Are you worried your practice may stop growing if we face another recession?
Is it possible to grow your practice even during a recession?
Listen to this episode to discover a few things that need to be in place according to Gary that he learned from his experience during the great recession that would not only help your practice survive a recession but grow as well.
This episode also features a clinical tip from Dr. Pavel Krastev on Recapitulation in Endodontics.
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Timestamps
Today’s Clinical Tip
- 00:03:04 – Pavel Krastev on Recapitulation in Endodontics in Your Practice by Dr. Jeremy Krell
Coaching In Action
- 00:08:54 – Gary talks about purchasing LifeSmiles when recession was right around the corner.
- 00:10:46 – Gary talks about the different economic declines he has faced so far.
- 00:13:11 – Gary makes a statement about his views on the best practice model.
- 00:15:46 – Gary talks about 4 specific lessons we can learn from the great recession.
- 00:15:57 – Lesson Number 1
- 00:21:07 – Lesson Number 2
- 00:23:57 – Lesson Number 3
- 00:28:37 – Lesson Number 4
Q&A Segment
- 00:29:33 – Question Number 1 – I spend close to 4% of my revenue on google Ads. How would you change this in a recession?
- 00:31:27 – Question Number 2 – How far back should I go to reactivate past due hygiene patients?
- 00:34:04 – Question Number 3 – I am really excited about growing the invisalign component of my practice. Should I hit the brakes during a recession? Or stick with my plan?
- 00:38:51 – Question Number 4 – I like your idea of focusing on fundamentals. Can you suggest three specific fundamentals that I should be working on?
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!