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Bulletproof Dental Practice

Written by: Dr. Peter Boulden & Dr. Craig Spodak
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  • Summary

  • Dentistry is evolving - Is your practice BULLETPROOF? Marketing. Systems. Leadership. Proven strategies to grow your practice with co-hosts Dr. Peter Boulden and Dr. Craig Spodak.
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Episodes
  • Who’s Got the Monkey

    Who’s Got the Monkey
    Apr 17 2024
    The Bulletproof Dental Podcast Episode 344 HOSTS: Dr. Peter Boulden GUESTS: Dr. Trey Tippit and Dr. Dwight Peccora Join us as we break down the well know Harvard Business Review: "Who's got the Monkey" and apply it to the world of delegation, boundaries, and time management in the dental practice. We explore the concept of 'monkeys' - those pesky tasks or problems we delegate to others - and provide invaluable insights on effective delegation strategies and problem-solving techniques. From setting clear expectations to fostering open communication, we'll uncover the keys to preventing monkeys from taking over your work life. Get ready to empower yourself and your team to tackle challenges head-on while maintaining a healthy work-life balance. TAKEAWAYS Delegation is essential for effective management and growth in any organization. Setting boundaries and managing expectations are crucial for preventing tasks and problems from becoming overwhelming. Clear communication and time management are key to successful delegation. Taking ownership of one's responsibilities and empowering others to take ownership of theirs leads to a more efficient and productive workplace. Set a structured time to address problems and have conversations with the team. Avoid discussing important matters over email or text messages. Assign a specific time and level of responsibility for each task or problem. Leaders should empower their team and encourage independent thinking. Maintaining a healthy work-life balance is crucial for personal and professional growth. Building and selling small dental practices can be a successful business model. There are different approaches to scaling dental practices, with some dentists opting for a decentralized network and others choosing centralization and consolidation. Outsourcing certain aspects of dental practice operations, such as revenue cycle management, can help streamline processes and improve efficiency. The future of AI in dentistry holds promise, but the technology is still evolving and its full potential has yet to be realized. The dental industry may experience a Renaissance in the coming years, with increased investment and consolidation. Collaboration and learning from others in the industry, even those with different approaches, can lead to valuable insights and growth opportunities. CHAPTERS 00:00 - Introduction and Nostalgia 01:31 - Fitness and the Importance of Taking Care of Your Body 06:17 - The Story of 'Whose Monkey Is It?' 09:10 - The Rules of Managing Monkeys 16:25 - Limiting Time and Setting Boundaries 24:01 - Structured Time and Problem-Solving 28:30 - Effective Communication: Face-to-Face vs. Email 30:11 - Assigning Time and Responsibility for Tasks 32:38 - Empowering the Team and Encouraging Independent Thinking 34:22 - Maintaining a Healthy Work-Life Balance 41:11 - Building and Selling Small Dental Practices 47:58 - Introduction and Different Approaches to Scaling Dental Practices 48:30 - The Role of Outsourcing in Dental Practice Operations 52:02 - The Potential for a Dental Industry Renaissance 01:06:23 - Collaboration and Learning from Diverse Perspectives in Dentistry REFERENCES Bulletproof Summit 2024 Dental Students use code: BPSTUDENT for your discount!
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    1 hr and 8 mins
  • Enrolling More Dentistry

