Success Strategies for Dental Practice Owners

Naomi Goldman, a seasoned aesthetic dentist with a deep familial connection to the profession, has become a prominent figure in the field through her innovative approach to patient loyalty and practice growth. Having taken over her father's practice in 2014, Naomi has successfully transitioned the practice to a fee-for-service model, emphasizing the importance of building strong patient relationships and offering exceptional customer service. She believes that creating a comfortable, spa-like environment and utilizing advanced technologies such as 3D scans and soft tissue lasers not only enhances patient experiences but also sets her practice apart from competitors. Through strategic marketing on Instagram and investing in her team, Naomi has doubled her patient base, illustrating her commitment to fostering a collaborative environment and ensuring sustained practice growth. Here’s what to expect this episode: ·Transitioning from in-network insurance to fee-for-service requires focus on patient retention and technology investments. ·Building trust, offering customized experiences, and excellent customer service are key to retaining patients during the transition. ·Marketing on platforms like Instagram attracts cosmetic-focused patients and aids in the transition to fee-for-service model. ·Utilizing Instagram, thank you cards, and valuable information contributes significantly to practice growth. ·Elevating patient experience through consultations, new patient gifts, and comfort menus is crucial for setting the practice apart. ·Incorporating soft tissue laser applications during hygiene visits improves patient experience by reducing inflammation and bleeding. ·Investing in staff through bonuses, goal setting, and profit-sharing is essential for practice growth and success. Connect with Naomi Goldman: https://www.linkedin.com/in/naomi-goldman-5216018a/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

How can dentists who’ve sold their practice invest their earnings to create stable, long-term income without taking on excessive risk? Host Stan Kinder welcomes investment advisor Julian Rubinstein, whose expertise lies in helping dentists turn the sale of their practice into long-term financial security. With a disciplined, low-volatility strategy aiming for 8% returns, Julian guides clients through smart investment planning, retirement readiness, and post-sale income generation—without requiring a minimum asset threshold. He shares actionable advice on choosing the right advisor, setting goals early, and redefining retirement as a time to enjoy life with purpose. Julian also offers insight into how understanding the strategies of dental industry buyers can benefit sellers in the long run. Whether you're planning your exit or building a financial future beyond dentistry, this conversation delivers strategic insights with clarity and impact. Here is what to expect on this week’s show: • Diversification for consistent returns • Permanent portfolio strategy • Weathering market downturns • Tax implications in retirement planning • The changing dynamics of the dental industry Connect with Julian Rubinstein: https://www.americanasset.com/team-member/julian-rubinstein Learn more about your ad choices. Visit megaphone.fm/adchoices

Kartik Antani offers insightful perspectives on Dr. Partik Antoni's journey in dentistry, emphasizing the significant influence of familial inspiration and strategic career choices. Acknowledging Dr. Antoni's bold move from New Jersey to New Mexico, Kartik highlights the advantageous decision to acquire existing dental practices in underserved areas, which provided a robust foundation for growth. By leveraging established systems and engaging in partnerships with like-minded individuals, Dr. Antoni effectively navigated the complexities of expanding his practice, demonstrating astute business acumen. Kartik further underscores the importance of cultivating a strong company culture and hiring based on personality and capability, which play crucial roles in maintaining patient care quality and successfully scaling the practice. Here’s what to expect this episode: · Acquiring existing practices through acquisitions allowed for immediate cash flow and utilization of existing systems. · Strategic approach to each acquisition such as with a retiring dentist, associate-driven practice, and hygienist-owned practice. · Transitioning from chairside practice to focusing on managing the business is crucial for scaling up dental practices. · Identifying undervalued distressed dental practices can lead to profitability by implementing operational improvements. · Establishing a positive culture within dental organizations is important for team alignment and patient experience. · Hiring like-minded individuals and setting clear standards for accountability is crucial for the success of dental practices. · Human capital is a limiting factor in the success of dental practices, emphasizing the importance of experienced personnel and external help. Connect with Kartik Antani: https://www.linkedin.com/in/kartikantani/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Daniel Bobrow, founder of AIM Dental Marketing, brings over 35 years of expertise in dental marketing, evolving from traditional methods like direct mail to a comprehensive array of digital services. He champions the importance of accountability and transparency, urging dental practices to