True Dental Success Institute

Archive for August 2017


178: Thinking About Starting a DSO?

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Like it or not, there’s something huge brewing in the dental profession.

Small, medium and large Dental Support Organizations (DSO’s) are popping up across the country.

If you’re wondering where this trend came from, where it’s going and whether you should jump on board or watch from the sidelines, this episode is for you.

Today on the Dentalpreneur Podcast, I interview Brian Colao with the Dykema Law Firm.

Brian and his firm represent over 200 DSO groups in all 50 states in the areas of entity formation, compliance, mergers, acquisitions, working with private equity and just about anything else that you can think of in the DSO world.

During our conversation, we discuss:

  • The history of DSO’s and why this time, they’re not going away
  • The importance of legal structure and why it’s so important to define your exit even prior to formation
  • The practice valuation benefits of selling a group versus a solo practice
  • What private equity is looking for when they vet for groups of practices to buy
  • The legal way for non-dentists to own interest in dental practices

EPISODE RESOURCES




177: Verbiage, Standard of Care and Supervised Neglect

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Here’s a challenge for you…

What’s the best way to “retrain” a patient or an entire patient base that has been neglected under the supervision of another dental team?

In this episode of the Dentalpreneur Podcast a chat with my friend and fellow DSI coach, Dr. Ben Kacos.

During our discussion we cover:

  • The best verbiage for getting a neglected patient base up to the standard of care
  • How to integrate change without alienating an entire patient base
  • How to edify another dental care provider- even if their care has been substandard
  • The best way to quickly build trust and rapport with new patients or in a new practice

EPISODE RESOURCES




176: Profit is NOT a Four Letter Word

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I had to pinch myself.

I did a triple take.

Yep, that’s what it says… I guess you can call me a bit of an entrepreneurial nerd  (at least that’s what my wife Leslie calls me) but there are certain authors and speakers in the entrepreneurial space that are like rock stars to me.

Three weeks ago, one of my heroes emailed me out of the blue.

I had never met him before but apparently he had heard about the Dentalpreneur Podcast and asked if I thought he would be a good fit for my audience. My response… “YES!!”

In this episode of the Dentalpreneur Podcast, I interview Mike Michalowicz, author of The Pumpkin Plan, The Toilet Paper Entrepreneur and Profit First.

After I got over being a bit star struck, we had a great chat about business, specifically PROFIT.

During our conversation we covered:

  • How to restructure your business to ensure that you can “afford” your expenses
  • The simple strategy that will clarify the way that cash flows through your practice
  • The easiest way to make your practice more profitable
  • The biggest mistakes that entrepreneurs and business owners make when allocating business expenses
  • The importance of keeping your ego in check and following a plan when things are going well
  • The specifics for digging yourself out of a hole following a downturn

Connie’s contact information is:

Connie Jacox – Founder / CEO of BLBK Solutions
website : https://www.blbksolutions.com/about
phone : 360-524-3232
Email : info@blbksolutions.com

EPISODE RESOURCES




175: Your Last Day of Clinical Dentistry

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clinical dentistryImagine it’s your very last day of clinical dentistry.

You rack your handpiece, take your foot off of the rheostat and walk out of the operatory.

You’ve finally finished a chapter of your life that’s been decades in the making…

Now what? (Hint: I’m not just talking to late career dentists)

In today’s episode of the Dentalpreneur Podcast, I answer this question posed by a listener who is facing the above scenario, well before his time.

In just his early forties, Dr. Will’s doctors suggest that he finds a second career, because within three years, he will likely be physically unable to continue to practice dentistry.

During this episode, I discuss:

  • Whether or not selling your practice at its peak is the best plan for early retirement from clinical dentistry
  • The options open to any dentist once his or her clinical career comes to an end
  • Several different potential avenues to replace clinical production
  • “Low impact Dentistry” and how to integrate it into your practice
  • Why focusing on overhead and cash flow could be the most important practice to master when you are preparing for transition out of clinical dentistry

EPISODE RESOURCES




174: Effective Associate “Onboarding”

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AssociateWhat is your current method for training an incoming associate doctor?

For most practices, training a doctor that’s new to the practice involves nothing more than throwing them in to a full schedule and seeing if they sink or swim.

In this episode of the Dentalpreneur Podcast, Kiera Dent (DSI’s chief in-office implementer and Regional Manager for Flagship Dental Group) and I discuss our process for on-boarding a new dental associate.

Specifically, we discuss:

  • How a structured, high level process allows new grads to quickly develop their practice management and clinical armamentarium
  • The importance of calibrating a new doctor with the owner’s preferences and expectations early on in the relationship
  • How to overcome the challenges of hiring a seasoned doctor that is resistant to change
  • How to align practice philosophies in order to avoid future bottlenecks and conflict in your dental practice

EPISODE RESOURCES