POPULARITY
23 episodes with ppos
10 episodes with ppos
7 episodes with ppos
8 episodes with ppos
5 episodes with ppos
5 episodes with ppos
5 episodes with ppos
8 episodes with ppos
3 episodes with ppos
You became a dentist for the freedom it provides. But PPOs are putting a chokehold on that freedom! In this episode of Clinical Edge Fridays, Kirk Behrendt brings back Dr. Barrett Straub, ACT's CEO, to do a deep dive into how you can break free from PPOs for a better practice and better life. They share the tools you can use, what steps to take, and how to choose which PPOs to strategically drop first. If you're ready to reclaim your freedom, listen to Episode 912 of The Best Practices Show!Learn More About Dr. Straub:Send Dr. Straub an email: barrett@actdental.com Join Dr. Straub on Facebook: https://www.facebook.com/barrett.d.straubSend Gina an email to learn more about ACT: gina@actdental.com Send Courtney an email to learn more about ACT: courtney@actdental.com More Helpful Links for a Better Practice & a Better Life:Subscribe to The Best Practices Show: https://the-best-practices-show.captivate.fm/listenJoin The Best Practices Association: https://www.actdental.com/bpaDownload ACT's BPA app on the Apple App Store: https://apps.apple.com/us/app/best-practices-association/id6738960360Download ACT's BPA app on the Google Play Store: https://play.google.com/store/apps/details?id=com.actdental.join&hl=en_USJoin ACT's To The Top Study Club: https://www.actdental.com/tttGet The Best Practices Magazine for free: https://www.actdental.com/magazinePlease leave us a review on the podcast: https://podcasts.apple.com/us/podcast/the-best-practices-show-with-kirk-behrendt/id1223838218Episode Resources:Watch the video version of Episode 912: https://www.youtube.com/@actdental/videosRegister for ACT's To The Top Study Club (July 18th, 2025): https://www.eventbrite.com/e/climb-with-us-register-for-july-18-2025-ttt-study-club-tickets-1205460116659Register for ACT's To The Top Study Club (July 25, 2025): https://www.eventbrite.com/e/climb-with-us-register-for-july-25-2025-ttt-study-club-tickets-1205497959849Main Takeaways:You give patients treatment plans before doing dentistry. Do the same for your practice.It doesn't have to be all or none with PPOs. Determine what's the right mix for you.Understand
Are PPOs quietly undermining your dental practice's long-term value? In this episode of the Less Insurance Dependence Podcast, host Michael Walker speaks with Brian Colao, Director of the Dykema DSO Industry Group and a leading expert in dental law and transition strategy. Brian explains how rising operational costs, combined with stagnant insurance reimbursements, can gradually erode your practice's profitability and ultimately impact its valuation. Book your free marketing strategy meeting with Ekwa at your convenience. Plus, at the end of the session, get a free analysis report to find out where your practice stands online. It's our gift to you! https://www.lessinsurancedependence.com/marketing-strategy-meeting/ If you're looking to boost your case acceptance rates and enhance patient communication, you can schedule a Coaching Strategy Meeting with Gary Takacs. With his experience in helping practices thrive, Gary will work with you on personalized coaching, ensuring you and your team are prepared to present treatment plans confidently, offer financing options, and communicate the value of essential dental services. https://www.lessinsurancedependence.com/csm/
Dr. Snyder discusses common financial leaks in dental practices, emphasizing the need for dentists to track and address these issues. He highlights significant losses from PPO write-offs, missed appointments, and unscheduled treatments, estimating annual losses in the six figures. He advises dentists to focus on profit retention, train staff to improve communication and follow-up, and consider dropping PPOs if they're detrimental. He also stresses the importance of weekly audits and tracking to identify and fix these leaks. Listen in!Thank You for enjoying this episode of Delusional: Winning the Weekly War of DentistryRESOURCES:Learn more about LEGIONSubscribe to DELUSIONAL: Winning The Weekly War PodcastWrite a Review on iTunes
Unlocking better insurance reimbursements isn't about luck—it's about knowing the rules of the PPO game and playing to win!In this episode, we sit down with Dana Moss, an expert in PPO insurance allowables, to reveal the negotiation secrets that empowered her (and countless dental practices) to dramatically boost revenue. Dana's hands-on approach, honed over two decades of successfully managing and negotiating on behalf of dental offices, proves that with the right tactics, dentists can finally take control of their income streams.From demystifying negotiation timelines with major players like Delta Dental and MetLife, to understanding how to use percentile data and savvy step-by-step processes, Dana guides you through the strategies that work in today's PPO landscape. This conversation is packed with advice—covering fee balancing, building genuine relationships with insurance reps, and handling stalled negotiations—along with practical guidance on how even small practices can take a DIY approach. If maximizing PPO revenue and navigating insurance with confidence are your goals, this episode is your roadmap!What You'll Learn in This Episode:Why negotiating PPO allowables is non-negotiable for increased practice revenueHow to strategically time and approach negotiations with major PPOsProven tactics for fee balancing and setting competitive office feesHow percentile data can inform smarter out-of-network UCR feesStep-by-step processes for successful, organized negotiationHandling pushback: what to do when insurance companies refuseThe right (and wrong) way to leverage your network participationBuilding strong relationships with insurance reps for better outcomesDIY negotiation resources and tips for practices of every sizeKey principles for long-term, profitable PPO participationListen now and discover how you can take charge of your practice's PPO negotiations for lasting financial growth.Sponsors:CareStack: Modern, Secure, Cloud-Based Dental Software for Growing Your Practice! With state-of-the-art features including Online Appointments, Integrated Payments, Text Reminders and more. Click the link here for a special offer: thedentalmarketer.lpages.co/carestackGuest: Dana MossBusiness Name: PPO Dental ConsultingCheck out Dana's Media:Website: ppodentalconsulting.comEmail: dana@ppodentalconsulting.comWant the PPO Negotiation Kickstart Kit? Send this episode to 1 friend, screenshot it, and send it to Michael at: @thedentalmarketer, michael@thedentalmarketer.site, or in our Facebook group!Love the Podcast? Let Us Know How We're Doing on Apple Podcasts!Host: Michael AriasWebsite: The Dental Marketer Join my newsletter: https://thedentalmarketer.lpages.co/newsletter/Join this podcast's Facebook Group: The Dental Marketer SocietyPlease don't forget to share with us on Instagram when you are listening to the podcast AND if you are really wanting to show us love, then please leave a 5 star review on iTunes! [Click here to leave a review on iTunes]p.s. Some links are affiliate links, which means that if you choose to make a purchase, I will earn a commission. This commission comes at no additional cost to you. Please understand that we have experience with these products/companies, and I recommend them because they are helpful and useful, not because of the small commissions we make if you decide to buy something. Please do not spend any money unless you feel you need them or that they will help you with your goals.
In today's episode, Dr. Killeen dives into one of the trickiest parts of running a dental practice—PPO decisions and revenue cycle management. He shares hard-earned lessons from his own experience, including why negotiating up to the 95th percentile made a big financial difference. You'll also get tips on setting up systems for insurance claims, benefit verification, and improving collections. Whether you're launching a startup or tightening up an established office, this episode is packed with practical advice to help you keep more of what you earn. https://www.addisonkilleen.com/events/
In this episode of the Less Insurance Dependence Podcast, co-host Michael Walker welcomes Dr. Brad Hughes, a dentist and purpose-driven entrepreneur, for an insightful conversation on building practices that thrive without relying on PPOs. Dr. Hughes opens up about the mindset shifts that helped him move from burnout to fulfillment. He highlights the importance of building a brand rooted in authenticity, creating a team-driven patient experience, and gaining clarity around your business vision. Whether you're taking your first steps toward reducing insurance dependence or refining an established fee-for-service model, this episode offers practical strategies and powerful perspectives to help you lead your practice with clarity, confidence, and purpose. Book your free marketing strategy meeting with Ekwa at your convenience. Plus, at the end of the session, get a free analysis report to find out where your practice stands online. It's our gift to you! https://www.lessinsurancedependence.com/marketing-strategy-meeting/ If you're looking to boost your case acceptance rates and enhance patient communication, you can schedule a Coaching Strategy Meeting with Gary Takacs. With his experience in helping practices thrive, Gary will work with you on personalized coaching, ensuring you and your team are prepared to present treatment plans confidently, offer financing options, and communicate the value of essential dental services. https://www.lessinsurancedependence.com/csm/
Rethinking PPOs: How High-Performance Networks Deliver Value | ShiftShapersIn this episode of ShiftShapers, host David A. Saltzman sits down with Scott Smith, founder and CEO of Logro Network, to discuss a revolution in health plan design: the nationally curated high-performance network. Scott unpacks the origins of PPOs, why the old “discount everything” approach is broken, and how a focus on total value—cost, quality, and outcomes—can transform employer health plans. You'll learn how Logro Network uses massive data sets and provider scoring to give members more choice and better information, all while helping plans rein in costs and fulfill their fiduciary duty.
Dr. Brett Kessler: From Recovery to a Thriving, Insurance-Free Practice American Dental Association (ADA) President Dr. Brett Kessler shares how personal transformation led him to build a fee-for-service practice grounded in purpose, vision, and patient trust. Discover how slowing down, building relationships, and leading with intention can bring more joy and greater success—to your dental career. A must-listen for any dentist ready to move beyond PPOs. Book your free marketing strategy meeting with Ekwa at your convenience. Plus, at the end of the session, get a free analysis report to find out where your practice stands online. It's our gift to you! https://www.lessinsurancedependence.com/marketing-strategy-meeting/ If you're looking to boost your case acceptance rates and enhance patient communication, you can schedule a Coaching Strategy Meeting with Gary Takacs. With his experience in helping practices thrive, Gary will work with you on personalized coaching, ensuring you and your team are prepared to present treatment plans confidently, offer financing options, and communicate the value of essential dental services. https://www.lessinsurancedependence.com/csm/
If you've ever felt overwhelmed by insurance red tape, staffing headaches, or the pressure to be a “do-it-all” practice—this episode is for you. In this conversation, I'm joined by Dr. Tejas Patel, a leading cosmetic dentist whose journey from multi-location burnout to solo, specialized success is one every dentist should hear. With over 2 million TikTok followers and a fully cosmetic boutique practice in Austin, Texas, Dr. Patel has redefined what's possible when you combine smart systems, social media, and staying true to your passion. We talk about everything from patient acquisition through viral video, to the growing demand for natural-looking veneers, and why he shut down two thriving offices to go all-in on what he loved most. You'll also learn about the Veneer Blueprint Course, his online CE-accredited training that helps dentists confidently master cosmetic cases—from preparation to marketing. Whether you're cosmetic-curious or ready to pivot your practice, this episode delivers. Here are just a few of the important and eye-opening topics we explored: The Power of Focus: Why simplifying your procedures and practice model could be the secret to long-term success. Social Media as Strategy: How Dr. Patel leverages TikTok and Instagram to attract out-of-state veneer patients—daily. From Insurance to Independence: What it really takes to transition away from PPOs and build a fee-for-service model. What Patients Want Now: A look into the latest veneer trends—think natural, undetectable, and confidence-boosting. Teaching with Transparency: Why Dr. Patel built a step-by-step veneer course (with live procedure footage, checklists, and marketing tips) to help others get the same results. — Key Takeaways 00:42 Welcome + Event Reminder 02:37 Meet Dr. Tejas Patel 04:37 The TikTok Journey 12:52 Trends in Cosmetic Dentistry 16:56 From Burnout to Boutique 20:44 Building a Streamlined Practice 22:27 Inside the Veneer Blueprint Course 29:20 Vision for Cosmetic Education 31:12 Lightning Round Q&A — Connect with Dr. Tejas Patel: Instagram (Main): @tejaspateldds Instagram (Courses): @veneertraining Veneer Course Info: drtejaspatel.podia.com — Learn proven dental marketing strategies and online reputation management techniques at DrLenTau.com. This podcast is sponsored by Dental Intelligence. Learn more here. This podcast is sponsored by The Doc Sites, the leading provider of websites and online marketing for dentists. Find out more here. Raving Patients Podcast is your go-to place for the latest and best dental marketing strategies that will help you skyrocket your practice. Follow us for more!
Have you ever wondered how the insurance plans you accept today could make or break the sale of your dental practice someday? In this powerful episode, Michael Walker sits down with Kim McCleskey and Kyle Francis from Professional Transition Strategies to uncover how your current insurance participation, especially with PPO plans, can dramatically affect the value and marketability of your dental practice. Kim and Kyle share real-world stories, actionable advice, and clear steps for dentists who are planning a future transition or simply want to strengthen their financial foundation. They discuss common misconceptions about reimbursement rates, the role of insurance in buyer interest, and how to begin making smart, strategic changes. Book your free marketing strategy meeting with Ekwa at your convenience. Plus, at the end of the session, get a free analysis report to find out where your practice stands online. It's our gift to you! https://www.lessinsurancedependence.com/marketing-strategy-meeting/ If you're looking to boost your case acceptance rates and enhance patient communication, you can schedule a Coaching Strategy Meeting with Gary Takacs. With his experience in helping practices thrive, Gary will work with you on personalized coaching, ensuring you and your team are prepared to present treatment plans confidently, offer financing options, and communicate the value of essential dental services. https://www.lessinsurancedependence.com/csm/
Fred Heppner of Arizona Transitions is back for part 2 of his chat with Kiera! Life comes at you fast, and sometimes, it comes in the form of a surprise. Kiera and Fred talk about creating an exit strategy today for your departure from dentistry, as well as what the economics look like for moving on from a practice. Episode resources: Subscribe to The Dental A-Team podcast Schedule a Practice Assessment Leave us a review Transcript Kiera Dent (00:01) Hello, Dental A Team listeners. This is Kiera and I am so excited for you to have part two of me and Fred Heppner going through associates, DSOs, how to really grow this. You guys, we had such an incredible first half of this episode. It was so long and so much information that I wanted to break it into two parts. So here's part two. I hope you enjoy. And as always, thanks for listening. I'll catch you next time on the Dental A Team podcast. Kiera Dent (00:24) should people be talking when they're in their 20s 30s or is it something we're like start to think about it I know Ryan and I from Dentist advisors we we talk shop about this quite often of like there I mean there are studies that show that when you retire you actually start to atrophy in life and ⁓ there isn't as much of a purpose and so we talk often of like how can we continue that mental stamina, the things that are going to fulfill us, whether it's working or something else of philanthropy, like whatever is going to keep you going as a human, whether you're working in the chair or you're not, I think is important. So that's I was curious of like, really probably connecting with you three to five years before we think we might retire, but with the caveat of, hey, if something were to happen to me, what would kind of be my exit strategy? your like death list like I do, like if I die, this is what's going to happen. It's creepy, but it's awesome. Fred Heppner (01:15) No, it's, it's creepy and it is awesome. And at the same time, it's a really good conversation to have because if we're three to five years out, then one of the first things to do is say, okay, so what's going to happen if you're not here? And that carries on to the discussion we had earlier. So once the discussion about, what do want to do when you, when you retire or you stop practicing dentistry, then the questions start coming up. What about the economics? Kiera Dent (01:27) Mm-hmm. Fred Heppner (01:44) So in any... Yep, absolutely. Kiera Dent (01:44) I was just going to say, like, is it sell? Is it DSO? it? And also, I mean, this to me also, I think might exponentially accelerate some people's plans because the DSOs are hot and it's like 10x EBITDA. That might accelerate your retirement or your sell because you're on a wave right now that who knows if in the next 20, 30, 40 years we'll be there. Fred, I'm super curious, like, how is this whole DSO model maybe shifting it for transitions? Or is it? I'm curious. Fred Heppner (02:13) It is, it's shifted quite a bit, but what it's shifted is a real desire for dentists to be able to sell their businesses and release the management responsibility and to have somebody else take that over. 15, 20. Yeah. I just want to do, I just want to do dentistry. I don't want to manage a business. I don't want to manage people. Um, I don't want to run the company. I want to be able to practice my trade. Well, Kiera Dent (02:22) you The dream for every business owner. ⁓ Exactly. Fred Heppner (02:43) I can tell you that in the last 15, 20 years, it's certainly exploded in dentistry and not in a bad way. And here's why. Dentists graduating from dental school today need a place to work. The banks that loan money to dentists to buy dental practices are looking for dentists that have a couple years experience in dentistry. They have a production track record. The banks can see what it is that the dentist can do. Chair aside. a good credit score and some liquidity, usually 8 to 10 % of the purchase price of the business that they're looking at in cash. So one of the things to consider is graduating dentists should be able to make the minimum payments on their debt, on their student loans, on what debt they have, and begin to put money away as quickly as possible to gain some liquidity. So as we look at the equation of what DSOs are doing, they're providing them with a place to work. Because as dentists come out, I mean, the majority of dental practices that I work with, maybe you can echo this or discuss it, are just single dentist practices. Right, they don't have a, somebody called it a plus one at some point time, and I thought, okay, that's decent. So you have the dentistry, but there's the ability to bring somebody on maybe one or two days a week. Well, that doesn't, Kiera Dent (03:44) Mm-hmm. Totally same. Mm-hmm. Fred Heppner (04:09) That doesn't feed a hungry young dentist coming out of dental school who really has a lot of debt and wants to begin to work and develop a way to reduce that debt. They're looking for four days a week, five. They might have a quality of life thing where they just want to work three tens and be off Friday, Saturday, Sunday, Monday. That's okay. But the point is, is that most private practices don't have the capacity to be able to bring on a full-time dentist and feed them right away and keep them very busy. The DSOs, corporate dentistry, Kiera Dent (04:19) Right. Fred Heppner (04:39) have offices that can provide that place. So essentially, if a dentist comes out of school and begins to work, they may very well work for one of the corporate DSOs, which gives them experience. It gives them the ability to work five days a week. It gives them the ability to practice in what I call civilian dentistry out of dental school. And it gives them the opportunity to be able to see what it's really like. I can tell you, Kiera, that 15, I think 15 years ago, Kiera Dent (04:57) Mm-hmm. Fred Heppner (05:08) the most popular phone call I would get on my phone line was, hey, we just got 50 million from a private equity firm. We're starting a DSO, but we're different. And we want to buy practices from you because we heard you're good. And I just tell them, great, thanks very much. Get in line, register on my website. And when an opportunity comes up, I will email to you like I do everybody else the opportunity. Because most of my clients call and say, I... Kiera Dent (05:17) you Fred Heppner (05:34) Hard no to a DSO. I'm a private practitioner. I've got a legacy practice and I want to sell to another private dentist Okay, so that was the most popular second most popular call was I'm sick of working for a company find me a practice to buy Now it's shifted More so do I hear I'm sick of working for somebody else find me a private practice to buy I'm ready to go The the DSO calls have filtered off of it and I don't know that that's a global Kiera Dent (05:48) Mm-hmm. ⁓ Mm-hmm. Fred Heppner (06:03) representation of the DSOs starting to slow their buying and really focus on the profitability of the offices they have to really maintain the profitability due to higher interest rates. Maybe they're slowing down their buying. Who knows? The interesting thing about it is that it's somewhat of a closed loop in DSO work. You really can't get into and find out exactly what everybody is doing unless you're member of their organizations, which is fine. And I respect that. Kiera Dent (06:12) Yeah. Fred Heppner (06:32) private information, but it begs the question. And ultimately, if a dentist is looking to buy their own practice, eventually they're going to need those one to two years experience, liquidity, good credit score, in order for them to go to one of the commercial banks and say, I want to buy a practice and let me get a practice to buy and then we'll put it together. Okay? So I can tell you that private practice is alive and well. Kiera Dent (06:55) Mm-hmm. Fred Heppner (07:02) very bullish on the individual dentist who's out there still practicing and doing quite well. I can also tell you that those kinds of doctor to doctor transitions are extremely successful. The idea is some people who look at a transition like that would think, my gosh, the dentist leaves, all the patients will leave. They'll go somewhere else, they'll go to other practices. Well, if that was true, let's carry that forward. If that was true, Kiera Dent (07:14) Mm-hmm. No. Fred Heppner (07:28) then that would mean that the loans that the dentist used to buy the practice would go in default, would they not? Because if all the patients left, there would be no revenue and they'd have to fold up camp and see you later, right? The default rate on dental practice loans still over the last 15, 20 years and even recently is 40 basis points. 100 basis points is 1%. 40 basis points is four tenths of 1%. So if you follow the math, Kiera Dent (07:33) Mm-hmm. Mm-hmm. Fred Heppner (07:58) The default rate is less than half of 1 % on the billions of dollars that are loaned by banks for dentists to buy practices. They don't fail. Okay. Kiera Dent (08:08) Totally. They don't and they're such a good investment. I think that that's why so many people like, that's why I think DSOs are buying up practices. ⁓ And I think that that's where so many private practice owners now, I would say I've watched where it used to be legacy practices and there's still legacy practice doctors who do not want to sell to a DSO. Like when they're there, they want to sell doctor to doctor, they want to bring in an associate, they want to bring in partners. I think By default, dentistry tends to be a more humanistic, ⁓ very relationship model ⁓ versus I still think though, right now DSOs, you're right. I don't think people are getting as many calls. ⁓ But what I will say is my doctors are probably getting 20 to 30 emails every month from a DSO interested in buying their practice. So they are getting it as private practice owners. And so I think that that's where, ⁓ like I said, some people within the last eight years bought a practice as a private practice. the DSOs, they were profitable. were within the metrics that the DSO wanted. And it just made sense. was like, I'm going to get 10x EBITDA on this. My EBITDA is great. No private party is going to pay me what this DSO is going to pay me. And while yes, I'd love it to maintain a legacy practice, I'm in my 30s and I could basically have retirement today. mean, there's more risk selling out because they have a lot of it in their stocks and there's a whole ⁓ game around that. I think that that's where maybe some of the younger generation might be looking at transitions sooner than I think the more senior population of dentistry is. think that they're starting to be the shift and that's where I'm very curious of like, maybe conversations need to be had sooner. Maybe because DSOs are aggressive on the emails to the dentist. Like it is wild and they are sexy offers to them that are not always true. And that creeps me out too, because they're hearing a number. Like I had a doctor and he had a DSO. Fred Heppner (09:49) Yep. Yep. Kiera Dent (10:04) come to him and they said, Hey, we're going to give you 5 million. And he's like, here, it seems like a great deal. And I said, yeah, but you're going to do 5 million next year just in your own production. So that's actually a bad deal because you're already going to make that without selling to them and having to work for them for the next five to 10 years or like three to five is usually what their requirement is. So again, I think that this is where it's like, how do we cut through that noise to know when I do transition? Because I think people are getting asked to transition from private practice. sooner. You're right, they go work at the DSO, they go to some of those bigger corporate practices to get the experience, then they go buy their private practice, and then it really is, or they do a startup. And then it's pretty aggressive because I think Wall Street's pretty hot right now and private equity is very, very luring, but they do have to hit certain requirements to join DSOs. Fred Heppner (10:53) Yeah. There are tons of verticals that people are getting into, the private equity is getting into, you're right. There's a ton of money at it. You know, I would tell you that the devil is in the details. It may very well be that there are transitions that occur where a DSO or a corporation acquires the assets of a private practice and the dentist stays and works back in the office. And that transition works swimmingly well for the dentist who sells for the DSO. Kiera Dent (11:02) Mm-hmm. Fred Heppner (11:21) And ultimately everything works out fine. There are others that don't and they're, they're out there. And I think what you mentioned earlier is, you know, I could get 5 million from my practice. Well, why would you, you will be able to make that in, your earnings in 2.3 years, whatever it might be, whatever the math pencils that be. But if you think about it, if it, if 10 times EBITDA is their offering price, what are, what are the details? How much cash at closing? Kiera Dent (11:38) Right. Mm-hmm. Fred Heppner (11:49) Is there a work back or a work back arrangement where you will be paid to be the dentist? And what is your compensation? What are the benefits that you would receive? And what is the term of that work back arrangement? You're right. It's creeping up now more into five years. 