hold their marketing firms accountable through robust reporting mechanisms. Bobrow believes in personalized patient acquisition strategies, emphasizing rapport, empathy, and effective listening to convert calls into appointments. Balancing traditional and digital marketing, he underscores the need for consistency in messaging and the significance of patient lifetime value in guiding strategic investments and enhancing long-term profitability. Here’s what to expect this episode: Dental practices should focus on converting inquiries into appointments effectively for a high return on their marketing investment. Understanding patient lifetime value, return on investment, and acquisition costs is crucial in dental marketing programs. Data-driven analysis and strategic planning are key to maximizing the effectiveness of dental marketing programs. Patient retention is essential for long-term success in dental practices, along with attracting new patients. Balancing newer digital marketing strategies with traditional methods can lead to successful marketing outcomes. Successful practices invest a significant portion of their revenue into marketing for growth goals. Connect with Daniel Bobrow: https://www.linkedin.com/in/dannybobrow/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Mike Neal is a pioneering advocate for innovative hiring practices in the healthcare sector, particularly dentistry. He believes that traditional hiring processes, which rely heavily on resumes, are outdated and unreliable, often missing crucial information about candidates. Neal champions an automated hiring system that prioritizes candidates' mindset, personality, and aptitude, thereby ensuring that team members are genuinely interested and well-suited for the job. Through his platform, Build My Team, he revolutionizes the hiring process by using assessments to match candidates' strengths and talents with job roles, providing high performing practices with a more efficient and effective approach to hiring. Here’s what to expect this episode: Build My Team uses assessments to match applicants' strengths and talents with roles, improving hiring efficiency. Automated system filters out applicants unwilling to complete assessments, ensuring serious candidates progress. Candidate Assessment Process evaluates mindset and speed of learning for healthcare practice fit. Mike Neal emphasizes evaluating candidates' ability to follow processes and procedures within dental practices. Automated process selects finalist candidates for dental practices based on video interviews to assess communication skills. Hiring algorithm is customized for each position, matching candidates with roles based on specific success factors. Candidate screening process focuses on optimizing rejection process and tailoring algorithm to each job role. Connect with Mike Neal https://www.linkedin.com/in/dr-michael-neal/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Cris Duval, a seasoned dental hygienist with over 24 years of experience, has become a passionate advocate for addressing the hygienist shortage in dentistry. Duval believes this shortage, exacerbated by the pandemic, has led to widespread burnout and disillusionment among dental hygienists, prompting many to consider alternative careers. She emphasizes the necessity of regaining impact and influence with patients, advocating for a broader understanding of the hygienist's role in patient care beyond routine cleanings. Through her innovative lifeguard approach, which merges science-based protocols and technology, Duval aims to enhance patient care and wellbeing, encouraging others to adopt this method and transform their practices. Here’s what to expect this episode: The lifeguard approach focuses on guiding and guarding patient health and wellness through science-based protocols and quality questions. Hygienists can experience moral injury and burnout when unable to provide care according to their values and patients' needs. Shifting to life-saving screenings such as oral cancer, blood pressure, and pathogen screenings can significantly improve patient outcomes and redefine the purpose of a hygiene visit. There is a crisis in dentistry post-pandemic with a shortage of hygienists and understaffing in hygiene departments, potentially linked to moral injury factors. Compensating hygienists based on patient outcomes and production value can align incentives with high-quality care and improve job satisfaction. Outsourcing podcast production allows for focus on hosting and content creation, demonstrating transparency and collaboration. Connect with Cris Duval: https://www.linkedin.com/in/priscilla-cris-duval-413a787/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Why must a successful dental practice emphasize the value of diverse experiences through residency? Jessica Pharar is a dedicated dentist in private practice in Las Vegas, who recognizes the unique dental needs of cancer patients and has launched a foundation focused on delivering specialized dental care to this vulnerable group. Drawing from her experience in oncology care, Jessica advocates for being prepared for unexpected cancer diagnoses and ensuring optimal success for patients transitioning to cancer treatment. She integrates cancer patients into her regular schedule, prioritizing timely care for those referred through the oncology system, while dedicating specific days to administrative tasks for her nonprofit foundation. Jessica