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Episode 466

Is the Solo Dentist Practice Model Dead?

Host: Gary Takacs | Published Date: December 16, 2020 | Listening Time: 00:55:48

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Like most industries dentistry too is susceptible to the influences of the economy, technology, etc. It is becoming increasingly clear that the solo practice model is becoming obsolete. In this week’s episode, Gary discusses the future of the solo practice model as well as the possible options for dentists looking to transition out of this model.

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While solo dentistry may not be dead it is evident that it is on life support. The task of keeping up with technology and keeping the overhead under 60% can be overwhelming to most solo practitioners. 

In this episode, Gary advocates a practice model that he feels will deliver dentists success, satisfaction, and better work-life balance. Listen Now!

Time Stamps

  • 00:00:24 – Introduction
  • 00:02:37 – Clinical Tip by Dr. Stephen Wagner DDS, FACP – Justi Milling & Polishing Cream used to refine the occlusion.
  • 00:07:37 – Why is Naren not sure if the Solo Dentist practice model is ideal anymore?
  • 00:09:03 – Is the Solo dentist practice model dead?
  • 00:10:59 – 2 Fundamental reasons why the Solo Dentist model is being challenged today.
  • 00:16:41 – What is the common denominator amongst dentists who have successfully retired?
  • 00:20:25 – What is the concept that Gary think’s a lot of Dentists don’t fully understand?
  • 00:21:05 – Different ways a multi-doctor practice can be done?

Q&A Segment

  • 00:35:31 – Question 1 – Gary, I have never hired an Associate. What is the best way to find an Associate who is a good fit for my practice?
  • 00:43:02 – Question 2 – This topic really resonates with me! Currently, I know that I am too busy for just one Dentist, but I’m not sure I am busy enough for a second Dentist. How can I make sure that I am busy enough to add an additional Dentist?
  • 00:46:45 – Question 3 – I have a potential Associate who I recognize to be a very sharp young Dentist. I want to make sure that I keep her and not have her leave for a better opportunity elsewhere. Would it be wise to offer her a potential partnership??
  • 00:50:25 – Question 4 – I am a Senior Dentist thinking about transitioning my practice to my successor. I like to think that I am a young and healthy 60 year old and I’m enjoying practicing, but I would like to slow down a little. I’d also like to practice maybe another 7-8 years assuming I stay healthy. How would you advise me to proceed given these goals?

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Gary Takacs

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!
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Podcast Assistance by Jodey Smith, Rodecaster Expert