15, 20 years ago, was maybe, you know, stay on one or two years and we're good. There's a claw back. There's a hold back provision that holds back part of the purchase price. And the dentist has to meet the Kiera Dent (12:04) Mm-hmm. Yeah. Fred Heppner (12:17) has to meet certain metrics from the trailing 12 months to be able to get that back. Well, let's pretend. Let's pretend that the DSO comes in and sets up the practice and nothing changes and the business continues to grow and develop because there's more marketing promotion and advertising. There's better cost control. There's just better stuff going on and that works. Well, what if it doesn't? What if all of a sudden the company comes in and says, we're changing these policies? You were Delta Dental Premier, we're jumping into PPOs because we've got really good reimbursement rates on these 12 PPO contracts. Well, if that reimbursement rate drops from fee for service, does that hinder the doctor to be able to generate the income necessary for that hold back to be acquired in the next two to three years? And then there's equity. You mentioned that they offer a stock in the company to be able to ultimately participate in a Kiera Dent (13:09) Mm-hmm. Fred Heppner (13:15) recapitalization should that happen? Well, it'd be really interesting. You're going to love this one. I know you're going to love this one. So for any of your listeners, any of your A-Team clients, if they get approached by a DSO and they look at it and they think it's really, really good, have somebody look at it. What you will hear typically is you really don't need an advisor. You don't need an attorney. We've got all the contracts ready to go. You can come. Kiera Dent (13:35) Mm-hmm. Lies. Lies. Fred Heppner (13:44) Exactly. You can just take all of this and we'll be good. Well, trust but verify. And ultimately a good team would be able to review these. I would be glad to review. I review paperwork all the time from dentists that are looking to transition. And if there's an equity piece in that offer, I turn around and contact the DSO on behalf of the client. And I say, we'd like to see your financials. Kiera Dent (14:08) Absolutely. Fred Heppner (14:11) What do you mean? Well, you're asking my client to acquire stock in your company in lieu of cash at closing. yeah, that's part of the deal. I need to see your financials. I need to advise my client on whether or not you have a healthy company and whether or not my client's going to be at risk by taking stock in your company. Well, nobody's ever asked us that. Well, I am. And doesn't it make sense? We've just provided to you tax returns, profit and loss statements, but sing along if you know the words, balance sheets, W-2, production reports, everything on the business. Kiera Dent (14:21) Yeah. things. Mm-hmm. Fred Heppner (14:39) And yet you're not willing to provide the other. Just provide the other. Show us that your business is solvent. Show it that it is something that my client would like to receive in stock. So, mon bro. Kiera Dent (14:50) And there's strategy for tax around that too. there are benefits to having stock rather than all the cash at closing for your total dollar amount when you want to retire, but only if that stock actually is valuable. Fred Heppner (15:05) Pays back. Correct. Good. And that is so brilliant. You see, you're good looking, you're smart, and that's a rare combination today. So, so, but think about it. You just mentioned something that people really don't think. If, if I have a practice and they give me 1.5 million chopped up into the ways that we've mentioned, and I have $200,000 worth of equity in the company, what if that $200,000 is half of 1 %? Well, when they recapitalize, I get half of 1 % of what proceeds, right? Kiera Dent (15:09) Thank you. Mm-hmm. I love it. It's such a... Fred Heppner (15:35) So map it out. Yeah, map it out. mean, can you sell your practice twice? sometimes yes, sometimes no. Kiera Dent (15:43) And there's so many sticky pieces around it. And that's where I feel like it's just a, think this is where people get leery to do it. However, I think like there are some, you said, that go really, really well, but agreed. And when I look at this people like Kiera, like I thought about that doctor and I was like, so sweet. You're going to five mil. That's your 10 X. You're going to produce 5 million. Your overhead right now is sitting at a 50 % overhead. So right now you're taking 2.5. Let's say you do get a $5 million check. you give me 10 taxes, it's barely over your 2.5, which you're already going to get next year. So like, yes, next year, you still have to pay taxes because you're at a 50 % overhead. So you will still get a small amount more of cash to you. But there's a lot of strategy that goes into that 2.5, pending upon what you need when you invest that, like for every million, it's about like on average, if it's in the stock market, about 35,000 right now is like a very, very, very loose number to like estimate your financial future. But I'm like, you throw 2.5 into the stock market right now, we'll high five, you're making about 100K a year. Like that's just to me, those are the things that I feel you need to be really smart about to make sure that your practices are assets and not liabilities and something that really will provide the retirement for the work you've put in rather than it just feeling good in the moment, but not really giving the life you want. Fred Heppner (16:59) You know, excellent point. And what you also said earlier, just in passing was, what dentists could buy my practice. can't sell to a private dentist. I've got to sell to a DSO. ⁓ surprise, surprise. That's a myth. There are dentists who would, I can tell you right now, if you could give me your client's number, I'll buy her practice. Well, yeah, well, I mean, that's gonna, that's gonna pencil. So the, the point that I would make is know that Kiera Dent (17:12) It is a myth. Right? I know, me too. I'm like, actually, actually I would. Fred Heppner (17:29) Dentists that are out there who are looking to buy really profitable practices and can meet the production goals. So there's an important aspect there. Your client's doing two and a half million in profit, five million in productivity on her own. If a person coming in to buy that won't be able to quite meet those production numbers, they may hire the client back for a year or two. The bank may want them to make sure that there's some kind of arrangement where they have some help. But if a bank is looking at a practice that has that kind of liquidity and profitability, they'll gladly loan the money to the dentist if other measures are there because they know it's going to be paid back. So I want to dispel the myth that big practices with large productivity and big profitability are excluded from private practitioners being able to buy them. It's not true. Is it? Yeah. Kiera Dent (18:10) Mm-hmm. I agree. They get nervous because of the debt, but I have somebody that I know that just bought into a $2.5 million is how much they had to bring to the table. Plus they have their student loan debt, plus they have their house debt and they were able to do it to buy into a practice. so I'm like, I think let's not assume that that's the only route. think figure out what you want and there is a buyer based on the outcome you want. I think Fred, I want to switch gears because I want to ask some questions about associates. because I think we've kind of gone through like private practice. There's so many things like make sure you're taken care of, make sure you know where you're going. But now I want to switch gears because I think this is something I get asked all the time. And so selfishly again, welcome to curious therapy with Fred. I want to know all the pieces. This is my podcast that you get to be a part of. No, it's for all of you. ⁓ we get asked often, how do you set up a great associate buy-in? So like, how do I buy these people and how do I tether them in? I think one of the greatest, I would say Fred Heppner (19:06) I'm listening. Kiera Dent (19:19) stressors and like blind spots in practices and the thing that can really hurt a practice is when they have an associate that associate leaving. ⁓ And so they want to like golden handcuff these associates, but they want it to be good for both parties. What are some of those associate transitions to retain associates to get them in as partners? Is it a good idea? Is it not a good idea? And I think like we can wrap on this because I, I'm super curious of like what you recommend to help with that transition. Fred Heppner (19:45) The capacity for the business volume has to be there. You've got to have, not only are you working, but there's this phantom practice out there that you can't get to as the provider. And you need somebody to be able to get to that. So bringing on an associate to get to that phantom practice immediately creates incremental income, which is, to the owner of the business, very liquid. Kiera Dent (20:03) Mm-hmm. Fred Heppner (20:07) The cost associated with treating extra people during the course of the day is the associate's compensation and variable cost supplies in lab. And if you're ⁓ providing can-to-can technology and your lab costs are very low, but you're producing crowns in a day, for example, and using that kind of technology, then the cost associated with treating every incremental patient and creating that revenue is very low. we're suggesting that the team in place can handle the extra work. We don't have to hire an extra assistant or hire an extra administrative person. So given those things. ⁓ One of the best transition plans, in my opinion, is one that has time built into it. The associate has to develop some traction. They have to generate some productivity. They have to show that they can produce the numbers. But more importantly, the outcomes are good. The treatment outcomes are successful. The patients are adapting to them. The team connects with them. This is a good relationship. As an aside, really quick, when you mention relationship business in dentistry, I think DSOs traditionally are a transactional business. They're really focusing on the transaction, right? Private practice focuses on the relationship. Not to say that corporate dentistry doesn't focus on relationships. They're focused more so on the transactions. I might get ridiculed for that statement, but that's what I see. And that's my opinion. Kiera Dent (21:19) I would agree. Sure, sure. Fred Heppner (21:36) So back to the associate, need the associate to develop some traction. And essentially that traction comes from being in the office, seeing patients, working with the team, and ultimately getting feedback along the way. And I think that's a one to two year cycle. Will you know as a practitioner and owner of the business within the first one or two months, if the associate is working two or three days a week or four days a week, will you know, do they get along with the patients? Do they get along with the team? Yes. Will you know about treatment outcomes? Kiera Dent (21:40) Mm-hmm. Fred Heppner (22:05) To some degree, yes. So early on, you'll know if this is cut bait, this is not going to work. Or yes, this person's fitting in great, primarily because they were vetted. So quick, quick retract back to how do you hire them? Go through a long process of vetting. Don't just take the first one that appears. Get to know them, make sure they're going to integrate well. I see a lot of associate plans. work real well when the dentist knows the dentist owner knows the associate coming on board from some past experience. Great example is the dentist associate grew up in town, did an internship kind of in the office as a sterilization tech, kind of worked in the office, found out that dentistry was their passion, went to college for undergrad, went to dental school for dental degree and came back to the town to work for that dentist. Right. Okay, good. So somebody you know, ⁓ Kiera Dent (22:38) Mm-hmm. Totally. Fred Heppner (23:00) son of doctor, owner's best friend. So there's history there. You know, the quality of the individual. Okay. So once traction is developed during the part of that associate agreement, there's some discussion about ownership and building an understanding of how the practice works so that when time comes to be a partner and buy in, there's already some traction. There's already some traction so that if the person elects to buy the seller out, in a couple years, then they can switch roles. But there has to be some traction. One of the things that's really perilous is thinking about jumping into a practice and being a partner right away. If you want to practice and you do two million a year, hygiene does 500, you do 1.5. I'm going to come in and I want to be a partner of yours today because I've heard how great your practice is. And you have the physical plant capacity, you have the patient capacity, and I can step right in. If I pay you half of the value of your practice today to buy in, we can split up the medicine and supplies and drugs. can split up the equipment. We can split up the office equipment. ⁓ we can split up all the operatories, but how do we sort out the patients? Because come Monday morning, say we close tomorrow, Friday, come Monday morning, I need to have in my schedule, the ability to generate half of the revenue in the business so that I can pay myself and I can pay. to having bought in. that make sense? And that doesn't really happen easily when somebody just freshly wants to buy in as a partner. So fast forwarding to partnerships, which I hope we get a chance to talk a little bit about today, that associate has to be in that process, in that business for a period of time. And that traction needs to get up so that they've got productivity under their belt. And again, going back to what we talked about about banks, Kiera Dent (24:32) Mm-hmm. Mm-hmm. I agree. Fred Heppner (24:59) they wanna see that that productivity is there, that they'll be able to generate it because they wanna make sure that they get the loan paid for. And a really good associate agreement has, in my opinion, good restrictive covenants, not to compete, not to solicit patients or staff. ⁓ In some states, that's not allowed. The FTC voted that associate agreements or employment agreements should not have restrictive covenants, but there's no legislation yet that has actually mandated that. Kiera Dent (25:05) Totally. Fred Heppner (25:26) So keep in mind that it's probably not appropriate to think that you'll be able to limit somebody's ability to work. Now for them to essentially buy your practice, for example, and you as a, agreement have a restrictive covenant that you will agree to that's different because somebody paid you good and valuable consideration money for you not to compete against them because they bought your business in an employment agreement. It's a little different. Kiera Dent (25:49) Mm-hmm. Great. Fred Heppner (25:56) So if a dentist comes and works for another dentist who owns the business, and after a couple of months, it's just not gonna work out, they're not gonna have enough connection with the patient base to solicit patients or solicit staff or the team. They won't. So would it matter if there was a restrictive covenant in that initial agreement? Probably not. because after a couple months, if they've alienated patients and alienated staff and they're not very good at dentistry, you want them out of there anyway, forget about the restrictive covenant, they could go work for somebody else close by. It's probably the same thing that'll happen. Kiera Dent (26:36) I think it's really wise because I think so many offices hire an associate, but they're so scared to move them along in two months. I think that was wise advice you listed. It is so much easier to move them on in two months than it is to keep them for six months, eight months, 10 months, and then realize their dentistry or their team connection or their patient connections not there. so ⁓ it's, it's be very intentional within those first 90 days and make sure that this will be a long-term fit. ⁓ You can see it in two months. Fred Heppner (27:01) So how does this, you can, I'm sure you can. How does this sound? For the first six months of an associate agreement, maybe you don't have quite a good background, deep background about that individual, but you feel that they would be good in the practice. They come recommended by their instructors at university, at dental school. was highly, someone was highly recommended. How about a single page, six month agreement that says you come to work for me, I will pay you this. And if you want to go, you can go. If I feel you need to go, I'm going to release you. It's an at will agreement, no restrictive covenants, nothing in it that locks anybody down. Because again, what I mentioned earlier is how much traction can you generate really in one or two, three, four months, because you'll know after four or five months that this is somebody really want to lock in at six months, develop a really strong, well-written attorney reviewed. employment agreement that has restrictive covenants that has specific on how to redo cases in case they need to be done at the end of the employment agreement. Right. What do you think? I mean, does that give that give the opportunity? Kiera Dent (28:08) Sure. I think, I mean, I like it. think that the devil's advocate in me would say, I'm not sure that the ⁓ millennial Gen Z generation coming through would say yes to six months. I think that they're looking for more security. They're looking for more guarantees. They come in with a lot more debt and a lot more risk that I am really curious. As a business, I think it's freaking brilliant. As on the other side, I'm curious, would you be able to get candidates that would want to come or is it too risky of an offer? Fred Heppner (28:43) You mean, yeah, do you mean the associate dentist coming on board is thinking more about themselves rather than the practice? Kiera Dent (28:52) I think with the associate offers that are given currently, ⁓ I think agreed. It does show that they're thinking about it, but I also feel for a practice making sure that they're competitive with offers. I don't love having to be ⁓ like with hygienists. I don't want to have to go chase them, but you have to at least be competitive with other people in the market. So I think I agree with you. I just feel for practices making sure that maybe Fred Heppner (29:05) ⁓ I understand what you're saying. Kiera Dent (29:19) you are so competitive with other people and offer. So you do get the candidates, but you can have some of these ideas within like that I think would make you even maybe more attractive. So maybe it's a year that we're offering, but like, Hey, in the first six months, there's no restriction. There's no nothing. We add that in in six months. So that way you are competitive with other people. Cause I think associates, they need that security and I'm watching more and more come through. I mean, they're walking out with one mil plus 2 million in debt. Like, so I think that I think to be competitive with others, might need to be a possibly. This is my hallucination that could possibly just make sure you're competitive. Fred Heppner (29:53) Well, well, no, you're so you're right on you're in a you're in another section of what the employment agreement might look like called compensation and benefits. I'm looking at just the period of time that you would be that a dentist would be employed in the practice to determine if it's a right fit for them and if it's a right fit for the practice and if it's a right fit for the patients and the team. Compensation can say exactly what you were saying. Now, Kiera Dent (30:16) Right. Fred Heppner (30:22) Unfortunately, it isn't the responsibility of the practice to provide for somebody who is unproven in their debt or to satisfy their lifestyle requirements. Yes, they're competing with other organizations that are offering salary, health insurance, vision, life insurance policies, all of those benefits that come along with big corporations. However, It's a private practice. And the sooner I think that dentists who are coming on as associates know the intricacies and the difficulties of running a business and also the rewards that come with it, they would understand better how those arrangements are made. And I've seen compensation programs set up where it's the greater of over two weeks, a compensation per day or a percentage of a certain amount over a certain amount of productivity. So you can meet those requirements. can kind of meet. Kiera Dent (31:15) Mm-hmm. Fred Heppner (31:16) Kind of need halfway in between. Kiera Dent (31:18) Yeah, and I think that that's where I was saying of I feel like making sure that you're meeting in the middle. I love the idea of being able to protect like, you're right, like not being stuck in this with someone who's not working out and getting stuck, I think is actually something that happens all the time with associates. ⁓ And so I think like, Fred, it was such a fun like, chat about us. I agree, we need to chat more partnerships because now it's like, okay, we've got these associates, we've got some ideas on it. We've heard about figuring out where we want to go and how we're going to be able to get there and needing to think about our future life and how when we need to transition, you said the three to five years, I think looking for like, what do need to do to be able to buy a practice? If I want to buy a practice, what do need to get? Then we talked about like the DSO offers coming for private practices, and how to assess that through Fred. And then we moved into associates. So Fred, like that was such a like smorgasbord of topics, which I love. And I think definitely reconnecting because I think there's the next step is like, how do we bring in these associates for partners if we want them? How can we build a legacy practice? That's not necessarily just the DSO. So I'd love to get you back on the podcast and chat partnerships and like alternative transitions beyond, but gosh, Fred, such a fun podcast today. Fred Heppner (32:10) It was fun. I am happy to do it anytime. I appreciate what you do for dentistry. So I'll absolutely support you and be glad to do it. Kiera Dent (32:36) Thank you. Well, Fred, as we wrap up today, were there any last thoughts you had to give to the listeners? And of course, ArizonaTransitions.com, ArizonaTransitions.gmail. If you're looking to transition or associates or what do I do or hey, Fred, I just need help. But any last thoughts you have as we wrap up today? Fred Heppner (32:52) Yeah, I think I tell you a funny quip that I think resonates with most people that I talk to. Dentists are excellent at curing dental disease, at diagnosing conditions and recommending treatments and working with patients to get them well. And, ⁓ coming into an event like purchasing a practice or selling a practice where they've never done it before. They don't have the experience or the education. going in to understand what to do. I would encourage them to get advice and guidance from a great team. ⁓ I have a deal with my dentist. Mike Smith is brilliant. He has a practice called the biting edge here in Phoenix and he's brilliant. And he and I have an agreement. I don't do my own dentistry. And he doesn't do his own practice transition stuff or practice management stuff. He relies on me to do that because they're in the middle. meet. So I want him to cure my dental conditions and make sure I'm in the optimum dental health that I could be. And I'm to make sure that I provide the services to him so that if he's looking to acquire a practice or merge an office into his, or figure out how the next plan would be for his practice growth or his transition, that he's going to sit down with me because he understands that that's my expertise and he. he benefits from. Kiera Dent (34:15) Yeah, I love that. That's such a good way to look at it. Let's sit in our lanes. Let's do what we're really good at and not try to be a one-stop shop. I think that that's brilliant, Fred. And I feel like for all those looking for the transitions for what do we do? How can I do it? Reach out, Fred. I think you're a wealth of knowledge. You've been in it for a long time and just truly so grateful to have you on the podcast today. Fred Heppner (34:36) It's my pleasure. Absolutely. Have a great day. Talk to you soon. Bye here. Kiera Dent (34:39) Awesome. Thank you. And thank you, Fred. Thank you, all of you. And for all of you listening, thanks for listening. And I'll catch you next time on the Dental A Team Podcast.
Membership Plans That Work: What Compliance Really Looks Like Dental membership plans aren't new—but compliance around them is becoming more critical than ever. In this episode of Dental Drill Bits, Sandy and Dana are joined by Jane Levy, Co-founder and CEO of Plan Forward, to uncover how in-house dental plans can boost treatment acceptance, increase loyalty, and help practices navigate the complex world of legal compliance. They discuss real-world misconceptions, why membership plans aren't just for fee-for-service practices, and how the right tools (and the right vendor) make all the difference. Jane also shares exciting KPIs from real clients and explains how Plan Forward's intuitive software puts your membership program on autopilot. If you've been manually managing your plan—or wondering if one is worth the trouble—this conversation will change the way you look at in-house dental membership. In This Episode You'll Learn How To: Boost Production: Find out how these plans can increase practice revenue by getting patients to say “yes” to treatment and cancel less. Keep Patients Coming Back: Learn the secret to turning patients into loyal members & an integral part of your dental community. Kiss No-Shows Goodbye: Hear how membership cuts down on those missed appointments, making your day less stressful. Make Life Easier: Get the scoop on Plan Forward's easy-to-use software that handles payments, renewals, and is compliant with state regulations. Break Free from Insurance: Discover how to ditch PPOs and stand out when only 20–25% of practices are doing this. Grab a coffee and tune in—this episode's a must for taking your practice to the next level! Upcoming Event: Front Desk Pro – Chicago August 1, 2025 Use promo code SECRETSAUCE (capital S in Secret and Sauce) to save $100 per person Seats are limited and these events always sell out! Thank You to Our Sponsors: Plan Forward Plan Forward makes membership plans easy. Their revolutionary platform helps you grow your dental practice, improve patient loyalty, and create predictable recurring revenue. Learn more at planforward.io. Identity Dental Marketing Your marketing firm should tell you who's landing on your website and what they're doing there. Identity Dental Marketing does that—and more. From website strategy to SEO and patient attraction systems, they help you grow smart and stay visible. Explore at identitydental.com. Mango Voice Mango Voice is a cloud-based phone system built for dental offices. It's packed with smart features that help your front desk perform at its best—from call recording and routing to texting and integrations. See it in action at mangovoice.com. Subscribe & Share: Love what you're hearing? Don't forget to subscribe, leave us a review, and share this episode with a dental friend who's ready to level up their patient loyalty and revenue with a smarter membership plan.
