True Dental Success Institute

Archive for February 2016


050: Jonathan VanHorn – Inside The Mind Of The Dental CPA

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050-jonathan-vWelcome to another episode of The Dentalpreneur Podcast. Joining us today is Jonathan VanHorn.

Jonathan is a CPA, founder and creator of Dentists Metrics—a coaching and virtual accounting firm for dentists, and host of the “Start Your Dental Practice” podcast. After years as a corporate and small business CPA, Jonathan recognized the need for appropriate financial guidance in the dental profession. Starting as an outsourced CFO for dentists, his firm has evolved into a digital accounting firm with clients in 14 states. Today Jonathan and I discuss what dentists should know about their monthly profit and loss metrics. He shares the top three mistakes most dentists make when it comes to optimizing their business income. He also explains how to best prepare for tax season with your CPA and when your tax planning should be scheduled with your accountant, to be most effective.

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

In this episode you’ll hear:

  • Why dentists should have a philosophy of profit first
  • How to lower expenses
  • Why your staffing expense is probably a revenue issue
  • How you can lower your cost by just asking for a discount
  • What you should be looking at on your tax return for deductions
  • Why tax time is not the most effective time to try to tax plan with your accountant

Special thanks to Jonathan VanHorn for taking the time to speak from his busy schedule to speak with me on today’s show. Thanks to you for joining us on another episode of the Dentalpreneur podcast.

If you enjoyed today’s episode and would like to hear more incredible ways to improve your practice, join us for the 4th Annual Dental Success Summit 2016 on April 1st & 2nd, 2016 at the Scottsdale Resort in Scottsdale, AZ. Early bird tickets are still available at www.DentalSuccessSummit.com.

EPISODE RESOURCES




You’ll be Grateful You Made Time for this Habit

There are a handful of low-cost, no-cost tactics that you can deploy that not only build your practice, but also help to make you a more balanced and grateful person.

  1. Daily post-op calls made by the doctor to all patients who received anesthetic on any given day
  2. Selecting a local “Charity of the Month” and highlighting them in your marketing as well as donating proceeds to them
  3. Hosting a “Free Dental Day” to serve those less fortunate in your community several times per year
  4. Travel on dental missionary trips or donate services to a veteran or victim of abuse or neglect who otherwise could not afford to get their smiles restored

For one of my favorites, watch this quick 3:57 video…

Don’t forget…It’s not too late to register for the upcoming Dental Success Summit at a 60% discount. On April 1-2, 2016, you’ll have the opportunity to experience the beautiful surroundings of the Scottsdale Resort, world class speakers, incredible food and cocktails (supplied by yours truly) and 14 CE credits- it’s a total no-brainer!

Click here to register for DSS ’16

Looking forward to meeting you in Scottsdale!

All the Best,

Mark Costes, DDS
Founder, Dental Success Institute
Founder, Horizon Schools of Dental Assisting
Author of the #1 International Bestseller Pillars of Dental Success
Host, The Dentalpreneur Podcast on iTunes

grateful

 




049: Vincent Cardillo – Secrets Of A Corporate Dentistry Executive

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Vincent CardilloWelcome to another episode of The Dentalpreneur Podcast. Joining us today is Vincent Cardillo.

Vincent is a multiple practice advisor, specializing in positioning clients for long term growth by strengthening and developing strategic structuring and systemization in their practices. Vincent is the founder of Dental Management Innovations and has more than 17 years in the dental practice management field. Today, Vincent and I talk in depth about developing and using private equity to grow your practice. Vincent discloses the six evolutionary stages of practice growth in great detail. He shares how to legally structure and maneuver practices for a successful group model. Vincent also discusses the key elements that lead to substantial, increased shareholder value in each company. In this episode we also focus on the power of practice partnerships and how centralized management creates leverage and maintains standards throughout a group practice model.

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

In this episode you’ll hear:

  • How to create a financial environment for successful use of private equity
  • Why you should use a consultant for planning rapid growth and expansion
  • How to strategically bring small practices or small groups together to create more value
  • The six evolutionary stages of practice growth
  • Why a multiple practice company should also have a management company

Special thanks to Vincent Cardillo for taking the time to speak with me on today’s show. Thanks to you for joining us on another episode of the Dentalpreneur podcast.

If you enjoyed today’s episode and would like to hear more incredible ways to improve your practice, join us for the 4th Annual Dental Success Summit 2016 on April 1st & 2nd, 2016 at the Scottsdale Resort in Scottsdale, AZ. Early bird tickets are still available at www.DentalSuccessSummit.com.

EPISODE RESOURCES




Extreme Ownership

Talk to any ultra-high achiever in any field and you’ll find someone who takes 100% responsibility for everything that happens in her life and business.

I read or listened to over 100 non-fiction books in 2015 and by far, the most impactful was Extreme Ownership, How U.S. Navy Seals Lead and Win by Jocko Willink and Leif Babin.

In this book, the authors, both battlefield veterans, parallel the tactics, strategies and lessons learned in combat to the world of leadership and business.

In this quick video, I discuss my biggest take-aways and how we, as dentists and practice owners, can apply these lessons to improve every aspect of our personal and professional lives.

Click above to watch the video

Don’t forget…It’s not too late to register for the upcoming Dental Success Summit at a 60% discount. On April 1-2, 2016, you’ll have the opportunity to experience the beautiful surroundings of the Scottsdale Resort, world class speakers, incredible food and cocktails (supplied by yours truly) and 14 CE credits- it’s a total no-brainer!

Click here to register for DSS ’16

Looking forward to meeting you in Scottsdale!