    Enrolling More Dentistry
    Apr 10 2024
    The Bulletproof Dental Podcast Episode 343 HOSTS: Dr. Peter Boulden and Dr. Craig Spodak TAKEAWAYS Comprehensive diagnosis is essential, but effective delivery of treatment plans is equally important. Recording consultations can help dentists improve their presentation skills. Fear of rejection and discomfort can hinder effective enrollment. Empathy and understanding the patient's perspective are crucial in the enrollment process. Body language and context play a significant role in treatment presentations. Use patient-benefited language and avoid technical jargon to effectively communicate with patients. Record frequently asked questions and provide videos or resources to patients prior to consultations. The belief set and confidence of the doctor are important factors in patient acceptance. Storytelling and leadership can engage patients and build trust. Avoid talking to patients in a supine position and consider using consultation rooms for treatment presentations. Establish a smooth patient handoff process to ensure continuity of care. CHAPTERS 00:00 - Introduction and Reflection on the Podcast 02:04 - Updates and Speaking Engagements 03:01 - Enrolling More Dentistry and Student Discount 04:06 - Personal Experience with Lecture at Dental School 07:42 - Dental Summit and Booking Hotel Rooms 09:04 - Importance of Enrolling Dentistry 12:00 - Saying More vs. Comprehensive Diagnosis 13:20 - Recording Consultations for Self-Improvement 18:08 - Fear of Rejection and Sweaty Back Conversations 21:44 - Importance of Body Language and Empathy 25:09 - Context Matters in Treatment Presentation 27:14 - Patient-Benefited Language 29:39 - Recording Frequently Asked Questions 30:00 - The Belief Set and the Confidence of the Doctor 32:41 - Storytelling and Leadership 39:45 - Consultation Rooms vs. Treatment Rooms 45:29 - Patient Handoff Process REFERENCES Bulletproof Summit 2024 Dental Students use code: BPSTUDENT for your discount!
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    55 mins
  • The Steps of Acquisition or Start-up

    The Steps of Acquisition or Start-up
    Apr 3 2024
    The Bulletproof Dental Podcast Episode 342 HOSTS: Dr. Peter Boulden GUESTS: Dr. Trey Tippit and Dr. Dwight Peccora TAKEAWAYS Understanding the differences between acquisitions and startups is crucial in making informed decisions. Financial factors such as revenue, debt-to-revenue ratio, and cash flow play a significant role in acquisitions. Operational efficiencies and utilization rates are key metrics to consider in underperforming practices. Determining the purchase price based on body count can help in evaluating the value of an acquisition. Body count, or the active patient count, is an important metric to consider when evaluating an acquisition. Different metrics, such as average production per patient visit, can provide insights into the efficiency of a practice. Addressing attrition and periodontal disease is crucial in maintaining patient retention and improving overall oral health. Using effective verbiage and communication techniques can help navigate uncomfortable conversations with patients and team members. A letter of intent (LOI) is a non-binding agreement that outlines the terms and conditions of an acquisition, and it is important to clearly communicate expectations and components in the LOI. Negotiating the deal involves discussing important components such as non-compete clauses. Due diligence is crucial and should include reviewing financial data, evaluating equipment and IT systems, and assessing the team and culture of the practice. Using memorandums of understanding (MOUs) and letters of intent (LOIs) can help facilitate the acquisition process. Phasing in changes after the acquisition can help build trust and retain the team. Learning from mistakes and continuously improving the acquisition process is essential. CHAPTERS 00:00 - Introduction and Overview 00:58 - The Importance of Understanding Acquisitions 08:08 - Factors to Consider in Acquisitions 11:50 - Identifying Acquisitions 14:46 - Analyzing Financials in Acquisitions 23:31 - Utilization Rate as a Key Metric 28:35 - Determining Purchase Price Based on Body Count 31:14 - Different Metrics for Evaluating Efficiency 34:13 - Evaluating the Value of a Practice 36:08 - The Impact of Attrition in Acquisitions 45:33 - The Importance of Verbiage in Uncomfortable Conversations 51:29 - The Significance of a Letter of Intent (LOI) 57:34 - Negotiating the Deal 58:33 - Important Components to Include 01:02:07 - Using MOUs and LOIs 01:03:12 - Due Diligence Overview 01:05:18 - Day One Priorities 01:06:19 - Phasing in Changes 01:12:20 - Continuing the Discussion 01:19:09 - The Learning Process REFERENCES Bulletproof Summit Bulletproof Dental Practice
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    1 hr and 27 mins
Management & Leadership Personal Success Marketing & Sales Economics
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