collaborates with other dental providers to empower them to treat cancer patients, emphasizing community involvement and the strategic use of social media to build trust and attract patients, and strongly supports dental residencies to provide essential exposure, mentorship, and advanced skills. Here’s what to expect this episode: Jessica Pharar integrates cancer patients into her regular practice schedule while dedicating specific days for nonprofit administration. She collaborates with other dental providers to empower them to treat cancer patients and expand specialized care beyond her own practice. Jessica emphasizes the importance of building reputation in the local community and leveraging social media for marketing in dental practice. She highlights the value of gaining diverse experiences through residency to enhance one's skills and knowledge as a dentist. Connect with Jessica Pharar: https://www.dentistsoflasvegas.com/about-us/our-teamhttps://www.linkedin.com/in/jessica-pharar-64220914/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

John Montoya, a dedicated dentist who graduated in 2001, brings extensive experience in managing multiple dental practices to the table. Initially establishing a successful practice in San Diego, Montoya later moved to Boulder, Colorado, where he significantly expanded his operations and integrated additional practices into his office. Through his journey, Montoya learned that rapid expansion without proper systems could lead to significant challenges, emphasizing the importance of managing overhead and leveraging economies of scale. His insights into the necessity of business acumen and best practices in managing multiple practices have led him to start a buyer's group aimed at helping other private practices reduce costs, reflecting his commitment to both professional success and community support. Here’s what to expect this episode: Building up practices before selling them is important for profitability Balancing dentistry with business management is challenging Managing multiple practices requires equity partners and centralized staff Negotiating better pricing with vendors through economies of scale is crucial Participating in PPOs can be challenging due to the changing insurance landscape Utilizing AI to monitor inbound calls can improve patient interactions Training staff on specific systems and protocols is crucial for practice growth Connect with John Montoya: https://www.linkedin.com/in/john-montoya-90615918/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

John Montoya, a dedicated dentist who graduated in 2001, brings extensive experience in managing multiple dental practices to the table. Initially establishing a successful practice in San Diego, Montoya later moved to Boulder, Colorado, where he significantly expanded his operations and integrated additional practices into his office. Through his journey, Montoya learned that rapid expansion without proper systems could lead to significant challenges, emphasizing the importance of managing overhead and leveraging economies of scale. His insights into the necessity of business acumen and best practices in managing multiple practices have led him to start a buyer's group aimed at helping other private practices reduce costs, reflecting his commitment to both professional success and community support. Here’s what to expect this episode: Collaboration, growth, and leadership are key strategies for dental practice owners according to Dr. Kevin Cramer. Creating a win-win-win situation where patients receive excellent care, the team is supported, and the business thrives is crucial for a sustainable practice model. Continuous learning, a growth mindset, and openness to change are essential for success in dentistry according to Dr. Kevin Cramer and Stan Kinder. Balancing chairside dentistry with business management, establishing systems and processes, and using effective marketing strategies are important for managing a dental business. Viewing oneself as an entrepreneur first in the field and aligning one's career with personal strengths and preferences are emphasized by Kevin Kremer for success in dentistry. Succession planning is crucial for ensuring continued growth and value in dental practices according to Kevin Kremer. Connect with Kevin Kremer: https://www.linkedin.com/in/kevinkremerdds/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Jon Marashi, initially aspiring to be a professional skateboarder, discovered his passion in dentistry and has dedicated over 38 years to the field, particularly cosmetic dentistry. His perspective on cosmetic dentistry stems from his early fascination with smiles and their impact, igniting an interest in the field when he observed that straight teeth doesn't necessarily mean a beautiful smile. This epiphany led him to delve deeper into cosmetic dentistry, emphasizing the importance of knowing the desired outcome, becoming an expert through continuous learning and repetition, and showcasing his commitment by teaching, writing articles, and engaging with manufacturers. Despite challenges in acquiring his first dental practice, Marashi's persistence, trust in self, and continuous education led to the successful establishment of a practice in Orange County and cemented his position as an expert in the field. Here’s what to expect this episode: Skateboarding and dentistry create a balance between structure and creativity for Doctor Marashi. Transforming a rundown dental office into a successful practice showcases Doctor Marashi's ambition. Transition from clinician to entrepreneur is essential for success in dentistry. Passion for cosmetic dentistry fueled by early fascination with smiles. Early debt repayment is crucial for young dentists' financial future. Financial strategies are vital for dentists to navigate the evolving industry landscape. Challenges faced by young dentists require strategic decision-making and education for success. Connect with Dr. Jon Marashi: https://drmarashi.com/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

