.

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

In this episode you’ll hear:

  • The dangers of a completely staff dependant practice
  • How to ensure your staff is providing a lifetime patient experience
  • Why you should create and implement an organizational flow chart
  • The importance of developing accountability for your staff and sticking to it

Special thanks to you for joining us. See you next time on The Dentalpreneur podcast!

EPISODE RESOURCES

 




016: Dr. Jason Lipscomb & Dr. Alan Mead – Profitability, Cashflow, And Dental Success

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Welcome to another episode of The Dentalpreneur Podcast. On today’s show Dr. Costes is a guest on “DentalHacks” podcast, hosted by Jason Lipscomb & Alan Mead. The topic of discussion is how a thorough business analysis and proven industry guidance can bring your dental practice to its full potential.

Today Dr. Mark Costes, founder of Dental Success Institute, discusses how consulting and coaching can help dentists make and get the most from their practice. From his early interest in dentistry and the many challenges Dr. Costes faced becoming a dentist, he learned that just being a dentist would not be enough to make his business the most it could be. Dr. Costes’ proven method of success has led him to open 7 successful dental offices, start a dental assisting school that now has more than 140 locations nationwide and author the book “Pillars of Dental Success”.

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

In this episode you’ll hear:

  • What should you do with patients once you have them
  • Why you may not be making the profit that you want from your dental practice
  • The basics to overhead and cashflow analysis
  • Why your practice “Scorecard” might have the answers
  • How to create additional passive income opportunities within the practice you already have
  • Why leadership & relationships are of paramount importance to your bottom line

Special thanks to Jason Lipscomb and Alan Mead from DentalHacks podcast for having me on as a guest, and thanks to you for joining us as well! See you next time on The Dentalpreneur podcast!

EPISODE RESOURCES