True Dental Success Institute

Archive for July 2017


173: Exponential Growth- It Ain’t All Sunshine and Rainbows

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“Nothing worth having comes easy.”

This eternally appropriate quote comes from Theodore Roosevelt and it’s a mantra that I’ve become accustomed to since I embarked on my journey of multiple practice ownership.

In this episode of the Dentalpreneur Podcast, my partner, Dr. Mark Davis and I riff about some of the challenges and insights that we’ve encountered so far in our quest to create an exceptional dental group.

During our discussion we cover:

  • The number one barrier to growth that most dentists face when expanding their group
  • How to find the right candidates for acquisition
  • Structuring your entity legally and the importance of doing this correctly from the beginning
  • How to find motivated sellers that are willing to finance the transition
  • How to create win-win scenarios that benefit the seller and buyer

EPISODE RESOURCES




172: The Whirlwind, Start-Ups, and Hacks for Inexpensive Expansion

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We get tons of “mail.”

Emails, IM’s, fb messages, voice messages, texts…

Sometimes, the volume is so great that we can’t keep up and answer all of it- but please know, we do our best AND we still want to hear from you!

For that reason, we decided to create the Dental Success Institute closed FB group as our main line of communication.

In this episode of the Dentalpreneur Podcast, I answer some great questions submitted via FB to our team here at DSI Headquarters.

During this Q and A session, you’ll hear three members of my awesome team-  Ashlee, Sam and Kay read some of the questions posed by our podcast listeners.

Specifically we talk about:

  • Some great inexpensive hacks for building out operatories in a start up and an expansion
  • The definition of the WIG, lead measures, lag measures and the Whirlwind and how to use these terms to create growth and a compelling vision for your business
  • How to know when to engage a third party biller and when to keep it in-house
  • How to get your collections to net productions ratio 97% or higher

EPISODE RESOURCES




171: Norman Gelfand – Knowledge-Based Negotiation

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“Everything is Negotiable.”

“There is no such thing as a standard commercial real estate contract.”

Whether of not you agree with these two quotes above, if you’re about to sign a lease, renew your current lease of purchase a commercial property, this episode is a “must listen.”

In this episode of the Dentalpreneur Podcast, I interview Norman Gelfand, President of the Gelfand Group, a real estate brokerage firm specializing in tenant and buyer representation.

During our conversation, Mr. Gelfand shares some of the high points of what he’s learned in his over 30 years in the commercial real estate world.

We discuss:

  • How leases are able to get negotiators with decades of experience without any out-of-pocket cost
  • Specific safeguards that anyone who is signing a lease must have integrated in to their contract
  • How to effectively review and analyze a lease, even if you have no experience in commercial real estate
  • How to handle disputes that arise between landlord and tenant

*** Let’s connect!! Don’t forget to sign up for the Dental Success Institute Facebook Page to post questions, comments or topics you’d like answered by me or covered on the podcast!

EPISODE RESOURCES

 




170: Driving Progress with Effective AM Meetings

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My morning huddles have evolved quite a bit in the last 15 years.

They’ve gone from practically non-existent to a much more refined, efficient and effective process.

In this episode of the Dentalpreneur Podcast, Kiera Dent, our lead in-office implementer and I discuss how we run our morning huddles and the method to our madness.

Click above to listen to the episode

*** Let’s connect!! Don’t forget to sign up for the Dental Success Institute Facebook Page to post questions, comments or topics you’d like answered by me or covered on the podcast!

If you have your own more effective process for morning huddles, please don’t hesitate to post your comments on the FB group.

EPISODE RESOURCES




169: Who is Policing Dental Insurance Companies?

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dental insuranceIs our perpetual struggle with dental insurance companies a fair fight?

Most would agree it’s not.

Simply put, as physicians of the oral cavity, we are held to a higher standard than insurance companies.

While we have a standard of care and our patient’s best interest as our primary concern, dental insurance companies have an entirely different focus and objective- profit.

Thankfully, there are advocates that stand up for the dental profession and have the courage to take on the behemoth dental insurance companies.

