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Bulletproof Dental Practice

Dentistry is evolving - Is your practice BULLETPROOF? Marketing. Systems. Leadership. Proven strategies to grow your practice with co-hosts Dr. Peter Boulden and Dr. Craig Spodak.
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All Episodes
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Now displaying: February, 2017
Feb 23, 2017

Bulletproof Dental Practice Podcast Episode 18

Host: Dr. Peter Boulden / Atlanta Dental Spa

Key Takeaways:

3 Reasons for Doing a Morning Huddle

  1. Bring your team into alignment
  2. Allow you to discuss opportunity
  3. Provides transparency. You can share your numbers with your team.

Tips for a Good Meeting:

  • Meetings should be done by the office manager or a team member
  • Start on time and when everyone is ready.
  • Meetings should be 15 minutes max.
  • End the meeting on a motivational note.

 Top Things to Discuss in a Meeting:

  • Look for same day opportunities
  • Look for outstanding treatments
  • Look for outstanding balances
  • Look for any marketing opportunities

Tweetables:

If you’re not doing the morning meeting, I highly recommend that you start ASAP because it will change the game. - Dr. Peter Boulden

Feb 15, 2017

Bulletproof Dental Practice Podcast Episode 17

Host: Dr. Peter Boulden / Atlanta Dental Spa

Guest: Dr. Brady Frank

Key Takeaways:

  • DSO (Dentist Service Organizations) were created to address legal challenges presented by corporate dentistry. Dentists can take advantage of this.
  • Dentists should learn how to become owner-dentists then hire an associate to do heavy lifting of clinical dentistry.
  • Equity harvesting - find a value-added practice, acquire it and convert it to cash
  • Knowing your business value may not necessarily have an impact to your retirement fund
  • How to have cash from investment and use it: (1) Find a value-added practice (2) grow the value-added practice and (3) find a way to receive cash from this asset
  • Get a dentist partner to work on the clinical side so you can work on the business side
  • Continuous exit strategy works with equity harvesting
  • If you acquire another practice, operate it as one business with your existing practice
  • Add dentist partners as you acquire more practices
  • The founding dentist becomes a private equity company also
  • Continuous exit strategy means you own a portion of your company (the DSO) and earn from it continuously as it expands to other regions
  • Hire dentists who want to work as partners vs those who want to just be associates. They are go-getters.
  • Dentists can compete with corporate if they understand how DSOs work.
  • Multiple Incomes available to dentists: management income, clinical income, income from building lease, residual income from regional DSOs, etc.

Tweetables:

Staying in the game will make you more energized and give you more cashflow. – Dr. Brady Frank

Resources Mentioned:

Feb 2, 2017

Bulletproof Dental Practice Podcast Episode 16

Host: Dr. Peter Boulden / Atlanta Dental Spa

Guest: Matthew Lewis

Key Takeaways:

  • Corporate often invites dental students to join them although it feels that they only present ideal scenario most of the time.
  • Deciding to sell to the corporate model is a tough decision to make.
  • Corporate dentistry can compete on pricing but not on relationship factor.
  • Dental students should keep their options open whether they'll go corporate or pursue a private practice.
  • Corporate dentistry can help dental students get a job and learn practical dental skills.
  • Huge dental debts encourage students to go corporate after graduation.
  • The more in-debt you are after graduation, the fewer choices you have.
  • Fewer students now want to start their own practice after graduation.
  • Corporate offers $500-a-day baseline pay to dental students.
  • Dental associates who are willing to hustle their pay after six months are good for a practice because it means they are interested to be in a win-win situation.
  • When selecting where to practice after graduation consider market saturation. Don't just go with the herd.
  • When looking for a CPA, look for someone who can give you personalized attention, especially if you are running your own business.
  • For contract reviews, you only need the simple services of an attorney.
  • When looking for people to work with - like a CPA or an attorney - look for someone who you are comfortable working with. Interview if necessary and ask for recommendations.
  • Corporate dentistry will make sure you work hard for the money they pay you.
  • Be awesome in something that you are passionate about. Don't force yourself to do something you do not like.
  • Try different procedures first in order to find something you love. You may like a procedure that you hated during school.

Tweetables:

  • Force yourself to back out and look at the big picture.
  • Keep an open mind at the things coming at you. Open mind is key.
  • Attitude is everything.
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