by Karah Karah | Apr 25, 2018 | Prescriptions for your Practice
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Addison Killeen has built a network of thriving dental practices in a location that is known to be saturated with practices. Tune into this episode to get in on the wisdom and strategy that he used to successfully nurture practices and teams. Addison gives us some perspective when it comes to the importance of building relationships in the dental community and focusing on areas that are your expertise.
He discusses providing procedures that people truly want and staying away from the salesy side of dentistry. Addison also shares how his practice dropped the no-show/ cancellation rate by 2% with one simple and time effective solution. He introduces and discusses his new book and the importance of focusing on the right data to transform your practice.
Key Quotes:
- “It was really a cool experience to be able to walk into a practice where nothing else changes, not a whole lot of pressure on me other than – just don’t crash the boat.”
- “The key to our growth is through relationships. We’re just available when a selling doctor kinda gets ready to exit.”
- “All of the coolest things I’ve learned in the past couple years have all come from dentists and the associates that I hire.”
- “Dentistry was – you still get to be a surgeon and an artist but yet you can have the life 100%”
- “At first, the idea of multiple practice ownership wasn’t something that I totally thought was a great idea or main goal but just through doing things it’s kinda happened.”
- “People don’t like to feel like they’re getting sold stuff.”
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by Karah Karah | Mar 14, 2018 | Prescriptions for your Practice
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With April drawing nearer, there’s one thing that’s sure to be on all of our minds: taxes. Understanding financial reports and navigating the tax code can definitely feel daunting, especially with recent changes to consider. But thankfully we have Jonathan VanHorn back on the show to share his insight.
The founder of Dentist Metrics and the man behind the Start Your Dental Practice podcast, Jonathan has helped dental practices all over the country grow their businesses by gaining control of their finances. In this episode, he discusses common financial mistakes he sees dentists making, his advice about what to look for in an accountant, and what dentists should know for the upcoming tax season.
Key Quotes:
- “The biggest mistake I see [among dentists] is people not really understanding what a CPA does.”
- “You need to know what [your CPA is] is going to be doing for you from an accounting perspective, what they’re going to be doing for you from a tax perspective if they offer something like financial planning … et cetera, et cetera.”
- “I’m of the very strict belief that if you had the absolute best dental CPA from a technical perspective, and you had the absolute best general CPA from a technical perspective, you’d have no difference in taxes.”
- “There are general CPAs out there that would do just as well as a dental CPA, and would likely probably cost less, but the problem is, it’s really hard to figure out who those are if you don’t understand the tax code.”
- “I think if you are a single practice owner, and you try and set up a DSO for owning a single practice under the guise of qualifying for Section 199A, you’re moving from aggressive to gambling.”
- “One thing that is completely consistent in the tax courts is that the IRS does not like the reclassification of income. They are not fans of that, and they are well known for trying to cut through that like hot butter.”
- “Everything you do in front of the IRS has to have a valid business reason—it has to be substantiated in some fashion, and ‘I was gonna save more money in taxes’ is not a valid reason.”
- “I think Dental Success Network is going to be something that’s going to be a powerhouse for years to come.”
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by Karah Karah | Feb 23, 2018 | Prescriptions for your Practice
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This is a very special episode with an exciting announcement that has been hard to keep quiet until now! You’ll hear some familiar voices in today’s discussion, as we have The Dentalpreneur, Mark Costes, and The Dental Hacks, Jason Lipscomb and Alan Mead, joining me to share the big news.
We’ve teamed up with some of the most well-respected names in dentistry to create something that will help dentists take their practices to the next level. Listen in to learn all about it now!
Key Quotes:
- “That’s what makes dentistry exciting for me, is just watching people innovate and then taking that information back and putting it into my practice.”
- “The people that you want to learn from are the people who are literally in their offices learning.”
- “When I start self-leadership, the team is easier to lead, and when the team is easier to lead, the practice reaches new levels.”
- “Sometimes in your practice, you’re the smartest guy in the room, and to perpetually not be the smartest guy in the room is a really good way to level up your life, your practice, and all those sorts of things.”
- “Once you see someone else reach new heights, it’s almost simple for you to do the same.”
- “A big part of our quest is to create an empowering and safe place.”
- “We’ve really gone through meticulously and thought about all the pain points in our own private practice journey and created a support system so that you can be in the number one position once and for all.”
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by Karah Karah | Feb 7, 2018 | Prescriptions for your Practice
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Getting a dental practice up and running is one matter, finding the right staff and systems is a whole different matter. When faced with various issues concerning billing, insurance and staffing, Dr. James Anderson found effective solutions that not only worked for his business but for many other dental practices around the country. Today his company, eAssist Dental Solutions, is providing truly helpful solutions to dentist offices and he is here to share his journey and top tips to running an effective and stress-free practice.
