Dental Business RX – Details, episodes & analysis

Most Dentists have no idea what their overhead really is. And there are some specific overhead trouble spots that can throw off your overhead quickly if not monitored closely. So, what should your overhead percentage be? And how often should you be monitoring it? That’s what Jeff covers in this week’s episode, so you can take home more profit!

DDS Success (coupon code MGE269) - https://ddssuccess.com/

Overhead Worksheet - https://www.mgeonline.com/overhead-materials/

Dental partnerships are essentially a business “marriage.” They can be extremely beneficial in the right setting and when properly structured, but they can go very wrong if not handled correctly. So, this week Jeff dives into the subject and tells you how to do it right, and where it can go wrong.

ADA Statistics - https://mgeonline.com/wp-content/uploads/2024/08/ADA-Statistics-EP-155.pdf

Learn more about MGE - https://mgeonline.com/

Expanding your repertoire can be a great thing with the intention to better serve your patients and do more of the type of dentistry you’re passionate about. However, there are also some business considerations (and pitfalls) to keep in mind, especially if you’re counting on these procedures to be an immediate boost to your production or profitability.

The MGE Communication & Sales Seminars - https://www.mgeonline.com/abc

DDS Success (team training) - https://ddssuccess.com

DDS Clinical Training (advanced clinical CE) - https://www.ddsclinical.com

We’ve discussed the idea of getting out of insurance plans and creating a fee-for-service practice—but what are the actual steps you need to follow to do it? That’s what we cover today with special guest Sabri Blumberg.

:51 – What is your specific situation and level of insurance participation?

3:44 – Ensuring you have an adequate volume of patients

15:34 – Important steps to do BEFORE dropping a plan

30:16 – Starting to phase out of plans

38:58 – Informing your patients (and retaining a high percentage of them)

46:51 – Changes to make in your practice now that you’re fee-for-service

Free PPO Exit Strategy Session - https://www.mgeonline.com/ppo-exit-strategy

The MGE New Patient Workshop - https://www.newpatients.net

Contact Sabri – sabrib@mgeonline.com

The MGE Communication & Sales Seminars - https://www.mgeonline.com/abc

This week we wrap up our series on “recession-proofing” your practice, so you can not only survive a recession, but actually thrive and continue to see great profitability and growth.

1:05 – Strengthening your hygiene department

10:01 – Getting out of reduced-fee insurance plans

21:40 – Organizational systems and staff training

30:28 – Adjusting your case acceptance process

34:35 – Managing your overhead

Checklist for “Recession-Proofing” Your Practice - https://www.mgeonline.com/recession-proof/

Insurance Plan Analysis - https://www.mgeonline.com/fees-and-plans-analysis/

MGE Power Program - https://www.mgeonline.com/power-program

We may be heading into a recession (or are already in one, depending on who you ask). So, what can you do to prepare so that your practice isn’t negatively impacted? Special guest Sabri Blumberg comes on to share her “recession proofing checklist” to ensure your practice stays productive and profitable no matter what happens in the wider economy.

3:07 – Creating a practice that can pivot quickly

12:22 – Growing your patient base sustainably

17:07 – Don’t be dependent on this type of production to meet your overhead

Checklist for “Recession Proofing Your Practice” - https://www.mgeonline.com/recession-proof/

The MGE New Patient Workshop - https://www.newpatients.net/

Forbes article - https://www.forbes.com/advisor/investing/are-we-in-a-recession/ 

This week we wrap up our series on “profitability killers” and the top changes you can make in your practice to have the greatest impact on reducing expenses and improving profitability. This episode focuses on staffing, payroll, labs/supplies, and a few other key tips for management overhead.

1:05 – Are your fees too low?

6:47 – Profitability Killer #4

16:14 – Profitability Killer #5

22:56 – Profitability Killer #6

Downloads for this episode - https://www.mgeonline.com/overhead-materials/

Coaching Session- https://www.mgeonline.com/overhead-and-profitability-coaching-session/

Learn more about MGE - https://www.mgeonline.com

Learn more about DDS Success - https://ddssuccess.com/

The ability to control the overhead and profit margin in your dental practice has always been important.  During times of economic uncertainty, you could say it becomes urgent! The question is where to start! In this week’s (and next week’s) episode, Jeff focuses on the top changes you can make in your practice that can have the greatest impact on reducing expenses and improving profitability.

Topics:

2:23 – The biggest problem: Profitability Killer #1!

11:18 – How addressing this issue affects your overhead percentage.

12:42 – Profitability Killer #2 – and how to prevent it.

17:52 – Profitability Killer #3, how it happens, and what to do about it.

34:00 – How this affects your overall expenses and practice growth.

35:13 – The Overhead and Profitability Coaching Session

Links:

Downloads for this episode - https://www.mgeonline.com/overhead-materials/

ABCs- https://www.mgeonline.com/mge-communication-and-sales-seminars/

Coaching Session- https://www.mgeonline.com/overhead-and-profitability-coaching-session/

Learn more about MGE - https://www.mgeonline.com

We have received a ton of great questions from listeners recently, and many are about universal topics that would be helpful for anyone. So in our first “listener Q&A” episode, Jeff answers questions about case acceptance.

1:44 – What to do when the patient says “I want to think about it”?

11:42 – What if the patient only wants to do what the insurance covers?

18:53 – When and how should I bring up the fee?

28:38 – Should I present some now and some later?

36:40 – When should I bring in the Treatment Coordinator?

39:49 – What if the patient needs to talk to their spouse before making a decision?

The MGE New Patient Workshop - https://www.newpatients.net/

The MGE Communication & Sales Seminars - https://www.mgeonline.com/abc

MGE Power Program - https://www.mgeonline.com/power-program

This week we wrap up our series on scheduling with the “how-tos” and important steps for implementing an efficient scheduling system.

2:15 – Double booking done right

15:17 – Maintaining flexibility for emergencies, exams, unexpected occurrences, etc.

22:55 – Building time in for case presentations and consults

30:33 – Implementation steps

Downloads for this episode - https://www.mgeonline.com/scheduling-downloads

Team training video courses - https://ddssuccess.com

The Scheduling for Production Seminar - https://www.mgeonline.com/the-scheduling-for-production-seminar

Learn more about MGE - https://www.mgeonline.com