Inspiring Lessons in Dental Practice Success

Business Strategies For Success In Dentistry

Episode #63
Using your daily schedule to grow your practice | Heidi Mount
This presentation is brought to you by Ekwa Marketing, a leader in digital marketing for dentists!


Like this podcast? Share this idea with dentists in your circle who you think might benefit from it.


Key Points at a Glance

  • Heidi Mount, Virtual Consultative Coach, in conversation with Naren Arulrajah
  • Worked in Oregon and California (at the same time) as a dental assistant and office manager, while consulting other dental offices
  • Success Stories
  • Taking a better look at schedules
  • Start with the money
  • Changing mindset issues
  • Your mouth tells a lot about what’s going on inside your body
  • You need to explain the benefits of what the patient is going to get, instead of focusing on the cost
  • Hiring the right team members
  • Build your practice around your life, not the other way around
  • Consistency is key to keep moving forward

Email: heidi@coachingdentist.com
Website: www.coachheidimount.com or www.coachingdentist.com
Episode #56
Managing your Dental Practice’s Metrics with ease | Kevin Rossen


Like this podcast? Share this idea with dentists in your circle who you think might benefit from it.


Key Points at a Glance

  • Kevin Rossen, Founder of Divergent Dental, in conversation with Naren Arulrajah
  • Started in dentistry by managing father’s dental practice
  • Top 3 metrics you should be looking at on a daily basis: Case acceptance, Re-appointment rate, New Patients
  • On a monthly basis, pay attention to your attritions (those who haven’t been back to see you in the past 18 months)
  • Top 3 numbers you should look at on a monthly basis: Attrition, Net production, Treatment plan dollars
  • Diagnose and treat your patients for what they really need
  • When you look at data, and you ask the right questions and get the right answers, you can make informed decisions that will impact your practice and your patients’ lives
  • Top 3 things learned from running a dental office: you should treat people like people, keep things simple, have fun and keep things light
  • The concept for Divergent Dental is standing out from the normal

Visit: www.divergentdental.com
Email: info@divergentdental.com
Call: 888-755-5728
Episode #52
Using Demographics to find the perfect Dental Practice Location | Kent Miller
This presentation is brought to you by Ekwa Marketing, a leader in digital marketing for dentists!


Like this podcast? Share this idea with dentists in your circle who you think might benefit from it.


Key Points at a Glance

  • Kent Miller, Founder of Dentagraphics, in conversation with Naren Arulrajah
  • Has a background in Economic Development
  • Has been in the dental industry for four years
  • Started in dental industry through a friend who encouraged him
  • Helps ensure that the investment the dentist makes is done wisely
  • We look at population, age group and income to help determine a match for a specific practice strategy
  • Common questions dentists ask
  • Helps approximately 50 practices a month open
  • Many practices relocate due to needing bigger space
  • Start up’s will look to locate a real estate agent, financing, equipment & marketing
  • Services available through Dentagraphics
  • There is a lot of opportunity for location out there, where there isn’t a ton of competition

Email: kent@dentragraphics.com or info@dentagraphics.com
Visit: dentagraphics.com
Call : (888) 715-1044
Episode #49
Know and stay on top of your practice’s finances | Doug Fettig
This presentation is brought to you by Ekwa Marketing, a leader in digital marketing for dentists!


Like this podcast? Share this idea with dentists in your circle who you think might benefit from it.


Key Points at a Glance

  • Doug Fettig, Aldrich CPA & Advisors, in conversation with Naren Arulrajah
  • Services 250 Dental clients around the country
  • We understand how a Dental practices’ colleagues and peers operate
  • Using cost segregation analysis to benefit a practice
  • Leveraging depreciation benefits
  • Don’t let your CPA depreciate everything in the first year
  • Fraud and embezzlement in the dental practice
  • Bank statements should go to your home, not your practice
  • Recommend using ‘Zero’ over ‘QuickBooks’ for daily managing
  • Benchmarks on production
  • Wealth management
  • Purchasing a currently run practice
  • Fee analysis

Email: dfettig@aldrichadvisors.com
Visit: aldrichadvisors.com
Call: 503-716-9316
Episode #48
Educating Dentists on Real Estate and Leasing | Norman Gelfand
This presentation is brought to you by Ekwa Marketing, a leader in digital marketing for dentists!


Like this podcast? Share this idea with dentists in your circle who you think might benefit from it.


