Explorez tous les épisodes du podcast Dental Business

In this episode, I take a closer look at how contractual write-offs, insurance mix, and network leasing can quietly eat away at practice revenue and owner income, often without being obvious.

You’ll learn the five numbers every practice owner should be watching:

• Insurance mix
• Write-off percentage by plan
• Net collections
• Effective hourly rate by payer
• Patient concentration by insurance plan

I’ll break down how to calculate your effective hourly rate and why a procedure that looks profitable on paper may actually be costing your practice money once insurance adjustments, collections, and chair time are factored in.

But this isn’t simply a conversation about dropping insurance plans.

We’ll explore practical options for improving your payer strategy, including renegotiating fees, optimizing an in-network practice, adopting a hybrid model, or strategically transitioning away from certain plans. You’ll also learn how to approach timing, patient communication, front-desk scripting, membership plans, recall, and case acceptance so you can make changes without disrupting the patient experience.

Most importantly, you’ll walk away with a clear, data-driven starting point. We’ll identify three reports you can pull right now to better understand where your practice is making money, where it may be losing money, and which insurance relationships deserve a closer look.

• Learn how to calculate write-off percentages by insurance carrier using 12 months of production data.
• Identify two common traps that can hide profitability problems: outdated fee schedules and network leasing.
• Understand the five key numbers that should guide your insurance strategy.
• Calculate effective hourly rate by payer and compare collections against your cost per chair hour.
• Discover alternatives to simply dropping an insurance plan, including renegotiation, optimizing your in-network model, and creating a hybrid approach.
• Learn how to strategically transition away from plans when necessary while maintaining clear communication with patients.
• Get three actionable steps to complete this week: analyze write-offs by plan, identify active patients by insurance, and calculate effective hourly rates for your top procedures.

Your insurance strategy shouldn't be based on assumptions. It should be based on your numbers.

If you are looking to get some guidance for your practice, let us know! The KLAS Solutions Coaching team is here to help! Check out our website: klasdentalcoaching.com or klashealthcarecoaching.com to learn more!

A dental practice’s long-term success is driven by the quality of its team and the leadership behind them; not simply by having great systems in place.

In many practices, the owner sets the ceiling for what the team is capable of achieving. When the team isn’t performing at its potential, the solution often starts with the owner taking an honest look at their own leadership and being willing to change their behavior.

Two key tools can help raise that ceiling:

Everything DiSC helps team members understand their own behavioral styles and learn how to communicate more effectively with one another.

The Five Behaviors framework focuses on five building blocks of a high-performing team: trust, productive conflict, commitment, accountability, and results. Each builds on the one before it to create stronger teamwork and better performance.

These concepts need to become part of the practice’s daily operations. We recommend:

• Daily: A short, focused team huddle to align priorities and address immediate needs.
• Weekly: A leadership meeting focused on communication, challenges, and accountability.
• Monthly: A 90-minute paid team meeting focused on one shared practice scorecard and the behaviors that drive results.
• Quarterly: A strategic reset to evaluate performance, identify opportunities, and establish priorities for the next quarter.
• Ongoing: Clear roles, clear expectations, and a culture where team members hold one another accountable, not just the owner or manager.

The process doesn’t have to be complicated. Begin with a focused 90-day plan:

1. The owner completes the DiSC assessment and gains a better understanding of their leadership and communication style.
2. Identify one personal behavior to change and openly share that commitment with the team.
3. Rebuild the daily huddle so it becomes a meaningful communication and accountability tool.
4. Create an environment of trust and vulnerability where team members can have honest, productive conversations.
5. Establish one shared scoreboard so everyone can clearly see how the practice is performing and understand their role in the results.

When culture is turned into specific, teachable, and measurable behaviors, it becomes something a practice can intentionally improve.

The result is a stronger, more accountable team, less turnover, greater productivity, and a practice that can continue to perform well even when the owner steps away from the day-to-day operations.

Looking to try and implement these strategies in your own practice? Let's talk!

Visit: klasdentalcoaching.com -or- klashealthcarecoaching.com to learn more!

#DentalCoaching #HealthcareCoaching #PracticeTransitions #DentalEducation #KLASSolutions

Are you producing $1 million but only collecting $910,000? Where is the other $90,000 going?

In this episode, we take a closer look at one of the biggest financial issues facing dental practices: the gap between production and collections.

A 91% collection rate may sound good, but on $1 million in production, that means $90,000 is not being collected. Year after year, that gap can turn into hundreds of thousands of dollars in lost revenue.

We discuss why practice owners need to understand the difference between what their practice produces and what it actually collects, how these financial leaks happen, and why uncollected revenue is not an investment—it’s money your practice has already earned.

Most importantly, we share practical strategies to help you close the collection gap, recover lost revenue, and improve the financial health of your practice.

Because producing more isn’t always the answer. Sometimes, the biggest opportunity is collecting more of what you’ve already produced.

Takeaways:

• The significant disparity between production and collections indicates a serious financial leak within a dental practice.
• Practices that consistently collect only 91% of their production incur substantial losses over time, amounting to hundreds of thousands of dollars.
• Effective collection strategies focus on recovering money already earned rather than creating new income streams through increased production.
• Monitoring both the collection percentage and adjustments provides invaluable insights into a practice's financial health and operational efficiency.