James talks about how he got started in dentistry and discovered (the hard way) some key problems that bog down dental offices everywhere. He shares the most basic and important ways that an office should be handling insurance, billing, customer service and more. He also gives some helpful tips and tricks for getting the most out of insurance and serving your clients and practice to your best ability. James talks about eAssist’s core values and really casts an inspiring vision for how office management and accountability should work.
Key Quotes:
- “I wanted to be a physician because I wanted to serve mankind.”
- “I just set a goal every year to build a new practice.”
- “I really didn’t want to build a big DSO at all. I wanted to give people like me, who wanted their own dental practice, a turn-key practice.”
- “In the end the hardest thing was always finding someone in the front to manage the practice.”
- “They hope that they don’t have people that are following up properly because after 12 months or 18 months, depending on the insurance plan, they don’t have to pay you legally. It’s called a timely filing issue.”
- “You know you have a problem when someone says, “We love your office doc but, no offense, your billing is all messed up.” “
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by Karah Karah | Oct 25, 2017 | Prescriptions for your Practice
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When new generations come to work, it can be hard to adjust the way things are done in order to retain them. Gary Kadi is on the show and has some great insight on how to work well with millennials and build a practice that is engaged and effective. He also discusses why he stands against corporate dentistry and how he communicates more effectively with patients.
Gary really has found an interesting system to work with millennials that could benefit all practices. From a regular feedback and reward system, he has figured out how to speak the language of millennials that retains them and keeps them motivated. He also touches on why it’s so important to focus on preventative care rather than just reactionary care in order to truly protect the oral health of your patients.
Another big mission for Gary is his fight against corporate dentistry. He explains why this business model can become harmful to the dentistry industry as well as to the patients. He discusses what he is doing to save private practices and encourage the type of care that is patient-centered rather than board member-centric.
Key Quotes:
- “Millenials only want to work in a purpose-driven business, they don’t want to be working in a transactional business.”
- “They have a purpose, they have a bonus structure, they have a dream program and those layers are game-changers.”
- “People do business with people who have the same beliefs.”
- “The way to make money in dentistry is S – Salary, P – profit and F is freakin’ equity.”
- “Retaining the private practitioner retains the care, the quality care for patients.”
- “Our job is not just, you know, putting crowns on, but we’re here to create longevity and saving peoples’ lives and making a difference on the overall health of the patient.”
- “The minute you believe that you should find the chief complaint, the game is over from the start.”
- “We have to serve the patient from a preventative position not a reactive position.”
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by Karah Karah | Oct 4, 2017 | Bold Biographies, Prescriptions for your Practice
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Being self-employed and running your own business can bring some incredible rewards. It also tends to bring many dilemmas and issues your way that other people may not understand. There are things that entrepreneurs tend to sabotage themselves and their business with that can easily be managed and avoided.
Peter Shallard, the “Shrink for Entrepreneurs” is here to share some insight on common issues entrepreneurs have and how to fix them.
On this episode, Peter tells us his story on how he ended up working mainly with self-employed entrepreneurs and why he loves what he does. He sheds some light on issues like self-sabotage, perfectionism, over-optimization syndrome, and discomfort avoidance. Peter explains how these issues can negatively affect your success and how to avoid thinking and acting in ways that bring on these problems.
Key Quotes:
- “The problem with self-employment has always been that it’s this very lonely place to sometimes be because you’re doing an incredible amount of work and you’re wrestling with problems and challenges that other people by nature of what they do just can’t quite connect with or understand.”
- “There are a huge number of small business owners that have an execution problem.
Who just don’t have the capacity or focus to take action on all the good ideas they have.” - “The self-sabotage kind-of kicks in because the human brain isn’t really that well optimized for operating in a state of kind-of social isolation.”
- “Perfectionism is a danger because it’s a false narrative, sort-of a self-deception, that we tell ourselves as a way to sort-of keep ourselves in the comfort zone and prevent ourselves from having to do work we fundamentally find scary.”
- “It’s more comfortable to be working on something than it is to finish it and put it out there in the world and find out, Oh this didn’t go quite as well as we thought it would go.”
- “Entrepreneurs learn and get the best kind of insights and experience from executing.”
- “There’s nothing of value or substance created in the business world without somebody leaning into discomfort and uncertainty and doing courageous work to make it happen.”
- “We’ve almost gotten so comfortable that we believe it’s bad to feel uncomfortable.”
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