Shared Practices | Your Dental Roadmap through Practice Ownership

Latest Episodes:

Coaches Corner: Metric Blindness Sep 23, 2024

Show notes

Richard and Caitlin dive into "metric blindness" in dental practices, focusing on how to understand and manage Accounts Receivable (AR) for financial health.

Key Highlights:

Understanding Accounts Receivable (AR):

AR reflects the money owed for services provided but not yet collected. Learn how it can be a positive indicator when managed correctly.

Key Metrics for AR Management:

Metrics like the collections ratio, AR to production ratio, and aging categories provide a clear view of your practice’s financial health.

Proactive AR Strategies:

Discover proactive measures to keep cash flow healthy, like setting clear collection guidelines and accurate cost estimates.

Don’t let metric blindness limit your practice's success. Find out how to manage AR effectively! Have a question or topic you want us to cover? Reach out to us on social media or our website at www.sharedpractices.com. Don’t forget to subscribe and leave a review if you enjoyed this episode!

Maximizing for Profit or Growth - Ask George - The Shared Practices Podcast Sep 09, 2024

Show notes

In this episode, George discusses every dental practice owner's crucial decision: Should you prioritize profit or focus on growth? He breaks down the key differences between these strategies, explains how to assess which approach fits your practice, and shares the financial metrics that matter most. George also explores how practices can achieve profit and growth through the right balance. Key Highlights:

Profit vs. Growth Strategy: Understand the differences between maximizing profit (cutting costs, optimizing cash flow) and growth (reinvesting profits to expand).
Critical Metrics for Profit and Growth: Learn about the essential metrics to track, such as profit margin, overhead percentage, revenue growth, and patient acquisition.
Choosing the Right Path: Get guidance on prioritizing profit or growth based on your practice's goals, financial health, and long-term vision.
Balancing Profit and Growth: Discover strategies to balance profit and growth by optimizing current operations while reinvesting for the future.

Have a question or topic you want us to cover?

Reach out to us on social media or leave a comment on our website at www.sharedpractices.com. Don’t forget to subscribe and leave a review if you enjoyed this episode!

When Luck Meets Strategy: Doubling a Practice in a Year w/ Dr. Andrew Clingan Sep 02, 2024

Show notes

Dr. Andrew Clingan shares his rollercoaster journey of purchasing a dental practice right out of school and transforming it into a million-dollar business within a year. He opens up about the brutal realities of the first few months, the importance of finding the right team, and a mix of luck and leadership.

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