Looking for guidance on how to run your practice effectively? Visit: klasdentalcoaching.com to see how we can help set your practice up for success!

In this week's episode, Phil Cole, CEO of KLAS Solutions, talks through the critical role of the hygiene department, which is often misperceived as a "cost center" when, in fact, it serves as the vital engine propelling the entire dental practice forward. Through a comparative analysis of two practices within the same area, we look at one practice's hygiene department merely meets payroll while the other exhibits a remarkable threefold production increase, effectively optimizing the doctor's schedule. The distinction does not stem from talent, but rather from a systematic approach that encompasses mindset, clinical protocols, and operational efficiency.

Throughout the conversation, Phil leaves some essential strategies, including an actionable 90-day implementation plan, to transform the hygiene department into a robust profit center. By the conclusion of this episode, Phil aspires to equip you with the requisite insights to elevate your practice's hygiene performance to unprecedented heights.

Takeaways:

• It is imperative to recognize that the hygiene department serves as the engine driving overall practice production, rather than merely a cost center.
• A significant discrepancy exists between two similarly equipped dental practices, where one excels in hygiene productivity, highlighting the importance of systems and standards in practice management.
• The success of a hygiene department hinges on the belief of its purpose, as viewing it as a profit center fosters investment and growth.
• Implementing a comprehensive periodontal program can dramatically improve patient outcomes and practice profitability, addressing the substantial gap in necessary care that many practices currently overlook.

To learn more about how KLAS Solutions can set your practice up for success, visit klasdentalcoaching.com!

In today's podcast, Phil Cole, CEO of KLAS Solutions, discusses the critical importance of case acceptance in dental practices. We dive into the financial implications of patient treatment refusals result in significant losses, as the expenses incurred prior to a patient's decision to decline treatment remain with the practice while the anticipated revenue dissipates. By emphasizing that case acceptance is fundamentally a communication issue rather than a mere financial one, we argue that enhancing understanding and urgency among patients can improve acceptance rates. Ultimately, this episode aims to equip dental professionals with actionable strategies to maximize the acceptance of treatment plans already established within their practice.

Takeaways from today's episode:

• The practice of case acceptance is critical, as it directly influences the financial viability of a dental practice.
• Patients often decline treatment not due to cost, but rather due to misunderstanding or lack of urgency regarding their dental needs.
• Effective communication and the use of visual aids can significantly enhance patient understanding and acceptance of proposed dental treatments.
• Scheduling accepted treatment immediately is essential, as this prevents the likelihood of a patient changing their mind before actual treatment occurs.

To learn more about KLAS Solutions, visit www.klassolutions.com!

In this week's episode, our discussion centers on the implications of patient retention within dental practices, wherein we assert that the most financially burdensome patients are those who are new, while the most cost-effective and lucrative are those who are already familiar with the practice. We explore the troubling phenomenon of patient attrition, and look at how practices often inadvertently allow existing patients to depart without securing their return, thereby incurring unnecessary marketing expenses to attract new clientele.

Our analysis reveals that many practices are unaware of the significant patient loss occurring quietly, often masked by seemingly stable production numbers. We emphasize the necessity of measuring and addressing this attrition through effective systems and practices, particularly focusing on the last moments of a patient's visit. We provide actionable strategies to enhance reappointment rates, which are essential for fostering a sustainable and profitable practice.

Things to Takeaway:

• The most expensive patient in your practice is a brand new one, highlighting the importance of retaining existing patients for profitability.
• Practices often fail to recognize the significant loss of patients leaving unnoticed through the back door rather than gaining new ones.
• The hygiene reappointment percentage serves as a critical metric to gauge patient retention and overall practice health.
• The last 90 seconds of a patient visit are crucial for ensuring a follow-up appointment is scheduled, directly impacting retention rates.
• A proactive approach to patient reactivation can yield substantial financial benefits, as many former patients simply need a reminder to return.
• Effective communication during the scheduling process is paramount; using assertive language can significantly increase the likelihood of follow-through on appointments.

Want to learn more about how KLAS Solutions can coach your team? Contact us at: info@klassolutions.com or 844-552-7100 or visit our website to learn more: klasdentalcoaching.com

Today's episode revolves around a critical yet often overlooked metric for dental practice owners: the cost of an open chair. This expense, although invisible in conventional financial statements, can significantly impact the overall profitability of a practice.

In this episode, we look at:

• The cost of an open chair in a dental practice can lead to significant lost revenue.
• Practices must calculate their daily production goals to effectively manage scheduling and productivity.
• Block scheduling is essential for optimizing a dental practice's operational efficiency and maximizing production.
• Effective appointment scheduling requires a proactive approach, ensuring patients leave with their next appointment booked.
• Managing broken appointments is critical, as they directly impact a practice's profitability and resource utilization.
• The hygiene department plays a crucial role in driving overall practice production through effective patient engagement.

Looking to learn more about our coaching program or just about KLAS Solutions? Learn more at:

• klassolutions.com -or-
• klasdentalcoaching.com

How well do you really know the health of your dental practice? In this episode, Phil Cole challenges practice owners to look beyond production totals and ask a fundamental question: Do you know the numbers that truly drive your business?