All the Best,

Mark Costes, DDS
Founder, Dental Success Institute
Founder, Horizon Schools of Dental Assisting
Author of the #1 International Bestseller Pillars of Dental Success
Host, The Dentalpreneur Podcast on iTunes

Extreme Ownership




048: Dr. Geoffrey Wan – Private Practice: Australia vs. U.S.

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Geoffrey WanWelcome to another episode of The Dentalpreneur Podcast. Joining us today is Dr. Geoffrey Wan.

Dr. Wan was born and raised in Vancouver, Canada by immigrant parents from Hong Kong. After obtaining a degree in chemistry Geoffrey applied to a number of dental schools in both the United States and Australia and was accepted to school in Sydney. With a strong desire to live and practice in the United States, Geoffrey settled in Washington for his residency. Not long after he met his wife, who happened to be from Australia, he soon found himself happily married and back in Sydney. Geoffrey brings a unique perspective to the show with his experience in both the United States and Australia. Today we discuss the differences in dentistry and insurance between the two countries and where the future of dental practices might be headed in Australia.

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

In this episode you’ll hear:

  • The differences between the Australian Health Fund and PPO’s in the United States
  • Why practice culture in Australia is not focused on returning patients as much as the United States
  • How the overall role of a dentist in Australia varies due to the presence of Oral Health Therapists and not Hygienists
  • Why the patient costs contrast so much between the two countries
  • The concerns new dentists have in building a practice from scratch in Australia

Special thanks to Dr. Geoffrey Wan for taking the time from his busy schedule to speak with me on today’s show. Thanks to you for joining us on another episode of the Dentalpreneur podcast.

If you enjoyed today’s episode and would like to hear more incredible ways to improve your practice, join us for the 4th Annual Dental Success Summit 2016 on April 1st & 2nd, 2016 at the Scottsdale Resort in Scottsdale, AZ. Early bird tickets are still available at www.DentalSuccessSummit.com.

EPISODE RESOURCES

  • Jetlabservices.com
  • Podcasts mentioned in the episode
    • “Thriving Dentist Podcast Show”, hosted by Dr. Gary Takacs
    • “The Passionate Dentist Podcast”, hosted by Dr. Bilal Sahib
    • “Dentistry Uncensored”, hosted by Dr. Howard Farran
    • “The Dental Hacks Podcast”, hosted by Alan Mead and Jason Lipscomb
    • “Dentistry’s Ideal Practices Podcast”, hosted by Jayme Amos
  • Books mentioned in this episode
    • The Power of Habit, by Charles Duhigg
    • Extreme Ownership: How the U.S. Navy SEALs Lead and Win, by Jocko Willink and Leif Babin
    • Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future, by Ashlee Vance
    • Empire State of Mind: How Jay Z Went from Street Corner to Corner Office, by Zack O’Malley Greenburg
  • DentalSuccessSummit.com
  • Get your free copy of Pillars of Dental Success
  • Subscribe to The Dentalpreneur Podcast
  • Write a Review on iTunes



Powerful No-Cost Dental Efficiency Hack

Today I want to share with you one of my favorite no-cost, low-tech dental efficiency hacks that we use in my practices.

This simple strategy can help to decrease bottlenecks and increase the flow of any dental practice.

Click above to watch the video

Swipe this idea from me, alter or improve it as you see fit- and let me know how it works for you!

Just a reminder:

The deadline to register for the Dental Success Summit 2016 at a 60% discount is rapidly approaching! Don’t miss the opportunity to rub elbows with successful, like-minded dentists from all over the world, watch some of
the best dental speakers in our profession,and get 14 CE credits in a beautiful resort in Scottsdale, AZ.

Click here to register for DSS ’16

Look forward to meeting you in Scottsdale!

All the Best,

Mark Costes, DDS
Founder, Dental Success Institute
Founder, Horizon Schools of Dental Assisting
Author of the #1 International Bestseller Pillars of Dental Success
Host, The Dentalpreneur Podcast on iTunes

Dental Efficiency




047: Jayme Amos – Building The Ideal Practice From Scratch

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Jayme AmosWelcome to another episode of The Dentalpreneur Podcast. Joining us today is Jayme Amos.

Jayme is founder of Ideal Practices Consulting, author of Choosing the Right Practice Location, host of “Dentistry’s Ideal Practices Podcast” and host of the upcoming events “Startup Practice Blueprint” to be held in San Antonio, Miami and Las Vegas this year. Jayme has a degree in International Business and has focused his expertise in dental practice startups, focusing on site selection, demographics, financing, construction, floor plan design and profitability.

Jayme and I discuss the challenges dentists face in starting their own practice and the practical steps they can execute to ensure greater success. He describes the importance of defining the ideal patient, in addition to finding the right location and doctor/patient ratio. Jayme also shares how marketing for a new practice should begin months prior to the grand opening and can result in as many as 100 new patients on opening day.

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

In this episode you’ll hear:

  • Why you should choose your landlord for a new location as much as you should choose the location
  • What the ideal doctor/patient ratio metric should be
  • How defining your office’s vision can build your patient base
  • The importance of understanding your working capital
  • Why understanding commercial real estate lease laws is essential
  • How to envision and create a successful floor plan for your new practice

Special thanks to Jayme Amos for speaking with me today. Thanks to you for joining us on another episode of the Dentalpreneur podcast.

If you enjoyed today’s episode and would like to hear more incredible ways to improve your practice, join us for the 4th Annual Dental Success Summit 2016 on April 1st & 2nd, 2016 at the Scottsdale Resort in Scottsdale, AZ. Discounted tickets are now available at www.DentalSuccessSummit.com.

EPISODE RESOURCES