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Shared Practices | Your Dental Roadmap to Practice Ownership | Custom Made for the New Dentist
After one analytics software took Shared Practices to where it currently is, there is only one that will take Shared Practices to where we all want to be. George and Matt discuss directly Rob Bay, president of: Dental Intel!
Shared Practices | Your Dental Roadmap to Practice Ownership | Custom Made for the New Dentist
Welcome to another episode of the Shared Practices Podcast! We’ve invited Rob Bay form Dental Intel onto the show to help us understand how to use metrics and apply them to a practice acquisition. We touch on the topics of what dental intel is, how to apply dental intel to acquisitions, and how to apply metrics to managing a practice. Rob even offers to help out the listeners of our show. This was one of our most informative episodes so far! Thanks for listening to this week’s episode of the Shared Practices Podcast! To be the first to have access to the Ownership Accelerator and our launch special join the Waiting List! Our Episode Resource Page where you can find all of the resources from our episodes - for free! Join our new Facebook Group! Reach out to George- George@sharedpractices.com Dental Intel- http://www.dentalintel.com/index.html Rob Bay is the co founder and president of Dental Intel. Rob loves numbers,data, and excel. There is nothing that he loves more than helping a customer understand how numbers and data can change their life significantly for the better.
Are you getting better? Are you getting worse? How are you producing in relation to your peers? Are you measuring up with your goals? Find, understand and manage all of this data and more with the information in this episode. A way to benchmark how we are doing in our profession with Dental Intel Data Analysis. Listen in to Dr. John and Rob Bay from Dental Intel discuss how we can increase our bottom line by 17% by utilizing this one tool. For more information on The Team Training Institute or Dental Intel, visit www.theteamtraininginstitute.com/podcast
Rob Bay is the President and Co-Founder of Dental Intel, the leader in business analytics software to help dental practices improve their performance, profits and value. Dental Intel is one of the fastest growing companies in dentistry with 2800 dentists utilizing their software since its launch in April 2015. Rob is a numbers geek and the mind behind the formulas and algorithms of Dental Intel. He loves analyzing practices to see what is happening, why it is happening and how to solve it. http://www.dentalintel.com/
Brad Petersen is the CEO of Sharp Edge Marketing Group, an leading marketing firm that helps dentists maximize their strategic and financial goals by proactively monitoring and managing their patient base. Sharp Edge's 12-month marketing plans include best-in-class lead generation and conversion strategies, real-time analytics and ongoing training and education. Petersen has led companies, non-profits, government agencies, and individuals to maximize their potential for more than 20-years. In 2012 Petersen was recruited from the private sector to be appointed by the Governor of Utah, Gary Herbert, to start a new government agency that has since been recreated in five other states, facilitated acquisitions for the Intel Corporation, and founded and sold his own company. You can reach Brad at brad@sharpedgemarketing.com or by visiting www.sharpedgemarketing.com/Veritas. Rob Bay is the Chief Sales Officer for Dental Intel. Rob is responsible for expanding Dental Intelligence's technology solutions into the corporate dentistry sector and international markets. Rob loves numbers and data. There is nothing that he loves more than helping a customer understand how numbers and data can change their life significantly for the better. He has spent his entire career growing successful technology businesses including within Telecom, Managed Services, Outsourcing and Saas. He has a proven track record of success and is able to capitalize on new opportunities, avenues and verticals for continued growth. Rob always has a brain teaser to share and when not working he likely is watching his children dance or play soccer. He also enjoys canyoneering, hiking and backpacking. You can reach Rob at rob@dentalintel.com and check out Denta lntel at www.dentalintel.com. During this episode Brad and Rob talk about where the dental industry is with marketing and where it is heading. For offices looking to join or drop PPO's Brad talks about key marketing strategies that may affect your PPO game plan. Rob addresses key analytics numbers you should know about when analyzing effective marketing strategies.
Bulletproof Dental Practice Podcast Episode 7 Host: Dr. Peter Boulden Atlanta Dental Spa Guest: Rob Bay President, Dental Intel Key Takeaways: Dental Intel is a cloud based software which can be used as a practice management and financial management system. Dentists are busy with their practice so they have no time to pore over the data presented. So Dental Intelligence learned to take the data and turn it into reports that dentists can easily understand. They provided action items on the things dentists can do in order to improve. Causation data is understanding what is causing the managerial data being measured. The next and deeper level of data is called action items. It tells you what you need to do with the data you have. It tells dentists specific things that needs to be done in a specific time to specific patients. Dental Intel takes the data and processes it into actionable items that can be assigned to other people - not necessarily the dentist himself. Caring about your patients and understanding the numbers should not be mutually exclusive. They can blend together and go hand-in-hand. Dental Intel measures things that allows dentists to provide exceptional care for their patients. Patients, on average are only accepting 25% of what is being presented to them. Usually, this has to do more about the practice and the systems than the patients. Dental Intel can help by measuring this data in order to increase cognizance of the issue. This leads to improving the issue. Understanding data increases awareness of what your practice is doing right and wrong. Do not focus on the negative but rather view them as opportunities within your practice. It is not an emotional decision, it’s a binary decision. It’s just data. Utilizing data and information to make decision can make you a better business owner and help you provide better care to your patients. Ask why the numbers are where they are even if the numbers are good. You want to replicate the good thing that is being done. Dental Intel, or a data analyst, can help a dentist become accountable with the data being measured. Dental Intel provides correction but with recommendation. They make it optimistic. Dental Intel Rule: Find 3 good things (celebrations) before giving a helpful observation (correction). Highlight areas of success and build up on them instead of focusing on the terrible things someone, who was never measured before, is doing. Let the number do the talking instead of pushing down a person. Dental Intel Goal: Help individual dentists become successful in the midst of corporate dentistry boom. Resources: Outliers by Malcolm Gladwell Glip - by Ring Central Intercom Tweetables: “In measuring and tracking things, you can modify things.” Rob Bay “Using data and information to figure out how systems can be improved is a replicable skill.” Rob Bay “There’s nothing more powerful than having everyone in your practice do one little thing everyday to bring in more production.” Rob Bay “If you don’t know your numbers, you don’t know your business. If you don’t know your business, you’re putting everyone at risk.” - Dr. Peter Boulden “When performance is measured, performance improves. When performance is measured and reported back, the rate of improvement accelerates. - Thomas Monson.” - Rob Bay “It’s not emotion, it’s just a binary decision about changing x to get to y. It’s just data.” - Dr. Peter Boulden
[audio:http://traffic.libsyn.com/takacslearningcenter/TDS065.mp3] Podcast: Download | Play in new window/mobile device Running Time 37:23 Gary uses the concept of Key Performance Indicators (KPI’s) to help his clients better understand what is actually happening in their practice. I have often heard Gary say, “the data never lies’ …