How can dental practices strike the right balance between direct response marketing and long-term brand building to drive sustainable growth? Bill Mulcahy, President of Sales and Marketing at Dental Revenue, sits with Stan Kinder to discuss the evolving world of dental marketing and how practices can strategically grow in a competitive landscape. Bill, who has been with Dental Revenue since 2010 and played a pivotal role in launching the company’s Performance Program, brings a wealth of experience from his background at major firms like GE Capital and Dominion Enterprises, as well as his work as a small business marketing consultant. Together, Stan and Bill delve into the importance of balancing direct response tactics with long-term brand building, tailoring each marketing effort to the unique goals of a dental practice. They emphasize the need for measuring outcomes through return on investment and understanding the lifetime value of patients. Bill shares practical guidance on building a strong online presence, utilizing real patient testimonials, and showcasing successful cases to build credibility and trust. He also advises dentists to take a phased approach to their marketing strategy to prevent burnout and ensure sustained results. The conversation offers valuable insights for any dental professional looking to modernize their marketing, attract new patients, and position their practice for long-term success. Here’s what to expect this episode: Balancing Strategies: Discover the delicate balance between direct response and brand building tailored to dental practices' unique goals and lifecycle stages. Effective Measurement: Gain insights into measuring marketing success through ROI, understanding patient lifetime value, and utilizing key performance indicators. Adapting to Dynamics: Understand the evolving landscape of patient acquisition, incorporating online presence, patient testimonials, and real cases for credibility. Strategic Implementation: Learn practical steps for systematic marketing execution, avoiding overwhelm and achieving success in manageable stages. Trends and Best Practices: Get insights into current dental marketing trends, including the role of technology, leveraging patient testimonials, and optimizing online platforms for enhanced visibility. Connect with Bill Mulcahy https://www.linkedin.com/in/bill-mulcahy-3b952b6/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

What if the biggest threat to your dental practice isn’t your clinical skills—but what you don’t know about running a business? Dr. Michael Goldberg shares his journey from accomplished clinician to influential practice management consultant. Drawing on his background in both dentistry and family business, Dr. Goldberg emphasizes that clinical skills alone aren’t enough for long-term success in the dental field. He discusses how he identified a major gap in traditional dental education—the lack of business training—and sought to fill it through his consulting firm, Practice Perfect Systems. The episode offers practical strategies for improving practice operations, staffing, and systems, while also addressing post-COVID industry challenges and the shifting role of female dentists in ownership. Dr. Goldberg also explores innovative methods for patient acquisition, such as collaborating with physicians, and provides a thoughtful analysis of the rising influence of Dental Support Organizations (DSOs). Listeners walk away with a compelling case for continuous learning and seeking expert guidance to thrive in today’s competitive dental landscape. Here’s what to expect this episode: Importance of Business Skills in Dentistry: Listeners will understand that clinical excellence alone doesn't guarantee success in dentistry. Effective Practice Management Strategies: The podcast offers insights into practical strategies for improving dental practice management. Adapting to Industry Changes and Challenges: The discussion sheds light on the evolving landscape of the dental industry, especially post-COVID-19. Innovative Patient Acquisition and Collaboration Techniques: Listeners will learn about unique approaches to patient acquisition, such as building collaborative networks with physicians Understanding the Role of DSOs in Dentistry: The podcast provides valuable insights into Dental Support Organizations (DSOs) and their growing influence in the dental sector. Connect with Michael Goldberg: https://www.kiddsteeth.com/meet-the-doctor Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Colin Carr is a distinguished real estate expert specializing in healthcare-related properties, with a particular focus on the dental industry. He emphasizes the critical importance of having specialized real estate expertise in the healthcare sector, as he has seen providers incur significant financial losses due to lack of proper representation