While most dentists excel clinically, many rely on intuition rather than data when making business decisions. Phil explains why this reactive approach can limit growth and introduces the concept of the practice "instrument panel"—eight essential key performance indicators that provide a clear picture of financial and operational performance.

You'll learn why tracking metrics such as production by provider, collection percentage, overhead, new patient flow, case acceptance, hygiene reappointment rates, active patient count, and accounts receivable is critical to understanding what's really happening inside your practice. More importantly, Phil explains how these numbers work together to identify opportunities, uncover challenges, and support smarter decision-making.

This episode serves as the foundation for the series, giving you a practical framework for measuring your practice's performance. Phil encourages listeners to begin tracking these key metrics now, setting the stage for future episodes that take a deeper dive into each one and show how consistent measurement can lead to greater profitability, efficiency, and long-term success.

The objective of today's discussion revolves around the critical nature of the transition phase following a dental practice acquisition, which is often overlooked by both buyers and sellers.

Upon the closing of a deal, it is important to recognize that this event signifies the start of a new chapter, rather than its conclusion. We dive into the intricacies of ensuring that the operational integrity and value of the practice are preserved during this delicate handoff.

Effective communication during the initial hundred days is paramount; it is during this period that trust is established among staff and patients alike. We will explore best practices for both buyers and sellers to ensure a seamless transition that safeguards the legacy and vitality of the practice.

This episode is centered around an exploration of the fundamental principles of transitioning dental practices, with a particular focus on the critical elements that contribute to a successful sale. The host, Phil Cole, describes two distinct narratives of dentists who, despite operating under similar conditions, experienced vastly different outcomes upon their retirement. This situation serves to illustrate the importance of diligent preparation in the months and years leading up to a practice sale. One dentist, who invested time and effort into preparing for his exit, was able to secure a transaction that not only ensured his financial future but also preserved the integrity of his team and the continuity of care for his patients. In stark contrast, the other dentist, who reacted to his burnout with haste, accepted a lowball offer that resulted in significant losses and the disbandment of his practice staff.

Throughout the episode, Phil emphasizes the consequences of initiating the selling process without adequate insight and planning. The ideal moment to commence preparations for a sale is no less than two to three years prior to the intended transition. This advance planning allows for the optimization of key factors such as the practice’s cash flow, financial documentation, and the reduction of owner dependency, all of which are instrumental in maximizing the eventual sale price. The conversation further elucidates that a seller's position of strength is crucial in navigating the market and selecting the right buyer, as it affords them the luxury of choice rather than the necessity of accepting the first offer that arises.

Buying a dental practice can be the fastest path to building wealth—but it's also one of the biggest financial decisions you'll ever make. In Part 2 of the Practice Transition Series, Phil Cole breaks down the due diligence process every buyer needs to understand before signing a purchase agreement.

Using a real-world cautionary story of a young dentist who overpaid for a struggling practice, Phil explains how hidden risks can derail an acquisition—and how the right preparation can prevent costly mistakes.

From evaluating financials and patient data to reviewing leases, equipment, insurance contracts, and financing options, this episode provides a practical framework for buying the right practice at the right price.

"The Dental Business Podcast with Phil Cole" Presented by KLAS Solutions

You've built your practice from the ground up — but do you actually know what it's worth?

In this episode, KLAS Solutions breaks down the real factors that determine practice value, from revenue streams and patient retention to the hidden metrics buyers and investors actually care about. Whether you're years away from a transition or starting to think about your exit strategy, this is the episode that will change how you see your life's work — and how you protect it.

In this episode...

The paramount focus of this podcast episode is the critical importance of cultivating a robust banking relationship for dental professionals, one that extends beyond mere transactional interactions. We delve into the nuances of dental-specific lending, the distinct differences between lenders who understand the unique financial dynamics of dental practices and general banks that do not. It is imperative for physicians to comprehend the ramifications of their banking decisions, as these choices can significantly influence their practice's growth trajectory, particularly during challenging periods or transitions. Throughout our discussion, we describe various types of loans relevant to dentists, including acquisition loans, startup loans, and lines of credit, while emphasizing the importance of proactive communication and strategic planning to establish a fruitful partnership with a lender. Ultimately, we aim to equip our listeners with the knowledge to navigate the complexities of dental financing, thereby ensuring a sustainable and prosperous practice.

• Why most dental practices struggle with team dynamics
• The difference between predictive trust and vulnerability-based trust
• Why healthy conflict is necessary for growth
• How poor team communication impacts profitability and productivity
• The hidden cost of employee turnover
• Why accountability should not rely solely on the doctor
• The direct connection between leadership and practice performance
• How “artificial harmony” quietly damages teams
• Why leadership is a learnable skill, not a personality trait
• Practical ways to begin implementing the Five Behaviors framework
• Signs your team culture is improving
• How ongoing coaching differs from one-time training

Chapters

00:00 – Introduction

02:10 – The Five Behaviors overview

07:00 – Building trust on teams

14:00 – Healthy conflict vs silence

22:00 – Accountability and productivity

34:00 – Leadership is learnable

48:00 – Team dysfunction and burnout

1:02:00 – How to start improving your culture

1:14:00 – Final thoughts

• KLAS Five Behaviors Flyer.pdf
• KLAS Solutions
• ryan@klassolutions.com

This episode focuses on one of the biggest business decisions dentists make: whether to lease or buy their practice space.