Associates on Fire: A Financial Podcast for the Associate Dentist
In this insightful episode of The Dental Boardroom Podcast, Wes Reed, CPA, CFP and founder of Practice CFO, breaks down the real financial impact of staying in-network with PPOs versus transitioning to a fee-for-service (FFS) model. Using a crown-focused case study, Wes illustrates how fewer procedures can yield significantly higher profits under FFS — even with some patient attrition. If you're a dental practice owner evaluating your profitability strategy, this episode will give you a clear-eyed view of the numbers that matter.Key Points Covered:The purpose of PPOs: high patient volume but lower profit margins.FFS model: fewer crowns, less overhead, but more profit.Why many dentists feel trapped in PPOs despite shrinking reimbursement rates.A detailed crown-based financial comparison: 30 PPO crowns vs. 20 FFS crowns.Key overhead costs: fixed vs. variable and their implications in each model.Why switching to FFS can potentially double your net profit.The long-term sustainability challenges of staying in-network.How patient relationships and brand strength affect attrition rates when transitioning out-of-network.Practical considerations for associate-driven vs. solo practices.#DentalBoardroomPodcast #PracticeCFO #PPOvsFFS #DentalEconomics #FeeForService #DentalPracticeGrowth #DentalProfitability #OutOfNetworkDentistry #DentalCPA #DentalBusinessTips #CrownCaseStudy
More management and insurance knowledge in my newsletter: https://www.odysseymgmt.com/newsletter Are you a dentist or manager in a seemingly endless struggle to stay profitable on PPO plans? You're definitely not alone. One of my first trusted resources in dentistry was Unlock the PPO's Sandy Hudson and Lisa Weber. Sandy joined me for a truly nerdy but very informative chat about networks and negotiations. We talked about the hidden challenges within shared network agreements and how she avoids “over-networking” and helps us understand opt-out procedures.
In this episode of the Less Insurance Dependence Podcast, hosts Gary Takacs and Naren Arulrajah break down the essential steps to developing a customized blueprint for success in your dental practice. Many dentists feel trapped by PPOs, working harder each year while losing a significant portion of their revenue to insurance write-offs. But the good news? There's a way out. Gary and Naren share a step-by-step approach to help you reverse engineer your success, transition away from PPOs, and build a thriving, profitable practice that provides personal, professional, and financial satisfaction. Book your free marketing strategy meeting with Ekwa at your convenience. Plus, at the end of the session, get a free analysis report to find out where your practice stands online. It's our gift to you! https://www.lessinsurancedependence.com/marketing-strategy-meeting/ If you're looking to boost your case acceptance rates and enhance patient communication, you can schedule a Coaching Strategy Meeting with Gary Takacs. With his experience in helping practices thrive, Gary will work with you on personalized coaching, ensuring you and your team are prepared to present treatment plans confidently, offer financing options, and communicate the value of essential dental services. https://www.lessinsurancedependence.com/csm/
Many dentists feel stuck in PPO plans, especially in small towns where every other practice is in-network. They worry that going fee-for-service isn't possible in their area. But what if that belief is holding them back? In this episode, Gary and Naren share the story of a dentist who thought exactly that—until he saw things differently. Instead of seeing his town as a challenge, he realized being the only fee-for-service practice could actually be an advantage. Patients are looking for quality care, and many are willing to pay for it—if they know where to go. Gary breaks down the mindset shift needed to leave PPOs successfully, no matter where your practice is located. He also shares practical steps, including how to market your practice, attract the right patients, and build strong relationships that keep them coming back. Book your free marketing strategy meeting with Ekwa at your convenience. Plus, at the end of the session, get a free analysis report to find out where your practice stands online. It's our gift to you! https://www.lessinsurancedependence.com/marketing-strategy-meeting/ If you're looking to boost your case acceptance rates and enhance patient communication, you can schedule a Coaching Strategy Meeting with Gary Takacs. With his experience in helping practices thrive, Gary will work with you on personalized coaching, ensuring you and your team are prepared to present treatment plans confidently, offer financing options, and communicate the value of essential dental services. https://www.lessinsurancedependence.com/csm/
Are you overwhelmed trying to navigate PPOs? Then keep listening! In this episode of Practical Solutions Day, Kirk Behrendt brings back Sandi Hudson, founder of Unlock the PPO, to decode some of the biggest challenges when dropping PPOs. You didn't go to dental school to deal with insurance. Let the experts do it for you! To learn more about Sandi's company and the key things to consider before dropping PPOs, listen to Episode 863 of The Best Practices Show!Learn More About Sandi:Join Sandi on Facebook: https://www.facebook.com/UnlockThePPOFollow Sandi on Instagram: https://www.instagram.com/unlocktheppoLearn more about Unlock the PPO: https://unlocktheppo.comLearn More About ACT Dental:ACT's webinars: https://www.actdental.com/135ACT's website: https://www.actdental.comACT's Instagram: https://www.instagram.com/actdentalACT's YouTube: https://www.youtube.com/actdentalACT's Facebook: https://www.facebook.com/actdentalACT's LinkedIn: https://www.linkedin.com/company/3137520/admin/feed/posts/ACT's Twitter: https://twitter.com/actdentalMore Helpful Links for a Better Practice & a Better Life:Subscribe to The Best Practices Show: https://the-best-practices-show.captivate.fm/listenJoin The Best Practices Association: https://www.actdental.com/bpaDownload ACT's BPA app on the Apple App Store: https://apps.apple.com/us/app/best-practices-association/id6738960360Download ACT's BPA app on the Google Play Store: https://play.google.com/store/apps/details?id=com.actdental.join&hl=en_USJoin ACT's To The Top Study Club: https://www.actdental.com/tttSee the ACT Dental/BPA Live Event Schedule: https://www.actdental.com/eventGet The Best Practices Magazine for free: https://www.actdental.com/magazinePlease leave us a review on the podcast: https://podcasts.apple.com/us/podcast/the-best-practices-show-with-kirk-behrendt/id1223838218Main Takeaways:Fee-for-service dentistry is...
When a practice drops a PPO plan, patients don't always react the way you'd expect. It's not the cost of a crown or an implant that surprises them—it's their hygiene visit. For years, they've believed their cleanings were “free,” but once you're out of network, that changes. In this episode, Gary and Naren dive into why hygiene visit fees create the biggest pushback, how insurance companies handle co-pays differently, and what you can do to keep patients from leaving. You'll hear real-world examples, simple communication strategies, and ways to prevent surprises for your patients. Navigating this transition doesn't have to be difficult. By preparing in advance and understanding what matters most to patients, you can avoid common pitfalls and ensure a smoother shift to fee-for-service. If you're thinking about resigning from PPOs, this episode is a must-listen. Learn how to keep your practice thriving while reducing insurance dependence—without losing valuable patients. Book your free marketing strategy meeting with Ekwa at your convenience. Plus, at the end of the session, get a free analysis report to find out where your practice stands online. It's our gift to you! https://www.lessinsurancedependence.com/marketing-strategy-meeting/ If you're looking to boost your case acceptance rates and enhance patient communication, you can schedule a Coaching Strategy Meeting with Gary Takacs. With his experience in helping practices thrive, Gary will work with you on personalized coaching, ensuring you and your team are prepared to present treatment plans confidently, offer financing options, and communicate the value of essential dental services. https://www.lessinsurancedependence.com/csm/
Are you reaching the right audience or casting your patient net too wide?In this episode of the Ground Marketing Series, we unravel the secrets behind targeting the perfect patient audience to boost the success of your marketing strategies. We dive deep into the art of identifying and defining your ideal patient personas by analyzing demographic and behavioral data. By honing in on specific patient groups, you'll uncover the psychological and behavioral dynamics that drive patient decisions, enabling you to make smarter, data-driven marketing moves.We'll walk you through practical methods to analyze your existing patient base and research local demographics, crafting marketing strategies that meet your patients where they are. Learn how to naturally engage your target audience in places they frequent, utilizing pre-visit strategies, impactful initial interactions, and persistent follow-ups. To cap it all off, discover the power of forming local partnerships and nurturing community relationships for long-term success. Embarking on this detailed guide, you'll be equipped to create a strategic ground marketing plan that resonates with your ideal patients, laying the groundwork for sustainable growth.What You'll Learn in This Episode:Crafting a detailed profile of your ideal patient persona.Utilizing demographic and behavioral data for marketing plans.Targeting patient groups using psychological and behavioral insights.Analyzing current patient data and local demographic trends.Engaging with patients in their natural gathering spots.Developing a systematic and structured approach to ground marketing.Building robust local partnerships within the community.Tune in to discover how to transform your practice's marketing strategy with precision and insight!Learn More About the Ground Marketing Course Here:Website: https://thedentalmarketer.lpages.co/the-ground-marketing-course-open-enrollment/You can reach out to Michael here:Email: michael@thedentalmarketer.siteOther Mentions and Links:Podcast Episodes:313: Dr. Tyler Brady | How to Use "Influencer Marketing" to Attract New Patients & Grow Your Practice FAST! – The Dental Marketer PodcastBusinesses/Brands: Invisalign Amazon CrossFit24 Hour Fitness LA Fitness HyattMarriottPeople: Dr. Tyler Brady Groups:Rotary Club U.S. Chamber of CommerceData Collection:U.S. Census DataFacebook GroupsIf you want your questions answered on Monday Morning Episodes, ask me on these platforms:My Newsletter: https://thedentalmarketer.lpages.co/newsletter/The Dental Marketer Society Facebook Group: https://www.facebook.com/groups/2031814726927041Episode Transcript (Auto-Generated - Please Excuse Errors)Michael: Alright, we're going to be discussing identifying your target. Now, this is huge how to pinpoint and approach your ideal patients through ground marketing. So right now, if you're thinking, man, I hear this all the time, I need to find my target audience. I need to know my ideal patients. Maybe sometimes you're thinking like, I just want any patient, but no, you gotta get specific here. Niche down. And you do have an ideal patient in your mind, right? Maybe you're an existing practice in your favorite patients. Those are your ideal patients. If you don't have a practice yet and you're in the opening startup phase Who you've worked with in the past as an associate and your favorite patients, whoever they were, those are ideal patients, right? Obviously it's going to evolve within time. You're going to get more niched down and more specific, which is going to be perfect. Because you're going to be able to target that audience. So why targeting matters in ground marketing. So ground marketing is not about reaching the most people. It's about reaching the right people without precise targeting. Efforts are wasted on audiences who are unlikely to convert into loyal patients. So identifying your ideal patients ensures. That your marketing is efficient, high converting and relationship driven. That's, what's going to be most important, right? You want it to be efficient. Obviously you want it to convert as high as possible, but relationship driven these offers or these other things, they can be easily broken, right? you can cut ties quickly. But once that relationship thickens and thickens more, it's harder to cut because it's a relationship. And that's what you want. You want these ideal patients, all of them to be relationship driven, unlike digital marketing, where you can segment audiences with online analytics, ground marketing relies on behavioral. Demographic and psychological factors to pinpoint ideal patient groups. And in previous episode, we discuss the psychology behind it. Brown marketing. Now the science behind patient behavior and decision making, if we understand how people make healthcare decisions, it's going to help us tailor our approach. So I want to give you some key psychological factors that drive patient choices. And these are things you need to keep in mind whenever you're out ground marketing, or just in general, whenever you're doing any type of marketing. Okay. It's four things, And number one, this is a huge one, proximity and convenience. People providers within a 10 to 15 minute radius from home or work. So a solution for this. Is you want to focus on high foot traffic areas near your practice, grocery stores, schools, gyms, coffee shops, anything in that area, in that radius, you want to focus on and there's a, module in the ground marketing course under the existing patient analysis. The EPA module or the EPA unit, we discussed this in depth. We dive a lot deeper on the exact radius you should be looking at for your practice. that's number one, proximity and convenience is trust and social proof. So patients choose providers recommended by friends, family, or familiar community figures, right? The solution for this would be leveraged word of mouth referrals and local partnerships to build credibility. So your favorite patients right now, the ones who talk you up, make sure they are consistently talking you up, but you want to turn them into ambassadors who can turn other potential patients into ambassadors. You want to keep this going. That's going to be social proof and you want to build trust as well. That builds a lot of trust. As we know, that's the strongest form of marketing, which is referrals, word of mouth. So that's what you want to do. You want to leverage word of mouth referrals and local partnerships to build your credibility. That's two trust and social proof. Three is immediate need versus preventative mindset. Now, some patients seek urgent solutions maybe they have tooth pain, emergencies right, things like that. Then others prioritize long term dental health, so Invisalign, cosmetic work, etc. Your solution for this is segment patients based on need and customize your approach accordingly. If you're going for emergency patients, That's what we're going to start targeting. Emergency locations, clinics, urgent cares, specific locations. If you're looking for long term, preventative, think of cosmetic, right? Or full mouth reconstruction or something else. Misalign, implants. That's where you want to start targeting. Start thinking of where that demographic probably would be. That coupled with trust and social proof and then proximity and convenience. Now we're targeting, right? We're niching down. And finally is financial concerns and insurance acceptance. So many patients choose a practice based on insurance coverage or affordability. This is not new to you. You know this. You get a call maybe a couple times a day saying, Does my insurance cover this? many patients choose a practice based on that. So the solution is Highlight flexible payment options and insurance acceptance in your marketing, and we're going to dive deeper into this. And in the ground marketing course, there's a whole section on this, on how to verbalize or enhance your vocabulary. So. You know how to respond when people ask questions like, do you accept my insurance or how much does this cost? And so forth. So identify which psychological driver fits each audience and tailor your messaging accordingly. Okay. So little do you know right now, your marketing message is tailored to a specific target audience. Is it the target audience that you want? Based on these four things, number one, remember proximity and convenience to trust and social proof three immediate need versus preventative mindset and for financial concerns and insurance and acceptance based on those four things, who do you think your marketing messaging is targeting right now? so we're going to niche down if it's the right people, perfect. We're going to continue to do that. If it's not, we need to adjust. And make sure you want to niche down to your ideal patients, who you want to continue to see forever, if you could. So now that we got that down, number one, the science behind patient behavior and decision making. We understand how the patients are going to be making decisions. Now we want to define your ideal patient persona. So a patient persona is a detailed profile of your target patient. You want to consider the demographics, behaviors, and pain points. So the steps to create an ideal patient persona, and here's where you probably want to take out your pen and paper write this down, right? And start analyzing and start defining your ideal patient persona. So step one, analyze your current patient base. Who are your most loyal and high value patients? Write that down. What age group, income level, and insurance plans do they have? Write that down. Group them. What common concerns bring them to your practice? Write that down. Okay. That's going to be huge. This is probably the biggest thing ever, because let's just say you have lot of patients, right? And you're writing it down, you're like, your most loyal and high value patients is let's say Bob and Barbara. I love them. What age group are they? Oh, they're ones in the thirties, ones in their fifties. Okay, income level. Oh, I see the income level is common. It's in the 100k to And they do have insurance too. They have PPOs. Okay, cool. Awesome. What common concerns bring them to your practice? Well, They both had initially, you know, pain or maybe they moved and then they wanted to see a new dentist. Or something, or they just had, concerns or they wanted cosmetic work done. Now you're starting to niche down, okay, where do they work? What income level? Where is their HOA? Or where do they live? And what type of apartments at the same time, wherever their hobbies are, what are they doing? Things like that, right? You're starting to live around their life. That's how you're analyzing your current patient base. Once you live around their life, they go to these grocery stores, they go here, they go here. Now we're starting to niche down. Let's focus on those locations to ground market too. So step one, most important step, analyze your current patient base. Step two, you want to research your local demographics. You can use your U. S. census data, city planning sites, or my favorite is local Facebook groups to gather insights. Just go to the Facebook group in your community. There's probably five or more. And then they even niche down on that. There's mom groups, there's athletic ones, there's ones who love recipes and stuff like that. And just in your community, niche down on that and be a part of those Facebook groups, and you're able to gain some insights on that. What are people talking about? Even if you just type in the search bar, dentist. You're able to gain a lot of insight on that. What's their concerns? What are they looking for? And things like that. And then you want to identify major age groups, household incomes, education levels, and common employment types. Always do that. Every single one of your patients, you should be able to know where they work at what type of obviously insurance they provide, but at the same time, what I recommend and in the course, we recommend this all the time. And we teach you, we give you the scripts on exactly what you should say and how to do this. So that you can get into these patients who let's just say, Oh my God, you work at the Amazon fulfillment center. It's a corporation of 000 employees or a hundred employees. And you would love to have them as your patients because their insurance is great. Yeah, we give you the script on how to ask that patient who's already a patient of yours, how you can dive deeper into their place of employment, who do you need to contact, things like that in order to go inside of the corporation become one of their main providers. So you definitely want to be asking these questions to all your existing patients already, but at the same time, this is something you want to sit down and start identifying yourself, the age groups, household incomes of your ideal patients, the education levels, common employment types, things like that. So that's step two, research local demographics. And the way you can do that is by going to Facebook groups, but us census data and city planning sites are good to Facebook groups, you're able to get a little bit more insight, casual conversations, which is what's on their mind at that time. And identify a lot of the insights that you're trying to get. So step three would be identify their pain points and decision making triggers. And this is where the Facebook groups come in pretty handy. You can see the insights. You can see what people are saying, but do they struggle with dental anxiety, busy schedules, cost concerns? Are they parents seeking pediatric care? Are they young professionals considering Invisalign? Look into this. Okay. So you want to do three things on step number two, which is number one, analyze your current patient base, who are your most loyal and high value patients, age group, income level. Step two, research local demographics. U. S. Census data, local Facebook groups, right? Three, identify their pain points and decision making triggers. Remember, we discussed what four decision making triggers are. So identify them. Identify their pain points. What are they? And then we niche down. An example of this is right here. And if you're listening to this on the podcast, great, wonderful. But when you can, look at the video version of it because this is where I'm showing you right now the examples of the patient persona. So let's just say persona number one, the busy parent, which is ideal for pediatric and family dentistry. Their ages is 30 to 45. Their lifestyle is full time working parent and their kids are aged from four to 12 pain points would be lack of time and concerned about their children's health, their dental health. So your marketing approach is this. You want to offer a convenient evening or weekend appointments partner with local daycares and schools for easy referrals. And provide family discounts, if you would like, or bundled appointments. Okay. That would be how that would look if you're dealing with a busy parent. Persona number two, the aesthetic driven young professional. They would be ideal for a cosmetic or ortho services. This is a young professional. there between the ages of 25 to 40, their lifestyle, their career oriented, active on social media, and willing to invest in appearance, their pain points. Is they want straight white teeth, but they fear high costs. So your marketing approach would be you offer interest free financing and small makeovers. Just offer the interest free rate financing, offer something bundled up. That's beautiful. A lot of the times we like to show them the big ticket price and say, Hey, this is all the discounts we're giving you. You don't need to do all that. You can just say, you're going to get this at the monthly rate. That's it. you're being efficient with your time, short, sweet, to the point brevity. And at the same time, it's appreciated by them. They're like, Oh man, I can do that. That's as much as like a gym membership or a CrossFit membership. You want to partner with gyms, salons, or coffee shops where they frequent. And you want to provide a before and after transformation and influencer collaborations. And in the course we discuss on how you can do that and influencer collaborations. And in the podcast, we discussed that if you want to type in the search bar on our website the dental marketer. org, you can type in Tyler Brady, he discusses quite a bit on how to do influencer marketing and collaborations. But that's what you want to do. You want to provide before and after transformations big time. one thing I recommend is you want to create two to three personas and align your outreach strategies accordingly. So your ideal patient doesn't mean it has to be one specific persona and one specific ideal patient and that's it. You can have multiple. and I challenge you to have three ideal patients. So one could be the busy parent, the other one can be the aesthetic driven young professional, and then the other one can be like The retired senior who is living it up in the community center, right? And you can go from there. So that's going to be step number two. So to recap, step number one is the science behind patient behavior and decision making. Two is defining your ideal patient persona, which we just did. Three is now locating and approaching your ideal patients. once you've identified your ideal audience, the next step is finding where they gather and crafting their perfect approach. You want to craft your perfect approach. So where to find different patient groups in your community. Now you can make a list and put top left patient type in the middle, where to find them and then on the right best approach. if you want, you can look at my, screen and I have that right here. So the patient type is parent with young kids. You can find them in schools, daycares, pediatrician offices, kids, sports events, ice cream shops specific gyms, just for children, like jamboree and things like that, et cetera. And your best approach could be, you can offer a free comprehensive exam. You can offer something as like a free consultation. You can have signup sheets for parents. You can offer, Hey, come in your first visit a tour for free, right? You can create an event just for the parents to tour everything, do something amazing for the children. That would be your best approach. Patient type. Young professionals, where to find them, gyms, coworking spaces, networking events, coffee shops. You want to go to specific events. If you're looking at the chamber of commerce on the calendar, you can see specific events that people are a part of your community throws specific things for them. A lot of apartment complexes, humongous apartment complexes, throw events every single month for people like a wine and cheese type of thing or anything like that. You can be a part of that. And honestly, your best approach is promoting teeth whitening. That has been incredible. Promoting teeth whitening, or if you want Invisalign specials as well. Patient type, seniors and retirees. You want to go to community centers, senior health centers things like that. And you want to offer specific things, right? Mainly what we've seen is they have a lot of questions specifically. About not just insurance, but what's covered, what's not, they will have insurance questions. And so we will dive much deeper, maybe multiple episodes on seniors it's an incredible patient base we forget sometimes that, they're the ones who are learning the quickest, the internet, and they're using it the most. And at the same time, they are excited to receive emails and so much more. So if you're at senior events, senior centers, and things like that, independent living facilities, all you really have to do at those. When you're speaking to them, if you're doing like a booth and a luncheon or anything like that, it's just answer questions and they will sign up and they will be a part of it and they will get their families to go to, so you can do free oral health workshops at these facilities. You can do implant consultations and things like that. But I'd go with, just wanting to answer questions and then you can. Understand the feel of the group and be like, okay, this is what they want. We're going to offer that, or maybe they don't want anything. They just need work done. And then you want someone to finally answer their questions. So anyways, we're going to dive deeper on seniors and later episode, emergency patients, right? You want to go to urgent cares, clinics, pain management centers. That's where you can find them and then provide specific emergency things, right? You want to partner with pharmacists, let them know, talk to them, partner with urgent cares, partner with hospitals, small clinics, things like that. Give them specific flyers if you want on the services and how you're available, what you can do, things like that. And then patient type corporate employees. You want to do HR departments, lunch and learn sessions, offices, offer insurance maximization workshops. You want to dumb it down to them, literally to where you can explain it to a third grader. That's how you want to look at it. And then you want them to be able to explain it to an actual third grader. That way, you know, that they understand the more you can educate them like that, the better, especially with corporate employees, because they have a ton of work. They're doing a lot and they just want, Hey, did I maximize it? Did I do everything I could? At the same time, I know a lot of members in the course, they do have onsite dental screenings, or they actually will go to these corporations and work on them. They have these mobile units that they can just go and do cleanings there. That is huge and helps them out a lot. And the companies absolutely love that because more time there is better for the corporation than, you know, less time out and about. Scheduling and then having be out, So if you can offer that, that's awesome. like I said, we dive deeper into that as well in the course. Now, you want to strategically choose locations where patients already gather rather than trying to bring them to you. Okay? So if they're already there, strategically choose that location. I'll give you an example. There's a pretty big hotel. Let's just give a name, right? Let us say the Hyatt or Marriott or something like that. Right. And they have quite a bit of employees and instead of you trying to go after, Oh, Hey, me go just for the front office. Hey, let me go for the maintenance, signatures, housekeeping. They actually have team meetings early in the morning, monthly team meetings. And believe it or not, they will allow you to come in, set up your booth and have speaking time. that meeting with everyone watching you. And so that's your time, And that is a good example of you're choosing a location that offers insurance, that offers good benefits to their employees and things like that. And. You're choosing locations where patients are already gathered, rather than you're trying to bring them to you individually and just handing out your flyers, you're being strategic, right? And then one of the last is number four, creating a targeted ground marketing approach plan. So now that you know who you're targeting and where to find them, let's just say it's the mother, right? With the kids or it's the young professional. Now you know where to find them. You need a systematized approach. Okay. So there is a pre visit strategy. You want to establish credibility first, right? You can either do that by connecting on LinkedIn or local business networks before showing up. That's why sometimes I do recommend joining the chamber of commerce or the rotary club, but it's not necessary in the course. We teach you how to, be a part of the chamber of commerce and other events without actually joining the chamber of commerce. So you don't have to pay that fee, it does help. if you are. Because you're able to be a part of