Dental Practice Financing

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@Dr Bhavdeep Ahuja
What exactly is Profitability?
We all know – What is Profit – Don’t we?
Profit = Income minus Expenses
Even if you are the best dentist in the town, if you don’t manage your money right, you are not going to be able to build and maintain a profitable, financially sustainable practice.
Even if our practice isn’t earning lots of money to start with, our goal should ultimately be, to be sustainable and make a profit to reward ourselves and our team.
We are then indirectly rewarding our patients through a fantastic patient experience and re-investment into the practice to provide them with the very best standards and new cutting edge equipment.
We are sometimes so busy producing week after week, only to find there isn’t much money left in the account at the end of the month?
So, I will ask again in a different manner?
What is Profitability?
Is it More Income?
Is it Less Expenses?
People look at one of the above (myopic) – I look at both of the above (telescopic).
Profitability isn’t rocket science, it is about the relationship between income and expense.
So why do so many dental clinics struggle with profitability?
The list of reasons is unfortunately endless.
So, this presentation is about taking a holistic view of both these components.

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There’s always a first time for everything, and it’s no different when it comes to dentistry. It’s not even about how long you’ve been running a practice. Some cases just don’t come to us, but dentists should actively seek out doing any treatment for the first time. More than just getting the experience, the people you meet and work with, the mindset you must possess, and the processes you will learn can be life-changing from both a business and personal perspective.

Today, I share the story of my first hybrid patient and why I decided to take the case. I discuss the steps involved when it comes to hybrids, my experience working with a dental surgeon, and what I learned from them. I explain what type of hybrid cases you should have in your practice and how you can provide the most seamless customer experience. I describe your front-office team’s role and why I believe they are the bottleneck of our practice. I discuss how a medical representative can help prepare your team for new procedures and services. I also share advice for those who want to be in the dental industry and what I wish I knew when I was getting started.

“I encourage every surgically-oriented dentist to get into doing hybrids yourself. It’s life-changing work.” – Tarun Agarwal

This week on T-Bone Speaks Dentistry Podcast:
– My first hybrid patient and what pushed me to do it.
– How my surgeon helped me get to a higher level of dentistry.
– Working with my surgeon and how we helped each other’s businesses.
– How working with a surgeon can be a dentist’s safety net.
– Understanding which hybrid cases dentists should handle.
– The different surgeons we work with at 3D Dentists.
– How you can offer a frictionless experience for the patient.
– Why it’s critical to train each of your team members step-by-step.
– The value of a medical rep in the context of team training.
– Why the number one technology for your business is the camera.
– My one piece of advice for those who want to get into dentistry.

Our Favorite Quotes:
– “I, for sure, wouldn’t be where I’m at today if I have not partnered with the right-minded surgeon to help me get to these levels.” – Tarun Agarwal
– “The surgery is the daunting part. A hybrid is a big surgery.”- Tarun Agarwal

Subscribe, Connect & Share Your Favorite Episodes
Thanks for tuning into this week’s episode of T-Bone Speaks Dentistry. If you enjoyed this episode, please head over to Apple Podcasts or Google Play Music to subscribe to the show and leave your honest review. For more great content and helpful tips to grow your dental practice, visit our website. Follow us on Facebook and LinkedIn, subscribe on YouTube, and don’t forget to share your favorite episodes with other dental practitioners.

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Did you think that marketing alone is what gets you new patients? Well, there’s another “x” factor you really need to consider.

Hi, I’m Xaña Winans, Founder and CEO of Golden Proportions Marketing, one of the largest and most experienced dental marketing agencies in the country.

Yes, good marketing can attract potential new dental patients, but converting them and keeping them depends on another very important factor — your leadership skills.

I have noticed that there are five primary leadership skills that directly impact how effective your marketing will be and how much lifetime ROI you’ll receive from the patients your marketing delivers.

Leadership Skill #3: Accountability
If you really want to see your office grow, it’s time to practice accountability. If a business is struggling and growth appears to be completely stuck, my conversations with the owner usually reveal a pattern of blame, excuses and denial. This is called “Below the Line” behavior and when this happens, I’m told it’s ALWAYS someone else’s fault.