Phil sits down with real estate experts Mark and Ron from Commercial Resources Advisory to talk about how real estate can impact the growth, profitability, and future value of a dental practice.

They break down:

• The difference between leasing and buying
• Which option makes the most sense for different types of dentists
• Common mistakes practice owners make
• How real estate affects practice transitions and growth
• What dentists should think about before expanding or opening a startup

The goal of this episode is to help dentists better understand their options so they can make smarter business and real estate decisions for their future.

Chapters:

• 00:06 - Introduction to the Dental Business Podcast
• 01:09 - Introduction to Real Estate for Dental Practices
• 11:17 - Understanding Lease Types in Real Estate
• 15:41 - Understanding Real Estate Purchases and Financing
• 23:42 - Evaluating Practice and Real Estate Value
• 27:45 - The Importance of Building Condition in Real Estate Valuation
• 36:17 - Building Strong Partnerships in Business

Takeaways:

• Understanding the distinction between gross collections and adjusted collections is critical in practice valuation.
• Buyers must evaluate not only revenue but also the overhead percentage to gauge profitability.
• The quality and loyalty of the patient base significantly impacts a dental practice's overall value.
• Staff stability and tenure are essential indicators of a practice's goodwill during ownership transitions.
• The physical condition of the practice and its equipment must be assessed when determining market value.
• Confidence in the seller and transparency during the diligence process can influence buyer decisions profoundly.

Chapters:

• 00:17 - Understanding Practice Transitions
• 02:22 - Understanding Practice Value
• 12:55 - Evaluating Practice Value: Key Factors for Buyers
• 15:42 - Understanding Seller Preparation and Buyer Confidence
• 21:18 - Understanding the Five-Part Framework for Practice Acquisition

This episode is all about helping dental practices build a marketing plan that actually works. I talk about the difference between just doing random marketing tasks and having a real strategy with clear goals and the right audience in mind. We also break down the basic pieces every practice needs first, like a strong Google Business Profile and a good website, before spending time or money on bigger marketing efforts. I also explain how most patients start by searching on Google when they need a dentist, which makes it even more important to show up and make a strong first impression. By the end of the episode, listeners will walk away with practical ideas to improve their marketing, attract more patients, and keep growing.

Chapters:

• 00:33 - Understanding Marketing Strategies for Dental Practices
• 03:44 - The Marketing Stack: Building a Solid Foundation
• 12:28 - Transitioning to Effective Marketing Strategies
• 22:40 - The Importance of Referral Systems in Dental Marketing
• 26:34 - Introduction to Dental Marketing Strategies

This story shows how even a good dentist can run into serious trouble when the business side of the practice gets off track. Dr. Marcus was a strong clinician with loyal patients, but behind the scenes, his practice was struggling. Collections had stalled, his fee schedule was outdated, and communication with the team was not working the way it should. Over time, those issues started to pile up and put the practice in a tough financial spot.

The episode walks through the challenges he faced and how he turned things around. Once he got outside help and took a close look at what was not working, the real problems became clear and fixable. With the right changes and a better handle on operations, Dr. Marcus was able to save his practice and put it on a path toward steady growth and better profitability. It is a good reminder that dentists cannot ignore the business side if they want a healthy, successful practice.

Chapters:

1. 00:11 - The Gap Between Education and Entrepreneurship
2. 01:14 - The Story of Dr. Marcus: A Dental Practice on the Verge of Closing
3. 09:05 - Analyzing Dr. Marcus's Practice Challenges
4. 14:51 - Turning Point: The Shift from Vague Dread to Specific Solutions
5. 20:10 - The Transformation of Dr. Marcus's Practice
6. 25:09 - Addressing Dental Practice Challenges

This episode breaks down why understanding overhead is so important in a dental practice. We talk about how overhead is more than just a number or percentage. It includes everything from staff wages and supplies to lab bills and facility costs, and all of it affects how healthy and profitable a practice really is.

We also go over helpful benchmarks and practical tips doctors can use to keep their expenses under control and run a more efficient practice. One of the big points in this episode is the importance of doing a quarterly break-even analysis so practice owners can catch problems early and make smarter financial decisions before things get off track.

Overall, this episode is all about helping dental professionals better understand their numbers so they can build a practice that is successful both financially and clinically.

In this episode of the KLAS Solutions Dental Business Podcast, Phil Cole (CEO of KLAS Solutions) talks about one of the biggest moves in dentistry: going from being an associate to becoming a practice owner.

Phil shares real-world insight from helping dentists through practice transitions and breaks down what associates need to know before they buy a practice. They cover common mistakes, why understanding the business side of dentistry matters (especially since most of it is not taught in dental school), and what can go wrong when buyers rush the process.

They also talk about the team you should have in place before starting conversations, including a dental CPA, transition consultant, attorney, and lender who understand dental deals.

This episode is all about helping associates make smart decisions, do proper due diligence, and set themselves up for long-term success in practice ownership.

