The Mindset That Drives Dental Entrepreneurs to Build Their Practice Different

[vc_row][vc_column][vc_column_text] It’s common to hear the following in a conversation between friends or colleagues. “How are you doing these days?” And the response is often, “Living the dream…just living the dream!” What does that mean, really: “Living the dream?”  A more probing thought – are you living YOUR dream? Perhaps you remember when private dental practice ownership WAS the “dream.” …

3 Core Decisions That Could Secure Your Future as a Dental Entrepreneur

In his book, Linchpin, Seth Godin shares a story of a man traveling first-class by train through Spain. He happens to be seated next to the famous artist, Pablo Picasso. Random encounters often deliver needed perspective. And a shift in perspective can transform your day to day reality as a dental professional.  The traveler gathers his courage to ask the …

How to run a dental practice: Calculate hygienist compensation

Would you like to see how your hygiene team is performing financially? Using your Dentrix reports, you can more deeply understand the economics of your hygienist team performance.   Step #1: Find each hygienists net production for the month If you have joined any PPO plans or you offer any discounts, you know that these withholds and discounts add up. …

Stop the Negativity. Change the Culture.

Does this exchange sound like it could happen in your office? (Setting: Full staff meeting following a tense morning meeting) Dr. starts off the lunch meeting by acknowledging how stressful and negative the morning huddle felt that morning. The discussion moves to how the practice can get back to being a positive place to work. Someone suggests having a carry-in …

Case Study #1

Case Study #1 First visit: April 30, 2015 Full office performance:   Production Collection % Jan $224,797 $171,261 76.18% Feb $193,187 $159,409 82.52% Mar $143,871 $162,804 113.16% Apr $186,724 $143,164 76.67% May $171,046 $184,308 107.75%   Result: $40,000 improvement in collections immediately Thanks to: Sent statements for the first time to all patients under $50 and two weeks later sent …

It Takes Courage!

Peter Drucker said it best…”The purpose of a business is to create a customer.” I was once asked by a well-known Practice Management Consultant to speak to our peers about building a consulting business. The best statement I shared was not how much to charge or how unique you think you are, to capture an advantage over another consultant, but …

How does the future of dentistry impact my practice?

In my first article, I shared with you notes from the AADGP conference and the presentation given by the ADA Director. In this article, I will take the ideas shared by the ADA and take each one and turn it into an action plan. Finding #1: 80% of the work the ADA is doing focuses on the environment dentists work …

Achieving Practice Efficiency with Multi-Disciplinary Care Teams

Introduction In today’s dental practices, it is becoming more difficult to manage the challenges of closing the gap between science research (best practice) and optimum patient care. Many patients still see dentistry as an elective service and not the preventative medicine it truly is. With that in mind, patients could present with medical problems that could delay, prolong, or even …

Partner With a Trained Dental Administrator to Manage Your Group Practice

by Jill Nesbitt As the dentist owner of a multi-location group practice, you are busy! Most likely you are seeing patients, coaching your associates on clinical care and case acceptance and keeping an eye on the bottom line. In addition, you may be trying to visit each office regularly to stay in touch with your team and provide leadership. And, …

Top Five Ways for an Associate to Build a Practice Within a Practice and Succeed!

by Rhonda Gonano Mullins Most dental school graduates today are burdened with substantial debt, so they begin practice as Associates. While some enter GPRs or the Armed Services until they complete their obligations, the outcome is the same — they enter private practice. As associates, they have the opportunity to improve their clinical skills, increase speed and proficiency, and learn …

TOP 5 Reasons Why Dentrepreneurs Need Intrapreneurs Now More Than Ever

My father always said, “ Meaningful change begins within & Never give up!” Two phrases that give meaning to being significant in the world.If you are learning, growing and serving, change is constant, embrace it! As disruptive innovation changes are continuing in dentistry, through a rapid consolidation trend, it is vital to assess the innovative thinkers. They can bring their …

Top Ten Reasons Associateships Fail to Result in a Practice Purchase

Most dental school graduates today are burdened with substantial debt, so they begin practice as associates. While some enter General Practice Residencies (GPRs) or the Armed Services until they complete their obligations, the outcome is the same — they enter private practice. As associates, they have the opportunity to improve their clinical skills, increase speed and proficiency, and learn dental …