One Clever Way to Really Get Ahead

We’re often asked by clients how they can make more money save on taxes.  Here’s my answer: Move.  Move to a state with lower taxes and cost of living.  Unfortunately, it’s probably not going to be a state with great weather or beaches. Unlike some geographically-tethered professions, dentists can live and work anywhere and still make the same amount of money.  It’s just as easy to have a practice collecting $1MM in a rural area as a city.  Why?  Less competition in less populated...Read More

Your Most Expensive Marketing: In-Network PPO Contracts

What’s your most expensive marketing cost? SEO, add clicks, local magazines, a consultant? Not even close. It’s your contracted carriers. That is your most expensive cost to grow your patient base. Case in point. If you do 30 crowns a month with Delta PPO and receive $600/crown you’d earn $18,000/month in collections. However, if you decided to drop Delta what might happen. Let’s assume you lose 33% of your patients and now you only do 20 crowns, but you receive your full UCR of...Read More

Associate Pay for Invisalign

This article addresses two factors related to Invisalign: Should I offer it in my general dentistry practice? How should I pay an associate that does Invisalign? Should I offer Invisalign in my general dentistry practice? Many of our general dentists are asking us about Invisalign.  Should they introduce it into their practice? Our answer is this: Invisalign may be profitable for you. The answer is determined by how deep of a plunge you take with Invisalign, and whether it fits within your...Read More

The Ultimate Sophistication is…..

Pop Quiz Doc. What was it Da Vinci Said About Sophistication? Well, I can’t give you the answer just yet, but let me preface it. Compare these two doctors: Alright, here’s the answer to our little quiz: The ultimate sophistication is simplicity – Mr. Leo DV My examples above aren’t made up. The data is clear. Those doctors with a simple financial structure and healthy practice progress toward financial independence faster. And, doctors that keep it simple, tend to have less stress....Read More

Opportunities and Leadership

Working with practice owners every day, I’m impressed by the scale of opportunity that exists for them to thrive, to be profitable, and to enjoy their career as a rewarding experience. And importantly, to use the profitability of their practices to further their personal life goals. So many of our clients are true seekers of financial independence. I applaud them for their efforts. I personally derive great satisfaction in helping them and witnessing them succeed. I acknowledge the pressures...Read More

Hiring in 2019

It was a chilly January evening and the room was bursting with optimism as prideful families watched teary eyed as students became graduates. Among the group were your future and very eager Dental Assistants & Dental Hygienists ready to join the work force. I was fortunate to be sitting on stage alongside the faculty and staff of a prominent career college that had invited me to deliver the commencement speech. I spoke about perseverance and strategies for the job hunt ahead of them. But...Read More

The art and science of Social media marketing for dentists

To successfully market a dental office on Facebook, Instagram or any other social media platform, you need to spend a good amount of time creating and posting different forms of media and messaging. The beauty of the digital age is that you no longer have to guess what your audience wants because through data they WILL tell you! In this article I will provide you with a few things you can do to see immediate results in you online marketing efforts. When building an ad the first thing is to try...Read More

Buy a Second Practice: How to Enrich Vendors, Get Really Stressed, and Make Less Money

Do you really like your banker, equipment supply rep, landlord, real estate broker, attorney, and accountant?  Do you like them so much you’d like to pay them even more while your fortunes decline?  Great.  Then open a second dental office. We hear about clients wanting to buy second offices or start a DSO (Dental Service Organization, e.g, Pacific Dental Services) nearly every day.  They go to a seminar, get excited, talk to friends who’ve done it, then start mapping it out.  The...Read More

The Lure of the Multi-Practice Model

As most of you know, the dental industry is experiencing significant changes. Among them are:  Decreased reimbursement levels from the providers, particularly the elimination of Delta Premier reimbursement rates to all new owners of GP and certain specialty dental practices, The rise of the Large Group Practice, such as PDS, Western Dental, Aspen, and others, The rise of small group practices consisting of 2-10 offices (these constitute 80% of the DSO/MSO space), Excessively high practice...Read More

What’s the right way to pay your hygienists?

What’s the right way to pay your hygienists? And how are we STILL talking about this after all these years? Because it’s confusing…that’s why! Let’s start from the top. Are these statements true or false? It is okay to pay your hygienists on a daily rate? It is okay to pay your hygienists per patient? You’re probably hoping the answer is “true” to both statements, because often dentists pay their hygienists a daily rate. I’ll put your mind somewhat at ease and tell you, TRUE,...Read More
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