specific networking events. Now that's one thing you can do. You can also send an email or letter of introduction of your practice before visiting businesses. This works sometimes. I have yet to do this, but I added this in here in this episode because I know some of the members do it. For specific corporations and it's helped out tremendously. So go ahead and do that if you like. I know it's specific corporations. we actually in the course we give you the template. We give you the whole script on what to say in the email and then boom, you can just put your name and send it. But like I said can do that or can find a common contact who can introduce you, right? Mutual connections. That is the best thing. That is what I normally do find a common contact, mutual connections, and that equals trust, right? You call the location. Hey, one of your patients just came into our practice and, you know, I had a couple of questions and. They are like Cause you're calling the HR department. Is everything okay? What, What happened with that person? Oh, no, they're just saying how much they love it there. They love you. And we love them as a patient as well. And I was just wondering, is there any way we can kind of, offer more specific benefits and special offers for the employees there? mean, We love you guys. We love employees that you have. And boom, you're able to get in there, right? And offer more. But that is because you have a common contact who can introduce you. Technically, the person didn't even introduce you. You just have a common contact. And that's what I utilize. I'm just like, hey, you work at this location? Perfect. Is it okay if I call the HR department or, you know what I mean? And let them know. And nine times out of ten, the patient who's already an existing patient will tell you sure, you can go ahead. I mean, I have nothing to do with it. And then just go ahead and call. And then you're able to get in. So perfect. That's a pre visit strategy, right? And then the perfect first interaction you want to approach without being salesy. So that's A. A is the pre visit strategy. B is the perfect first interaction. You want to keep it casual and conversational, not sales pitchy. I can't express to you how important this is. Keeping it casual, Almost like you're talking to a friend. Not overly casual, but casual in the sense of you're now walking in there with everything in your hand and you're not on the phone call. like you're reading something from a script, although you might be reading something from a script. You just want to keep it casual, offer something of value up front, And then use social proof. You know, We worked with other businesses and we've helped their employees and patients. We would love to support your team too. You can use social proof in the sense of, you know what, every month we partner with a fitness facility. And this month we would love to partner with you guys. We saw incredible results for our patients the employees or the clients or the members in. 24 hour fitness. And we really wanted to partner up with LA fitness now, because that's just been a request and you have something every month that we can be a part of? boom, they're going to say, yeah, we do. We have something that you can be a part of. Wonderful. How does this work? And then you can continue with them. Never start with. And this is a humongous pro tip and you hear this all the time and you've probably done this, I've done this So never start with, Hey, we'd love it if you send referrals our way. So you're going in, dropping off flyers to the perfect location that you want your ideal patient to come from. And you're like, hi, I'm the new dentist down the street. We'd love it if you send referrals our way. That does nothing. Maybe one in a million times it might get you a referral here and there, but that's it, just know as you're the person who's asking for something. So start by offering something first. And then see follow up system. I cannot tell you how important following up is. And I discussed this in the previous episode. I mentioned this is probably where you either gain or lose the most potential patients, new potential patients. Most people won't book immediately. They need reminders and touch points. So you want to immediately follow up same day, send a personalized message, thanking them for their time. Everybody you meet at an event, you just dropped off something, you introduced yourself in the sense of you're going to go be a part of their event. You dropped off a signup sheet. just follow up immediately that same day. more than likely the person you spoke with is not one of your patients already and they can become your patient. Step two, you want to do a three day follow up, right? Provide a quick reminder about the offer, the benefits. And then you also want to follow up again with that. If they haven't booked, want to offer a limited incentive. month our free whining is ending, and I noticed there's only five more days left, or we have five free whining sessions left. We'd love to save one for you, things like that. Right. And we're going to dive so much deeper, multiple episodes on how to follow up specifically. But in the ground marketing course, I give you the breakdown, I give you the scripts. I give you templates, everything on exactly how to follow up, how many days you should wait, how many months, if so. And what to do and what to say in each of them, but remember 80 percent of conversions happen after five to seven touch points. So keep nurturing leads, always keep nurturing leads. So a final thoughts you want to have a targeted strategic ground marketing plan, That is the key to success. So a step by step summary for success. And in this episode is number one, you want to understand patient behavior, identify what drives decision making and we discussed that right. Convenience, cost trust, create clear patient personas, define who you want to attract, and then define their pain points. Get those two crystal clear. Three, locate the right places. Be where your target audience naturally gathers, but be there consistently. Don't just be there one time and that's it. Be there as much as you can for as long as you can. Locate the right places. Four, use a systematic approach. Have a pre visit strategy, an engaging first interaction. And a structured follow up. So when ground marketing is done strategically, it builds sustainable, high value patient pipelines without relying on expensive ads. Identifying your audience is the most critical step to making your efforts pay off. So that's what you want to do. First and foremost. Okay. So thank you so much for tuning into this episode. I hope it helps. I'm excited to see you continue to skyrocket on your ground marketing journey. If you have any questions or concerns, please feel free to reach out You can email me, you can find me at Michael at the dental marketer dot site. That's the email. Or you can just go on the website, the dental marketer. org and fill out. One of those follow up forms, but the best way to reach out to me is if you are part of the ground marketing course, which I'm going to put a link to it in the show notes below, it's going to be the first link in the show notes below. I mean, We have live office hours like this. You're able to engage with me, talk with me. It's like a mastermind session. At the same time in there, you're able to see all the strategies, all the scripts, all the templates, all the workshops. You even see real life examples of me. I hide the camera or I'm on the phone. Doing these strategies and you're able to see it work in real time, exactly how it's supposed to be. so definitely join the ground marketing course. I'd love to see you in there. I'd love for you to be a part of it so you can start attracting new patients, but at the same time, become the go to practice in your community and build these incredible local partnerships And that's what we're going to be discussing in the next episode, building local partnerships that matter. So thank you so much. And I'll talk to you soon.
Going out of network with insurance is a big decision for any dental practice, but timing is crucial. In this episode of The Less Insurance Dependence Podcast, Gary Takacs and Naren Arulrajah break down the key mistakes practice owners make when transitioning away from PPO plans. They outline four critical factors to evaluate before making the move, including the strength of patient relationships, the effectiveness of marketing strategies, and scheduling demand. If your practice isn't prepared, dropping PPOs at the wrong time can lead to revenue loss, empty schedules, and unnecessary stress. But with the right approach, you can successfully transition while maintaining financial stability. This episode is essential for practice owners who want to take control of their profitability without risking their patient base. Tune in to learn practical steps to ensure your practice is truly ready to go out of network. Book your free marketing strategy meeting with Ekwa at your convenience. Plus, at the end of the session, get a free analysis report to find out where your practice stands online. It's our gift to you! https://www.lessinsurancedependence.com/marketing-strategy-meeting/
Are you tired of PPOs cutting into your hard-earned revenue? Many dentists feel stuck relying on insurance companies for patients—while sacrificing profits. But what if you could take control and bring in patients on your own? In this episode, Gary Takacs and Naren Arulrajah discuss the 5 key areas of a marketing audit that can help determine whether your practice is ready to reduce PPO dependence. You'll learn how to check your Google rankings, online consistency (NAP score), website performance (Lighthouse score), credibility (E-E-A-T), and review growth (Google Review Velocity). By understanding these essential marketing factors, you can replace insurance-driven patients with high-quality ones who value your care—all while lowering marketing costs. If you've ever wondered, “Is my practice ready to go out of network?” this episode gives you the answers. Tune in now and take the first step toward insurance freedom! Book your free marketing strategy meeting with Ekwa at your convenience. Plus, at the end of the session, get a free analysis report to find out where your practice stands online. It's our gift to you! https://www.lessinsurancedependence.com/marketing-strategy-meeting/
Dear ADA, UDA, and All State Dental Associations,As many of you know, my wife and business partner, Tracy, and I have been strong advocates for both dentists and patients through our company, My Practice My Business (MPMB). Over the years, we've trained dental practices in Utah and across the nation on how to achieve profitability, even when participating in PPOs. Part of our training includes thoroughly understanding dental insurance contracts and state dental laws.We were the primary drivers of Utah's HB359 legislation—the Network Leasing, Down-Coding, and Bundling Protections Law—which protects dentists and patients from the overreach of dental insurance companies. I'm happy to report that we are actively working on additional legislation this year to help safeguard dental practices and the patients they serve.Unfortunately, the dental profession continues to face challenges that highlight a disconnect between the priorities of our professional associations and the concerns of practicing dentists. Membership in associations like the ADA, UDA, and other state dental associations is declining, and it's not just due to financial pressures. The real issue lies in the misalignment between the needs of dentists and the actions of the associations that claim to represent them.In this podcast are examples that illustrate this disconnect...Support the show
In this episode of the Nifty Thrifty Dentists Podcast, host Dr. Adam Vega welcomes Dr. Tarek Badaway, a passionate leader in the dental community and admin of the Commander Doctors Facebook Group. Dr. Badaway shares his inspiring journey from Egypt to becoming a super GP in the U.S., his commitment to advancing organized dentistry, and how he fosters collaboration within the dental profession. Dr. Badaway dives into key topics such as: How to balance clinical, business, and advocacy aspects of dentistry.Why dentists must get involved in organized dentistry and have a voice.Embracing technology to improve patient care and streamline practices.Strategies for navigating PPOs, patient education, and financial sustainability. ✨ Sponsor Shoutout:This episode is brought to you by SMC National, your ultimate growth partner for dental practices! SMC National helps you attract more patients, improve ROI, add full-arch implants, and scale your practice effortlessly. Don't let giant DSOs take your patients—reach out to SMC National and ask for the "Nifty Thrifty Deal" today!
On today's episode, Mark welcomes Dr. Chris Green, an accomplished dentist, multi-practice owner, DSI Black Belt coach, and now a published author, to discuss strategies for optimizing dental practice efficiency and profitability. Dr. Green shares tactical advice on combating patient cancellations, scaling with multiple providers, and balancing clinical time with CEO responsibilities. The duo also delves into insights from Dr. Green's latest book, The Dental Financial Coordinator Position Manual, a resource designed to streamline insurance processes and maximize collections. Whether you're navigating the challenges of PPOs or exploring the path to fee-for-service, this episode offers valuable lessons for every stage of practice ownership. EPISODE RESOURCES ThePracticeLaunchpad.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast
"How to Scale a Membership Program to 365 Members in Just One Year: Lessons from Pioneer Valley Dental Arts"Read my article for this podcast!Summary:In this episode of The Automatic Patient Podcast, host Jordon Comstock chats with Gina Kiner, Office Manager at Pioneer Valley Dental Arts, about her incredible success in growing their patient membership program to 365 active members in just one year. Gina shares her strategic insights, emphasizing the power of empowering clinical teams to promote the membership program alongside the admin staff. Together, they discuss the importance of patient experience, the role of membership plans in reducing financial barriers, and how effective communication fosters trust and treatment acceptance.Key highlights include:How integrating clinical teams into the financial discussion boosts program adoption.The importance of creating seamless patient experiences and building trust.Specific strategies used to educate both uninsured and insured patients about the membership program.The overwhelmingly positive feedback from members and how it fuels continuous improvement.The significant advantages of membership plans over PPOs, including increased treatment acceptance rates and simplified processes.Whether you're looking to enhance patient care, boost recurring revenue, or learn actionable tips for scaling a membership program, this episode offers invaluable advice from a practice that's successfully done it.How to Scale a Membership Program to 365 Members in Just One YearJordon Comstock - BoomCloudapps.comAutomatic Patient Podcast
Can a dental practice function on a NO-hygienist model? In this Monday Morning Episode, I sit down with Dr. Ron Schefdore, a trailblazing dentist who dared to challenge the conventional hygienist-dependent model and hasn't looked back since. He bravely shares his transformative journey, detailing the hurdles and victories of running a practice without hygienists. By prioritizing time with patients and refining diagnostic capabilities, Dr. Schefdore not only enhanced patient care but unveiled significant financial benefits. He offers a candid look into the operational dynamics of his practice, demonstrating how a focus on customer relationships can complement financial growth in the dental industry.Further into the conversation, Dr. Schefdore delves into practical strategies for managing the shift, particularly in scenarios involving the exit of hygienists. His methodical approach includes a gradual dropping of insurances to attract and maintain loyal and high-quality patients, while emphasizing the pivotal role of training and teamwork. Ron passionately challenges the traditional mindsets that dominate dental practices and invites you to do the same!What You'll Learn in This Episode:The compelling advantages of a no-hygienist dental practice model.Steps to overcoming operational challenges without hygienists.Financial benefits of spending more time on patient diagnostics.How to navigate network transitions for retaining top-tier patients.The critical role of training and teamwork in a restructured practice.Strategies to shift the mindset of traditional dental practices.Tune in now to explore the no-hygienist model with Dr. Ron Schefdore!Sponsors:CareStack: Modern, Secure, Cloud-Based Dental Software for Growing Your Practice! With state-of-the-art features including Online Appointments, Integrated Payments, Text Reminders and more. Click the link here for a special offer: https://thedentalmarketer.lpages.co/carestack/You can reach out to Dr. Ron Schefdore here:Website: https://www.pharmaden.net/Facebook Page: https://www.facebook.com/dentalcoachingsystems/Mentions and Links: Education:Loma Linda UniversityIf you want your questions answered on Monday Morning Episodes, ask me on these platforms:My Newsletter: https://thedentalmarketer.lpages.co/newsletter/The Dental Marketer Society Facebook Group: https://www.facebook.com/groups/2031814726927041Episode Transcript (Auto-Generated - Please Excuse Errors)Michael: Hey Ron. So talk to us. What's one piece of advice you can give us this Monday morning? Ron: Don't worry about not finding a hygienist or having hygienist issues because I did a no hygienist model very successfully for decades. And I teach that to dentists now and how to do the same thing.Michael: Interesting. Okay. So if you can a little bit expand on, how did you first transition to the no hygienist model and what were the biggest operational challenges you faced? Ron: The first 17 years in practice, we built three practices. I owned the three buildings. Staff of 36 associates out of network financially.It was fantastic. It was like every dentist's dream, right? And what I realized after that long of managing people that that is not my forte drove me nuts somebody offered me some stupid money and I took it And thank God because it gave me an opportunity to grow up now being a dentist and say, you know, what do I really want to do?Why am I here? What excites me? And for me, it was spending more patient time, which a lot of doctors want to do. So I says, if I want to spend more doctor time, and I really want to help people with their perio, get them cure basically of perio, get them to look better, the things that excited me and the work I wanted to do, that means that I can't be chair hopping.Forget the chair hopping. I don't know a dentist that likes it. I mean, There is some weirdos that like it, but who the hell wants to keep jumping from chair to chair? This never excited me, never interested me. And not getting paid, they're all joining these cut rate insurances.Why you went to all the schools, spent all this money and you're an expert. Why are you doing that? I never bought into that and I had, a bunch of money. So I didn't really need to worry about the money when I opened up the second practice of a new hygienist model. we figured it out and very quickly in today's dollars, we got up to doing a million dollars and bringing home ham and I did that for a couple of.and I had six weeks vacation, sometimes a little bit more, took a month off. A lot of times, it was the best of all worlds. And so once I retired the second time, five years ago from clinical dentistry, I started getting on Facebook and just telling dentists, Hey, you guys could still have it all.It works out really good. You're having so many hygienist issues. You don't need those anymore. Hygienists are valuable. However, they're getting theirselves. Out of the market, they're pricing themselves out of the market. They have quite an attitude. So many of them think they're doctors and it's like, no, you're an employee.You might be a colleague, but you're still an employee. So let's not cross that line, it's just a weird dynamic. Now, I've met hygienists that are awesome. I'd hire them in a second. That's 5 or 10 percent of them that I've met. And this is a real problem with most dentists that I've talked to.Don't do a hygienist model. Get out of network or minimize the PPOs. Keep just the best ones. You only need 400 active patients. For this. That's it. If we all only had 400 active patients, there's plenty of patients to go around. All these dentists are fighting over. I need 1, 000. I need 2, 000. I need 3, 000 patients.That's crazy. No, you don't. You know, just, Just stop the nonsense already. So that's my advice. Michael: Okay. Okay. So then when you apply this or what systems or workflows did you have to adjust to maintain or improve your patient care without a hygienist? Ron: One column, see one patient at a time, minimize the amount of re cares that you do, and it's assisted hygiene.No, it would be stupid for a doctor to do hygiene all day long. Get that out of your brain. Oh, I'd rather do something else where I make more money. I could prove to you, any dentist can make six to seven hundred dollars an hour doing a re care visit. I've done this on dozens of practices.How many doctors are making 700 an hour without even breaking a sweat? I mean, That is about the easiest appointment you could do. Why not have some appointments during the day that are easy on us both emotionally and physically? There's nothing wrong with that. So, you know, 800 an hour and you get a 50 percent overhead, that's a million a year and bringing home 450, 000 pace.Why do we need a hygienist? Most dentists, if they made a half a million dollars a year take home, they would be very, very happy with that. I did that for decades, took six weeks off, and it was, dentistry's still hard, but you know, I only had three cross trained staff. So when you're doing hygiene, you minimize the amount of re care that you do, and you use a great cross trained assistant with you.That's all you need to do, and you fit those half hour appointments, it's half hour doctor time, half hour assistant time on the recare, that time that you spend with them is so much more fun, and it's relaxing in between all the hard work that we have to do, look, I don't have any physical problems, it didn't burn me out, it was so much easier than what dentists are doing.Please do this, please look at this. Michael: Gotcha. Yeah. if we are already, we have a hygienist our new patients are coming in, we're pretty bustling office, right? And then right now our hygienist left. We're listening to this episode and we're thinking, man I, I want to do this, but we just have too many patients at this time.would you recommend in that situation? Ron: That's when you strategically over 18 months get out of network and half the patients will fall off, which is fantastic because the ones that stay will stay pay and refer because they like your service, but you got to change the mentality of a PPO doctor to an out of network doctor.It's a big change and you need some coaching on it. If it's not me, get a successful other network doctor to talk to you on how to treat, how to present treatment to patients, how to make the appointments in your schedule. It's. It's way different than a PPO. You can't expect a network patients to get the care that they receive in a PPO setting.It's much different. So you gotta learn that. Michael: Okay, interesting. So then, how have the dentists you've taught responded to the model? Like What are the most common difficulties or misconceptions they have when transitioning? Ron: Number one, oh, it's going to cost me money to do a recare visit because I could make so much more money by going and doing blah, blah, blah, blah, blah.And that's their belief. And I say, well, why are you making half the income that I am? And I'm seeing half the patients. I had to change their belief system. And it's the common belief with dentistry that they miss. The biggest reason they missed that is because. Where do we make our money in dentistry?Every dentist misses this. It's the diagnosing. The PPO doctor spends two minutes diagnosing. Why would you do that when I could spend 30 with the patient? If I spent 30 minutes with the patient and you spend two, who's going to diagnose more work? Who's going to get more acceptance? Who's going to do bigger cases?Me, all day long. the thing that makes dentists the most income and the most fun is the diagnosing and helping the patient get through that process. They're not doing that. So when you get the hygienist out of that, and the doctor does more of that, it's great. Keep your hygienist. Keep her doing the scalings.Most of the office I see, 16 percent to 10 percent of their patients are going through scaling and replanting, or less. Where 50 percent of the public has periodontal disease. If you don't have at least 30 percent of your practice going through scaling and replanting, there's a lot of bloody profits being done.It's just a fact. And your two minute exams, I'll fly anywhere in the country. I'll follow you around, doctor, after you do the exam, and I'll find five to fifty thousand dollars worth of treatment every week that you didn't even diagnose or talk to the patient about. So don't give me that bullshit.Thirty seven years, I can't be bullshitted. There isn't nothing you're going to tell me that I haven't seen in dentistry in thirty seven years. I challenge any doctor at that one. I've done this already. Michael: Yeah. Okay. So then how has the dynamic when this happened your team changed the removal of a hygienist?Like, did you need to train your dental assistants differently? And how does this affect the efficiency? Ron: Yeah. I mean, You have to spend time with the hygienist, which was a lot of fun teaching them dentistry. My assistants knew almost as much as I did, and technically with their hands, geez, I had two assistants.They were better with their hands than mine. You should see their temporaries. Their were awesome. They were very good with their hands. So you might be surprised that one of your team members might be just as good, if not better than you. And they're quick. they come up with ways to make things more efficient.So you just spend time with them, nurture them. And there are a lot of smart people that really appreciate that can really help you, but yeah, you have to train them and be patient. It's like a child. You know, If you're at home, what are you going to do? Scream at them all day? You got to be very patient.Michael: Yeah, no, that makes a lot of sense. So then, did you communicate the change to your patients? Or, like, did you face any resistance? if so, how did you overcome that? Ron: At first I did, there's always remarks and dentists, this is one of the things the challenges they have is the patients will mentioned something about the hygienist and most dentists look like, oh, you're doing so bad that you can't even get the hygienist.I flipped that around. I said, look, I spent eight years in school. Would you rather have somebody clean your teeth that's been in school for eight years or somebody that's been in school for two years for the same money? And I had to shut up. Every patient then laughed and says of course, eight years.I go, good. Then you win me today. All right, let's go. And that was the end of it. You built more of a concierge service and a better service. It's like, holy cow, no doctor in this community spends this kind of time with their patients. That's what made us unique. And those are the kind of patients that you're willing to attract, that are willing to pay your fees.Most of my patients were not rich. They were middle class America, but they were looking for better service and they found the money or payment plans in doing a treatment in stages. Michael: I like that. So then is there any fear, Ron, where it's Oh man, I don't ever have time off almost a thing, right?Like I'm going to be called for emergencies for any little thing, for cleanings, all these stuff. It's too much on me. I want to start delegating these things that I kind of don't like like pro fees and stuff like that Where does that mentality go? Ron: Okay. The mentality is Doctor do you like to make money?Well, Of course Well, then you better find a way on how to do a recare and do part of the pro fee You're not doing the full pro fee you're doing part of it. So my sonic cleaner I thought of it as a perioprobe, it just wiggles up and down, because I go through every pocket and look at every tooth and take pictures along the way.To me it was a diagnostic tool. So doctors, it's how you look at things, I looked at it as this has given me an opportunity to find the work that I want to do. All of a sudden I'm doing cases I want to do. So it's the bad attitude that they have, the belief that they have. you got a lemon, make lemonade out of it.It was great. I'm lemonade all day long like this. I was in such a saturated market in Chicago that there was like 15 doctors within walking distance. I was always busy. I made more income. I took more time off and they all were doing the opposite of what I was. And when I told him about it, I go, no, that'll never work.Okay. You keep doing what you're doing, because others clean up here. Michael: Yeah, Ron: works. It works every time. You just have to change your belief system and I'll prove it to him. I've been doing this for so long. Michael: Yeah, no, that's wonderful. Now, real quick. One of the last questions is this model.Cause you mentioned where you were at in the location. Is it scalable for practices in different settings, like urban, rural, large or small, what adjustments would need to be made? Ron: It's easier to do in the rural area because you're the only one there. And if you give better service than any dentist, within 30 miles, 40 miles around, holy cow, they immediately drop all the insurance.They can't believe it. I can give you a bunch of names of a bunch of doctors that haven't to in urban areas where there's a lot of competition. New York City, Chicago, big cities that are wealthier. This is perfect because you don't need a lot of patients. There's patients that want good service in urban areas, period.you don't need a lot of them because it's so condensed. It's not that difficult to find 400 patients. you gotta get a really good marketer, but you gotta learn how to answer the phone. the doctor has to present treatment and treat people well.You have to learn those leadership skills and those presentation skills too. Michael: Awesome, Ron. Thank you so much for this. I appreciate your time. And if anyone has further questions, you can definitely find them on the Dental Marketer Society Facebook group, or where can they reach out to you directly? Ron: Okay.DRS Coaching Systems, Facebook page. Just go there. You'll hear what a bunch of doctors are saying about the coaching. And go to make an appointment with me at pharmaden. net. That's P H A R M A D E N dot net. Yep, at my calendar. that's my nutraceutical company. we figured out at Loma Linda, we did a double blind test and figured out the periodontal disease.If you give them a certain nutraceutical during treatment the outcomes are much better. The bleeding pocket depth was much better. We created that 20 years ago, used that on so many patients. go to there, go to the website, go to the calendar, make an appointment. I'll talk to anybody for free.I'm not an expert, I'm just going to tell you what worked in our office. what worked really well and what we achieved, most dentists are trying to achieve. So I'm not saying I'm some guru, I'm just going to tell you what worked for me. and I'd be happy to show you exactly the same way.I got no special skills. If I could do it, you guys could do it. Michael: Nice. Awesome. So that information is going to be in the show notes below and Ron, thank you so much for being with me on this Monday morning episode. Ron: Thank you very much for inviting me.
