The practice is one of the most significant assets for a dentist, and in this episode Gary will share 5 strategies that will naturally lead to an increase in the value of the practice.
Listen to the episode to find out.
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Growth of your practice is an example because the truth is, the larger your practice is, the more valuable it is. So if your practice stops growing, the value of the practice isn’t going to increase.
In this episode, Gary will share 5 strategies to increase your practice’s value.
Time Stamps
- 00:24:00 – Introduction to the episode.
- 00:00:46 – Announcement on The Thriving Dentist MBA Workshop
Today’s Thriving Dentist Clinical Tip
- 00:03:15 – How to find the correct diagnosis for patients that come to you in acute pain by Dr. FannyYacaman; MSEd; M.S.Advanced Endodontist & Microsurgery
Coaching In Action
- 00:09:45 – Strategy Number 1
- 00:10:46 – A practice growth tip Gary shares with his coaching clients.
- 00:13:56 – Strategy Number 2
- 00:17:27 – Strategy Number 3
- 00:21:38 – Strategy Number 4
- 00:25:12 – Strategy Number 5
Q&A Segment
- 00:29:27 – Question 1 – My practice seems to be stuck and not growing. We had virtually the same production and collection numbers for the last seven years. How can I get back on a growth track?
- 00:34:28 – Question 2 – I am interested in resigning from PPO Plans but currently 90% of my patients are PPO patients. Can I even do this?
- 00:35:25 Question 3 – What technology do you feel provides the best Return on Investment?
- 00:41:24 – Question 4 – What would be an appropriate marketing budget to achieve double digit percentage annual growth?
- 00:44:34 – Question 5 – I realize my practice has few business systems. Where is the best place to start?
Resources
Gary Takacs
Gary became a successful practice owner by purchasing a fixer-upper practice and developing it into a world-class dental practice. He is passionate about sharing his hard-earned insights and experiences with dental practices across the globe. As a dental practice coach, Gary provides guidance for dental professionals on how to create a healthier practice style that lets them deliver excellent patient care while reducing depending on insurance.
More importantly, Gary’s insights are not just based on theory – as a co-owner of a dental practice, he has first-hand experience in making this transformation from a high-volume and low-fee insurance model to a fee-for-service approach that is more sustainable and promotes a patient-centric and financially healthy dental practice, and he is dedicated to sharing this knowledge with other dental practitioners via the popular Thriving Dentist Show!