Always begin with the end in mind. In this episode, Gary talks about a system to control the five most significant expenses in a dental practice.
Listen to the episode to find out the 5 largest expenses and how you can control them.
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Time Stamps
Clinical tip
- 00:03:23 – Repair of direct composite restorations by Dr. Marco Gresnigt
Coaching In Action
- 00:10:05 – Is everything a math equation?
- 00:11:07 – Gary shares a story about his grandmother and how she had influenced him so far.
- 00:13:50 – Gary talk about the 5 largest expense categories
- 00:14:47– Number 1
- 00:17:34 – Number 2
- 00:18:53 – Number 3
- 00:19:28 – Number 4
- 00:20:59 – Number 5
- 00:28:10 – Can everyone get their overhead to 60% or less?
- 00:29:10 – Naren talks about a recent case study.
Q&A Segment
- 00:32:58 – Question 1 – I also listen to your other podcast Less Insurance Dependance podcast. Where does my insurance write offs fall into this expense discussion?
- 00:37:52 – Question 2 – Given the shortage of quality team members in dentistry today it seems to me that team wages will be increasing. Is that 28% goal for team wages still realistic in the face of these rising wages?
- 00:41:25 – Question 3 – I am on the fence about adding CEREC. Your thoughts?
- 00:47:30 – Question 4 – Gary I have heard you talk about the economics of growth. Can you please share your thoughts about how this relates to reducing overhead?
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!