In this episode, co-hosts Gary Takacs and Naren Arulrajah discuss the rising appeal of fee-for-service dental care as inflation and economic challenges strain insurance-based practices. They explore how increasing costs, especially in wages, and declining reimbursements from PPOs are pushing many dentists to consider dropping insurance plans altogether. By reducing insurance dependence, dentists can regain control over their fees, enhance practice profitability, and offer high-quality care. This episode highlights the benefits of transitioning to fee-for-service as a sustainable path to a thriving, independent dental practice.
Expert Nerds talk through the complexities of open enrollment, starting with ways to assess healthcare plans and costs. This episode takes a deep dive into specific terminology and scenarios relevant to choosing health insurance coverage. Hosts Sean Pyles and Liz Weston start with an overview of open enrollment period timelines for November and December 2023 before welcoming guest Nerd Kate Ashford to explain deductibles, premiums, HMOs, PPOs and HDHPs. Then, NerdWallet's Tina Orem joins the show to discuss the pros and cons of high deductible plans and the intricacies of Health Savings Accounts (HSAs) and both Medical and Dependent Care Flexible Spending Accounts (FSAs). In the second half of this episode, she zeroes in on selecting optimal health insurance for individual needs, discussing the merits and disadvantages of different health plans, budgeting for healthcare, and how to compare the benefits of an FSA and an HSA. In their conversation, the Nerds discuss: open enrollment, health insurance options, healthcare choices, high deductible plans, premiums, health savings accounts (HSAs), flexible spending accounts (FSAs), optimal health insurance, HMOs, PPOs, HDHPs, health insurance budgeting, FSA vs HSA, the use it or lose it rule, health insurance decision-making, health insurance terminology, healthcare strategies, health plan selection, medical costs, and types of health insurance coverage. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend.
Often when scheduling appointments, it's all about the patient. But what about the doctor or team members? Britt and Tiff give tips for scheduling while keeping efficiency and quality in mind (for both parties). Episode resources: Reach out to Tiff and Britt Tune Into DAT's Monthly Webinar Practice Momentum Group Consulting Subscribe to The Dental A-Team podcast Become Dental A-Team Platinum! Review the podcast Transcript: The Dental A Team (00:01.057) Hello everyone out there listening. I am so excited to be here today. I have snagged the one and only Britt Stone again today to do some podcasting with me. Britt, how are you today? Britt (00:13.087) doing great. I mean, we're cooling off a little here in Arizona and it's a great time of year. Fall's beautiful. The Dental A Team (00:19.89) I agree. I loved the weekend weather. I know you weren't here for all of it. You had an awesome vacation, but it was really truly beautiful. And then I saw, well, Sunday got a little bit warmer. We went for a hike and we were like, well, this is a little bit warmer. And then I saw, gosh, by Thursday we're supposed to be like 95 again. So it's only here for, I think the heat's only here for a moment again. And then we'll drop back down, but it has been a wild. summer, like it's still summer here. I don't know how we're still experiencing summer. And I know, Brett, you and I both grew up here and I think people always ask us like, how do you do it? And we're like, I don't know, it's like three months of heat. And I think this year they challenged us and they were like, the universe was like, I'm gonna give you six months. And then their nature said, no, we're gonna like see if you can handle this. I feel as though I've never experienced anything like this in my life of living here. Britt (01:10.389) I mean, we broke some records. Sometimes that's an exciting thing and sometimes that's not an exciting thing to say. The Dental A Team (01:16.857) Totally agree. Not the records I wanted to break, but that's okay. We're still alive. You guys were still surviving. and I think we both probably, yeah. And I think we both probably can still say that we love where we live. So I love it. Love it. Love it. Thank you for being here. today I really wanted to pick your brain on some efficient appointment, scheduling, tips and tricks for the doctors out there. I really want to speak to, we always speak to both doctors and teams, but I really wanted to speak to doctors today and I wanted to Britt (01:23.351) I'm not trying any place. The Dental A Team (01:46.223) pick your brain a little extra because I you've really, really hard on some efficiency tips within the, you know, cost world as well. So we'll dive more into that. But Britt, from hygiene perspective as well, dental assistant perspective, we've got all of those different spaces. I'm really, really looking at efficient appointment scheduling. And for me, I'm constantly reminding teams, team members and doctors because I think doctors will stick their foot in their mouth sometimes too, to really, really look at what's working well for your practices flow. Like what's going to work best for you. And as the doctor of the practice, like when do you want to do these appointments? Do you want to do a root canal at 8 a.m.? Maybe possibly like do the root canal at 8 a.m. Right? Do you want to do a root canal at 2 p.m.? Would you rather do it, you know, after lunch, before lunch? Like where do you feel the most yourself? and the happiest to do these procedures because if we're just constantly looking at where the patient wants to come in, what's convenient for the patient, that's not always going to give them the best experience. So in that moment of scheduling. The patient might be excited and happy because they got the appointment that they wanted, but when they get there for the appointment, are they getting the best experience that they possibly can based on the flow and energy of the practice? Or did we just schedule you something super late in the day when you're exhausted and tired and you've been working so hard or you had pizza for lunch and you're like, I don't want to do this freaking root canal. Like, I don't know. know my doctor that I worked with side by side for years, hated nothing more than coming back from lunch and having fillings, like interproximal fillings and crown seats for three hours. He was like, this is going to be the worst three hours of the day because it was so much movement. It's like, just want one crowd, like, or one long appointment, right? Like I just needed one patient with three crowns. Like I just want one something long that we can just sit down, dig in, be done. All of that like crazy running around and like sporadic energy. The Dental A Team (03:48.869) for him needed to be earlier in the day when he was more like spry, right? He's just like ready to run. And I could appreciate that too because I felt the very same. And so when we figured that out for this doctor specifically, we were able to really switch the way the day works. It was better for me as his assistant. It was easier for me when I was doing scheduling and the patients actually had a better experience. So when I think of effective and efficient appointment scheduling, it's one of the first places that my brain goes is really what does the doctor want? I think we tend to look at what do our patients want? What does our team want? Our team wants easy and it's easy to let the patient dictate the schedule. But we forget to say the doctors, what do you want your day to look like? And I think Today, focusing super hard on that doctor aspect and really leveling up how much the doctors take into consideration and take that control on within that is what I'm here for today. Britt, what are your thoughts on that efficient appointment scheduling and from a doctor's side, like a doctor's angle, what could that look like for them? Britt (05:00.515) with you and everyone's different right some doctors want the big things in the morning and the smaller things in the afternoon some function the opposite and the reason why ultimately we want to know what doctor wants and how they're gonna work best is because one when doctors always are limiting factor right so like when we can have them functioning at their best everything's gonna run a little bit smoother and so like you said when it comes to guiding patients in the schedule think of What's going to help everything over all run smoother? Because that's going to give the patient a better experience. The team's going to be functioning a little bit better. The day's just going to run smoother when our limiting factor, which is doctor, is able to function at their best. And when they're functioning at their best, they're also going to be the most efficient. So I love that when it comes to taking that into account. And we'll talk about some things today that are even some like good like numbers or metrics to know of and be aware of to see like, it working? Is it not? Where are we? What can we improve upon? Right? Because at the end of the day, I know all my doctors, right? We want to be able to also like produce as much as we can in the time we're there, right? You're spending time away from your family, you're working. So how can we do the most with the time that you are spending at the office? And it does come down to scheduling and there's some ways to track it to know exactly how we're doing. with this, whenever I start to talk numbers, I'll always say, we always want patient experience to be fantastic. And of course, quality of work to be fantastic, which we know you guys do as well. And there is a point where you can like push that line a little too far. So when we're talking about these things, even when it comes to scheduling, quality of work and quality of patient experience are always top of mind. we make sure we remember those. But some good numbers to look at to see how we're doing when it comes to scheduling will be like your doctor production per hour. So do you know how it's averaging out so you can take your whole entire month? How many hours did you work in that month, are patient hours? We know you guys work a lot more hours, but how many patient hours did you work? And what's your production per hour? Because that's when it comes to efficiency or how is our block schedule working. That's kind of what we're playing with is how much can you do within the time that you have? And if that number is low or not where we need it to be, then Britt (07:17.377) How can we be more efficient, schedule more appropriately with the correct production, or tighten up the schedule if we can and still giving that a great experience and the quality that we need to have there. What can we do to get that production per hour up? So it's a good number for doctors to track. If you don't know your number, figure it out, super easy. What did you produce last month? How many patient hours did you have available on the schedule? divide it and it'll give you your production per hour and then you know where you're starting and then you know where you can go. The Dental A Team (07:51.121) I love to do that formula as well in looking for open hours on the schedule because it really, really shows us how efficient or effective we could have been or what we could have produced as well. So efficient appointment scheduling, think with the block scheduling, you guys, we talk about block scheduling all the time. So we're not gonna dive into block scheduling a ton today. There are a million podcasts on it. Like reach out to us, Hello@TheDentalATeam.com if you need more information on that. So we're not going to do that right now, but when you do have that set, which is what Britt and I were alluding to, like where do you want to do these procedures? Where do you want them scheduled? How do you want your day to flow? When you have those things set, meaning you have to know how long it takes you and your assistant to complete certain appointments, you need to know. how many of each appointment you need in a day to get to your production projections, right? Like what's my goal for production per day? I'm gonna build that out and do a perfect day schedule and then I'm gonna go back through and like Britt said, really count my hours. And you can do this for hygiene, you can do this for a doctor, count how many hours were available to be scheduled and divide your production by that to get your dollar per hour, to get your hygienist dollar per hour. If you've got assistants who are operating as producers because they're FDs or whatever you've got in your state, you can do it for all of those different spaces and really see how well you or your associate or your high-dense or dental assistants are really paying for yourselves and what that could look like. Now on the flip side of that, I like to go in then and say, okay, well, this is my dollar per hour goal. Owner doctors, Britt. Tell me if I'm completely off base here. I'm typically gonna have my owner doctors 850 plus per hour. My associates, I'm like 550 to 750. I would love to see an associate at 850. Totally possible. Owner doctors, I would love to see you closer to like 1050, 1200. Like those are the numbers I would love. PPOs, like they're gonna drastically change that for you. But we can work around it and it's the time of year to ask for being pieces, all those pieces. So we don't need to get into that today, but those are like. The Dental A Team (10:04.485) good goals to mull around. So then what I do on that note of the schedule, right, is look at these were my available hours. Well, as I'm doing my available hours, I'm also going to count my open hours. I just did this actually. I was in Utah a couple weeks ago with a prized practice and I just did this for him because he's like, tiff, like, we just tanked. I don't know what happened. And so I went through the whole year and I did available hours. Britt (10:22.58) Thank The Dental A Team (10:33.214) And then at the same time, I had one screen was available hours. The screen over here was open hours and it was how many for each provider I did the doctor, I did all of his hygienists and I did it for each one. And I said, okay, so we're about 40 to 50,000 off from the goal we've set this year. Let me show you where it's at. And we could literally pinpoint the month that had enough open hours just for him alone, not even including hygiene that was that gap. the month, like not even just production for sure. You can say like, we were down a little bit here, but there was a month that he should have far exceeded the production, the monthly production goal that they had set that he was still under. But you could easily see because we had that perfect day scheduling in, we had the blocks in there. We were able to easily see how much he should have been doing and then calculate it backwards and forward. So we could do the lab measures to see Why didn't we hit those goals and where was it and how could we have been more efficient with our appointments? And then the lead measures to see, okay, well, if that's the case, what do we have to do moving forward? So I love that you said to do that. And I think, too, what you're alluding to and what you're getting to with that is really looking at what are you doing now? Because then you can see, am I using this time efficiently and effectively? Like perhaps you've got the perfect day schedule in there. and you've got your blocks, but maybe you did it two years ago or even six months ago and you're like, I'm still not where I thought I would be. So now go back through and see one, what were your open hours? And then two, is it actually working? Cause Brett, think I'm, you know, I've experienced this and tell me if you have where I've gone in and doctors are like either scheduled, not enough time. for certain things and they're going late and now patients are like, but we're using blocks. And I'm like, but these patients are like waiting, like there's such an issue here. Or they're scheduled too long and then they've been done for an hour before the patient gets back. But on the schedule, they're not changing it. And so there's no reality set in. Have you seen that as well where doctors are like, well, I'm full and practices, right? Our teams are like filling the white space, it's full, but it's still not reaching goals. Britt (12:57.111) Yeah, and though agreed and you're right on your numbers. I'm like 500 minimum That's my low end for anyone per hour that you should be hitting so if you're not there Hey, that's an opportunity for you to get there and know where a benchmark is and agreed in a PPO office 500 to 850 like it's it's attainable fee for service and Just to kind of clarify one thing when you say owner doctor right getting that 850 or plus Even easily some doctors into like thousand pretty easily or more Owner doctors usually when you start to bring on associates you get to do the more complex things that you like Usually to do and so you're getting those higher dollar procedures while associates are taking care of some of the lower dollar one Which is why we say that so just to give a little context behind some of those numbers and agreed when we look at open space or how we're scheduling, then it's like, right, if I'm able to produce $850 an hour and I've just got like 30 minutes of slush time in there that we're not using, that's like opportunity costs. That's like 400 bucks easy that we're losing that if we scheduled better. We could have added another $400 in that day just with that 30 minutes when it comes to scheduling. So starting to see the schedule in that way, it's not just full or not. It's what's the quality of the things that you fill it with and looking at those open space, like what's the opportunity cost? it is, it'll take your production per hour real quick when you've got that open space, because it's a big zero in there. So filling the schedule. which I know everyone wants a full schedule, but it's like, all right, what are we doing and what do we need to work on and are we filling it in the right way? So just viewing the schedule in that way and helping your team to see it, right? Sometimes team members don't see it that way, but you see it that way now and helping them to understand what we could put in there. And with timing, when it comes to efficiency in the schedule, right? If doctors... Britt (14:57.449) always give time for your assistants. So I'm not saying like tighten up your schedule so much and forget about your assistants and the time they need to turn around a room or do what they need to do. But it might be a good time if you're not hitting the production per hour that you want to, to start kind of seeing how long does it actually take you to do procedures and do a time study and say, all right, how long does it take? Can we schedule smarter or more efficiently with reality of how long it takes instead of kind of adding in some buffer time? The Dental A Team (15:25.663) Totally, totally makes sense. And something you said there was really that cost per hour that you just lost with that slush time. So there's that happy medium, you guys, that Britt is mentioning where it's like patient experience, right? Patient experience trumps everything. And so you need that slush for the patient experience, fine, but really evaluate, did you actually need it? So there's a lot of practices we work with that the doctors are like, I need to build relationship. 100 % we are relationship driven people and we are a relationship driven company. So we are never going to discredit that or take that away from you. But what tools are we using to help build that relationship? Is your support team supporting you in that? Are they passing off information? Are they having conversations with you, with the patient? You know, are they just standing there stoic and quiet like, I'm waiting for you to initiate, right? Like your dental assistant needs to be like, engaged and having conversations because if that's all on you, it's going to take you extra time and you're in there for a very short amount of time in comparison to your support team, whether it's hygiene or dental assistance. So ensuring that they're giving you that proper information and those handoffs and really involving you in conversations that they are or have had with the patient far outweighs and exponentially increases that relationship with the patient. And so it. decreases the amount of time and effort you're having to put in to create that relationship and to add that extra value. You're actually adding more value because they feel a relationship with two or three or how many ever of you there are, they're feeling that relationship with multiple people and they feel an attachment to the practice. so take some of the stress off yourselves, ask the support team to really support you, right? Call them your support team. That's what they are there. to do, especially your dental assistants, they're there to support you and support the patient and see how can I increase the efficiency, the timing, right? The experience without making things longer. Because now that 30 minute slash time, that potentially $400, right? You can slide something else in there and know your patient got a better experience potentially. The Dental A Team (17:44.809) than what they may have with that slush time, right? Patients wanna be in and out as well. You've just gotta do it in a way that doesn't feel rushed. And number one, your treatment has to be good. Your work needs to be good. You've gotta take the time that you need to accomplish great dentistry and then make everything else really, really efficient and effective. People appreciate that. People appreciate when you value their time as well. and you're not just kind of dilly-dallying. You're like, yeah, let's get this done. It's gonna be freaking amazing. And as long as you keep that high energy there, they're gonna trust it they're gonna come back. Britt, you have this incredible sheet that you showed us recently for consultants. You've been working your tail off on. We don't even talk about the whole sheet, but kind of talk for a second about how you're doing the cost analysis by procedure, maybe even just like a crown, like to really not only look at your doctor per hour, dollar per hour doctors, but also to look at how effective is the cost management per hour or per procedure. So walk us through that just real quick and they can get a little smidgen of an idea. Britt (18:58.399) Yeah, some of the things that we'll work through with our clients when we know, all right, let's look at how efficient we're running and what the cost is for things is looking at what does it actually cost us for a procedure? like breaking it down by the amount of time, how much is like the facility costs? How much does it cost me for my assistant? How much am I paying the doctor associate for this procedure? And then what's my lab fee? What's the cost of all the supplies that are used for that procedure? So I can truly see what is that overhead for that procedure. And especially for some of our lab procedures, especially when you get to like your all on X cases or sleep appliances even, places where depending on where you've got your fee or what insurance fees that you're contracted with. The Dental A Team (19:39.098) for sure. Britt (19:47.209) Sometimes that profitability is not so great or sometimes even in the negative on some of these procedures Which just allows you that information allows you one. It's a reality check a gut check a little bit Allows us to straddle up strategize a little bit better to see all right What procedures are worth us doing right? I'll say if you love doing it then let's figure out a way to do it to where it's also Profitable so it makes business sense along with the things that you love to do If you don't love to do it and it's not super profitable for you maybe you refer those things out because it's just not necessarily like completely worth the time. But until you start to kind of look at those things and know what the cost is, you don't have the information to make some of these decisions. And also it'll help you to guide you on insurance plans we are in network with. When we get to the point of being able to go out of network, what ones do we want to go out of network with because our profitability on those procedures are just so low. So it's just good information to have to dig in to see, all right, where are we? and you can play around with time, right? And efficiency. If you can go from 90 minutes to 60 minutes for something, that's gonna impact your profitability on that procedure. And it might just be that little switch if we can do it a little more efficiently that allows us to be like, okay, that makes business sense for us to do that procedure. We just need to ensure that we're not taking a ridiculous amount of time on it. The Dental A Team (21:11.642) Yeah, I totally agree. I love that. And it made me think of a client that I have near and dear to my heart that was doing all on X cases in his practice. he liked them. He thought he loved them. And he got real tired of them real quickly. And we did a little cost analysis and really saw that, well, he realized for one that he brought them in because he thought they were going to be game changer for the practice. And it was going to be this Britt (21:24.599) you The Dental A Team (21:41.62) lucrative situation where he could take a step back and he could do a couple all-in-x's a month and be done. Like he didn't have to do all of these other little pieces. And so he thought, that's going to bump production collections. My overhead is going to be fantastic. I'm going to be profitable and I'm going to do less. And so he brought all-in-x in-house and come