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Episode 477

The Myth Busting Episode

Host: Gary Takacs | Published Date: March 3, 2021 | Listening Time: 00:54:18

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In this episode, Gary shares five common myths that dentists believe in. These myths often hold dentists back from achieving their full potential restricting their mindset.

This episode features a Dental CPA Insight from Barry Oliver, CPA/PFS, on the topic of “Backdoor Roth IRA.”

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The mindsets that hold us back are “myths.” What are your misbeliefs?

There are several delusions that dentists believe in piloting in the wrong pathway.  In this episode, Gary shares five common misconceptions that block dentists from choosing the path to success.

Here are the top 5 myths he goes into depth in this episode.

  1. Hygiene is a Loss Leader
  2. I Must be a PPO Provider
  3. Partnerships Don’t Work
  4. Patients will Only Accept Treatment Covered by Insurance
  5. I Can’t Attract Quality Team Members

Listen to the episode to unlock the barriers limiting your mindset and holding you back from achieving your full potential.

Time Stamps

Coaching In Action

Today’s Thriving Dentist Dental CPA Insight

  • 00:27:53 – Backdoor Roth IRA by Barry Oliver CPA/PFS

Q&A Segment

  • 00:33:32 – Question 1 – Gary, I am a regular listener, and I have heard you discuss a production goal each day for my hygienist, and I am only hitting about 75% of that goal. What specific recommendations do you have for us to get closer to 100% of the goal?
  • 00:38:30 – Question 2 – My practice currently has 90% PPO patients. Is there any possibility that I could successfully resign from PPO Plans when my practice is so dominated by PPO patients?
  • 00:40:54 – Question 3 – I have an opportunity to add a great Associate Dentist to my practice. This individual would like to have equity. What steps would you recommend?
  • 00:45:32 – Question 4 – We struggle with case acceptance for any treatment not covered by dental insurance. How can I improve in this area?
  • 00:49:41 – Question 5 – Our area has an extreme shortage of dental team members. We often get -0- responses to our ads for an open position. How can I attract quality team members with these circumstances?

Resources


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