in commercial real estate transactions. Carr's perspective is that knowledgeable advocacy during lease negotiations can save healthcare providers thousands of dollars per month and prevent unnecessary borrowing for build-out costs. To address this need, he founded a company that offers exclusive tenant and buyer representation for healthcare professionals, ensuring they are well-informed and not taken advantage of in real estate deals. Here’s what to expect this episode: Having expert representation in real estate transactions is crucial to prevent financial burdens and unnecessary costs for healthcare providers. Negotiating key lease elements can help healthcare providers avoid financial losses and maximize savings through strategic decision-making. Real estate brokers play a vital role in commercial real estate deals, especially in healthcare transactions, by saving clients money and protecting their interests. Commercial real estate acquisitions require thorough due diligence, negotiation skills, and strategic decision-making to ensure competitive terms and options. Engaging in negotiations with multiple landlords simultaneously can lead to competitive deals, informed decision-making, and significant cost savings for potential tenants. Specialized legal and real estate expertise is essential in healthcare and commercial real estate transactions to protect client interests and maximize financial outcomes. By having a knowledgeable team in place, clients can effectively navigate the commercial real estate market and ensure favorable outcomes for their business ventures. Connect with Colin Carr: Colin Carr | Chief Executive Officer | CARR https://carr.us/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Why is creativity important in marketing for dental clinics? Hassan Mushaid, an accomplished professional with a rich background in dentistry and business, specializes in marketing strategies for dental practices. Mushaid started his journey as a dental nurse, pivoting over time into the business and marketing side of dentistry due to his strong tech and business skills. He believes in performance marketing strategies for dental practices, a view shaped by his diverse experience in roles such as practice manager, business development manager, and territory manager for Invisalign. Mushaid emphasizes the importance of data, effective communication, and education in marketing, and uses his understanding of investment strategies and risk appetites to create marketing strategies that resonate with patients and boost revenue for dental practices. Here’s what to expect this episode: Tracking lifetime value is crucial for dental practices to make informed decisions about marketing strategies and investments. Creating a positive patient experience builds trust and leads to patients accepting more extensive treatments over time. Video marketing is essential in dentistry to engage with digital learners and effectively communicate with patients. Understanding the lifetime value of patients emphasizes the importance of long-term patient retention and satisfaction. Dental software providers have an opportunity to offer insights and marketing functionality to support practices. Creativity in marketing strategies is key for dental clinics to establish a strong brand identity and stand out in the industry. Connect with Hassan Mushaid: https://www.linkedin.com/in/hassanmushaid/?originalSubdomain=uk https://hassanmushaid.com/the-creative-composite-2/ Connect with Stan Kinder: https://www.everythingdso.com/ https://www.linkedin.com/in/stan-kinder-a3280a234/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Why is diversifying investment strategies important for long-term prosperity in the dental practice world? Curtis May, a seasoned financial advisor and principal at Practical Wealth Advisors, LLC, has a distinct perspective on financial literacy and investing, shaped by over three decades in the industry since 1985. May's approach focuses on teaching fundamental financial principles rather than promoting specific products, emphasizing the importance of managing cash flow, prioritizing savings, and investing in cash-flowing assets. He encourages individuals to take control of their finances and explore opportunities like real estate and business investments to generate passive income and ensure long-term financial stability. Through his podcast, YouTube channel, and website, May challenges traditional financial advice and offers alternative strategies, advocating for continuous financial education and understanding the impact of lost opportunity costs. Here’s what to expect this episode: Financial education is crucial in securing financial well-being and future prosperity. Investing in real assets that generate returns is more beneficial than tying up money in assets without tangible benefits. Building wealth through diverse investment strategies for financial freedom is key to long-term prosperity. Proper financial management, focusing on cash flow and minimizing losses, is essential for securing financial stability. Debt management should prioritize capital accumulation and cash flow over solely paying off debts. Seeking investment advice from unconventional sources like Rich Dad, White Coat Investor, and Dave Ramsey can provide valuable insights for wealth-building. Reading books on money is emphasized as a way to gain knowledge, improve financial literacy, and make sound financial decisions. Connect with