to find out, right? It's a lot of freaking work. And he was not, he wasn't bad at them. He was fantastic at them, but the follow-up. And the denture work like who loves like if you love dentures, like you better shout it to the world because there are doctors out there that need to know you're there. We need to know where you are because we need to send you all of our dentures. Okay. If you love them, shout it to the world, right? Shout it from the rooftops. And he just was like, this is a pain in the butt to follow up and how many post-op appointments there are and adjustments and the dentures are this denture broke and I've got to remake it and I've got another lab cost and I've got Britt (22:26.187) Thank you. The Dental A Team (22:39.102) So when we did that kind of cost and time analysis, he realized real quickly, because when he came to us, he's like, I am, he has like 72 % overhead. He's like, where's my profitability? Right? He's like, I'm doing all my nexes. I'm like, well, let's figure that out. And so we realized real quickly that something that he semi liked that he thought he would love, that he thought was going to be a game changer for his practice was actually costing him money and losing profitability for the practice because of just all of the pieces that were involved. And he was like, you know, I don't like it that much. Like I'm really not like, I'm really trying to get my feet wet with it. And it's a lot to deal with. It's a lot to handle. And Tiff, don't think I actually want to do this. I was like, fantastic, start referring them out. That's, it's okay. That's why oral surgeons are here. That's why, you know, there are other people who do love to do it. And for my oral surgery practices, like they are incredibly lucrative. They are a really great. tool for those practices because they're not doing fillings and crowns and crown seats and limited exams and re care exams and new patients with it. So for this specific doctor, we did exactly that where we did this cost analysis, we did this appointment efficiency analysis, really looked at his dollar per hour, his hygiene dollar per hour, his open hour, like we did all of these things that we're talking about you guys and came down to what is it that you want to do in your practice? And what are you doing that you're trying to save your practice with or create something that you don't actually love that could be costing you money and time. So we had to really take that analysis. Like he also, you know, hates doing fillings. So we're trying to figure that out, but most doctors are like, get these fillings off my schedule. So, you know, we try to figure that efficiency piece out too, but I think when it comes down to it, these steps that you're saying to take. really are the make or break to really figuring out what your practice looks like and what it could look like. So inventory wise, right, I would say go through and make sure that your appointments are the way that you want them and the length of time that you want them. And encourage your team, you guys, when you go long or when you go short on an appointment, change it on the appointment book so you can see the reality because then I'm gonna tell you, like Britt said, I want you to go back. The Dental A Team (24:57.214) through and do an analysis of your actual dollar per hour. So in comparison to your production, what was your actual dollar per hour? And also look at your open hour time. So what could you have produced if we had scheduled more effectively? And then also I would go through on your procedures and do this cost analysis because I do think hand in hand with the appointment efficiency goes this. You want an efficient and excelled patient experience. and you want an efficient appointment and to know your dollar per hour that you're supposed to be getting in conjunction to what the cost is per procedure based on the time you're taking, I think is just like the magic sauce of really figuring out what you can do with your practice. I would do those things. And if you need help with them, if you need ideas, if you're like, I don't understand this cost analysis thing, because you guys, it was over my head for a split second too. And I was like, wait, say that again. Just reach out, Hello@TheDentalATeam.com re-listen to this podcast, obviously, but always reach out. You guys were here for that. So Britt, is there anything that I missed in those action items or last minute thoughts you want to give to these incredible doctors who are listening today? Britt (26:13.717) Yeah, I think those are great action items to take and I think. This is for our doctors that you're banging your head against the wall like how am I not as profitable as I want to be, right? What are the issues? Or you're like, I don't think we can fit anything else into our schedule, but I'm not as profitable as I want to be. These are the things that are going to give you the information to bring some reality to it. And sometimes it can be those conversations of like, hey, we've got those doctors, we've got those people we love them who are a little chatty and you can still have a great place to experience and not talk so long. So like sometimes that's the reality of like, hey We make a choice, right? Either let's adjust that, still chat, but like, it doesn't have to be as long and we can fit a little bit more into your schedule. Or like, you get a little bit more time for talking and we're as profitable as we can be or as efficient as we can be with our schedule if that's the ultimate patient experience you want to have. And so I'll just allow you to make smarter decisions. I mean, I've had some doctors that are in rural areas when it comes to certain types of procedures that maybe aren't the most profitable, but they're like, hey, I want to be able to provide that to my community. Awesome. I love that. Let's just be aware of it, see if there's anything we can do to manage the overhead and make it efficient. And then we may just manage how many of them that we do out in one day or one week or one month to ensure your space to kind of make up the difference with other procedures. The Dental A Team (27:38.389) Yeah, okay, awesome. You guys, this was incredible. Britt, thank you so much for always being open to diving into more numbers with me than we do on a lot of the podcasts. This one or one is super dedicated to our amazing doctors who are out there really just trying to make sure that you're giving the best to your patients and that you're getting the best for yourselves because we at the Don't Ateam truly believe if you are giving exactly what people. deserve if you're giving that experience that people deserve when they come to a dental practice, you will reap the rewards. And those rewards should be insane profitability. In our opinion, you should be insanely profitable. You should be living your dream life because you're giving an incredible thing to patients that they can't get anywhere else. So with that said, go do these things, go figure it out. If you need help, if you are a current client, reach out to your consultant, or to our consulting team because we're here to help you with that. If you're not yet a client and you're a future client or you're someone who's just listening because you love listening to our voices, reach out. Hello at thedoubleAteam.com. You guys, we're here to help you and we will give you whatever information that we possibly can because we just want everyone to experience the best lives you truly possibly can. So Britt, thank you so much for being here. I cannot wait to hear how everyone loves this podcast, so drop a five star review below. We wanna hear how much you love this. We wanna know how much you love diving into the numbers side and really, really effective doctor style items. Like I'm so excited for this one. So Britt, thank you everyone. Have a great rest of your day.
In this episode of the Less Insurance Dependence podcast, Gary Takacs and Naren Arulrajah explore the concept of a hybrid dental practice model. They begin by discussing the definition of a hybrid model, which involves a mix of participating in some PPO insurance plans while also offering fee-for-service care. For many dental practices, the journey to a fully fee-for-service model may seem daunting, especially since around 90-95% of U.S. dentists are in-network with PPO plans. For these practices, transitioning to a hybrid model can serve as a stepping stone, allowing them to gradually reduce insurance dependence without fully stepping away from PPOs. The hybrid model can be a viable long-term strategy for practices wanting to balance PPO participation with fee-for-service offerings. It provides an opportunity to improve profitability and patient care gradually while maintaining some level of insurance participation when necessary.
Join host Kate Welker on Money Roots as she demystifies the complexities of health insurance during the crucial open enrollment period. This episode focuses on understanding employer-sponsored plans, including HMOs, PPOs, and HDHPs with HSAs, providing listeners with essential insights to make informed decisions. Kate offers practical advice on comparing deductibles, co-pays, and network options, ensuring you find the coverage that best meets your needs. Additionally, she explores the healthcare exchange for those without employer coverage, guiding you through the process of selecting the right plan. Tune in to maximize your plan's potential and ensure a thriving financial future with your health insurance choices.Takeaways: Understanding the different types of health insurance plans is crucial during open enrollment. When comparing health plans, analyze deductibles, co-pays, and network coverage options thoroughly. Utilizing Health Savings Accounts (HSAs) can provide significant tax benefits and savings opportunities. It's important to evaluate your healthcare usage to choose the best plan for your needs. Always check if your preferred providers are in-network to avoid unexpected costs. Estimating your income accurately on the healthcare exchange is vital to avoid penalties later. Health insurance can be a complex landscape, particularly during open enrollment. Kate Welker offers an essential guide to navigating this process effectively. She starts by dissecting employer-sponsored plans, including HMOs, PPOs, and HDHPs that can be paired with HSAs. With a clear explanation of each plan type, Kate articulates the importance of comparing deductibles, co-pays, and provider networks, encouraging listeners to create a side-by-side comparison to understand their options better.Moreover, Kate delves into the advantages of HSAs and FSAs, explaining how these accounts can serve as valuable tools for managing healthcare expenses. She highlights how employers may contribute to these accounts, which can significantly enhance savings. By illustrating how to evaluate prescription drug coverage and the necessity of confirming network status with healthcare providers, Kate equips her audience with the knowledge needed to make informed decisions about their health insurance.For those not enrolled in employer-sponsored plans, the episode transitions into an exploration of the healthcare exchange. Kate emphasizes the importance of accurately estimating income as it relates to premium tax credits, providing guidance on how to avoid common pitfalls that can lead to back charges or overpayment. By analyzing the various metal tier plans available on the exchange, she helps listeners understand the balance between premium costs and coverage quality. Throughout the episode, Kate urges her listeners to utilize available resources, ensuring they feel supported in their quest for effective health insurance solutions.Resources:Kate Welker's episodes and blog articles at Rooted Planning Group: Rooted Planning GroupThrough this episode, listeners are encouraged to grasp the intricacies of health insurance thoughtfully. Be sure to tune in to the full episode of Money Roots for a comprehensive understanding and more expert advice from Kate Welker. Stay informed and continue to sow the seeds of financial knowledge for a robust financial future
In this episode, Carol Yeh-Garner opens up about the frustrations she faced with her traditional health insurance, sharing a personal experience when her daughter was denied an appointment despite paying high premiums for a PPO plan. This led Carol to explore alternative options and ultimately discover health shares, a community-driven approach where people pool their money to support each other's healthcare costs.Carol dives deep into how health shares work, particularly through her experience with ClearShare and the Wholistic Savings Plan. She explains the benefits, including the freedom to choose any doctor for three visits per year, as well as coverage for services like acupuncture and chiropractic care. These alternatives not only offer cost-saving advantages but also provide more flexibility in managing healthcare.Additionally, Carol discusses the convenience and support Health Share offers for urgent care and pre-planned medical procedures, such as X-rays, MRIs, and surgeries. She emphasizes how Care Coordination within the plan simplifies the process, making it a valuable alternative for those frustrated with traditional insurance. Tune in and enjoy the insightful conversation!HIGHLIGHTS[02:32] The Significance of Health Insurance for Carol[04:17] About Health Shares[06:17] The Wholistic Savings Plan[14:43] Health Limitations on the ClearShare Program[19:42] Transparency of What the Pool Looks Like of Funding[24:00] The Care Coordination[34:49] Lifestyle Changes That Transform LivesWork with CarolWebsite: [https://www.youngliving.com/us/en/company/yl-health-plans?enrollerId=1533467&sponsorId=1533467]UPGRADE YOUR WELLNESSSilver Biotics Wound Healing Gel: https://bit.ly/3JnxyDDCode: BEAUTIFULLYBROKENLightPathLED https://lightpathled.pxf.io/c/3438432/2059835/25794Code: beautifullybrokenSTEMREGEN: https://www.stemregen.co/products/stemregen/?afmc=beautifullybrokenCode: beautifullybroken CONNECT WITH FREDDIE Check out my website and store: (http://www.beautifullybroken.world) Instagram: (https://www.instagram.com/beautifullybroken.world/) YouTube: (https://www.youtube.com/@BeautifullyBrokenWorld)
Master your employee benefits during open enrollment with this episode. Jess and Brandon break down how to analyze health insurance options like HMOs, PPOs, and HDHPs, and explore often-overlooked benefits like vision, disability insurance, HSAs, FSAs, and more. Learn key strategies for maximizing your benefits, protecting your income, and taking advantage of hidden perks like adoption assistance and legal plans. Tune in for a complete guide to help you get the most out of your workplace benefits package.Watch this episode in video form on YouTube: https://www.youtube.com/channel/UCP55O4Ku4dukHcK0kExhpcATo apply to be a guest on the show, visit https://www.thesugardaddypodcast.com/guests/intake/ If you'd like to leave us a question to be answered during future episodes, you can do so at:https://www.speakpipe.com/thesugardaddypodcastYou can email us at: thesugardaddypodcast@gmail.comBe sure to connect with us on socials @thesugardaddypodcast we are most active on InstagramLearn more about Brandon and schedule a free 30-minute introductory call with him here: https://www.oakcityfinancial.us
In this Episode of the Less Insurance Dependence podcast, Gary Takacs is joined by guest Jordan Comstock to discuss the importance and implementation of in-office membership plans. Gary emphasizes the significance of these plans, particularly for dental practices aiming to reduce dependence on PPOs. He introduces Jordan, the CEO of BoomCloud, a company that helps dental offices create and manage these plans. Jordan highlights the benefits of in-office membership plans, such as generating predictable recurring revenue and retaining patients. He explains that setting the right pricing based on local demographics is crucial for success. Gary and Jordan discuss various strategies to maximize the potential of membership plans. They also explore the potential of marketing to business owners, who can offer membership plans to their employees as a cost-effective alternative to traditional dental insurance. Overall, the episode provides valuable insights into creating and maximizing in-office membership plans to enhance practice profitability and patient retention.
753: Maximize Your Margins: Slash PPO Write-Offs and Skyrocket Your Dental Profits – Dr. Barrett Straub & Miranda BeesonDo you want to own a practice just for someone else to control it? If not, don't miss this episode! Kirk Behrendt brings in Dr. Barrett Straub, ACT's CEO, and Miranda Beeson, ACT's director of education, with a treatment plan to get you out of the thumbs of insurance so you can achieve financial freedom and personal fulfillment. With careful, strategic planning you can start removing some — or all — PPOs and reshape your future! To learn the steps to a better practice and a better life, listen to Episode 753 of The Best Practices Show!Learn More About Dr. Straub & Miranda:Send Dr. Straub an email: barrett@actdental.com Join Dr. Straub on Facebook: https://www.facebook.com/barrett.d.straubRegister for Dr. Straub's live workshop (August 23, 2024): https://www.eventbrite.com/e/act-dental-gaps-method-the-formula-for-financial-freedom-tickets-776572418007Send Miranda an email: miranda@actdental.com Follow Miranda on ACT's Instagram: https://www.instagram.com/actdentalMore Helpful Links for a Better Practice & a Better Life:Subscribe to The Best Practices Show: https://the-best-practices-show.captivate.fm/listenJoin The Best Practices Association: https://www.actdental.com/bpaJoin ACT's To The Top Study Club: https://www.actdental.com/tttSee the ACT Dental/BPA Live Event Schedule: https://www.actdental.com/eventGet The Best Practices Magazine for free: https://www.actdental.com/magazinePlease leave us a review on the podcast: https://podcasts.apple.com/us/podcast/the-best-practices-show-with-kirk-behrendt/id1223838218Episode Resources:Watch the video version of Episode 753: https://www.youtube.com/@actdental/videosRegister to access ACT's PPO Roadmap: https://www.actdental.com/free-resources/ppo-roadmapRegister to access ACT's Say This, Not That: https://form.jotform.com/221665137804153Email Dr. Straub for ACT's Capacity Tracker and Patient Segment Scorecard: barrett@actdental.com Main Takeaways:Whether you're looking to drop PPOs or not, try out ACT's PPO Roadmap.Insurance isn't
What happens when you decide to take your dental practice out of network with major insurance providers like Delta? We'll take you through our unique journey and the strategic moves we made to ensure a smooth transition. From navigating patient retention to leveraging insurance participation for growth, we share the real-world impacts and successes we experienced. Learn how to maintain profitability while still working with PPOs, and understand the critical timing for dropping certain insurance plans. Plus, discover the pivotal role your team's mindset plays in communicating your practice's unique value and experience to patients.We also delve into the logistical challenges we encountered, such as evolving dental fee structures. Hear about the lessons we learned from initial issues with inaccurate estimates and lower-than-expected reimbursements, and how aligning fee schedules with realistic operating costs led to a 12% increase in total fees. Through trial and error, we found ways to ease the transition for patients, allowing us to thrive despite rising labor costs. Finally, we celebrate our team's incredible attitude and achievements, sharing insights to inspire confidence in your own path to success in dental practice management.Are you ready to completely systematize and document the way you do things at the practice. The DPH OmniPractice Total Team Success Program is just that. Online Instruction, one on one sessions, sample documents, and worksheets...We take your office through 7 phases of practice transformation and teach you how to manage it all with your team. If you want a team driven systematized practice, go to dentalpracticeheroes.comDPH CoachingAt DPH, we don't coach you on anything we haven't personally accomplished ourselves. We provide: One on One Coaching for Doctors, or Doctors and Teams Group Coaching Programs for Teams Minicourses on every practice management topic you need to know Team Coaching for your Front Desk Exactly what you need to level up, whatever level of practice you are at. Visit www.dentalpracticeheroes.com to Learn more, and check out our new 7 Phase OmniPractice Total Team Success Program to learn how to systematize your office, all while creating a leadership team to help you manage it all.
This time on Code WACK! How do Managed Care health insurance plans hurt patients? Why is it legal for commercial health insurers to use Denial-of-Care as a business model? And what is one organization doing to call attention to such issues? To find out, we spoke to Kimberly J. Soenen, founder of “SOME PEOPLE,” a Chicago-based not-for-profit organization and multiverse channel dedicated to removing barriers to healthcare access. Soenen is also the COO of AMPERS Radio Association in Minnesota, but the views she expressed in this podcast are solely her own. This is the second episode in a two-part series with Kimberly Soenen. Check out the Transcript and Show Notes for more!
In this week's thrilling episode, join Casey and Jarrod as they explore the pivotal moments when dentists and practice owners must assert themselves against challenges posed by employees, patients, DSOs, and PPOs, along with the advantages that can be reaped from such standoffs.Interested in more info on how to: Earn More, Save More, and Retire EarlyUpcoming Tour Dates: Go to our EVENTS page for infoFacebook: Four Quadrants AdvisoryInstagram: @fourquadrantsadvisoryLinkedIn: Four Quadrants Advisory
In today's episode, Dave Monahan, CEO and founder of Kleer peels back the layers of dental patient behavior and its impact on practice performance. The discussion also delves into the potential pitfalls of negating to maximize the value of your uninsured patients, operating with a high-volume of PPOs, and acquiring new locations without a focus on same-store growth.Dave illuminates a path for dental practices and DSOs to amplify performance that's both data driven and patient-centric — you won't want to miss it.This episode is sponsored by Kleer.
In this episode of award-winning The Productive Dentist Podcast, your host Dr. Bruce B. Baird discusses the complexities and considerations of starting your own dental practice. With decades of practical experience in the dental profession, Dr. Baird provides valuable insights into several strategies for aspiring dental practice owners, addressing common questions such as whether to start a fee-for-service practice or sign up for PPOs at the beginning. Join Dr. Baird as he offers his wisdom on navigating all of the challenges and opportunities practice ownership can bring.
698: 2024 Trends in PPOs - Shelley DeGroffHave you ever wondered about PPOs or struggled to understand them? Kirk welcomes Shelley DeGroff to shed some light on this complex relationship between dental practices and insurance. Shelley is the founder and CEO of PPO Advisors, a firm that helps dental practices turn their PPOs into profit. She talks about the trends of 2024, emphasizing the importance of understanding the percentage of write-offs and the need to evaluate fee schedules. The conversation concludes by encouraging dentists to play the insurance game with confidence and seek expert help when navigating the complexities of PPOs.Learn More About Shelley and PPO Advisors Follow PPO Advisors on Facebook: https://www.facebook.com/PPOAdvisorsLLC Learn more about PPO Advisors: https://ppoadvisors.comMore Helpful Links for a Better Practice & A Better Life:Subscribe to the Best Practices Show: https://the-best-practices-show.captivate.fm/listenJoin the Best Practices Association: https://www.actdental.com/bpaJoin ACT's To The Top Study Club: https://www.actdental.com/ttt/See the ACT Dental/BPA Live Event Schedule: https://www.actdental.com/event/Get the Best Practices Magazine for free: https://www.actdental.com/magazine/Please leave us a review on the podcast: https://podcasts.apple.com/us/podcast/the-best-practices-show-with-kirk-behrendt/id1223838218Main Takeaways: Evaluate fee schedules and understand write-off percentages to ensure proper reimbursement.Regularly audit EOBs to identify discrepancies in fee schedules and reimbursement.Proper credentialing and negotiating contracts are crucial for setting favorable rates.Be aware of network shares and changes and regularly assess your PPO mix.Snippets:01:14 Introduction to Shelly DeGroff and PPO Advisors06:20 Write-off Percentages08:13 PPOs and Fiscal Years09:41 Fee Increases and Negotiations10:41 Evaluating Fee Increases11:39 Master Fee Schedule13:01 Credentialing and Setting Rates16:23 Understanding Umbrellas and TPAs20:43 The Importance of Credentialing22:01 Negotiating Contracts23:01 2024 Trends Continued25:21 Network Shares and Changes28:09 Switching PPO Mix30:32 Making Changes and Seeking Help32:58 Conclusion and Contact InformationShelley DeGroff Bio:Shelley DeGroff, founder and CEO of PPO Advisors, knows dentistry. After graduating from the University of Nebraska, she began working as a dental receptionist in a nearby dental office. After completing her certification as a dental assistant, Shelley transitioned to become a successful office manager. It was in that role that Shelley began noticing the need for PPO negotiations for her employing doctor. This experience began the business model for PPO Advisors, which has now become a nationwide industry...