The podcast delves into the multifaceted journey of Dr. Ryan Brunworth, a dentist with over two decades of experience, who shares both his triumphs and tribulations in the dental profession. Initially, Dr. Brunworth's career began with an acquisition of a dental practice shortly after his graduation from the University of Michigan. However, this rapid ascent was fraught with challenges, as he faced a steep learning curve in both clinical skills and business knowledge. He emphasizes the critical importance of mentorship and experience, suggesting that early-career dentists should seek guidance to navigate the complexities of practice ownership. His narrative reveals not only the operational hardships of managing a dental practice, particularly during the economic downturn of 2008, but also the personal toll that such stressors can exact on a practitioner. The discussion culminates a reflection on the lessons learned from his initial mistakes, ultimately leading to a renewed passion for dentistry as he embarks on his second chapter in the field, equipped with the insights gleaned from his earlier experiences.

Takeaways:

1. In this episode, we explore the significance of mentorship and experience for new dentists starting their practices.
2. Dr. Brunworth shares his journey of overcoming challenges, emphasizing the importance of resilience and adaptability in dentistry.
3. We emphasize the necessity of having robust insurance policies to safeguard against unforeseen circumstances in a dental career.
4. The discussion highlights the transition from clinical practice to alternative careers and the lessons learned from such experiences.

The predominant focus of this discussion centers on the financial missteps frequently encountered by dental practice owners. I explain the five most significant financial mistakes that dentists commonly make, which often lead to suboptimal profitability despite apparent success. We commence with the critical issue of conflating personal and business finances, including tax inefficiencies and diminished financial visibility. Furthermore, I emphasize the necessity of distinguishing between cash flow and profit, as many practitioners find themselves surprised by their financial statements. I provide actionable solutions to rectify these issues, thereby advocating for a proactive and structured approach to financial management in order to enhance the fiscal health of dental practices.

Takeaways:

1. Inadequate financial management often results from the conflation of personal and business finances, leading to significant organizational challenges.
2. Understanding the critical distinction between cash flow and profit is essential for financial health in dental practices.
3. Implementing a detailed and realistic budget is imperative to avoid financial pitfalls and ensure operational efficiency.
4. Establishing a separate tax savings account is crucial for managing tax liabilities effectively and avoiding last-minute financial stress.
5. Dental practices must maintain adequate financial reserves to mitigate unexpected expenditures and ensure long-term stability.
6. Intentional financial planning and systematic adjustments are vital for overcoming common mistakes and fostering sustainable growth.

The Dental Business Podcast enters a new era with its rebranding, emphasizing a dual focus on clinical excellence and business proficiency. Understanding that the traditional dental curriculum often neglects essential business principles, we aim to provide our listeners with a comprehensive toolkit that encompasses financial management, effective marketing strategies, and operational efficiencies. The first episode articulates the motivations behind this transformation, highlighting the critical need for dentists to gain a thorough understanding of the business side of their practices. By sharing relevant stories from dental professionals who have successfully navigated the complexities of practice ownership, we provide valuable lessons that can be applied immediately. Throughout the year, we anticipate delivering a diverse array of content, including expert interviews and practical workshops, to facilitate continuous learning and growth among our audience. Our ultimate goal is to create a resource that not only informs but also inspires actionable change, enabling dentists to enhance their business acumen and achieve their professional aspirations.

Takeaways:

1. The rebranding of the podcast signifies a stronger focus on the business aspects of dentistry, addressing vital gaps in dental education.
2. We have observed that many dentists excel clinically but struggle significantly with the business acumen required for practice ownership.
3. The podcast aims to provide practical, actionable insights that dentists can implement immediately to improve their business operations.
4. Our community initiative will furnish dentists with the necessary tools and support to effectively navigate the complexities of practice management.

Takeaways:

1. The procrastination penalty emphasizes the critical need for early planning in exit strategies.
2. Valuation illusions can lead to unrealistic expectations about the worth of dental practices.
3. Understanding tax implications is pivotal to maximizing the proceeds from a practice sale.
4. The successor mirage highlights the dangers of informal transitions without binding agreements.
5. The high income, low wealth paradox illustrates that high earnings do not guarantee financial security in retirement.
6. Emotional anchors can inhibit dentists from effectively transitioning out of their practices.

Let's discuss your Dental Practice Exit plan today: https://www.klassolutions.com

Key Takeaways from your host Phil Cole, CEO of KLASSOLUTIONS

• The podcast has officially rebranded from the Dental Education Podcast to the Dental Business Podcast to better align with its focus on business strategies for dental practice owners.
• The episode emphasizes the importance of partnerships in dentistry, highlighting how collaboration can lead to reduced workloads and improved work-life balance for practice owners.
• Listeners are encouraged to consider whether they are ready for a partnership by evaluating their current patient load and operational systems before taking that step.
• Critical elements for successful partnerships include shared core values, defined roles and expectations, and transparent compensation agreements to avoid future conflicts.
• Regular communication and monthly partner meetings are essential to maintaining healthy partnerships and avoiding silent resentments between partners in a dental practice.
• The podcast advises seeking professional help from dental attorneys and CPAs when forming partnerships to ensure that legal agreements are thorough and protect all parties involved.

Please reach out to us via klassolutions.com with any questions you may have.

Got a busy schedule and thin margins? In this episode, I break down the simple math behind hitting 25% profit—and why most dental practices miss it. I’ll show you where money leaks, how to plug them fast, and the key habits that keep your numbers strong month after month.