Curtis May: https://www.linkedin.com/in/curtismay/ https://alphaomegawealth.com/pennsylvania/curtis-may/ Connect with Stan Kinder: https://www.everythingdso.com/ https://www.linkedin.com/in/stan-kinder-a3280a234/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Stewart Townsend, with an extensive background in the software industry and notable tenures at companies like Oracle and Zendesk, brings a wealth of knowledge to the realm of differentiation and unique selling points. Leveraging his expertise in indirect sales and channel partnerships, Townsend has transitioned from corporate roles to entrepreneurship, now consulting and building software companies. His unique perspective emphasizes the importance of conversations that assess an individual's fit within an organization, aiming to enhance career progression and workplace satisfaction. Townsend's insights extend to how dental practices communicate with customers, advocating for relationship-based approaches and innovative marketing strategies to drive business growth and patient retention. Here’s what to expect this episode: Utilizing referrals and resellers can help dental practices bring in business without needing a large direct sales team. Partnerships with complementary services like beauty parlors or plastic surgeons can generate qualified referrals and create additional revenue streams for dental practices. Collaborating with independent registered nurses to offer Botox services in unused space within the practice can attract new patients and create an independent income stream. Personality-oriented hiring focusing on traits and culture fit over skills and experience can improve patient interactions and create a positive work environment. Investing in ongoing personal development and soft skills training can help create a strong team bond and set dental practices apart from competitors. Innovative marketing strategies focused on community engagement and education can attract new patients and foster patient retention and business growth. Connect with Stewart Townsend: https://www.linkedin.com/in/stewarttownsend/ https://stewarttownsend.com/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Sharon Seeberan, a serial entrepreneur and co-founder of Cloud Medspa, leverages her extensive healthcare background to revolutionize the aesthetic and cosmetically focused practices in the Bay Area. With a keen belief in the cloud medspa business model, she emphasizes its potential to allow practitioners to refocus on patient care while efficiently managing scheduling, space rental, and revenue generation through advanced software. Sharon particularly highlights the symbiotic relationship between aesthetic procedures and cosmetic dentistry, maximizing underutilized rooms in dental practices to generate additional revenue and reduce overhead costs. She advocates for transparency and is committed to mentoring new practitioners, encouraging a collaborative environment that fosters growth and innovation within the industry. Here’s what to expect this episode: Maximizing underused rooms in dental practices can lead to additional revenue streams by renting out space to practitioners. Cloud Medspa locations offer training, mentorship, and support for new aesthetic practitioners, creating a supportive environment. Practitioners using the system can earn between $200 to $400 per hour, making it quite lucrative with high-profit margins. Networking amongst practitioners at shared spaces leads to better marketing and revenue growth, enhancing business skills and increasing client retention rates. The software used for managing Cloud Medspa locations is cloud-based, streamlining the process of renting space and managing schedules. Effort for Practitioner Acquisition is crucial to help practitioners understand and take advantage of opportunities in the aesthetics industry. The Shared Space Model at Cloud Medspa empowers entrepreneurs to run their own businesses without the overhead costs of owning a space, generating rental revenue. Connect with Sharon Seeberan: https://www.linkedin.com/in/shannon-hay-seeberan-480b004/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

How does someone with over 30 years of dental consulting experience view the complexities of practice transitions and valuations? Dr. Tom Snyder, a former Department Chair at the University of Maryland School of Dentistry and current faculty member at the University of Pennsylvania School of Dental Medicine, is a nationally recognized speaker, author, and consultant with over 30 years of experience advising dentists on strategic planning, practice valuations, and partnership formation. Currently overseeing valuation analysis for Henry Schein, he discusses dental practice transitions on host Stan Kinder's podcast, emphasizing how location, cash flow, and physical plant impact value through three approaches: market, income, and asset. Dr. Snyder, who earned his DMD from the University of Pennsylvania and MBA from The Wharton School, stresses the importance of early transition planning (3-5 years ahead), covering financial planning and practice improvements, while noting the typical 6-9 month timeline for selling a practice due to challenges with due diligence, financing, and lease transfers. He highlights major lending institutions like Bank of America and TD Bank, noting dentists' favorable loan repayment records, encourages prompt action considering economic uncertainties, discusses potential