Inflation is a significant challenge everyone faces right now but is it a challenge or an opportunity to succeed? Listen to the episode to find out.
Subscribe To Our Podcast
We haven’t seen inflation this high in the last 40 plus years, and this is a challenge that we all have to get through.
In this episode, Gary will share 4 strategies to help your practice thrive despite the inflation crisis we are facing currently.
This episode also features a clinical tip from Alan G. Stern, DDS on Team Management.
Today’s Clinical Tip
- 00:03:06 – Team Management by Alan G. Stern, DDS
- 00:11:04 – Gary makes a very specific point about inflation.
- 00:12:40 – Gary talks about the great recession.
- 00:14:09 – Gary talks about 4 specific strategies to thrive during inflation.
- 00:14:37 – Strategy Number 1
- 00:20:36 – Strategy Number 2
- 00:23:26 – How do world class practices finish their day with more production than they started?
- 00:25:51 – Strategy Number 3
- 00:30:17 – Strategy Number 4
- 00:34:02 – Question 1 – Dental Team member wages are out of control. I recently lost a dental assistant who was offered a position literally at twice the hourly rate. How do I compete?
- 00:40:32 – Question 2 – Should I consider raising my fees in my practice, when 80% of my patients are PPO patients?
- 00:42:56 – Question 3 – I am getting close to the point of adding an associate doctor in my practice. I’d like to avoid a revolving glass door of associates. Any tips?
- 00:45:28 – Question 4 – Is it still possible to have overhead 60% or less in an inflationary cycle?
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!