Shared Practices | Your Dental Roadmap to Practice Ownership | Custom Made for the New Dentist
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686: Cracking the Hygiene Code: How Many Days Are Right for Your Practice? - Miranda Beeson & Dr. Barrett StraubHave you ever wondered how many days are right for your practice? Should you expand and if so, what are some best practices you can apply to succeed? Kirk welcomes Miranda Beeson and Dr Barrett Straub to answer these questions and more. They discuss the need to make decisions based on core values, the impact of PPOs on profitability, and highlight the importance of maximizing capacity and building effective systems. You'll get a formula for calculating the number of hygiene hours needed, how to make data-based decisions, and make the best decisions for your practice.Episode Resources:Subscribe to The Best Practices Show podcast Join ACT's To The Top Study Club See ACT's Live Events Schedule Get The Best Practices Magazine for free! Rate and review the podcast on iTunesMain TakeawaysMake decisions based on
Are you wearied by the low reimbursements from Dental PPOs and considering if there's a different, better way to improve your practice's profitability? Then you need to tune into this compelling episode of The Dental Marketer, as I interview Dr. Ben Burkitt, who's been in your shoes and emerged victorious. After implementing a revolutionary change in his own dental practice, Dr. Burkitt demystifies the process of dropping dental PPOs and its potential ripple effects to the bottom-line profitability of your dental practice. Learn how you can switch from being insurance driven to being patient-centric and multiplying your revenue in the process.What You'll Learn in This Episode:Why dropping Dental PPOs may benefit your dental practiceHow to perform effective analysis of profitability for different proceduresThe significance of the 20 code collection score in this analysisHow dropping low-paying insurance plans won't necessarily lead to a loss of your existing patientsEvidence-based tips to attract patients from better paying insurance plansAnd not just that, Dr. Burkitt takes us through his own experiences - the reservations, the risks, and how he managed it all while driving remarkable growth in his practice's revenue. Queue this podcast episode up today and dive into a data-driven approach to revamp your dental practice!Guest: Dr. Benjamin BurkittPractice Name: We Care Dental CareCheck out Ben's Media:Website: https://www.raisingdentalincome.com/Facebook: https://www.facebook.com/benjamin.fowlerburkittEmail: ben@raisingdentalincome.comOther Mentions and Links:Dr. Burkitt's Other Podcast Episodes:MMM [INSURANCE] HOW TO STRATEGICALLY START DROPPING INSURANCES WHILE MAINTAINING A HIGH PRODUCTIONMMM [INSURANCE] BEHIND THE SCENES OF DROPPING PPOS AND DOUBLING YOUR PRACTICE'S PROFITABILITYWHAT IS HYBRID SCHEDULING AND WHY IT IS KEY TO MAXIMIZING PRODUCTIONHOW TO DROP PPO INSURANCES (SO YOU CAN GET PAID FAIRLY FOR YOUR SERVICES)226: DR. BENJAMIN BURKITT | DIGGING OUT OF THE "CORONA CRATER"Software/Services:Google AdsMeta AdsGoogle My BusinessInsurance Companies: CignaHumanaUnitedHealthcareConnection DentalUnitas DentalDelta DentalBooks/Publications:The Dropping Dental PPOs Playbook: A Guide to Going Out of Network Without Going Out Of Your MindThe Goal: A Process of Ongoing ImprovementEstablishments/Brands:ToyotaInternational Brotherhood of TeamstersUPSCVSHost: Michael AriasWebsite: The Dental Marketer Join my newsletter: https://thedentalmarketer.lpages.co/newsletter/Join this podcast's Facebook Group: The Dental Marketer SocietyPlease don't forget to share with us on Instagram when you are listening to the podcast AND if you are really wanting to show us love, then please leave a 5 star review on iTunes! [Click here to leave a review on iTunes]p.s. Some links are affiliate links, which means that if you choose to make a purchase, I will earn a commission. This commission comes at no additional cost to you. Please understand that we have experience with these products/ company, and I recommend them because they are helpful and useful, not because of the small commissions we make if you decide to buy something. Please do not spend any money unless you feel you need them or that they will help you with your goals.
In today's episode, we're joined by Dr. Paul Etchison, DDS, who shares his transformative journey from establishing a practice in 2012 to eventually selling to a DSO. We delve into Dr. Paul's background, explore team dynamics and retention strategies, and ponder whether a high-end practice necessitates a smaller scale. They also discuss the complexities of navigating PPOs and the possibilities of transitioning away from them!
We get it — when it comes to your practice's IT, it can all get a little confusing. That's where Darkhorse comes in. With a laser focus on serving dental practices of all shapes and sizes, they are here to roll up their sleeves and tackle your IT needs, no matter how complex. Our listeners get their first 30 days FREE, so start your journey with Darkhorse today: https://thedentalmarketer.lpages.co/darkhorse-deal/Guest: Brady FrankBusiness Name: Freedom Dental PartnersCheck out Brady's Media:Website: https://freedomdentalpartners.com/Email: brady@freedomdentalpartners.comDr. Frank's Book DDSO Strategies: https://www.ddsostrategiesbook.com/ddso-bookDr. Frank's Free Real Estate Valuation: https://freedomdentalpartners.com/reOther Mentions and Links:Marquette UniversityRick WorkmanHeartland DentalPacific Dental ServicesAspen DentalREIT - Real Estate Investment TrustRick KushnerComfort DentalT. Harv EkerEscrowRE/MAXBlockbusterFixer Upper - Chip and Joanna GainesBRRRR (Buy, Rehab, Rent, Refinance, Repeat)Bank of AmericaCostcoHost: Michael AriasWebsite: The Dental Marketer Join my newsletter: https://thedentalmarketer.lpages.co/newsletter/Join this podcast's Facebook Group: The Dental Marketer SocietyMy Key Takeaways:Why is it best to partner with other dentists and entrepreneurs?What makes a practice ready to sell at a profit?What is the current landscape of real estate and how does this affect the dental industry?How to maximize your ROI when purchasing a practice space.How to get into the cost to benefit mindset and spot a good deal.Please don't forget to share with us on Instagram when you are listening to the podcast AND if you are really wanting to show us love, then please leave a 5 star review on iTunes! [Click here to leave a review on iTunes]p.s. Some links are affiliate links, which means that if you choose to make a purchase, I will earn a commission. This commission comes at no additional cost to you. Please understand that we have experience with these products/ company, and I recommend them because they are helpful and useful, not because of the small commissions we make if you decide to buy something. Please do not spend any money unless you feel you need them or that they will help you with your goals.Episode Transcript (Auto-Generated - Please Excuse Errors)Michael: This is the dental marketer the podcast where we teach you how to effectively market and grow your dental practice My name is michael arias and my mission is to help you the practice owner attract new patients immediately And effectively market and grow your business so you can become the go to dental practice in your community Now, what is one of the best ways to grow wealth in the dental industry?Well, The answer, my friends, may surprise you. And we've got just the expert to break it all down for us. We're sitting down with Dr. Brady Frank, a third generation dentist who has not only carved out a successful career in dentistry, but has also ventured into the world of entrepreneurship. Invention and thought leadership.Now, Brady's journey is one filled with hard earned wisdom and expertise in various facets of the dental industry. So in this episode, we'll be exploring some key points that could revolutionize your understanding of wealth growth in the dental field. So grab a notepad because you won't want to miss this.First up, what we're going to be talking about is why it's often best to partner with other dentists and entrepreneurs, and Brady will shed light. On the advantages of opportunities that come with collaboration. Next we'll explore what makes a dental practice ready to sell at a profit. Now this is vital information for anyone looking to maximize their returns in the industry.And then we'll delve into the current landscape of real estate and how it affects the dental industry. Real estate is a crucial component of any dental practice and understanding the market dynamics. Is key. And then we're also going to learn how to maximize your return on investment when purchasing a practice space and Brady will share strategies to make your investment work smarter, not harder.And then finally, we'll discuss the cost to benefit mindset and how to spot a good deal in the dental industry. This financial perspective is essential for anyone aiming to achieve financial success. And Brady's extensive knowledge and experience in the dental industry, entrepreneurship, and real estate make him the perfect guide Through these topics.mean, He's not only a successful practitioner, but also a mentor and author, and he has co founded Freedom Dental Partners, a platform that brings his expertise to others. So if you're looking to grow your wealth, this episode is tailor made for you. And one critical question I wanted to ask you.What could your practice achieve if every technological aspect worked flawlessly? I mean, Have you ever thought about what your dental practice could achieve if tech headaches were a thing of the past? Well, sTick around for after the interview because I have something just for you. But for now, let's dive in with Dr.Brady Frank. Brady. How's it going? Brady: Doing great. Michael. So excited to be on your podcast now, Michael: man. We're excited to have you. If you can, give us a little bit of a rundown of your past, your present. How'd you get to where you are today?Brady: great question. I, uh, back in 1999, which means I'm an old guy, right? I, uh, I had a wrist injury in dental school. Um, they told me I wouldn't be able to practice dentistry. So I checked out a bunch of books at the Marquette Dental School Library, realized I'd probably have to own practices, but not practice in them to make a living and put two practices under contract as a senior in dental school, bought the building, Buildings and practices ended up owning seven practices in the first five years had 28 different associates and, um, made pretty much every mistake back in the early two thousands and really just got deeper and deeper into group practice than DSOs real estate ended up.having a bunch of patents in dental implants manufactured around the world and, uh, really had a big focus on implants through there and where I am today is really just helping dentist groups expand and kind of get to the next level in dentistry. Wow, man. Michael: So you did a lot. So then real quick, when it came to owning the practices and at the same time working with many associates and team members and everything like that, what were some of the If you can recall major mistakes that you felt like if only we did small pivots, it could have, could have made a huge Brady: difference.Yeah, so early on, um, I'd say the first decade of me owning group practices and other practices in real estate, I'll get my mistakes on the practice side and on the real estate side. On the practice side, I didn't create alignment. Or shared ownership or partnership or whatever we want to call it with the doctors in the practice.I just had them as associates or employees. And so that was probably my biggest mistake early. I ended up selling those practices to the doctors, But I could have created much larger groups with shared interests, with shared equity. And I just didn't understand that back then. Uh, my biggest mistake in real estate was.Probably just not buying enough real estate. I buy tons of real estate. Now I'm, I got 62 properties going to closing. the founder of Heartland, uh, Rick Workman, he's made billions of dollars on his DSO, but more billions on real estate and 80 percent less time with 80 percent less effort, Pacific dental services, they won't sell to private equity right now.Because they're doing so well in real estate. Aspen, another big BSO, they develop almost all of their own buildings, and then they sell them to REITs, and that's how they capitalize their growth. Rick Kushner, of Comfort Dental, was at a meeting at Marquette Dental School, my alma mater, and my friend organized it, and he said, he said, Rick, why, you've got, you know, 400 partners, all these locations, why are you still doing this?He said there's a secret, it's about real estate. So I didn't really leverage real estate to the full extent my first decade, but this last decade I've, made more money in real estate than group practices and I've done a, been very well with group practices. So that's where most of my teaching is and that's where I share on how to really crank it out with real estate and not make the mistakes that I did my first decade in Michael: it.Gotcha. Okay. So then real estate is primarily what you're teaching right now. Brady: So I would say my primary teaching is how dentists can expand like I did using real estate profits. To fund their expansion. Don't go to banks, don't get in debt. Go. Don't go to private equity. Mm-Hmm Use real estate profits to fund your expansion.So I mainly teach that, but what I also do is take doctors who have done very well and I clump them together. in dentist owned DSOs. In fact, I wrote a book about it, The DSO Strategy, Dentist Owned DSO Strategies. And I might just kind of look back a graph. I'll pull the page out, make it easier. This is kind of groups getting together.Forming one entity and getting a much higher multiple of sale. So I basically helped docs early, early, our team, I should say, uh, helps docs early phase growth, use real estate to fund their expansion. And then once they've gotten to a certain size. 368 12 locations, how to merge with other successful dentists and get a much higher valuation and then make a bunch of money and do it all over again, basically, and own a bunch of real estate through the process.So that's kind of my main thing is teaching on DSOs, MSOs, and then how that works with real estate and how it fits in with expansion. The reason 80 percent of my teaching is there is because real estate is actually really a simple investment. and so just a lot of my teaching is on the other stuff.And then the real estate kind of becomes the bedrock or the foundation of all the other components. Michael: can you give us like right now, like a step by step system or process on how to use real estate profits? Brady: Yeah. So going back to my mistakes early on, I would buy a building, a dental building. I would hold it for anywhere from three to 10 years and then I would sell it.During that time period that I held it, I had cash flow. And when I sold it, I got a big chunk of money. And someone said something, Canadian entrepreneur who did really well. His name's T Harv Ecker. And he said this in one of his seminars. Um, I've never made as much money operating a business. As I have selling a business and he said, same with real estate.And at that time I realized the longer I held on to a piece of real estate the more time I had into it. The more I had to manage that property, yes, I got monthly cash flow. But at the end of the day, you have to, as a dentist, you're at the top tax bracket, you've got to pay full taxes on that money.So the timeframe with which I held properties that I bought, went from three to 10 years down to like two or three years. Because of capital gains, you have to hold it over here. But then it got down to like a year and now in many cases, it's down to three hours, like literally I'll put a property under contract, I'll find a buyer.I'll get it filled and I won't even close on it. I'll close it, but I'll own it for three hours that the buyer comes in, might put 20 million into the escrow company, pay off the seller with 5 million of it, have 20 million of profit. and one of my mistakes was I did real estate alone without partnerships early on when you do big projects, you need partners, other people to go into the building with their businesses, and then we share the profits.so I would say that I used to do things. Solo, like I can do this. I'm entrepreneur. I can employ the dentist, right? I'll be the guy and I used to have kind of I didn't think so, but other people thought that I thought I was always right like 20 years ago But maybe looking back I did feel like I was right and I had to follow my face a few times to realize Oh, man, there's so many people smarter than I am.Let me be mentored by some of these billionaires who've done really well And since that time, I've done a lot more partnerships, a lot more collaborative work, and you know, I try to always believe, hey, if this is the amount of knowledge out there, hey, Brady, you're right here. So don't think of yourself as someone with all the answers.Realize that you're going to learn from each person that, that is an expert in that subject matter. And so, with real estate. I've focused less on buy and hold, more on flipping it, just like the big, the biggest, most successful DSOs and healthcare groups do. And then I have not, I've decided to do it in partnership with others, uh, rather than just trying to do it myself.So much more leverage with other people's time, other people's money, other people's Business growth. so that's where I am today is mainly doing collaborative work, partnering with a lot of different doctors, hundreds of them. and really, I'm adding value to others, helping them not go through the mistakes.I have and both real estate and growing groups too. Michael: Got, okay. So then if we wanted to right now use real estate profits, what are the first steps? Let's just say right now, okay. You know what? I do wanna do this. I do want to do that flip that you mentioned, or you know what I mean? I'm looking to acquire another practice, but I don't know if I should just expand it and keep it, or.What are the steps for Brady: this? Yeah. Um, there's kind of two categories of real estate. One category you already own it and you're figuring out what, what's, what's the best thing I can do with this asset, buy and hold it, sell it and get it, get a bunch of liquidity, pay off a bunch of my debt and then also real estate that you don't own yet.I'll go over both of those, really quickly. the first one with real estate that you do own, you would be like me, 10 years ago, buying it, holding it, getting some cash flow, paying on your debts. Right. And then having this big payday someday, whenever you sell it, I realized that entrepreneurs, which I think most of the people listening to this are are going to do a lot better.reducing their debt, getting a bunch of cash in their bank and doing more stuff than playing the 10 year game with that, real estate. So if you own a piece of real estate, I encourage you. And if you want, I can, um, even give a link to a software that shows you how much the value of your current property is.Yeah. I would encourage you to, to, look at what would life look like if I sold some or all of my real estate, what would I do with that cash? What would life look like with less debt and could I expand my practice or practices, um, in my main business? So, so that's number one. Number two is for those that also are like, Hey, I own real estate.I like it. I'd love to see what that looks like. If I had a liquidity event there, paid off debt, you know, use that to buy more locations. But I'd also like to know, all right, Brady, what does it look like? Buying real estate for the sole purpose of having a massive game, right? And so here's the strategy with that and we can come back into that later and I saw you nod your head I can I can do a qr code I'll hold it up in front of the screen or we can put it in the in the chat and you'll you can plug your Building information.It'll spit out of value. It's pretty awesome software. so the other component is, Hey, I don't own real estate. how do you make the most in real estate? So most dentists think that if I build a dental building and sell it, Hey, I built it starting to make a profit right now because of inflation, it costs on average 420 bucks a foot to build a dental building with the land and everything.420 bucks a foot. The buildings that I buy, I never pay over a hundred dollars a foot. Never. It's 30 bucks to 80 bucks a foot. and they call that, that's way below replacement cost. Meaning, if you were to build that today, it cost you 400 percent more. So here is why we're able to do that.The office and retail markets of real estate Started going down because there were more vacancies because e commerce Amazon went out there and no one, you know what I mean? People weren't buying designer jeans. So that affected then COVID hit and a lot of businesses went virtual. Another big hit to the commercial real estate markets.And now we've got AI that is supposed to replace 62 percent of task related jobs within three to five years, which means more of a hit to real estate. interest rates are higher now. So whenever interest rates go up, real estate market goes down. The only shining light in real estate right now is the healthcare real estate market.Anything backed with a dental lease or a healthcare lease. that real estate is skyrocketing. Office and retail is going way down. And that arbitrage is where we're playing. So we buy a building that's vacant, without any tenants. Dirt cheap. You move your business into there, just like Aspen does, or Heartland, or one of the others.Once you move your business into there, the building is now occupied. Okay. And, um, the software that I'll share, it actually picks out all these vacant buildings that you can choose from around America. Is that crazy? Yeah, that is cool. Yeah. So, so basically you could, and it matches it up. It's the AI component isn't complete yet, but the AI component watching match your, what you plug in to the buildings that are available.through 20 different databases of buildings, right? So it picks all these on loop net with a remax, all these, and it finds all those buildings, even the ones that are off market at auctions. Okay. So then you're, so then you make an offer on that building and an ideal world, it would already have a build out that is actually fits a dental practice.Like I did a, I bought a med spa for five 75, put a 15 operatory in there. Sold the building for 2. 4 million, like a year or two later. And that practice was a DeNovo, a startup. It did 503, 000 the first month. Cause I used partner dentists. And one month later I bought a strip mall, vacant strip mall and had a blockbuster in there that was gone.If you remember blockbuster. Yeah. Yeah. Blockbuster gone. Right. it had a blimpy sobs gone and some drive through coffee thing. And it was near a hospital. It had an oral surgeon near it, an endodontist. I bought it for 330 grand 10, 000 square feet. The seller was a physician because there was a hospital nearby.He said, I'll sell it to you. But only if you give me 10 percent down, cause I want the cashflow on the 330 grand. So I put 33 grand into it and then the rest was seller financing. And I sold that about two years later for just a little over 2. 4 million. Right. That was a thousand percent return and the tenants paid for their build outs in there.Right. so those buildings, those vacant buildings, that massive arbitrage of profit, that is what you can use to expand your business. So in that group that I owned in Southern Oregon grew from zero to eight million in less than four years. The group ended up having an eight figure exit with the DSO. And I grew that based on profits from real estate. Not only did I pay cash for everything. equipment, any build out stuff, but I actually had millions of dollars left over just on that arbitrage, buying real estate really low and selling it at market value, which happens to be really high compared to what you buy it for.So the key is, is this, Michael, Buying buildings dirt cheap that are perfect for dental practices or other health care and then occupying them with a practice, your new practice, a de novo, or moving an acquisition into there, like a merger from a three op guy into there. And then once you are occupying that building.The lease rate is what dictates the value. And then there's a whole world of buyers out there who buy real estate based on cashflow. Very easy to sell these for market value, but here's the deal. Nobody wants a vacant building. So owner users like us, Dennis are in a powerful position to occupy the building that we buy.And then basically flip that building, realize the profits. And, and, and the main point is the less and less time that you own the building from 10 years, all the way down to three hours, the greater your returns on an hourly rate, right? Meaning that profit explodes when you sell it.If you wait 10 years to sell it, you amortize your profit when you sell it all the way back over 10 years, incrementally per hour, your profit on that property is very low. Whereas if you buy a property and sell it a year later, right? Incrementally every hour you've owned that property is monetized based on the sale price.so that is in general kind of what I've done with real estate and we're in a great time right now. So much vacant dirt cheap real estate and so much opportunity. dentistry is exploding. Great opportunity for groups to expand and use real estate as their tool. Okay. Michael: Interesting. So how, I guess through all that, how easy is it to occupy one of these vacant buildings?Brady: So in some buildings, are very, set up for dental. Like that med spa that I bought and put 15 ops in it. Yeah, they had massage rooms. I just dropped dental chairs in each room. Very, very inexpensive. They had a waiting room already. It was gorgeous facility. very low, low, low costs for build out.The, um, strip mall that I had bought at that time, which kind of started this process for me of DeNovo's and real estate. Um, was a big open space and blockbuster and that took an actual build out inside. So that cost 400, 500 grand now, uh, bought the building for three 30 sold it for 2. 