What you’ll learn:

• The 3 numbers that control profit (and how to track them weekly)
• A clear target for payroll, supplies, and overhead
• The “leaky bucket” costs hiding in plain sight
• How to price, schedule, and collect so cash actually sticks
• A quick checklist to move from 10–15% profit to 25%+

In this episode of the KLAS Solutions Dental Education Podcast, we're talking about how to lead with heart and make clear business decisions. You care about your patients and your team—that’s a strength. But when empathy drives every call, it can lead to burnout, confusion, and lost profit. We'll walk you through simple ways to set fair boundaries, coach with clarity, and still show up as the caring leader your practice needs.

www.klassolutions.com

In this episode, I break down cash discounting—what it is, how it’s different from surcharging, and how to set it up the right way in a dental office. Credit card fees keep rising, and most practices now run far more card volume than they did a decade ago. I’ll show you how to protect margins without hurting patient trust or payment flexibility.

Being the first in your family to become a dentist isn’t just an achievement—it’s a journey filled with unique challenges and triumphs. In this video, Phil Cole shares the real-life struggles and successes of first-generation dentists, offering insights and encouragement for anyone carving their own path in dentistry.

klassolutions.com

In this episode, we dive into why being truly known and trusted is the cornerstone of a thriving dental practice. We’ll share practical strategies to strengthen patient relationships, build credibility in your community, and create a practice culture where trust drives growth and long-term success.

klassolutions.com

Strategic Financial Planning for Dentists: Insights with Jennifer Lee.

In this episode of the Solutions Dental Business Podcast, host Phil Cole discusses financial planning with Jennifer Lee, a seasoned financial advisor and founder of Modern Wealth, who has been helping dentists for nearly 30 years. They cover crucial topics such as tax sheltering, the importance of planning for retirement and an exit strategy, and how to replace income after the sale of a dental practice. Jennifer emphasizes the need for early financial planning, the benefits of having a comprehensive financial plan, and the role of disability and life insurance in securing a dentist's financial future.

Tune in to gain valuable insights on building a financially sound dental practice and planning for successful retirement.

00:00 Welcome to Solutions Dental Education Podcast

00:35 Introducing Jennifer Lee: Financial Advisor for Dentists

01:17 The Importance of Planning for Your Exit

03:20 Common Financial Mistakes Dentists Make

05:41 When to Start Thinking About Retirement

08:48 The Ideal Timeline for Exit Strategy

18:23 Building Blocks for Replacing Income After Exiting

21:57 Long-Term Financial Planning for Dentists

22:37 The Role of Insurance in Financial Planning

23:34 Building a Strong Financial Foundation

26:38 The Importance of Disability Insurance

33:05 Financial Planning for Peak Earning Years

35:50 Tax Benefits of Relocating to Tax-Favorable States

38:32 Conclusion and Final Thoughts

For more information on Coaching, Transitions, Marketing and Accounting for your Dental practice visit www.klassolutions.com

Key Strategies for Successfully Expanding Your Dental Practice

In this episode of the KLAS Solutions Dental Education podcast, Phil Cole discusses the important considerations and strategic roadmap for dental practice owners contemplating opening a second location. Key points include assessing if your current practice is truly maxed out, common pitfalls to avoid, and how to effectively structure your team and systems to support expansion. Phil emphasizes the importance of basing decisions on data and creating a solid platform for growth, rather than succumbing to emotional impulses. Additionally, the podcast covers essential aspects like market demographics, competition analysis, and the necessity of leadership and strong systems to build a successful multi-location practice. Whether you're planning your first expansion or looking to avoid burnout during growth, this episode offers invaluable insights for dental entrepreneurs.

00:00 Introduction and Overview

01:16 Assessing Readiness for Expansion

05:08 Identifying Red Flags

10:07 Choosing the Right Location

20:17 Scaling Systems and Leadership

26:17 Common Mistakes to Avoid

30:15 Final Thoughts and Action Items

Visit klassolutions.com for more information about our Coaching, Transition, Marketing and Accounting Services.

Ever have trouble getting patients to agree to the treatment they need? We talk about how to explain procedures and costs in a way that makes sense to patients and builds trust. By using a few simple communication tips, you’ll find more patients saying “yes” to the care they need – a win-win for them and your practice.

Buying vs. Starting a Dental Practice: Insights and Advice

In this episode of KLAS Solutions Dental Education Podcast, host Phil Cole addresses a common question from dentists: Should you buy an existing practice or start your own from scratch?

Phil explores the pros and cons of both options, sharing real-life examples and key considerations, including patient base, location, financials, active patient count, and staffing. He also highlights the importance of having a strong vision, comprehensive due diligence, marketing strategies, and clean financials when making this significant decision.

Listeners will gain valuable insights to help determine the best path for their dental practice journey.

01:23 Pros and Cons of Buying an Existing Practice

03:09 Key Considerations When Buying a Practice

05:02 Real Stories and Red Flags in Practice Acquisition

15:47 Starting a Dental Practice from Scratch

28:30 Cost Breakdown and Financing Options

31:20 Personality and Fit: Choosing Your Path

37:04 Conclusion and Final Advice

Visit https://klassolutions.com for more information on buying or starting a dental practice, to obtain coaching services and more...

In this episode, we’ll talk about how to hire and keep a great team for your practice. We discuss ways to find the right people, build a positive office culture, and keep everyone motivated. By the end, you’ll have tips to become a stronger leader for your staff.