True practice growth comes from acting “Above the Line.” As a business owner, once you start accepting responsibility, taking ownership and being accountable to the results you are seeing, you’ll find you are ready to make the changes truly necessary to grow. As they say, the buck stops here, or in this case, with YOU.

Want to sharpen your leadership skills and turn your obstacles into opportunities? Click to get your free copy of The Ultimate Guide to Leadership for Dentists. It’s loaded with expert advice from some of the top dental practice consultants in the country.

Thanks for watching!

Ultimate Guide to Leadership for Dentists

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Reflect your Dental practice’s image ONLINE so patients can feel confident to take action!

👉 https://www.microswift.ca/dental-marketing
___________________________________________________________
👉 Follow Microswift Online Here:

Instagram: https://www.instagram.com/microswift_canada/
Twitter: https://twitter.com/MicroswiftC
Facebook: https://www.facebook.com/MicroswiftCanada
TikTok: https://www.tiktok.com/@microswiftcanada?.​
Website: https://www.microswift.ca​​
Podcast: https://open.spotify.com/show/4meIBQNWdmYgnpnccj58KF?si=dBgyh4H7ROWVg2YHSB-wRA&nd=1

For Business Inquiries Email: support@Microswift.ca

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Did you think that marketing alone is what gets you new patients? Well, there’s another “x” factor you really need to consider.

Hi, I’m Xaña Winans, Founder and CEO of Golden Proportions Marketing, one of the largest and most experienced dental marketing agencies in the country.

Yes, good marketing can attract potential new dental patients, but converting them and keeping them depends on another very important factor — your leadership skills.

I have noticed that there are five primary leadership skills that directly impact how effective your marketing will be and how much lifetime ROI you’ll receive from the patients your marketing delivers.

Leadership Skill #1: Delegation
Your ability to delegate and entrust others in your office with important tasks frees your time and attention, allowing you to focus on patient care.

That’s not to say you shouldn’t be spending any of your attention on marketing, but trying to manage responsibilities that can be handled by your team can prevent you from seeing the big picture. You need to spend the time you have available on the strategic marketing decisions, and not what picture to use in a social post or what font to use in a headline. Give your team clear direction and expectations, and let them run with it.

Want to sharpen your leadership skills and turn your obstacles into opportunities? Click to get your free copy of The Ultimate Guide to Leadership for Dentists. It’s loaded with expert advice from some of the top dental practice consultants in the country.

Thanks for watching!

Ultimate Guide to Leadership for Dentists

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⚠️⚠️ Advanced stuff ⚠️⚠️ Advanced stuff ⚠️⚠️ Advanced stuff ⚠️⚠️
In this webinar, Paul Lovell is joined by Jono Alderson of Yoast and Martha van Berkel of Schema App to deep dive into how you can enhance your content with structured data.

Slides and transcript → https://www.semrush.com/webinars/structured-data-for-content-marketing/

Related webinars → https://www.youtube.com/playlist?list=PL6ilq_Pc9RZhUpreiZKYzXgLo0NX_sbnj

More webinars → https://www.semrush.com/webinars

Read more → https://www.semrush.com/blog/how-to-leverage-structured-data-to-outrank-your-competitors/

Check that you implemented structured data correctly on your website using Markup Report in Semrush’s Site Audit Tool → https://www.semrush.com/siteaudit

00:00 Introduction
01:45 Martha’s Knowledge Graph & Defining Schema Markup
02:47 Google’s Continued Investment in Structured Data
03:50 Rich Result Opportunities for Content
06:13 Schema.org Vocabulary
08:03 Connected Schema Markup
10:20 Wikidata and Wikipedia for Defining Content
11:45 Use Strong Connectors
12:52 Examples of Structured Data in Content Marketing
15:45 How Structured Data and Content Marketing Are Connected
18:08 A Visual Example of Content Built with Structured Data
19:55 Common Mistakes with Structured Data for Content
29:45 Other Structured Data Content Benefits
35:45 How Important is Schema Markup Overall in SEO?
40:35 References to Outside Content
45:32 Identifying Schema in Web Page Source Code
47:48 Upcoming Schema and Google Changes
54:57 Schema for Financial Institutions

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