4 million, right? So even after 400, 000 in a buildout, that's still close to 2 million in profit, still worth it.But basically the buildings that you choose that are better suited to fit dental, the less you'll spend on TIs and the more retained profits you'll have, which can go into your retirement account. Which can pay off student debt, which can go into buying more practices, right? And recycle that. so, yeah, there is a kind of an art to that and the software really, uh, kind of, uh.Dovetails into what existing buildups look like you can kind of see what those look like and all that good stuff Michael: gotcha, and so you bought the You started this process without getting a loan from the bank or anything like that to be like, hey I'm going to expand I want to do this you you did it from your own Brady: or yes so so what happened is that was this was in 2010, which is 13, 14 years ago that I started this de novo and real estate component.But before then I already sold a couple of groups, owned other real estate, sold it. So I was doing well. So I just self funded. I didn't use debt. I just bought these properties and then occupied them and added other tenants to them, the strip mall. I had a chiropractor and a blood lab. got it 100 percent occupied and sold it to a 1031 buyer.Um, so for those that are like, Hey, have to take on debt and do that. So we have a big family office network. So doctors don't have to come up with money on the front end. They can be a tenant partner. In these projects, right? our team at Freedom, uh, Dental Partners, we've got a team that just teaches how to do the stuff.in fact, several of the projects of the 62 buildings going to closing right now are, are just that. One guy is a guy named Kevin up in Chicago. I actually partnered on this building to buy it. we bought it for two million and we're selling it for five million, right? Just a little bit of time later It's got 20 000 square feet.It's got a total of 40 dental laboratories in it Yeah, it's got perio and oral surgery and He's putting a big implant practice there and we're kind of teaming up on that. so not like you have to pay dirt cheap for them. I mean, you can pay two million for a building and still make three million dollars on it.So, so we do a lot of those, those as well. Michael: Okay. And then how, right now, if someone wants to sell, what should they do? What's like your recommendation if they're like, okay, I'm looking to sell. They know the common most way to sell. Right. Yep. Yeah. What are your recommendations? Brady: Yeah. So first of all, I would kind of assess your building.what is the, the value look like? And, I don't know if a lot of folks watch yours via video or it's audio, but do you mind if I share my screen and I can kind of... Yeah, Michael: Yeah. And if anybody right now, if you're listening, uh, definitely go in the show notes below and watch the video version of, especially of this portion Brady: right now.Yeah. And I'll just kind of go with this. There it is. So I just spoke, I don't know if anyone gets dental economics. I'm sure you get that magazine. And, uh, I've written a bunch of articles in there and they invited me to speak again in, in Las Vegas and this QR code, Freedom Dental Partners forward slash RE. So if you can't see it, it's just freedom dental partners. com forward slash RE. basically you just plug in, uh, the data on your building and we've got a whole team that basically figures out what the value is based on a few important factors.And those factors are your lease rate or what your lease rate could be. Um, the ability to have a corporate guarantee on the building, and then we work with several multi billion dollar REITs that then basically are buying a lot of the properties we put together, and we know the value of that. So we can, we'll email you back the value, um, it doesn't cost you anything obviously for that, but it's another example of how dentists can partner together to get higher value, because the average value a dentist can receive from selling their building as part of a group of other dental buildings is about 35 percent higher.So if a building is worth 500 grand on its own with these other factors, you're making whatever that is. So So that's that I'll unshare right now, but happy for anyone to use that resource and we had a bunch of people use that at the dental economics event and get back their values on their buildings and how that all works and with an explanation.But anyway, yeah, so that's that's Michael for those that already own their building that want to, you know, have some profit event from the real estate they own. But the biggest, I will say, the biggest profits are in taking these buildings, finding, you know, the ones that are easily, moved into a dental practice component, and then being able to turn those buildings, have a profit, and operate your dental practice there, and effectively expand without any debt and actually making money while you're expanding.Michael: Yeah. Okay. Okay. And I know, um, I guess, how do you know if a building is perfect? Because I think if you want something bad enough, you kind of can convince yourself like, this is perfect. But if Brady were to walk in there, you can tell us like, man, Michael, this is not perfect at all. This is, this is not a good building.So how can Brady: we tell? Yeah, yeah. So, so I look at it from, um, kind of an investment. Objective. If someone's going to do, let's say it's your second practice or your third or your 10th, you almost have to look up, look at it as a cost to benefit ratio. So I really don't look at any buildings or recommend any dentist look at a building unless they can make at least a half million dollars.if you can buy it and some of your costs are going to be X and you can still make a half million dollars. That's a great deal because now what you're doing is you're kind of getting your dental practice expansion going along for the ride But you're also being a real estate investor And and I think we all know that the majority of the world's wealth was gained or is held In real estate and and what we're doing here really is taking a undervalued asset class office and retail In our market today and just converting it to Basically healthcare, which dental fits in that mix, which is the most highly valued real estate right now.it's no different than I think Chip and Joanne Gaines that buy a house, fix it up and sell it for more. It's just a lot easier and more lucrative in this market right now because we can buy vacant buildings for such a low price. And sell them for such a high price. Michael: So this is kind of like, I've heard of this method.It's like the BRRR method, kind of like that BRRR method where you buy, right? Like rehab, refinance. Yeah, Brady: it totally is. So Michael, we should delve into that a little bit because I'm sure people don't know the acronym. Buy rehab, rent, refinance. So that's what it is. Now, here's the big cool part about it. Okay, we buy these vacant buildings, right? Rehab, well, you're gonna put your business in there or you might go with a bunch of other businesses and do it in partnership Which is some of my favorite way of doing it more profits than that offer.Okay, rent Your practice is gonna be renting it, right? Refi. Now there used to be a trend where, hey, I'll pull that money out and I'll just stack up my debt and keep getting more and more debt. and so I used to do that and I realized that the more debt that I had, The less I felt like I could go out there and pursue entrepreneurial stuff because I had a lot of debt.You know what I mean? Yeah. so the only difference is buy rehab rent and it's yourself as part of the tenant mix your, your own tenant. And then instead of refinancing, just selling, making a bunch of money, not having debt. And now you can focus on being productive, being an entrepreneur, and not kind of stacking up your debt as you go, even though refinancing is still a option in many cases.Michael: Yeah. Yeah, you're right. Okay. So yeah, it's buy, rehab, rent, refinance, and then repeat. Brady: Yeah. Yeah. and with these, this model. Absolutely. So, so the key is you need to know how to do a startup profitably. And with Freedom Dental Partners, we are launching a course very soon on how I just in Novos and grew from zero to 8 million.One was an acquisition, but three De Novos, zero to 8 million, no PPOs, believe it or not. Wow. How to, yeah. How for to market for that, how to add partners. How to get them off the ground, you know, most people say, Oh, you'll, you'll be profitable in two years. My first month on the second location did 503, 000 with 210 grand of profit, the first month, and that was that med spa.so I'm putting a program together that folks can follow a free program just to go over how that worked. then we got a done with you component where we can have our, four recruiters where you can recruit. a junior partner, who's gonna be there, how does the marketing tie in, you know, is there an implant bent to the practice, all that good stuff, but yeah, it, it, really.The de novo or startup fits in with the real estate strategy, unless you're going to merge an older docs practice into there. Um, but I found any money that you would have spent on that acquisition. If you just spend that on marketing and you know how many patients per dollar you're spending coming in is, and especially with your techniques, Michael, to have a team that's going to Costco and going to these bricks and mortar places around town doing lunch and It's an incredible way to build grassroots around that.And once you hit, once you at least break even on that, you know, if you follow the plan really well, you, you know, profit the first month, but let's say it takes you six months to break even. Great. Now you've got an incredible asset, you made money on the front end, and now you're going and doing another one of these things and you're literally growing without SBA loans. of America, right? Without needing to be backed by private equity. And when you do sell your group, now it's just all cash to you, right? You don't have to pay off debt and then have a profit. you're growing without debt. And, and I found you grow faster and you take more risks with your growth when you got money in the bank and you don't have debt.Then it's like, Oh, I can do this. Let's try this. Hey, it's no big deal if I try that. And, and those that have the freedom to try new things, And to get kind of aggressive in business, they're the ones that usually win because they're actually trying new things. hitting a single, a double, a homerun.Oh shoot, maybe they didn't do very well on this one, but it didn't affect them. So yeah. So anyway. Michael: No. Yeah. That's interesting. And then I think that's the tricky part there Brady. It's like, cause it sounds, I mean, to me at least it sounds easy, like, okay, let's be profitable. And then we can sell, right? But I feel like a lot of, um, especially like, you know, startups and acquisitions, they kind of get stuck in there where it's like, dude, it's been one year and I haven't even broken even yet.Like, you know what I mean? Kind of thing. Brady: Yeah. So here's kind of one of the secrets with this model. I marketed 30 grand a month, three months before I opened that location where we did 503, 000 the first month. most dentists put in their budget, like instead of 3 percent for marketing, I'll do 6 percent and it just never works.So you kind of have to do a marketing blitz to do it. I had 340 or so new patients that first month it was hundreds. And we did consults before opening it and treatment scheduled. So, so the key is you have to be able to do a massive marketing budget. And most people don't want to do that using debt, they're just backpedaling them, right? It's like, oh crap, I'm putting all this money into marketing. I don't know if the marketing is going to work. So with that, I had already done a real estate project before that made a bunch of money. And then I'm like, Oh, I've got several million in the bank.I don't mind dumping 30 grand in the marketing, right? From a variety of sources, radio, TV, postcards. You know, Google AdWords, Facebook ads, funnels, all that, even a local newspaper. And I went on radio and talked and did a little, I was on a radio talk show, they gave me the radio ads. So you kind of have to do anything and everything, and that creates this massive momentum where you get all this press coming in, right?And then the statistic ends up working out, which is, 80 percent of new patients that come into a practice, 80 percent of new patients, the internal referrals come from those that have been in the practice 12 months or less. So when you do external marketing, you're automatically building your internal referrals and people don't understand.They think, Oh, this 62 year old doc that's been in town for 30 years. He's getting all the referrals, right? Cause he's been there forever. Nope. He's getting four to six new patients a month. It's the new docs who are marketing heavy that are getting the internal referrals. Cause they're, they're bringing in fresh patients, right?And so you have to understand that external marketing begets what we all want, the internal referrals. And with a great campaign like what you do, Boots on the Ground, Lunch and Learns, that's huge because you're with folks, they're talking about it, you're in local businesses. So, so that is the key to market really heavily and, and do that.But, but when you do that, you know, you can, you can literally. take care of your financial future with just the real estate profits and grow a group Debt free. Michael: Gotcha, man. Okay, that's interesting. Good. That's good to know like kind of getting that momentum started right there. one of the final questions I wanted to ask is Right throughout everything you're kind of seeing and this is just to get into the head of someone who isn't totally involved on the clinical Side of dentistry, right?What do you dislike or hate about dentistry right now? Brady: I would say there's this kind of chasm between, private equity backed DSOs and then the rest of independent dentists and dentists getting together and, um, being funded. outside private equity. So private equity back DSOs. That simply means that some corporate body and institutional investor owns the majority of that entity, which means when it recaps what it sells, the majority of those profits Go to the private equity company or the institutional investor.Very little goes to the actual dentist doing the real work on the ground. On the other side of this equation are yes, individual dentists, but also dentist groups that are funded by their own debts, by their own sources of funding, like the real estate that we talked about. And it's kind of a battle right now.what I hate is that More dentists aren't doing enough research to understand that these big private equity backed groups are not investing in real estate. In 2016, they wrote something in a private equity journal that said don't invest in real estate, but the founders of those groups have formed exclusive arrangements.And they get to invest in all the real estate. They're making a killing billions of dollars. And all of these groups that kind of watch the big groups, they're saying, oh, we'll just lease. We won't own the real estate because they don't own it, but the founder is owning the real estate. So what I don't love is that there's not a ton of information being given out.over here with the huge groups that are private equity back. And there's a lot of dentists that aren't taking the time to research how that really works. And I think that's my goal is to, yes, certainly show a couple decades of failures and successes, but to also show, cause I've, I've looked deeply inside the innards of all these DSOs.I've helped a lot of them and consulted a lot of them and worked with the main attorney group who set them up. so I think what I don't love is that chasm between the two. And I think the individual dentists, the business folks that are working with dentists, those groups that are watching the big DSOs and emulating them and just leasing space, not realizing there's a huge real estate play there.and those that don't realize, Hey, we can clump together like at Freedom Dental Partners and have a big group with a big liquidity event and benefit our futures. you know, financially, just like the big boys do. I think it's that chasm that I hate the most. And that's I think what I'm here to do is educate, show how they're doing it and then interpret how that works and make it easy so that Dennis can flourish just like those big groups.And then I think what's gonna happen is if here's the big groups and here's Dennis and smaller It's going to equalize out because now we're using all the secret tools, techniques and protocols that they are. We leveled the playing field and we actually maybe even have an edge on our side, especially with kind of some of the real estate stuff we've talked about today.Michael: All right, man. Awesome. And then any final pieces of advice that you'd like to give to our listener? Brady: Um, I would say if you're young and you're just starting out your career and you did an acquisition or a startup, you're a business person involved with a small group, look at ways of collaborating more like, uh, you know, Freedom Dental Partners, we've got hundreds of dentists around the country who are building small groups together and getting involved, Google Freedom Dental Partners, see some of the deals we've done, some of the DSOs we've bought, we've bought a number of DSOs, and uh, just get involved and look for folks that are really, uh, kind of on the, on the forefront of doing this stuff, look for folks that are partnering with others, that are sharing, and uh, I would say just, look very closely at those that are banding together because those are the groups that are forging, ahead and really competing with each other.With the big boys. unfortunately it's not the one or two or three location groups that are kind of competing as the big boys. It's, it's those one, two or three location groups or 10 location groups that are banding together, creating a formidable force to elevate through partnerships that are, that are really making a difference out there today.Okay, man, Michael: that's good. So then if anyone had any questions or concerns, where can they find you? Brady: Yeah, just go to brady at freedom dental partners. com brady at freedom dental partners. com and I can I can get to where you need to go Michael: Awesome. So guys that's going to be in the show notes below. So definitely check it out And at the same time brady, thank you so much for being with us.It's been a pleasure and we'll hear from Brady: you soon Awesome, michael. Have a great one Michael: Thank you so much for tuning into that podcast. And Brady, thank you so much for being a part of the podcast. We really appreciate you coming on and sharing your wealth of knowledge. And at the same time, if you want to ask Brady any questions, go in the show notes below or the description below, and you can click on his links and reach out to him there.Definitely check out his website and see what he has to offer you as well. Along with any of the freebies that he mentioned in the episode, you can download them in the show notes below as well. So go ahead and do that now. Have you ever thought about what your dental practice could achieve if tech headaches were a thing of the past?That's where a fantastic IT company comes in. Now think about your day at your clinic strip away any worries about server crashes or data breaches. Man, if you can do that, that'd be amazing. With Dark Horse Tech, that's your new reality. They deliver IT solutions that align perfectly with the rhythm of a busy dental practice, so your attention never strays from patient care.Now, I wanted you to ask yourself that critical question. What could your practice achieve if every technological aspect worked flawlessly, because that's not a hypothetical anymore. It's a real possibility with dark horse tech and to make the decision even easier, dark horse tech is introducing a limited time offer.That's too good to pass up. If you start with dark horse tech today, your first month is a hundred percent free, that's right. Your initial 30 days of service are free of charge. It's their way of showing you the difference, the right it partner can make. So choose dark horse tech and take the first step towards a future where your dental practice can thrive uninterrupted by it concerns.It's time to let technology elevate your practice. Not complicated. So go in the show notes below, click the first link in the show notes below to check out the offer. And at the same time, you can see what other practice owners are saying about dark horse tech. And if you like what you see, then you can go with them. But remember the limited time offer is. First 30 days are completely free. So grab this opportunity and see what seamless it service feels like with dark horse tech. It's not just about managing it. It's about mastering your practices potential. So going to show notes below, click the first link in the show notes below to check out more, and that's going to do it for this episode.Thank you so much for tuning in and I'll talk to you in the next episode.
#140: A deep dive into health insurance and other benefits you'll need to make decisions about during your upcoming open enrollment. We'll cover health plans in depth, but also dental, vision, HSAs, FSAs, employer life insurance and more. Link to Full Show Notes: https://www.allthehacks.com/open-enrollment-2024 Partner Deals Notion: Try Notion AI free to automate tedious tasks and streamline your work Athletic Greens: Free 1 year supply of Vitamin D and 5 free travel packs MasterClass: Learn from the world's best with 15% off Copilot: Free 2 months access to my favorite personal finance app with code HACKS2 Henson Shaving: Plastic-Free, Precision-Built Razors + $100 free Blades For all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals Resources Mentioned All the Hacks: #34: Hacking Healthcare, Prescriptions and Medical Bills with Marshall Allen Email for questions, hacks, deals, feedback: podcast@allthehacks.com Last Week Tonight with John Oliver: Health Care Sharing Ministries Online Direct Primary Care For Pediatrics: Summer Health | Blueberry Marshal Allen's Book: Never Pay the First Bill Online Sites for Prescriptions: GoodRx | RxSaver Oura Ring DNA Genetic Testing: 23andMe Online HSAs: Lively | Starship HSA Hawaii Recommendations: Restaurants (Kid-Friendly): Lava Lava Beach Club | CanoeHouse at Mauna Lani Water Activities: Ocean Sports | Snorkel Bob's Full Show Notes (02:27) HMOs, PPOs & EPOs (03:47) Deductible (04:44) Coinsurance (05:40) Out of Pocket Maximum (06:20) High Deductible Health Plan (07:35) Coverage: In-Network & Out of Network (09:16) Insurance Brokers (14:55) Selecting a Carrier (17:55) Premiums (20:39) First Dollar Coverage (21:50) HSA Hack: Use Your Cash Flow For Expenses (25:10) Why The Platinum Plan Doesn't Make Sense (29:55) Health Insurance Hacks (31:13) Medical Sharing Plans (33:36) Ways To Save (36:16) Dental & Vision Insurance (37:56) FSA for Health (40:47) Using HSA (41:41) Pre Tax Transit (41:56) Life & Disability Insurance (43:18) Tips from Chris's Trip to Hawaii Connect with All the Hacks All the Hacks: Newsletter | Website | Membership | Email Chris Hutchins: Twitter | Instagram | Website | LinkedIn Editor's Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. Learn more about your ad choices. Visit megaphone.fm/adchoices
Selecting a dental insurance plan can be a complicated task, especially when you're presented with an array of options such as Preferred Provider Organisation (PPO) and Health Maintenance Organisation (HMO) plans. Each type of plan comes with its set of features, benefits, and limitations. Understanding these can help you make informed choices for both you and your family.a) What Are PPO and HMO Dental Plans? PPO (Preferred Provider Organisation)PPO plans provide individuals with the liberty to choose their dental care providers. While these plans encourage you to use dentists from their in-network, you're also free to visit any dental specialists out of network, albeit often at higher costs.b) HMO (Health Maintenance Organisation)HMO plans require enrollees to select a Primary Care Provider (PCP), commonly a general dentist, who coordinates all of their dental healthcare. Under an HMO, your options for choosing healthcare providers are limited to those within the network.c) Key Differences Between PPO and HMO: Pricing Structures DifferHMO plans generally have set co-payments, meaning your out-of-pocket expenses are predetermined for covered services. The caveat is that you're restricted to using providers within your network. PPO plans, on the other hand, offer more flexibility in terms of healthcare providers but may come with fluctuating costs.d) Preferred Providers and LocationsWith an HMO, you may have to switch your preferred PCP if they are not within the network. PPOs offer more leeway, allowing you to book appointments both within and outside the network, although seeing an out-of-network dentist will usually cost you more.e) Seeing SpecialistsHMO plans necessitate a referral from your PCP to see a dental specialist. PPO plans offer more flexibility, letting you directly book appointments with specialists, though consulting your PCP is often advisable for evaluating your health goals.f) How to Determine if Your Dentist is In-Network-Contact your human resources department, your insurance provider, or the dental office.-Identify your plan type by logging into your insurance account.-Use the "Provider Search" option to find or verify if your dentist is in-network.g) Visiting the Dentist Without an Insurance CardEven if you forget your insurance card, you can still receive treatment by providing your insurance details, calling your insurance provider for assistance, or by paying out-of-pocket and later seeking reimbursement.h) Financial Planning-Utilise your Flexible Spending Account (FSA) or Health Savings Account (HSA) for dental expenses.-Discuss payment plans and alternative treatments with your dentist.-Make the most of your annual coverage by planning your visits efficiently.i) CommunicationMaintain open communication with your dentist and insurance provider to ensure that you're making the most cost-effective choices for your dental health.Understanding your dental insurance is crucial for financial planning and ensuring quality healthcare. Insurance is a business—knowing how to maximise its benefits can save you not just money but also ensure you get the right treatment for your unique health needs. A healthy mouth is integral to overall well-being. Book a consultation today:I am always here to help answer any question and schedule a 15 minute call with me. If I can not help, I can get you to a provider that can.https://shereewertz.com/15-min
Expert Nerds talk through the complexities of open enrollment, starting with ways to assess healthcare plans and costs. This episode takes a deep dive into specific terminology and scenarios relevant to choosing health insurance coverage. Hosts Sean Pyles and Liz Weston start with an overview of open enrollment period timelines for November and December 2023 before welcoming guest Nerd Kate Ashford to explain deductibles, premiums, HMOs, PPOs and HDHPs. Then, NerdWallet's Tina Orem joins the show to discuss the pros and cons of high deductible plans and the intricacies of Health Savings Accounts (HSAs) and both Medical and Dependent Care Flexible Spending Accounts (FSAs). In the second half of this episode, she zeroes in on selecting optimal health insurance for individual needs, discussing the merits and disadvantages of different health plans, budgeting for healthcare, and how to compare the benefits of an FSA and an HSA. In their conversation, the Nerds discuss: open enrollment, health insurance options, healthcare choices, high deductible plans, premiums, health savings accounts (HSAs), flexible spending accounts (FSAs), optimal health insurance, HMOs, PPOs, HDHPs, health insurance budgeting, FSA vs HSA, the use it or lose it rule, health insurance decision-making, health insurance terminology, healthcare strategies, health plan selection, medical costs, and types of health insurance coverage. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend.
On today's episode, we are joined by a remarkable entrepreneur who has reshaped the dental landscape with her unwavering dedication to helping dental practices thrive in the realm of PPO negotiations. Shelley DeGroff, the founder and CEO of PPO Advisors, has an inspiring journey that stems from her experience in a dental office, and she recognized a pressing need for fair deals from PPOs. Shelley's story is one of unexpected entrepreneurship. As an office manager for a private dental practice, she dived into the intricate world of PPO contracts, gaining an in-depth understanding of the dynamics that can significantly impact practice revenues. When she successfully negotiated better terms for her own office, revenues soared. Recognizing the widespread demand for her expertise, Shelley founded PPO Advisors in 2013, marking the beginning of her mission to empower dental practices with the tools to negotiate better PPO contracts. Hailing from a rural background in Nebraska, Shelley's journey has been marked by her unwavering work ethic and an integrity-based approach to business. Her commitment to leveling the playing field for her clients, allowing them to work smarter and amplify profits, showcases her dedication to driving positive change within the dental industry. During our conversation with Shelley, we delve into intriguing topics that shed light on the crucial aspects of PPO negotiations. We explore the concept of umbrella networks and whether PPO Advisors accepts them, shedding light on the complexities that dental practices navigate. Fee schedules and time frames also come under discussion, providing valuable insights into the meticulous work that goes into optimizing PPO contracts. One of the highlights of our conversation is Shelley's wisdom on reducing dependence on PPOs and identifying the thresholds for maintaining a healthy balance. Her expertise empowers dental practitioners to make informed decisions that align with their growth strategies. As a pioneering force in the industry, Shelley has nurtured PPO Advisors into a success that is propelled by a dedicated team. We gain insights into the growth journey of her team, the turnaround time to onboard clients, and what truly sets PPO Advisors apart from competitors. To connect with Shelley DeGroff and explore how PPO Advisors can transform your dental practice's PPO negotiations, visit https://ppoadvisors.com/. EPISODE RESOURCES ppoadvisors.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast
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