True Dental Success Institute

Archive for May 2018


325: Multiple Practice By The Numbers

clinical hygiene

 

Addison KilleenAddison Killeen, black belt coach and author, is back on the show to talk essential numbers and multiple practice management. Dr. Killeen recently wrote an incredible book titled “By The Numbers.” In this book you’ll find how to value a practice based on EBITDA, tips on obtaining financing, information on entity structure, and legal documentation. He also shares the numbers he tracks on a daily basis, analytics he uses to assess the health of his six practices, and some numbers he revisits every couple of years.

During our time together, Dr. Killeen and I discuss:

  • How to keep multiple practice management simple
  • Cost per chair hour and how it fits into cost per procedure
  • Why you should look at your procedure mix every year
  • Targets for some of Dr. Killeen’s favorite data points, including
    • Number of days until next new patient
    • Collections percentage
    • Average online review score
    • Number of days in AR
  • Why reappointment rate and no show / cancel rate may be interdependent
  • The EBITDA method of practice valuation
EPISODE RESOURCES



324: Achievement vs. Fulfillment

clinical hygiene

 

Don’t try to outproduce a problem. Join Jake Conway and me on Whiskey Wednesday as we set the numbers aside for a discussion about life’s greatest questions.

During our time together, Jake and I discuss:

  • The continuous pursuit of your full potential
  • Jake’s vision for the future of the Advanced Analytics Think Tank
  • Alastair McDonald’s Four Futures
  • The importance of mindfulness
  • How to make time for the most important people in your life
  • Our morning routines
  • The power of presence
  • Why achievement is hollow when balance is absent
EPISODE RESOURCES



323: Business Basics 101

clinical hygiene

 

BusinessIntuition can be invaluable, but business decisions need to be informed by data. Knowing your cost per procedure is a crucial component of a comprehensive understanding of practice profitability. This Tactical Tuesday comes from a key note presentation during which I explain how and why to calculate your cost per procedure (CPP).

On this Tactical Tuesday, I discuss:

How CPP should influence the PPOs a practice accepts

The balance of intuition and data

How to calculate CPP, including utility and staff costs

Improving your PPO negotiations through referencing your CPP

EPISODE RESOURCES



322: Defeating Price Creep

clinical hygiene

 

Keeping a large inventory is like squirrelling away money that could be used elsewhere. In this addition of Metrics Monday, Mike Lomotan breaks down his Purchase Order (PO) system and explains how to consistently keep your dental supplies below 4%.

During our time together, we discuss:

  • What POs are and how to implement them
  • How POs allow you to scrutinize supply orders before they are sent
  • An easy way to keep supply companies in check
  • The power of real time inventory
  • A resource that allows you to easily leverage multiple suppliers
  • Preventing price creep
EPISODE RESOURCES



321: Defibrillating your Dental Practice

clinical hygiene

 

DSIIn this solo episode I check in with our podcast family to talk about what is on the horizon for us at DSI, ask for some feedback on the new things we’ve been doing with the podcast, and explain how to take the first step toward a complete operations manual.

During this episode, I discuss:

  • Updates on the Scottsdale Training Facility
  • A new podcast segment
  • Themes form the Advanced Analytics Thinktank
  • How to begin your operations manual with the systemization jump start

How do you like the shorter episodes? What do you want to hear covered on Metrics Monday? Reach out on our socials and let us know!

EPISODE RESOURCES



320: The CEO Playbook with Dr. Richard Low: Part 2

clinical hygiene

 

Richard LowWelcome back to part two with Dr. Richard Low of the Shared Practices podcast. Scroll down and listen to part one if you haven’t already! We’re covering everything systemization.

During this part two episode, we discuss:

  • What to do when the team pushed back against the operations manual
  • The importance of documentation and keeping employee records
  • Over systemization
  • The power of check lists
  • Systemizing the operations manual review
EPISODE RESOURCES



319: The CEO Playbook with Dr. Richard Low: Part 1

clinical hygiene

 

On today’s episode I’m interviewed by Dr. Richard Low. Richard is currently finishing up a GPR as part of a HPSP scholarship, and is the co-host of the Shared Practices podcast. Their podcast has a little different format in which they break things down by season and cover certain topics as they pertain to the season- acquisitions or startups for example. They brought me on the show to talk about a topic that is near and dear to my heart, systemization.

During our time together, Richard and I discuss:

  • Why becoming a better clinician is not always the answer
  • How to get buy in with your operations manual
  • Why leadership is the key to culture, operational systemization, and cash flow and overhead control
  • The importance of making time for uncomfortable conversations
  • Our front office call tracking system
  • How to create a system for the little things that aren’t getting done
EPISODE RESOURCES

 




318: The Secret to Team Accountability

clinical hygiene

 

accountabilityHow do you create a cadence of accountability? Is it a person? A system? One way we create accountability at Horizon Dental Group is via the weekly WIG meeting. On this Tactical Tuesday I explain how to hold your team accountable with the weekly WIG meeting and an organized agenda.

During this episode, I discuss:

  • Examples of the lead measures, lag measures, and the whirlwind
  • All of the accountability measures we use at DSI
  • The importance of opening with positivity
  • Our exact weekly wig meeting agenda
EPISODE RESOURCES



317: Analytics to Know in Hygiene

clinical hygiene

 

Jake ConwayMetrics OG Jake Conway joins me today to breakdown hygiene profitability. Jake spends a ton of time analyzing dental practice numbers as the CFO of DSI and founder of Custom Analytics. His experience is obvious as he explains the numbers to track in order to run a healthy, profitable hygiene department.

During our time together, we discuss:

  • Why it’s okay to break the 30% rule as a larger practice
  • How to look at hygiene as profit center
  • The numbers to look at if you have holes in hygiene
  • Focusing on your 40 favorite patients
EPISODE RESOURCES



316: Transition Tips with a Southern Accent With Dr. Ben Kacos

clinical hygiene

 

Dr. Ben KacosIt’s graduation time and over 5,000 new dentists will be hitting the streets over the next few weeks.

In today’s episode I sit down with my good friend and DSI black belt coach, Dr. Ben Kacos.
Ben is a practice owner who has successfully merged a second office into his flagship location in Shreveport, LA.

Ben and I chat about how new grads and young dentists can position themselves as successful associates and eventual practice owners.

Ben brings his quick wit and Southern charm to this fun and educational episode. Enjoy!

EPISODE RESOURCES