In this episode, Gary talks about the benefits of adding a part-time specialist to your general dental practice and the reason why specialists choose NOT to own their dental practice presently.
This episode features a Dental CPA Insight from David Goodman, CPA, on the topic of “KPIs and metrics you should use to guide your practice.”
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There is a growing trend of more specialists choosing NOT to own their practice but rather work with a select group of general dentists in their area working 2-3 days per month in 5 or 6 general dental practices.
Gary helps you understand why specialists choose not to own their practice and how you could add part-time specialists to your dental practice and benefit from it.
One of the advantages Gary talks about is that by adding a part-time specialist to your general practice, you can lower your overhead expense. How can that be done?
Listen to the episode to find out how adding a part-time specialist will lower your overhead along with more benefits a part-time specialist will bring to your general dental practice.
Coaching In Action
- 00:04:44 – A growing trend in dentistry Gary has observed.
- 00:05:57 – Why are more specialists choosing not to own their own practice?
- 00:07:29 – What are the benefits to the general dentist for bringing a specialist in?
- 00:07:51 – Benefit #1
- 00:09:40 – Benefit #2
- 00:13:52 – Benefit #3
- 00:16:58 – Benefit #4
Today’s Thriving Dentist Dental CPA Insight
- 00:24:58 – KPIs and metrics you should use to guide your practice by David Goodman, CPA
- 00:30:36 – Question 1 – I’m intrigued about this concept! Does the Specialist also bring an Assistant or do I provide one of my Assistants?
- 00:33:09 – Question 2 – When I look at my referral reports, the three largest clinical areas that I refer out are; Endo, Oral Surgery and Ortho. Of these three services, which might make most sense to bring a Specialist into my practice first?
- 00:37:47 – Question 3 – In my practice I believe that I could support an Oral Surgeon 2-3 days per month, but I’d like to grow that to 1 day per week. I’m doing very little marketing now. What marketing would you suggest I add to grow the oral surgery demand to 1 day per week?
- 00:46:43 – Question 4 – I’m sure it depends on the speciality service, but will I need to invest in significant equipment in my practice to successfully add a Specialist to my practice?
- 00:50:21 – Question 5 – We have worked very hard to develop a very strong culture of service in my practice. How can I screen any potential Specialist to make sure they fit our practice culture?
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!