revenue growth when younger dentists introduce new procedures, emphasizes the value of professional consultation during transitions, and advises solo practitioners over 50 to assess their practice value and prepare contingency instructions. Here’s what to expect this episode: Dental Financing Landscape: Dr. Tom Snyder outlines the major players in dental practice financing, emphasizing how smaller banks may engage due to the sector's low default rates. Cash Flow is Key: The crucial role of cash flow in obtaining financing for dental practice acquisitions is underscored, contingent on a buyer's clean credit history and qualification. Post-Acquisition Growth Strategies: The podcast explores the potential for revenue growth after practice acquisition, emphasizing the positive impact of new practitioners with diverse skill sets. Professional Guidance Matters: Stressing the importance of professional advice, hosts highlight the role of consultants and coaches in ensuring a smooth and successful dental practice transition. Strategic Exit Planning: Dr. Snyder advises solo practitioners over 50 to assess their practice value and prepare a letter of instruction, emphasizing the need for a proactive exit plan in unforeseen circumstances. Connect with Thomas Snyder: https://dentalpracticetransitions.henryschein.com/leadership/dr-tom-snyder/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

What led Dr. Kyle Gernhofer from his military experience to creating Denscore? Kyle Gernhofer, a dentist and entrepreneur from northern Michigan, is the founder of Denscore, a direct-to-consumer dental navigation company established in 2019. Gernhofer's perspective on Denscore is deeply rooted in his commitment to enriching the dental industry by creating a platform that educates consumers about their dental care needs. Drawing from his vast experience in the field, including a stint in the US Navy and a decade of running a private practice in San Diego, he aims to make dentistry more accessible and comprehensible for consumers. This commitment extends to Denscore's business model, with strategic, non-dilutive investments and a strong focus on SEO strategies being employed to maintain the company's mission. Gernhofer's vision for Denscore is not just to aid consumers, but also to benefit dental practices by fostering a more informed patient base. Here’s what to expect this episode: Military experience in the US Navy provided Dr. Kyle Gernhofer with skills and confidence for dental procedures. Dr. Gernhofer's military experience led to his private practice and work at Denscore. Denscore analyzes user data to determine desirable dentists based on affordability, quality, and convenience. The Dental Practice Evaluation Algorithm evaluates dental practices based on experience, office hours, insurance participation, and payment plans. Importance of SEO in reaching a wider audience for the dental navigation tool and blog content. Denscore aims to enhance treatment decision support through AI learnings, work with DSOs, dental practices, and insurance companies. Connect with Kyle Gernhofer: https://www.linkedin.com/in/kyle-gernhofer-25abb8a/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

"I just never thought in all my life that I would be not practicing dentistry with my hands and that I'd be working with others to help them fulfill their dreams of ownership." - Lauren McDonough Dr. Lauren McDonough, the Vice President for Practice Ownership Development at Aspen Dental, brings her rich experience as a former multiple practice owner to guide and mentor future dental entrepreneurs. She champions the idea that aspiring dentists should maintain an open mind and conduct thorough research when exploring opportunities, ensuring alignment with an organization that shares their values and vision. With initiatives like "Preparing for Ownership or Partnership" and Aspen Dental's Tag University, Dr. McDonough underscores the vital role of mentorship and development programs in fostering dentists' professional growth and success. Her leadership not only empowers dentists through structured courses and cutting-edge technology but also encourages them to remain driven and focused on their personal and professional goals. Here’s what to expect this episode: Dr. Lauren McDonough's journey in dentistry began as a high school dental assistant, eventually leading her to own multiple practices showcasing growth and success in the field. Aspen Dental offers programs to guide dentists through different stages of ownership, from preparing for ownership to expanding influence as a multi-practice owner. Desired qualities in potential practice owners at Aspen Dental include leadership, determination, hard work, openness to feedback, and partnership. Aspen Dental's ownership program allows dentists to fast track to ownership by joining an existing office or purchasing an established practice within the organization. Choosing to affiliate with a DSO or private practice should align with individual values, growth opportunities, and personal goals. Development, mentorship, and alignment with organizational values are crucial for early career dentists, with Aspen Dental offering programs like Tag University for ongoing development opportunities. Connect with Lauren McDonough: https://www.linkedin.com/in/laurenmcdonoughdmd/ https://www.dentaleconomics.com/resources/contact/14296210/lauren-mcdonough-dmd Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices