Start Your Dental Practice

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Quality Patient Financing For Your Dental Practice Aug 17, 2017

Show notes

Ever run into this problem?

A patient comes into your office with a major tooth ache. Within minutes you know they need a procedure done. Problem is… the procedure is a bit on the expensive side.

You explain the situation to your patient, and the patient agrees, they WANT the treatment... But simply can't afford the cost.

So they ask you to do the minimal amount to make the pain go away. Of course, within a few months, they will be back sitting in the chair right where they started.

The truth of the matter is, as a dentist you provide services that can change a patient's lives, but that doesn't always come cheap.

Fortunately, there are some alternatives out there today that allow you to provide the care you recommend while not forcing the patient into financial ruin.

How? By providing quality patient financing.

They keyword there is quality.

Of course, there are a few bad apples in the financial space who offer those in need predatory interest rates, but with today's technology and information at hand, there ARE options and services that aim to create win-win- situations for all those involved.

The lenders can make money, you generate more revenue for your practice, and the patient gets the service they deserve.

Today's guests Brad Bailor and Dave Roehr of Proceed Finance have a very interesting background and I think you'll find their view of patient financings interesting, even if you don't plan to offer patient financing.

Here is some of what you will learn today:

Why quality patient financing can create additional revenue for you and your practice AND help your patients afford the care they need.
Brad and Dave's "risk shared model" and why they believe it's changing the world of dental financing.
How to decide if patient financing is right for your practice.
Common misconceptions of patient financing as well as the pros and cons.

And much more.

Now here's my interview with Brad Bailor and Dave Roehr.

How To Build A Top Performing Team For Your Dental Practice Aug 09, 2017

Show notes

Whether you're just about to start your dental practice or looking to take your current practice to the next level, it all starts with building a good team.

In dental school, you learned how to fill a cavity and spent thousands of hours studying dentistry… but I'm guessing you didn't have to take a course on how to build a great team.

Which is why I'm so excited to introduce today's guest Alex Nottingham, CEO of All-Star Dental Academy.

For those of you who haven't heard of Alex, he is one of THE experts when it comes to building a great team and has provided hundreds of dentists all across the world the training and resources to set your dental practice up for success.

As I mention in the interview, Alex and I have been wanting to do this interview for over two years, and I think it was definitely worth the wait!

Here are a few things you'll learn:

Why building a team is so important, and the 2-3 things it takes to succeed.
The importance of "coaching" and why you need to make it a priority.
Alex's "Business Growth Formula" and how you can apply it to your practice.
Why not investing in employee training now, can actually cost you thousands of dollars down the road.

And much more.

Quotes

"Price is important… but you're changing lives. You're SAVING lives." - Alex Nottingham

Resources

All-Star Dental Academy

LAST Chane To Enter The 4 Books Every Dentist Should Read Giveaway!

We're excited to announce our very first book giveaway here at Start Your Dental Practice, my way of saying thanks for being a part of the SYDP community! To enter the contest just text " fourbooks " to 33444 and you'll be entered to receive four of my favorite books that I recommend to my clients. This is your last chance to enter before our drawing on Thursday.

There's no catch to join and in a few weeks I'll be picking a subscriber at random and sending the books their way!

Already have a copy of the books? No worries -- if you win I'll send you a $50 dollar gift card instead.

Again, to enter the contest just text " fourbooks " to 33444 and you'll be entered to win! I'll also immediately send you the list of books in case you can't wait and want to invest in the books today.

Support The Show

Without you, Ambitious Dentists, this show wouldn't exist.

If you enjoyed today's episode, please go here to give the show an honest rating and review in iTunes.

This allows me to evolve the show as it goes on, and also helps spread the word to other podcast listeners since iTunes promotes shows with active engagement.

How To Choose The Right Consultant For Your Dental Practice With Kiera Dent Aug 02, 2017

Show notes

How To Acquire A Dental Practice Part 2 Jul 24, 2017

Show notes

Today I'm really excited to be sharing part two of my self-hosted episode on how to acquire a dental practice. There's a lot that goes into buying a practice successfully, and in today's episode, I'll expand on what it takes to ensure the process goes as smoothly as possible.

If you enjoy these self-hosted episodes, be sure to let me know what you would like me to cover in the future and I will do my best to do so!

We also only have a few more weeks to enter the "4 Books Every Dentist Must Read" book give away! Be sure to listen to the entire episode to find out how to enter!

The Exact Steps of Buying A Practice And The Best Practices A Long The Way.
How To Find The Right Practices For Sale That Will Save You Both Time And Money.
The Importance of Knowing Your Strengths and Weaknesses When Buying A Practice.
Why Looking ONLY at Cost Can End Up Hurting You In The Long Run.
Some of The Most Common Frustrations Many of My Clients Have Faced And How To Avoid Them

And much more.

Quotes

"Understanding your strengths and weakensesses is very important when buying a dental practice." - Jonathan VanHorn

"Don't always start with the lowest costing practice" - Jonathan VanHorn

Enter The 4 Books Every Dentist Should Read Giveaway!

There's no catch to join and in a few weeks I'll be picking a subscriber at random and sending the books their way!

Already have a copy of the books? No worries -- if you win I'll send you a $50 dollar gift card instead.

Support The Show

Without you, Ambitious Dentists, this show wouldn't exist.

If you enjoyed today's episode, please go here to give the show an honest rating and review in iTunes.

This allows me to evolve the show as it goes on, and also helps spread the word to other podcast listeners since iTunes promotes shows with active engagement.

Nifty Thrifty Dentists - Time Tested Strategies For Building A Successful Dental Practice Jul 19, 2017

Show notes

One of my favorite ways to stay "up to date" with the dental industry is to be active in a few high-value Facebook groups. And though "social media" often gets a bad rap for being a waste of time, I often find the discussions and comments highly valuable.

When done correctly, Facebook groups help you stay on top of the latest trends and build meaningful connections with other dentists and professionals.

Were it not for Facebook groups, I wouldn't be introducing today's two very special guests, Dr. Glenn Vo and Dr. Vinh Nguyen of Nifty Thrifty Dentists.

When I first joined the Nifty Thrifty Dentist Facebook group a while back, I wasn't sure what to expect. "Nifty thrifty dentists?!?!" but I quickly learned that Dr. Glenn and Dr. Vinh are the real deal and have created an amazing community in a short period of time.

I'm excited to share my conversation with them and what they have learned from building such an incredible community.

Here are a few things you'll discover in today's episode

How Their Popular Dental Facebook Group Transformed into A Podcast and Beyond
What it means to be a "nifty and thrifty" dentist.
Why you should always seek out "veteran" docs… and what they can teach you.
The "Dental Brand" tax and how to get your essential items for significantly cheaper…

Nifty Thrifty Dentists - Time Tested Strategies For Building A Successful Dental Practice Quotes:

"Anyone can be a cheap, not not everyone can be thrifty" - Dr. Glenn

Enter The 4 Books Every Dentist Should Read Giveaway!

There's no catch to join and in a few weeks I'll be picking a subscriber at random and sending the books their way!

Already have a copy of the books? No worries -- if you win I'll send you a $50 dollar gift card instead.

Support The Show

Without you, Ambitious Dentists, this show wouldn't exist.

If you enjoyed today's episode, please go here to give the show an honest rating and review in iTunes.

This allows me to evolve the show as it goes on, and also helps spread the word to other podcast listeners since iTunes promotes shows with active engagement.

How To Acquire A Dental Practice 101 Jul 14, 2017

Show notes

As we gear up for some exciting new changes coming to the SYDP podcast, I wanted to share a self-hosted episode I put together discussing everything you need to know about how to acquire a dental practice.

Having talked with dozens of dentists about the process, I think you'll find this solo episode a great resource if you're in the process of acquiring your first practice or needing some guidance.

Even if you've already had a few acquisitions under your belt, I cover some common mistakes as well.

Many dentists I've spoken with equate the acquisition process to having your first child... you won't know what it's like until it happens, but being prepared goes a long way.

Here are a few things you'll discover in today's episode

How To Know When You're Ready To Acquire A Practice. And When To Hold Off
Why Choosing The Right Location Is So Important, And How to Ensure You Choose A "Winning" Location
The Best Tips And Tricks For Finding The Perfect Practice On Sale
Why Not All Practices Are Created Equal And What To Look For When Buying
The Importance of Having A Wide Diversity Options To Purchase

And much more.

How To Acquire A Dental Practice Quotes:

"The greatest acquisition opportunities come from personal relationships.." - Jonathan VanHorn

Enter The 4 Books Every Dentist Should Read Giveaway!

There's no catch to join and in a few weeks I'll be picking a subscriber at random and sending the books their way!

Already have a copy of the books? No worries -- if you win I'll send you a $50 dollar gift card instead.

Support The Show

Without you, Ambitious Dentists, this show wouldn't exist.

If you enjoyed today's episode, please go here to give the show an honest rating and review in iTunes.

This allows me to evolve the show as it goes on, and also helps spread the word to other podcast listeners since iTunes promotes shows with active engagement.

How To Negotiate Your Dental Practice Lease Like A Pro Jul 05, 2017

Show notes

Aside from graduating dental school, there are very few moments in the course of your dental career that are more important than when you sign the lease for your 1st (or 3rd) dental practice location.

It's scary. It's exciting. And if we're being honest, a little overwhelming.

Did you pay too much? Did you choose the right location? Did you protect yourself legally if anything goes wrong?

At the same time, purchasing a practice means you have tremendous opportunity to grow and scale your services and patient base.

Which is why I'm excited to introduce today's guest Norman Gelfand. Norman is the founder and president of Gelfand Group and is an expert in commercial real estate with over 20+ years of experience. He's helped hundreds of dental practice owners negotiate a lease that gives them the best chance to succeed.

In our chat today, he shares everything he knows about how to ensure you sign a lease that makes sense for you.

[su_note note_color="#028000 " text_color="#ffffff " radius="5"] Looking to lock down your dental practice lease? Make sure you ask these questions first. Click here to get access. [/su_note]

Here are a few things you'll discover in today's episode

The 3-4 things Norman looks for in every dental practice lease when helping dentists find their new location.
Why Norman insists on asking several very specific questions when working with his clients.
The biggest mistakes most dentists make when choosing their lease terms and how to avoid them.
How Norman has helped dentists save hundreds of thousands of dollars in the life of their lease.

And much more.

This Episode Was Brought To You By...

As a CPA for dentists, I get a lot of questions about which banks offer both the best rates and service for current and future practice owners and I virtually always recommend Bank of America. As such, I've teamed up to with Bank of America because I believe they are the best at what they do and want to help you get the best dental loan possible.

If you're interested in learning more based on what I discussed on the show, simply text "BankLoan" to the number 33444, and I'll put you in touch with my direct contact at BOA. There's no catch, or obligation if you decide it's not for you after learning more. I'm also happy to answer any questions you might have.

Full disclosure -- If you move forward with this goes to help me continue making the Start Your Dental Practice podcast the best podcast and resource for dental practice owners.

Free Episode Bonus

Negotiating a dental lease is a complicated process, and just one mistake can affect you for many years to come. Fortunately, there's the information and resources out there that can help you make the right call.

As a bonus for today, Norman has offered to share his article "The Questions You Must Ask Before You Sign Your Lease." If you're in the process of purchasing a new dental practice location, you'll definitely want to check out the tips he shares.

To get the bonus, simply text PRACTICE to 33444. Again, that's PRACTICE to 33444 or visit startyourdentalpractice.com/bonus if you're outside of the US.

You'll also receive updates on the latest episodes of Start Your Dental Practice, helpful tips for owning and running a practice, and promotional opportunities direct to your inbox.

Click here to access bonus.

Resources:

Gelfand Group

Support The Show

Without you, Ambitious Dentists, this show wouldn't exist.

If you enjoyed today's episode, please go here to give the show an honest rating and review in iTunes.

This allows me to evolve the show as it goes on, and also helps spread the word to other podcast listeners since iTunes promotes shows with active engagement.

How To Pay Off Your Student Loans With Travis Hornsby Jun 27, 2017

Show notes

Chances are if you're listening to this podcast, you have some student loan debt.

Having worked exclusively with dentists for most of my professional career, it's not common for me to see aspiring practice owners coming out of school with 400-500k in student loan debt, and that's only for a dental license!

While we can debate whether or not the large costs are justified, the reality is, without a student loan plan of attack, you'll be stuck making payments for the rest of your life.

Which is why I'm excited to share my conversation with Travis Hornsby, founder of StudentLoanPlanner.com

Travis has helped hundreds of professionals take control of their finances and student loan debt -- and has an incredible track record of helping his clients become debt free.

Even if you're fortunate to have paid off your student loans, I know you'll find a lot of actionable insight from our conversation.

[su_note note_color="#028000 " text_color="#ffffff " radius="5"] Need help staying on top of your student loans? You'll love Travis's Student Loan Calculator designed to help you pay off debt faster. Click here to get access. [/su_note]

Here are a few things you'll discover in today's episode:

How Travis got into helping others with their student loan debt (hint: it involves his significant other)
How being featured in Business Insider skyrocketed his career.
What he's learned from advising over 82 million in student loan debt collectively amongst his clients.
Practical ways anyone can save money to help pay off their student loans faster.

And much more.

This Episode Was Brought To You By...

Full disclosure -- If you move forward with this goes to help me continue making the Start Your Dental Practice podcast the best podcast and resource for dental practice owners.

Free Episode Bonus

A special thanks for Travis coming on the show. Chances are good, you may need a hand with your student loan debt.

While many choose to "worry about it later" as Travis shows, taking action now can save you a ton of time and headaches later down the road.

Travis obviously knows what he's doing, having helped hundreds of people pay down their debt and as a bonus for today, he's offered his incredibly popular student loan debt calculator which helps you get clear on how to pay your debt off.

I spent some time playing around with it, and it's fantastic.

Click here to access bonus.

Quote:

Being debt free is incredibly powerful psychologically - Travis Hornsby

Resources:

Student Loan Planner

Support The Show:

Without you, Ambitious Dentists, this show wouldn't exist.

If you enjoyed today's episode, please go here to give the show an honest rating and review in iTunes.

This allows me to evolve the show as it goes on, and also helps spread the word to other podcast listeners since iTunes promotes shows with active engagement.

How To Create, Organize, And Automate Your In-House Dental Practice Membership Plan With Jordan Comstock Jun 21, 2017

Show notes

According to recent statistics, 55% of American's don't have dental insurance. And if your practice is only serving the 45% of patients that do, you're leaving a ton of money (and profit) on the table.

One way to serve those without insurance is to offer an in-house membership plan, but when done improperly, it can often be more of a headache than a plus.

Fortunately, there's a method to the madness when it comes to in-house membership plans, which is why I'm excited to have today's guest Jordon Comstock on the show. Jordon is the founder of BoomCloud a membership plan software that helps you focus on what matters.

If Jordon's name sounds familiar, you may have heard Jordon and his partner Ben have me on the Navigating Dental Insurance podcast in which discussed dental insurance.

What I love about Jordon's story is how he created a software based on his own needs, and in our conversation, we discuss in-house membership plans in depth.

Here are a few things you'll discover in today's episode

How Jordan got involved in the dental industry.
The biggest problems most practices face who have in-house membership plans.
Why Jordan's love of technology and dentistry allowed him to create a product that dentists need.
The many benefits of recurring revenue and why that should be a focus.
What Jordon learned from developing and testing his software and how it applies to growing your own dental practice.

And much more.This Episode Was Brought To You By...

Full disclosure -- If you move forward with this goes to help me continue making the Start Your Dental Practice podcast the best podcast and resource for dental practice owners.

Free Episode Bonus:

A special thanks to Jordon for coming on the show.

Whether you already have an in-house membership plan or are considering adding one to your practice, knowing what mistakes to avoid can help save you both time and money.

As Jordan mentions, staying organized is one of the key factors in having a successful membership plan. Don't be that person keeping everything in a google doc.

For a bonus today, Jordan has offered his free membership plan ebook which walks you through the dos and dont's of membership plans.

Trust me, just by doing one or two of his suggestions will save you a ton of headaches in the future.

Also be sure to request a demo with Jordon and his team at BoomCloud if it's something you might be interested in.

Click here to access bonus.

Resources:

BoomCloud Dental Membership Software

Support The Show:

Without you, Ambitious Dentists, this show wouldn't exist.

If you enjoyed today's episode, please go here to give the show an honest rating and review in iTunes.

This allows me to evolve the show as it goes on, and also helps spread the word to other podcast listeners since iTunes promotes shows with active engagement.

Mastering The Art of Dental Insurance, Negotiation, And Carrier Relationship Management With Harold Gornbein Jun 15, 2017

Show notes

As technology continues to transform the dental industry, the world of insurance and credentialing has become increasingly complex. As a result, dentists are spending more and more of their valuable time trying to figure things out.

And if we're being honest, most dentists don't exactly get excited about dealing with insurance and properly codifying their services.

Which is why I'm so excited about today's SYDP guest Harold Gornbein, Harold is the founder of Apex Reimbursement Specialists, which helps put money back in dentists pockets and saves tons of the time in the process.

With over 20 + years of dealing with insurance, Harold knows exactly what it takes to give dentists the winning edge. I think you'll enjoy his refreshingly honest take on the world of insurance and negotiation.

[su_note note_color="#028000 " text_color="#ffffff " radius="5"] Want to learn more about negotiation? Check out Harold's super helpful 5 Steps To Negotiating PPOs Guide here. [/su_note]

Here are a few things you'll discover in today's episode:

How to get the most reimbursements back from insurance companies.
The mistakes most dental practices make that can cost your practice tens of thousands of dollars.
The proper way to codify your services, and why it's so important.
How to put money back into your practice have it work for you.
The biggest lessons Harold has learned from dealing with insurance for over 20 years.

And much more.

This Episode Was Brought To You By...

Full disclosure -- If you move forward with this goes to help me continue making the Start Your Dental Practice podcast the best podcast and resource for dental practice owners.

Free Episode Bonus:

A special thanks to Harold coming on the show. Just making a few tweaks in how you deal with insurance and negotiations can have a lasting effect on your practice's bottom line.

As a bonus for today, Harold has shared his 5 Steps To Negotiating PPOs Guide, which is super valuable regardless if you're a new practice owner, or have been around the block a few times.

I highly suggest you take a look.

Click here to access bonus.

Quotes:

"Everyone needs to understand, the time frame for credentialing negotiations are 30-90 days." -Harold Gornbein

Resources:

Apex Reimbursement

Support The Show:

Without you, Ambitious Dentists, this show wouldn't exist.

If you enjoyed today's episode, please go here to give the show an honest rating and review in iTunes.

This allows me to evolve the show as it goes on, and also helps spread the word to other podcast listeners since iTunes promotes shows with active engagement.

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