Books mentioned in the episode:

The Five Dysfunctions of a Team by Patrick Lencioni and The Servant Leader by James A. Autry

www.klassolutions.com

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We're taking a good look at what private equity is dentistry - the good, the bad, and the ugly. Whether you're thinking about selling, holding strong, or just trying to figure out what this is all about, this is the podcast for you!

Access dental marketing resources here: https://cleartolaunchdental.com/resources/

To learn more about Clear to Launch Dental Marketing, visit their website: https://cleartolaunchdental.com

Want to hear an episode on a specific topic? Email us at info@klassolutions.com.Thanks for listening!

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Navigating OSHA, HIPAA, and doing risk assessments can feel overwhelming, but ignoring them is not an option. Today we have Angel Simmons, CEO of Simmons Safe, to break down things for us and give us actionable takeaways. She shares common mistakes, challenges, and other things you can do to keep your dental practice safe and in line with regulations.

About Simmons Safe: At Simmons Safe, we understand that a safe practice is a successful practice. But we also know from experience that complying with OSHA and HIPAA standards can be a time-consuming and complex process. We founded Simmons Safe in response to the growing need for a modern approach to compliance that streamlines tasks, updates systems, and protects practices. Founder Angela Simmons brings 30 years of experience to this mission, drawing on her extensive work in the dental industry to modernize compliance programs. Angela has dedicated her career to creating safe environments for patients and employees, and she prides herself on building a culture of positivity toward compliance wherever she goes.

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🎙️ Welcome to the Dental Education Podcast with KLAS Solutions! Hosted by Phil Cole, this episode is a must-listen for any dentist thinking about selling their practice—whether retirement is around the corner or years away.

🔹 Key Takeaways:

1. Start Planning Early – The biggest mistake dentists make is waiting too long to prepare for a transition. Ideally, planning should begin at least 3-5 years before selling to maximize value.
2. Boost Patient Growth & Marketing – A steady influx of new patients (target: 30 per month per doctor) makes the practice more attractive to buyers and reduces their workload post-sale.
3. Manage Financial Health & Overhead – A high overhead (75%+) can make a practice unsellable. Understanding break-even points and controlling expenses is crucial for long-term profitability.
4. Upgrade Office & Technology – Worn-out equipment and lack of digital dentistry can deter buyers. Small updates like going digital can significantly enhance value.
5. Ensure a Smooth Transition – Reviewing leases, PPO participation, and tax documentation in advance prevents last-minute roadblocks that could impact the sale.

💡 Whether you plan to sell soon or in the distant future, these strategies will ensure you get the best return on the practice you worked so hard to build.

🎧 Tune in now!

Visit us at https://www.klassolutions.com

In today's episode, Phil Cole has a conversation with Jane Levy, Plan Forward's Co-Founder and Co-CEO.

Plan Forward is a company of dental experts who have developed a platform that puts you in control with cutting-edge software for dental offices specifically and designed to be a comprehensive dental membership plan solution.

Now you can work smarter with practice technology that connects into one communication and management platform for seamless patient care.

How can the Plan Forward Membership Solution help you run a more efficient, successful and client-focused practice?

It’s simple. The Plan Forward Solution empowers dental teams to operate a more efficient and patient-centric practice. It leverages automation, customization, accurate patient communication, transparency, and unparalleled customer service to ensure dentists can focus on what matters most: delivering only the best oral care in the digital age.

Tap into the power of advanced practice software with tools that help you run your business as well as your practice.

www.planforward.io

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In today's episode, we'll discuss:1. Why merchant services are the unsung hero of a seamless patient experience2. How outdated payment systems can create friction points that frustrate both you and the patient3. The impact of flexible payment options

We are so excited to be joined by Blueswipe's CEO and Founder, Tim Ryan!

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In today's episode, Launching Your Own Dental Practice, we'll unpack the journey of transforming your dental career from being an employee to starting your dental practice from scratch.

Have a topic you'd love to learn about? Send us an email: info@klassolutions.com

To learn more, visit our website: www.klassolutions.com

Thank you for listening and sharing!

KLAS Solutions isn't here to teach you dentistry - you've already mastered that. Instead, like a seasoned coach who helps shape raw talent into championship performance, we help transform skilled practitioners into successful practice owners. Whether you're looking to grow your practice, improve operations, or plan for the future, we provide the strategic guidance that turns potential into actual results.

Just as a great coach helps athletes see opportunities they might have missed and avoid pitfalls they might not have anticipated, we work alongside you to optimize every aspect of your practice. Our role isn't to take control - it's to be your partner and provide the insights, strategies, and support that help you achieve your goals.

At the end of the day, success in any field isn't just about talent - it's about having the right team in your corner. The greatest athletes understood this truth, and the most successful dental practices embrace it too. Excellence thrives on partnership, and that's exactly why KLAS Solutions exists.

KLAS Solution Coaching

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844-552-7100

In this episode of the Dental Education Podcast, host Phil Cole addresses the importance of scheduling optimization in dental practices. Inefficient scheduling can lead to significant revenue loss, with studies showing that dental practices may lose between $30,000 to $50,000 annually. Phil discusses cutting-edge scheduling strategies to maximize productivity, eliminate bottlenecks, and recommends top tools and software for efficient scheduling. He emphasizes the need for practices to have daily goals, utilize technology effectively, and continuously monitor key performance indicators (KPIs). By prioritizing strategic scheduling, using automated reminders, and maintaining proper communication protocols, dental practices can significantly enhance efficiency, reduce downtime, and improve patient satisfaction.

