HOSTS: Dr. Peter Boulden & Dr. Craig Spodak

GUESTS:  Chase Howard

 

 

 

 

 

HOSTS: Dr. Peter Boulden and Dr. Craig Spodak

GUESTS: Dr. Trey Tippit and Dr. Dwight Peccora

 

In this episode, our Fearsome Four is back in full force as we discuss the state of dentistry in 2024 based on data from Dental Intel. We explore topics such as the stability of practices, the impact of inflation on the industry, and the increase in cancellations and no-shows. We emphasize the importance of tracking key performance indicators (KPIs) and implementing strategies to improve patient engagement and reduce no-shows. We also highlight the need for dentists to focus on their mental and emotional well-being to navigate the challenges of running a dental practice.

 

 

 

 

HOSTS: Dr. Peter Boulden 

GUESTS: Dr. Trey Tippit and Dr. Dwight Peccora

 

Join us as we break down the well know Harvard Business Review: "Who's got the Monkey" and apply it to the world of delegation, boundaries, and time management in the dental practice. We explore the concept of 'monkeys' - those pesky tasks or problems we delegate to others - and provide invaluable insights on effective delegation strategies and problem-solving techniques. From setting clear expectations to fostering open communication, we'll uncover the keys to preventing monkeys from taking over your work life. Get ready to empower yourself and your team to tackle challenges head-on while maintaining a healthy work-life balance.

 

 

 

06:17 - The Story of 'Whose Monkey Is It?'

 

The Bulletproof Dental Podcast Episode 343

• Comprehensive diagnosis is essential, but effective delivery of treatment plans is equally important.
• Recording consultations can help dentists improve their presentation skills.
• Fear of rejection and discomfort can hinder effective enrollment.
• Empathy and understanding the patient's perspective are crucial in the enrollment process.
• Body language and context play a significant role in treatment presentations. Use patient-benefited language and avoid technical jargon to effectively communicate with patients.
• Record frequently asked questions and provide videos or resources to patients prior to consultations.
• The belief set and confidence of the doctor are important factors in patient acceptance.
• Storytelling and leadership can engage patients and build trust.
• Avoid talking to patients in a supine position and consider using consultation rooms for treatment presentations.
• Establish a smooth patient handoff process to ensure continuity of care.

The Bulletproof Dental Podcast Episode 342

• Understanding the differences between acquisitions and startups is crucial in making informed decisions.
• Financial factors such as revenue, debt-to-revenue ratio, and cash flow play a significant role in acquisitions.
• Operational efficiencies and utilization rates are key metrics to consider in underperforming practices.
• Determining the purchase price based on body count can help in evaluating the value of an acquisition. Body count, or the active patient count, is an important metric to consider when evaluating an acquisition.
• Different metrics, such as average production per patient visit, can provide insights into the efficiency of a practice.
• Addressing attrition and periodontal disease is crucial in maintaining patient retention and improving overall oral health.
• Using effective verbiage and communication techniques can help navigate uncomfortable conversations with patients and team members.
• A letter of intent (LOI) is a non-binding agreement that outlines the terms and conditions of an acquisition, and it is important to clearly communicate expectations and components in the LOI. Negotiating the deal involves discussing important components such as non-compete clauses.
• Due diligence is crucial and should include reviewing financial data, evaluating equipment and IT systems, and assessing the team and culture of the practice.
• Using memorandums of understanding (MOUs) and letters of intent (LOIs) can help facilitate the acquisition process.
• Phasing in changes after the acquisition can help build trust and retain the team.
• Learning from mistakes and continuously improving the acquisition process is essential.