Key Points at a Glance

  • Norman Gelfand, founder of Gelfand Group, in conversation with Naren Arulrajah
  • Real estate broker for 30 years
  • The past 16 years has focused solely on helping dentists
  • The biggest mistake most dentists make is focusing on economics rather than the liabilities and pitfalls they are signing up for
  • The 3 elements of Economics: lease rate, tenant improvements allowance and free rent involved with transaction
  • Business focus of the lease
  • Fighting the relocation clause
  • Right to bond around the Lean
  • Protect against Latent defects
  • Understanding the landlords needs and the dentists needs
  • Business terms of a lease
  • There are always nuances in leases that you have to be aware of
  • Options for renewal
  • Collaborative negotiations
  • Be a gentleman, know your business, know what you need, know how to get what you need and understand the landlord is a business man also
  • Be honest, loyal and diligent. Make sure everything is the best it can be for your customer
  • Happy tenants make happy landlords and happy landlords make happy tenants
  • Demographics involved

Email: norman@gelfandgroup.com
Visit: gelfandgroup.com
Call: 512-833-5300
Episode #43
Tax Savings for Entrepreneurs | Craig Cody
This presentation is brought to you by Ekwa Marketing, a leader in digital marketing for dentists!


Like this podcast? Share this idea with dentists in your circle who you think might benefit from it.


Key Points at a Glance

  • Craig Cody, Founder of Craig Cody & Company, in conversation with Naren Arulrajah
  • CPA, Certified Tax Coach, Author, Business Owner, and former New York City Police Officer for 17 years
  • Most business owners don’t know what a tax plan is
  • Many dentists are looking for help or guidance
  • Using real estate as an advantage in your taxes
  • Depreciating equipment and other assets in your tax & accounting
  • It’s important to communicate with your accountant and vice versa
  • ‘Good Will’ needs to be advertised or depreciated
  • Using your vehicle and a home office opens up options for tax deductions
  • Continuing Education, marketing, coaches, etc are all deductible
  • Cash flow in your business
  • Complimentary consultation available

Visit: www.craigcodyandcompany.com/growingdentist/
Call Profitable Dentist: 516-869-4051
Episode #41
Getting equity off the table and back into your dental practice | Diana Thompson
This presentation is brought to you by Ekwa Marketing, a leader in digital marketing for dentists!


Like this podcast? Share this idea with dentists in your circle who you think might benefit from it.


Key Points at a Glance

  • Diana Thompson, Founder of Dental Performance Institute, in conversation with Naren Arulrajah
  • Started working in a dental practice after high school
  • In the dental field for 32 years
  • In a dental practice, it’s all about performance
  • You can never stop learning
  • What is ‘Operational Equity’
  • Analyzing the operational module of a practice
  • Evaluating patient experience and improving it
  • Having the right person with the right mindset in the right position
  • The follow up program needs to be structured to where things are done in a timely manner
  • The dentist should work with the treatment coordinator to get the patients back to overall health
  • Money left ‘on the table’
  • The ‘metrics plan’ to stay on track

Email: Diana@DentalPerformanceInstitute.com
Visit: www.dentalperformanceinstitute.com
Call Profitable Dentist: (630) 549-3224
Episode #40
The business side of a today's dental practice | Steve Parker
This presentation is brought to you by Ekwa Marketing, a leader in digital marketing for dentists!


Like this podcast? Share this idea with dentists in your circle who you think might benefit from it.


Key Points at a Glance

  • Steve Parker, Editor & Chief of The Profitable Dentist Magazine and President & CEO of Excellence in Dentistry, in conversation with Naren Arulrajah
  • Got involved in dentistry about 15 years ago
  • Started consulting on the business side of dentistry
  • The Profitable Dentist (started out as an idea, into a newsletter, then into a magazine)
  • Excellence in Dentistry (Seminars, Workshops, Forums)
  • Topics that people want to learn about
  • The way things are done today, is very different to the way things were done a generation ago
  • LTV- Life time value of a customer
  • Older generation vs younger generation dentists
  • Younger doctors understand dentistry is a business
  • Knowing the inputs and outputs of a business

Email: steve@dentivadental.com, steve@theprofitabledentist.com
Visit: LinkedIn, Facebook
Call Profitable Dentist: 812-949-9043
Episode #38
Take Profit First | Mike Michalowicz
This presentation is brought to you by Ekwa Marketing, a leader in digital marketing for dentists!


Like this podcast? Share this idea with dentists in your circle who you think might benefit from it.


Key Points at a Glance

  • Mike Michalowicz, Entrepreneur and Author, in conversation with Naren Arulrajah
  • Writes books for small businesses
  • Latest book is Profit First
  • Learning from mistakes
  • 83% of businesses run paycheck to paycheck
  • Sales – profit= expenses
  • Parkinson’s Law. Greater supply, greater consumption
  • Once you possess something, you make more of an effort to retain it
  • Have a separate bank account that you put a percentage in and use itonly for one purpose
  • Don’t let your business be led by your expenses, let profit drive your business
  • Start slowly, don’t try to do it all at once

Visit: www.mikemichalowicz.com or www.profitfirstbook.com