Find out more at klassolutions.com

In the KLAS Solutions Dental Education Podcast, host Phil Cole discusses crucial considerations for aspiring and current dentists looking to purchase a practice. He emphasizes the importance of having a buyer advocate by your side to guide through the entire acquisition process. Phil highlights the comprehensive buyer advocate program offered by KLAS Solutions, covering key components such as practice valuation, demographic analysis, financial assistance, due diligence, crafting a proper offer, transition planning, and business ownership coaching. The podcast provides in-depth insights and strategies to ensure informed decision-making and long-term success in running a dental practice.

Find out more about our buyer advocate solution here: klassolutions.com

In today's episode, Daniel and Phil Cole of KLAS Solutions discuss things that can go wrong in a dental transition, things that can get misunderstood, all while giving you real life examples.

If you'd like to learn more about dental transitions, please visit our website!

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In today's episode, we talk about why dental and medical professionals need assistance from a comprehensive financial planner. Phil is joined by Steven Huskey and Brandon Wilson from Blue Water Dental Advisors.

https://bluewaterdentaladvisors.com/

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Dr. Rob Scranton teaches people how to use their current debts and expenses to grow their wealth outside of the traditional approaches like scrimping, saving, and denying themselves the lifestyle they want. He leverages his extensive background in accounting, finance, and his experience as a the former chief financial architect of a cutting-edge financial firm to offer a unique perspective on a highly effective financial strategy known as the Infinite Banking Concept, or IBC.

The reason the IBC concert is so effective is because it predates the IRS and the tax code, preventing the government from lawfully seizing wealth accumulated through this method. It's about staying wealthy by protecting and preserving your money while it's still growing. Instead of working longer hours, taking on more risk, or losing control - how most people think wealth happens - the wealthy use this 200 year old strategy to keep and grow more of their money.

If true wealth is what you want, you should use the IBC too, and Dr. Rob can help. Connect with him at yourfinancialiq.org or on TikTok at www.tiktok.com/@robertscranton4

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In today's episode, Dr. Mike Neal talks about the biggest challenges medical and dental professionals face in staffing their practice, innovations in dental staff recruitment, practical tips for recruiting dental staff, and more!

Dr. Michael Neal is the Founder & Chief Executive Officer of Build My Team. He is a practicing Optometrist in private practice in rural Hawley, Pennsylvania.

He founded Build My Team to solve his own hiring struggles in his practice by modeling how companies like Disney and the Four Seasons hire.

The process worked so well he expanded it to help friends and now Build My Team services clients in 8 different health care professions in over 40 states and Canada. 

In his downtime, he's a Dad to 2 great sons, runs marathons with his wife and is an aspiring ultra runner. 

To learn more about Build My Team, visit their website: https://www.buildmyteam.com/

To learn more about KLAS Solutions, visit our website: https://www.klassolutions.com/

In today's episode, we address the following questions:

1. What should a dentist or doctor know when it comes to their insurance needs if they are starting a practice?

2. What should a doctor consider when it comes to disability or life insurance protection for themselves and their families?

3. What are the common types of retirement plans and associated benefits that a dentist or doctor business owner may consider installing for their practice?

Shawn Johnson, of Treloar & Heisel, specializes in working with Dentists and Physicians and provides comprehensive reviews in the following areas:

For the Individual Doctors:

- Fully underwritten individual disability insurance, if needed coordinating efforts with in-force group long term disability coverage

- Fully underwritten individual life insurance, if needed coordinating efforts with in-force group life insurance programs

- Long term care insurance

- Student debt management, financial planning, and wealth management services

For the Practice:

- Business Package

- Business Owners Policy, EPL, Cyber, WC, etc.

- Malpractice (Professional Liability) coverage for the doctors as well as their entity

- Defined contribution and defined benefit retirement Plan Services

- Business Overhead Expense Coverage

- Life and Disability Buy/Sell insurance

A little bit more about Shawn:

Shawn Johnson is the Vice President of Business Development for Treloar & Heisel. Over the last 23 years he has helped thousands of dental and medical professionals implement business and personal insurance policies and establish financial planning processes. He has assisted in installing retirement plans for dental and medical offices, as well as providing savings and investment strategies. A Chartered Financial Consultant, Shawn is a member of the National Association of Insurance and Financial Advisors and the Financial Planning Association of Pittsburgh.

Learn more and inquire:

www.treloaronline.com

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Welcome to Episode 31 of the KLAS Solutions Podcast! In this episode, we're diving deep into the world of partnership transitions in the dental industry. 

Phil Cole explores the crucial questions you need to ask yourself and your potential partner to ensure that a partnership is the right move for your dental practice. From assessing compatibility to clarifying expectations, we cover the 13 essential questions that will guide you through this pivotal decision-making process.

Whether you're considering entering into a partnership for the first time or evaluating an existing one, this episode provides valuable insights and practical advice to help you navigate the complexities of partnership transitions in dentistry.

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