In this episode of the Dentalpreneur Podcast, I interview Ben Tuinei, the founder of Veritas Dental Resources. During our time together, we discuss:

  • The best way to handle repeated unjustified denials from dental insurance companies
  • How to break out of the “bloody prophy practice” trap
  • New coding techniques to maximize payment and get appropriately compensated for service you are already performing
  • The facts you need to know about bundled services and downgrades

EPISODE RESOURCES




168: Building Your Empire Through Practice Acquisition

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practice“Without shortcomings or errors and beyond criticism.” That is Dictionary.com’s definition of Bulletproof.

And while we all know that it’s impossible for any dental practice to be without its flaws, focusing on the right systems and strategies can get any practice to be much more efficient, effective and profitable.

In this episode of the Dentalpreneur Podcast, I’m rebroadcasting Dr. Peter Boulden’s interview of me on his show, The Bulletproof Dental Practice Podcast.

During the interview, we talk about:

  • How to become a Proactive versus a Reactive CEO
  • The reality of burnout and career dissatisfaction in dentistry
  • How to reverse engineer your ideal financial result
  • The “Flagship Principle” and how to apply it to your growth trajectory
  • Success strategies in practice acquisition

 

*** Let’s connect!! Don’t forget to sign up for the Dental Success Institute Facebook Page to post questions, comments or topics you’d like answered by me or covered on the podcast!

EPISODE RESOURCES




167: Heidi Arndt – 7 Keys to a Wildly Profitable Hygiene Department

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Heidi ArndtOne of the most important decisions that I made early on in my career was to surround myself with people that were smarter than me.

When it comes to helping your hygiene department reach its full potential, there’s nobody smarter than my friend, Heidi Arndt, RDH.

In this episode of the Dentalpreneur Podcast, I rebroadcast a live presentation from Heidi at our Dental Success Summit 2017 in San Diego. As usual, Heidi brought the house down with her practical and implementable strategies.

During her address she covers:

  • How to correct a hygiene department that is flat-lining or declining
  • How to grow even when there’s no room in the hygiene schedule
  • The best growth strategies for your hygiene department
  • Implementable strategies to make your hygiene department wildly profitable

*** Let’s connect!! Don’t forget to sign up for the Dental Success Institute Facebook Page to post questions, comments or topics you’d like answered by me or covered on the podcast!

EPISODE RESOURCES




166: How to Find, Hire and Keep an A-Team

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One of the most predictable determinants of an elite dental practice is an exceptional team.

But if you’ve been involved in the dental practice game for any length of time, you know that sometimes it’s harder to find a qualified team member than a herd of unicorns.

In today’s Tactical Tuesday episode of the Dentalpreneur Podcast, I sit down with Kiera Dent, Regional Manager for my dental group, Director of in-office consulting for the Dental Success Institute and owner of DentalPlacementPros.com to discuss how to find, hire and retain a great team.

During our beachside chat, Kiera and I discuss:

  • The correct way to place ads for maximum effectiveness
  • The proper method for screening and reference checking your applicants
  • How to administer a personality test and the reasons why this is an important exercise
  • How to properly set expectations for a new hire
  • The interview flow that will yield the most predictable hires

 

*** Let’s connect!! Don’t forget to sign up for the Dental Success Institute Facebook Page to post questions, comments or topics you’d like answered by me or covered on the podcast!

EPISODE RESOURCES




165: Double Your Income without Increasing Production

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How would it feel to double your take home income without doing any additional dentistry?

In this episode of the Dentalpreneur Podcast, you’ll hear a live keynote presentation that covers exactly how one doctor was able to increase his take home income by over $200k without doing any additional dentistry.

Specifically, I discuss:

  • The best sequence for handling an out of control overhead
  • The fastest way to address inefficiencies in your billing department
  • How to prioritize action items when a practice is losing money
  • The right time to start ramping up marketing and new patient acquisition

EPISODE RESOURCES




164: Increase Case Acceptance, Create Passive Income and Decrease Patient Attrition

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Sometimes the simplest ideas are the most profoundly effective.

If you’re not offering in-office membership and savings plans in your practice you’re missing out on a huge opportunity.

In this episode of the Dentalpreneur Podcast, I interview Jordon Comstock, founder of BoomCloudApps.com and the co-host of the Navigating Dental Insurance Podcast.

During our chat, we discuss:

  • How to integrate in-office membership plans to increase revenue and decrease attrition in your dental practice
  • The best resources for ensuring that your plan is in compliance with state regulations
  • The do-it-yourself steps to creating your own plan
  • How to delegate out the creation and administration of your plan

EPISODE RESOURCES